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VANCOUVER - Galiano Gold Inc. (TSX:GAU) (NYSE American:GAU), a $346 million market cap mining company currently rated as undervalued according to InvestingPro analysis, announced Monday that its deep step-out drilling program at the Abore deposit in Ghana has intercepted mineralization in all four holes across a 1,200-meter strike length.
The program, consisting of four holes totaling 1,907 meters, tested for mineralization significantly below the current Abore Mineral Reserve and Mineral Resource boundaries at the Asanko Gold Mine. With a robust gross profit margin of 44% and strong cash position, the company appears well-positioned to advance its exploration initiatives.
Notable intercepts from the program included 36 meters at 2.5 grams per tonne (g/t) gold from 370 meters depth in one hole, and 16 meters at 3.1 g/t gold from 412 meters in another. The drilling confirmed that the Abore granite and mineralizing system continues 200 meters below the current Mineral Reserve pit shell.
"Intersecting mineralized granite in all four deep holes of this program is an important step in advancing our understanding of the blue-sky underground expansion potential at Abore," said Matt Badylak, Galiano’s President and CEO, in the press release.
Following positive results from a previous Phase 1 drilling program reported in Q1 2025, the company has commenced a Phase 2 infill drilling program at Abore to test for further extensions of mineralization immediately below the existing resource boundaries.
The Abore deposit, located approximately 13 kilometers north of the processing plant, currently has Measured and Indicated Mineral Resources of 638,000 ounces at 1.24 g/t gold and Inferred Mineral Resources of 78,000 ounces at 1.17 g/t gold, based on estimates effective December 31, 2024.
The deposit sits along the Esaase shear corridor with mineralization primarily constrained to granite, hosted in west-dipping quartz vein areas developed along the eastern margin of the granite/sediment contact.
This announcement is based on a press release statement from the company. Investors anticipating Galiano’s next earnings report, scheduled for August 13, 2025, can access comprehensive analysis and additional insights through InvestingPro, which features 6 key investment tips and detailed financial metrics for informed decision-making.
In other recent news, Galiano Gold Inc. reported its Q1 2025 earnings, revealing revenues of $77 million, which exceeded forecasts of $72.92 million. Despite this revenue beat, the company posted an earnings per share (EPS) of $0.01, missing the expected $0.02. The company experienced a net loss of $29 million due to hedge book fair value adjustments, although adjusted income was $3 million. Galiano Gold maintains a strong cash position with $106 million and no debt. The company is projecting a 75% increase in gold production by 2026 and is on track with its 2025 production guidance of 280,000 ounces of gold. Additionally, the firm has made significant progress in its exploration efforts, particularly at the Abore deposit, where a new high-grade zone was discovered. The commissioning of a secondary crusher in Q3 2025 is expected to enhance throughput and production efficiency.
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