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Galiano acquires exploration property in Mali from Barrick

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(Kitco News) - Galiano Gold (TSX: GAU) announced Monday that it has acquired 100% of ABG Mali Exploration ("ABG Mali") from a subsidiary of Barrick Gold for consideration paid of US$1.5 million.

The company said that the ABG Mali property covers over 167 km2 and includes four exploration licenses. The ABG Mali property is strategically located on the Senegal Mali Shear Zone, host to established gold deposits, including Loulo-Gounkoto and Fekola to the south and Sadiola and Yatela to the north.

Galiano noted that a review of historical work including previous drilling and six multi-km gold-in-soil trends is underway. A soil sampling campaign is planned for this year, together with UAV borne geophysical surveys planned for later in 2021, to assist in drill targeting scheduled for 2022.

"Acquiring the ABG Mali properties is a small but meaningful step for Galiano. We believe that the properties have a lot of promise including several attractive intercepts from previous drilling," said CEO Greg McCunn. "Including Asumura, we now have two greenfield projects, both of which are located in prospective geological regions."

Galiano currently operates and manages the Asanko gold mine, located in Ghana, West Africa, which is jointly owned with Gold Fields.

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