NEWS
Galiano Gold begins exploration on Asumura
2021-04-28 09:09 ET - News Release
Mr. Greg McCunn reports
GALIANO ANNOUNCES EXPLORATION WORK HAS COMMENCED ON WHOLLY OWNED ASUMURA PROPERTY IN GHANA
Galiano Gold Inc. has commenced exploration work on its 100-per-cent-owned Asumura property in Ghana.
Asumura is located along the western boundary of the Sefwi greenstone belt, approximately 65 km south west and along strike from Newmont's Ahafo mine. A program of soil sampling and geological mapping is currently underway, with a view to targeting follow up drilling later in 2021.
"The Asumura property has not received much attention from us over the past several years as we have focused on operating the Asanko Gold Mine. This year, we are excited to begin field work to explore this opportunity to create value for Galiano shareholders through exploration," said Greg McCunn, Chief Executive Officer. "The project is at an early stage, but we believe its location and geological setting make it an attractive greenfield target."
Asumura Property Description
The Asumura property is situated along the northwestern margin of the Sefwi Belt along strike from Newmont's Ahafo series of gold deposits. The local geological setting and north-easterly trending structures and cross structures result in multiple areas of exploration interest on a large land package (Figure 1).
The Asumura property consists of the Asumura, Fosukrom and Pomaakrom concessions and covers a total of approximately 247.0 square kilometers:
- The Asumura concession covers approximately 82.1 square kilometers and is located on the western edge of the newly created Ahafo Region in Ghana.
- The Fosukrom concession covers approximately 62.2 square kilometers and is located on the eastern edge of the newly created Western North Region in Ghana, within the Bia district.
- The Pomaakrom concession covers approximately 102.7 square kilometers and is located in between the Asumura and Fosukrom concessions and straddles the Western North and Ahafo regions.
The property is accessed from Kumasi via asphalt road to Bibiani, then on the Bibiani - Goaso road to Akrodie junction and a further ten kilometers to the community of Akrodie. A further 25 kilometers through the Ayum - Subin forest reserve leads to the Asumura Property concessions. Driving time from Kumasi to the concession is about five hours.
Asumura Geology
The Asumura property lies on the western boundary of the Sefwi greenstone belt. The belt is comprised of a sequence of Birimian upper greenschist to lower amphibolite facies metamorphosed basaltic rocks and locally foliated metasediments. Tarkwaian sedimentary sequences locally overlie the volcanics. Belt-style diorite intrusions occur throughout the belt and locally host gold mineralization as at the Subika deposit.
Gold mineralization in the Sefwi gold belt is associated with pyrite, arsenopyrite, graphite and quartz and occurs near northeast trending structures. Economic gold deposits occur along fractured, brecciated and silica invaded parts of the shear zones, which tend to parallel the Birimian fold structures; or as disseminated "stockwork" type gold deposits in favorable greywackes in and adjacent to the shear zones. Thrust-style deformation is also apparent. The crustal-scale western boundary shear of the Sefwi-Bibiani Gold Belt (the Ahafo Shear) and its associated splays are proving to be one of the better endowed gold structures in Ghana.
The Asumura concession covers the northwest margin of the Sefwi Belt. There is no single feature that marks the margin, but rather a series of shears with slivers of volcanics tectonically interleaved with basin sediments. The granite body of interest is believed to be a belt type diorite and thereby analogous to the host rock at the Subika deposit. The granite appears to be in fault contact with Birimian basaltic volcanics and metasediments. Birimian volcanics are primarily basalt with interlayered volcaniclastic units. Sedimentary rocks include argillite, siltstone, sandstone, and wackes. The rocks are commonly foliated parallel to bedding and strike northeast usually between 040degree - 050degree and dip steeply either to the northwest or southeast. The concession area has north-easterly trending structures and cross structures similar to other locations in southern Ghana.
About Galiano Gold Inc.
Galiano is focused on creating a sustainable business capable of long-term value creation for its stakeholders through exploration and disciplined deployment of its financial resources. The Company currently operates and manages the Asanko Gold Mine, located in Ghana, West Africa which is jointly owned with Gold Fields Ltd. The Company is strongly committed to the highest standards for environmental management, social responsibility, and health and safety for its employees and neighbouring communities.