Galiano Gold Outlines 2020 Exploration Program

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[{"type":"text","content":"\n\n\n\nGaliano Gold Outlines 2020 Exploration Program\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, May 5, 2020\n\n\n\n(All dollar amounts are United States dollars unless otherwise stated)\n VANCOUVER, May 5, 2020 /CNW/ - Galiano Gold Inc. (\"Galiano\" or the \"Company\") (TSX, NYSE American: GAU) (formerly Asanko Gold Inc.) is pleased to announce its 2020 exploration program plans for the Asanko Gold Mine (\"AGM\"), located in Ghana, West Africa. The AGM is a 50:50 joint venture (\"JV\") with Gold Fields Ltd (JSE, NYSE: GFI), which is managed and operated by Galiano.  \nThe exploration program at the AGM is led by Galiano's newly appointed Senior Vice President of Exploration (\"SVP Exploration\"), Paul Klipfel.  The exploration team at the AGM now reports to the SVP Exploration who will report to Greg McCunn, Chief Executive Officer. The exploration team is being managed as a separate business entity to the AGM operations with a $10 million budget for 2020.\nExploration Objectives:\nNear term - to replace depletion from mining activity in 2020 and 2021. Medium term - to improve the business plan for 2023 to 2026 by delineating Mineral Reserves by the end of 2022 that have superior economics (return on invested capital) to Cut 3 at Nkran.  To advance exploration targets with +1 million ounce potential to be in production by 2027 to replace Esaase. \"The exploration potential of the 21,000 hectare district scale land package at the AGM joint venture has yet to be materially tested and we are excited to be launching this newly focused initiative aimed at improving the AGM's five year business plan,\" said Greg McCunn, Chief Executive Officer. \"After four years of commercial production at the AGM without any new substantial reserves being delineated, our top priority will be to begin the process of attempting to replace depletion on an ongoing basis.  In addition, we will be testing several defined drill targets which we believe have the potential to fit into our mine plan over the next five years and pr...

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