from a subsidiary of Barrick Gold for consideration paid of US$1.5 million.
A review of historical work including previous drilling and six multi-km gold-in-soil trends is underway.
“Acquiring the ABG Mali properties is a small but meaningful step for Galiano.
There are widespread tarkwaian equivalent rocks on site as well as known gold occurrences and artisanal workings.
Concessions located on the eastern side of the SMSZ are dominated by the Kofi Series, which consists of a sequence of clastic sedimentary rocks and peraluminous granite plutons, and most notably, by sericite-tourmaline altered sandstones, a common feature of the gold deposits along the SMSZ.
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.
In some cases, forward-looking statements can be identified by the use of words such as “seek”, “expect”, “anticipate”, “budget”, “plan”, “estimate”, “continue”, “forecast”, “intend”, “believe”, “predict”, “potential”, “target”, “may”, “could”, “would”, “might”, “will” and similar words or phrases suggesting future outcomes or statements regarding an outlook.
Forward-looking statements in this news release include, but are not limited to: Galiano’s plan to conduct soil sampling and geophysical survey work on the ABG Mali property in 2021 and drilling in 2022; the opportunity for the ABG Mali Property to create value for Galiano’s shareholders in the future; the Company’s belief that the ABG Mali Property is a promising greenfield target; and the nature of the geological setting of the ABG Mali Property.
Some of the risks and other factors which could cause actual results to differ materially from those expressed in the forward-looking statements contained in this news release, include, but are not limited to: the Company’s and/or the AGM’s operations may be curtailed or halted entirely as a result of the COVID-19 pandemic, whether as a result of governmental or regulatory law or pronouncement, or otherwise; the Company’s responses to the COVID-19 pandemic may not be successful in continuing its operations in the ordinary course; adverse geotechnical and geological conditions may impede or prevent exploration or make exploration targets become unfavourable ; the Company’s operations may encounter delays in or losses of production due to equipment delays or the availability of equipment; the Company’s operations are subject to continuously evolving legislation, compliance with which may be difficult, uneconomic or require significant expenditures; labour disruptions could adversely affect the Company’s operations; the Company’s business is subject to risks associated with operating in a foreign country; risks related to the Company’s use of contractors; the hazards and risks normally encountered in the exploration for gold; the Company’s operations are subject to environmental hazards and compliance with applicable environmental laws and regulations; the Company’s operations and workforce are exposed to health and safety risks; unexpected costs and delays related to, or the failure of the Company to obtain, necessary permits could impede the Company’s operations; the Company’s exploration programs may not be successful; and that the geological setting of the ABG Mali Property may not correspond with that of the Senegal Mali Shear Zone belt or may not otherwise be favourable to the Company.
Although the Company has attempted to identify important factors that could cause actual results or events to differ materially from those described in the forward-looking statements, you are cautioned that this list is not exhaustive and there may be other factors that the Company has not identified.