Galiano Gold Inc. (GAU) Reports Drilling Results for Abore Deposit; Scotiabank Reiterates 'Hold' Rating

With significant hedge fund interest and a share price under $5, Galiano Gold Inc. (NYSE:GAU) secures a place on our list of the 11 Best Gold Penny Stocks to Buy According to Hedge Funds (and Precious Metals Stocks).

On July 14, 2025, Galiano Gold Inc. (NYSE:GAU) reported results from a deep step-out drilling initiative at the Abore deposit, which is a part of the Asanko Gold Mine in Ghana. Abore is located strategically along the haul road to the processing plant with 638,000 ounces in Measured and Indicated Resources.

Mineralization over a 1,200-meter strike length, extending 200 meters below the current Mineral Reserve pit shell and remaining open in all directions, was intercepted across all four holes in the 1,907-meter campaign.

The results highlight potential for bulk underground mining, posing significant expansion opportunities. Building on the Phase 1 momentum achieved in May, Galiano Gold Inc. (NYSE:GAU) has initiated a Phase 2 infill drilling program. Under this second phase, the company will further test extensions immediately below existing Mineral Reserves and Resources.

Following the results, Scotiabank reiterated its ‘Hold’ rating on Galiano Gold Inc. (NYSE:GAU) with a $2.54 price target.

Operating through its Asanko Gold Mine, Galiano Gold Inc. (NYSE:GAU) explores for and produces gold. It is included in our list of the Best Penny Stocks.

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