• Galiano Gold will invest at least C$17mln in gold exploration in Ghana in 2026.
• The budget is up 70% year on year and targets reserve growth at the Asanko mine.
• Drilling programs are planned at Abore and Esaase, with updated estimates due in 2027.

Galiano Gold plans to invest at least C$17 million ($12.5 million) in gold exploration in Ghana, the company said in a statement released on January 29. The move represents a 70% year-on-year increase in its initial exploration budget, as the company seeks to expand reserves at its Asanko gold mine.

The exploration work budgeted for 2026 aims to update the mine’s life and finalize an updated estimate of mineral reserves and resources by 2027. A 30,000-meter drilling program is planned at Abore, one of Asanko’s flagship deposits, with the potential for a first estimate of underground mineral reserves in 2027.

At Esaase, another major deposit at the Asanko mine, Galiano plans to carry out 9,000 meters of drilling starting in February 2026. An updated estimate of resources and reserves is also expected there in 2027. According to the latest estimate published in January 2025, the Abore deposit hosts 458,000 ounces of probable gold reserves, compared with 533,000 ounces at Esaase. Together, the two deposits account for nearly half of the mine’s 2 million ounces of probable reserves. Whether classified as proven or probable, reserves provide the most reliable picture of economically recoverable ore and are used to assess a mine’s operating life.

Under Galiano’s current production plan presented in January 2025, the Asanko mine is expected to deliver between 180,000 and 210,000 ounces of gold in 2026, rising to as much as 260,000 ounces by 2029. This ramp-up is expected to be supported by the discovery of new resources through exploration. However, drilling success alone does not guarantee delivery of a mine’s operating plan. While gold production of between 130,000 and 150,000 ounces had initially been forecast for 2025, the company has since cut its outlook to a maximum of 125,000 ounces.

Emiliano Tossou