G2 Goldfields Inc. Announces Drill Results Including 27m @ 5.22 g/t Au & 24m @ 6.9 g/t Au at OKO/AREMU
TORONTO, Nov. 20, 2019 - G2 Goldfields Inc. (TSXV: GTWO) (the “Company” or G2) announces initial results from its maiden drilling program at the OKO/AREMU property, region 7, Guyana. Drill results to date have indicated significant and widespread gold mineralization over a 750 m strike length with current drilling attempting to expand the strike limits of mineralization beyond 1 km. Drilling has focused only on the OKO deformation zone (ODZ) (see press release dated November 8, 2019). Results are tabulated in Table 1.
|DRILL HOLE||FROM (m)||TO (m)||INTERVAL||GRADE G/T (AU)|
Widths are drill indicated core length as insufficient drilling has been undertaken to determine true widths at this time. Average grades are calculated with un-capped gold assays, as insufficient drilling has been completed to determine capping levels for higher grade intercepts.
Hole OKD-1, the “discovery hole”, returned a core length intersection of 27 m @ 5.22 g/t Au which includes high grade intercepts of 6 m @ 15.8 g/t Au as well as 2m @ 7.8 g/t Au. Hole OKD-2, returned 43.6 m @ 1.4 g/t Au, (including 3m @ 4.6 g/t Au).
OKD-3 returned 24 m @ 6.9 g/t Au (including 12.0m @13.8 g/t Au) and OKD-7 intercepted 20 m @ 2.8 g/t Au (including 1.7 m @ 30.8 g/t Au), 21 m @ 2.1 g/t Au (including 2.7 m @ 15.8 g/t Au). These four holes collectively explored approximately 200 m of the OKO deformation zone.
Drill holes OKD-4, OKD-5 and OKD-6 were designed to investigate an area approximately 250 m further south of the discovery. Hole OKD-4 returned 7 m @ 1.8 g/t Au ( including 1.7m @30.8 g/t Au OKD-5 intercepted 31.5 m @ 2.9 g/t Au (including 8.2 m @ 9.1 g/t Au) and OKD-6 returned 15 m @ 1.1 g/t Au (including 2.7 m @ 5.8 g/t Au) These are the most southerly holes drilled to date in the ODZ, and further drilling is planned for this area.
Approximately 300 meters north of the discovery, G2 drilled holes OKD-8 and OKD-9. Drill hole OKD-8 intercepted 6 m @ 1.5 g/t Au (including 1.5 m @ 5.2 g/t Au) and OKD-9 returned 10 m @ 1.9 g/t Au (including 2.3 @ 7.8 g/t Au). The Company is currently drilling a further 200 m north of this area in an attempt to establish gold mineralization over a + 1 km strike length.
To view Figure 1 - Drill Results please visit the following link: https://www.globenewswire.com/NewsRoom/AttachmentNg/da4d63b2-02c8-4969-8b2a-b0cf042063ad
G2 is very pleased with these initial results for the following reasons:
- Some of the holes have very significant cores lengths of gold mineralization
- The mineralization is near surface with all the mineralized intercepts above 125 m vertical
- Drilling has indicated an initial 750 m strike length in the ODZ Zone, with mineralization remaining open to the north and south. Additionally, a + 1 km long soil anomaly which lies parallel to the ODZ remains untested
“We are off to a flying start with a brand-new discovery that looks promising and remains open at depth, as well as to the north and south. We also have another three major target areas to explore in this district. To this end we have gone to two shifts on the initial rig and are mobilizing a second rig for the New Year. Its still very early, but with its long history of gold mining, abundant surface gold showings and soil anomalies, and relative ease of access, the Company’s OKO/AREMU property looks like it could continue to deliver positive results for our shareholders,” said Patrick Sheridan, CEO.
Dan Noone, V.P. of Exploration, says, “The excellent results from drilling to date reinforce the gold mineralization model that we have developed from surface mapping and sampling. These are the first holes ever drilled into the Oko project. The knowledge we have gained from these initial holes gives us great confidence in our ability to continue to target zones of high-grade gold mineralization at Oko.”
Drill core is logged and sampled in a secure core storage facility located on the Oko project site, Guyana. Core samples from the program are cut in half, using a diamond cutting saw, and are sent to MS Analytical Guyana, in Georgetown, Guyana, which is an accredited mineral analysis laboratory, for analysis. All samples are analysed for gold using standard Fire Assay-AA (atomic absorption) techniques. Samples returning over 10.0 g/t gold are analyzed utilizing standard fire assay gravimetric methods. Certified gold reference standards, blanks and field duplicates are routinely inserted into the sample stream, as part of G2 Goldfield’s quality control/quality assurance program (QAQC). No QA/QC issues were noted with the results reported herein.
About G2 Goldfields Inc.
G2 Goldfields Inc. is a Toronto based mineral exploration company focused on the exploration and development of the Sandy Lake Gold project in Canada and the Aremu/Oko and Peters Mine projects in Guyana. The Sandy Lake gold project comprises an approximate 51,000 hectares of contiguous mineral claim units in the underexplored Sandy Lake Archean Greenstone Belt in Northwestern Ontario. The Aremu/Oko and Peters Mine properties are two of the four past producing historical mines in Guyana. The properties total approximately 25,888 acres and are located in the Cuyuni-Mazarumi Region (Region 7) of north-central Guyana in the Guiana Shield.
All scientific and technical information in this press release has been prepared under the supervision of Dan Noone (Director of G2 Goldfields Inc.), a “qualified person” within the meaning of National Instrument 43-101. Mr. Noone (B.Sc Geology, MBA) is a member of the Australian Institute of Geoscientists.
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