G2 Goldfields Drills High Grade Intercepts at Oko
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TORONTO, April 15, 2020 (GLOBE NEWSWIRE) -- G2 Goldfields Inc. (TSXV: GTWO) (the “Company” or “G2”) announces drill results from the ongoing drilling program at the Oko – Aremu project,
Guyana. The 19,200-acre project contains multiple areas of mineralization, the most prominent of which include the Aremu Mine Zone (AMZ) and Oko Deformation Zone (ODZ). G2 has completed
37 holes in the ODZ of which 9 are reported in this release. Drill highlights from current drilling in the ODZ include:
116.6 g/t Au over 2.4 meters (OKD-24) – this hole is the most southerly drill hole to date for which assays are currently available and represents one of the highest-grade
intersections to date at the Oko project.
19.5 g/t Au over 4.0 meters (OKD-27) – the hole was designed to expand on the shallow high-grade gold mineralization in previously reported hole OKD-17 (1.4 m @ 8 g/t Au &
4.1 m @ 12.9g/t Au).
7.2 g/t Au over 11.7 meters (OKD-20) – diamond drill hole OKD-20 targeted shallow high-grade mineralization intersected in previously reported hole OKD-1 (5.2 g/t Au over 27
- 30.8 g/t Au over 2.2 meters (OKD-28) – this hole represents the deepest hole drilled to date for which assays are available; hole OKD-28 intersected high-grade gold mineralization at vertical depths of approximately 130 meters.
Mineralized intervals reported in new holes in this release represent approximately 75% to 80% true widths. A complete table of results is available at the following link https://www.g2goldfields.com/wp-content/uploads/2020/04/Table1.pdf.
A plan view of the drilling to date is available below as Figure 1 or is also available at the following link https://www.g2goldfields.com/wp-content/uploads/2020/04/Figure1.pdf.
A Media Snippet accompanying this announcement is available by clicking on the image or link below:
The ODZ area is characterized by multiple open-pits and shafts along a prominent 2-kilometer-long north-south trending deformation zone. Drilling has encountered gold mineralization in every hole, with apparent continuity of high-grade gold mineralization on both the vertical and horizontal planes.
Dan Noone, CEO of the Company, stated “I am delighted that this phase of the drilling has confirmed the consistency and predictability of the high-grade gold mineralization along strike and down dip. Every hole has hit this relatively linear zone of mineralization within meters of where our model predicted. We consistently log visible gold within the silica flooding along the Carbonaceous Shale and Sandstone contact. Parallel zones intersected to the east and west of the target zone provide further targets for follow up. To the south, the mineralization is open and 3 shafts and multiple open pits trace the mineralization for a further kilometer. To the northwest, a gold in soil anomaly extends for several kilometers. We believe we have only just started to test the extent of this high-grade gold discovery”.
Patrick Sheridan, G2 Chairman, stated, “It’s early days in this exploration campaign but these initial twenty-eight holes have established significant strike length of gold mineralization at Oko. Drilling to date has been very shallow with the vast majority of intercepts above 110 meters vertical. We look forward to aggressively drilling this trend off both along strike and to depth, as well as establishing other potential zones of mineralization. In the Aremu-Oko district, G2 has kilometers of highly prospective mineralization which it intends to aggressively explore.”
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 MSALABS Guyana, in Georgetown, Guyana, which is an accredited mineral analysis laboratory, for analysis. Samples from sections of core with obvious gold mineralization are analyzed for total gold using an industry standard 500g metallic screen fire assay (MSALABS method MSC 550). All other samples are analysed for gold using standard Fire Assay-AA with atomic absorption finish (MSALABS method; FAS-121). Samples returning over 10.0 g/t gold are analyzed utilizing standard fire assay gravimetric methods (MSALABS method; FAS-425). 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 focused on the discovery of large gold deposits in the Guiana Shield. The Company owns a 100% interest in two past gold producing mines, as well as a regional portfolio of highly prospective projects.
All scientific and technical information in this press release has been prepared under the supervision of Dan Noone (CEO 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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Forward Looking Statements
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