2023 Exploration outcomes..new discoveries , more OuncesA very aggressive exploration program initiated in June of 2023 was extremely successful, finding new deposits and expanding current resources.
These have yet to be included in an updated Resource Estimate that will extend mine life and perhaps increase annual production..
The 2023 exploration program at the AGM has focused on expanding mineralization at known deposits, as well as advancing a robust pipeline of regional greenfields targets toward potential new discoveries. Highlights include:
- Resource and reserve upgrade drilling at Nkran: Completed 6,689 metres of drilling focused on the southern extent of the deposit which has further demonstrated the upside potential of the orebody.
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- The drilling confirmed zones of strong mineralization extend beyond the current mineral reserve pit shell, which remains open along strike and at depth, with intercepts including 19 m at three grams per tonne gold from 567 m, and 18 m at 2.6 g/t Au from 361 m.
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- Resource conversion drilling at Abore: Early results returned strong intercepts outside the current mineral reserve pit shell, including 36 m at 2.1 g/t Au from 278 m and 21 m at 2.6 g/t Au from 226 m, highlighting potential pit expansion opportunities.
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- Resource conversion drilling at Midras South: Completed the first phase of infill drilling of inferred mineral resources at Midras South, with the deposit advancing toward a maiden mineral reserve estimate.
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- Significant intercepts from the first two holes drilled include 18 m at four g/t Au from seven m, 17 m at 2.3 g/t Au from 24 m and 28 m at 1.2 g/t Au from 24 m.
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- Drilling at the Gyagyatreso regional prospect: Encouraging first results including intercepts of 38 m at two g/t Au from 20 m, 20 m at 1.7 g/t Au from 32 m and 11 m at 3.6 g/t Au from 98 m, highlighting the presence of a fertile gold-bearing system with significant strike length potential.
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- Regional greenfield exploration: Through early-stage mapping, geochemistry and geophysics work, large soil geochemical anomalies have been identified at the Aburi and Sky Gold targets, as well as induced polarization (IP) chargeability anomalies on the Esaase-Abore shear zone identified for follow-up trenching and/or drilling.
"The 2023 exploration results received to date bode well not only for extending the life of our current operations at the AGM, but also in identifying additional deposits located throughout our large, underexplored land package," stated Galiano's vice-president of exploration, Chris Pettman.
The positive drill results at Nkran and Abore highlight examples of the growth potential at our existing deposits, and it is exciting to see robust new regional targets, including Gyagyatreso, being proven across the wider AGM tenements.
We look forward to continuing our aggressive exploration program in 2024 and beyond in order to further extend the life of the mine."
Nkran highlights
The Nkran South drill program was designed to upgrade a zone of inferred mineral resources at the south end of the deposit and determine the potential for growth in the open-pit mineral reserves. In addition to the potential expansion of mineral reserves, the company is incorporating the drilling results into the Nkran underground study that is currently under way. Drilling began in late 2022 and was completed in 2023.
Based on these positive results, the company has confirmed the primary mineralized zones at Nkran are contiguous and remain open at the southern end of the deposit. The mineralized zones currently extend up to 185 m immediately along strike to the south of the proposed Nkran Cut 3 pit shell.
Highlighted drilling intercepts
Thirteen combination reverse circulation/diamond drill holes totalling 6,689 m were drilled as part of this program. Results include:
- Hole NKPC22-111: 19 m at three g/t gold from 567 m;
- Hole NKPC22-114W1: 18 m at 2.6 g/t gold from 361 m;
- Hole NKPC23-118: Nine m at 5.9 g/t gold from 565 m;
- Hole NKPC23-116: 19.5 m at 1.6 g/t gold from 451 m;
- Hole NKPC23-119: 19 m at 1.3 g/t gold from 483 m and seven m at 5.6 g/t gold from 324 m.
The Nkran pit is located immediately adjacent to the AGM's processing plant and has historically yielded the highest average mined grades on the Asankrangwa gold belt, while contributing significant cash flows over the years.
During the mining of Cut 2 (years 2016 to 2020), Nkran produced 15.2 million tonnes at 1.63 g/t and reported metallurgical recoveries of 94 per cent.
The Nkran geological setting is typical of the Asankrangwa gold belt with a sedimentary sequence of interlayered shale, siltstone and sandstone. Two granitic bodies intrude along shear zones that control mineralization which dips steeply to the northwest along with the sheared host stratigraphy.