Galiano Gold buys Mali greenfields prospect from Barrick Gold for $1.5m

GALIANO Gold has bought a gold exploration property in Mali for $1.5m from Barrick Gold taking the number of greenfield options under its control to two.

The Toronto-listed mining firm said in an announcement on Monday that ABG Mali Exploration covers an area of 167 square kilometres covered with four exploration licences. The property is close to the Loulo-Gounkoto mine operated by Barrick and B2Gold’s Fekola mine located to the south and Sadiola and Yatela to the north.

A soil sampling campaign is planned for this year and airborne geophysical surveys are planned for later in 2021 aimed at assisting in drill targeting scheduled for 2022.

“Acquiring the ABG Mali properties is a small but meaningful step for Galiano,” said Greg McCunn, CEO of Galiano Gold. “We believe that the properties have a lot of promise including several attractive intercepts from previous drilling,” he said.

“Including Asumura, we now have two greenfield projects, both of which are located in prospective geological regions.”

Galiano Gold said in April it received $5m in a first quarter dividend from its one-half stake in Asanko Gold Mines (AGM) in Ghana.

The other half of AGM is owned by Gold Fields, the Johannesburg-headquartered gold mining firm. Galiano Gold is the operator of AGM. AGM paid $75m in dividends to the joint venture partners in its 2020 financial year.