Galiano Gold has reported new drilling results from its Asanko gold mine in Ghana, which expand the mineralised footprint of the Abore deposit. Hole ABDD26-477 intersected 53 metres grading 3.9 grams of gold per tonne from a depth of 179 metres. This high-grade finding is significant for the mine's overall resource base.
These recent drill results indicate a substantial extension of the Abore deposit beyond the existing underground resource model. Another notable intersection came from hole ABDD26-459, which returned 32 metres grading 4.7 grams of gold from 420 metres. These findings suggest that the mine holds more gold than previously estimated, potentially increasing its economic viability.
This discovery fits into Ghana's broader economic narrative as a major gold producer, a sector critical for export earnings and employment. Gold contributes significantly to Ghana's GDP and foreign exchange reserves. Improved resource estimates like these can attract further investment into the mining sector, boosting the country's economic stability. In 2023, Ghana produced 4.3 million ounces of gold, making it Africa's leading gold producer.
Chris Pettman, vice president of exploration at Galiano Gold, stated, “These latest exploration results continue to demonstrate the upside potential at Abore, highlighting extensions of mineralization and continuity of mineralized zones outside of, and well beneath, the current mineral resource.” His statement underscores the strategic importance of these findings for the company's future plans. Galiano Gold acquired an additional 45% stake in the Asanko Mine from Gold Fields in 2024, increasing its ownership to 90%, with the Government of Ghana holding the remaining 10%.
Looking ahead, Galiano Gold expects these strong results to support a revised life-of-mine plan and a comprehensive resource update scheduled for 2027. The Vancouver-based company is currently halfway through a planned 30,000-metre drilling programme at Abore. Ongoing drilling will focus on expanding the underground resource through further step-out and infill drilling, with additional assay results anticipated by June 30.
The Abore deposit, located along the Asankrangwa gold belt about 215 km northwest of Accra, has become a key growth asset due to its underground expansion potential. Drilling has identified a new 200-meter-long mineralized zone beneath the Abore main pit. The main pit ore shoot has also been extended approximately 50 metres further down plunge to the north.
Asanko Mine produced 121,191 ounces of gold in 2023. The mine is forecast to produce between 140,000 and 160,000 ounces in 2026, driven by these new resource expansions. The latest December 2025 resource estimate puts measured and indicated resources at 80.4 million tonnes grading 1.33 grams of gold per tonne, containing about 3.44 million ounces of gold. Inferred resources stand at 27.2 million tonnes grading 1.47 grams per tonne, for 1.28 million ounces.
These developments typically influence market sentiment. Galiano Gold shares rose 3.7% to C$3.64 on Monday morning in Toronto. This increased the company's market valuation to about C$950 million (US$699 million). Investors and market analysts will closely watch the future resource updates and production forecasts for the Asanko Mine, which could impact Galiano Gold's stock performance and Ghana's mining sector.