G2 Goldfields Drills 50m @ 1.71 g/t Au in New Zone & Trenches 36m wide Stockwork with V.G.
TORONTO, Nov. 30, 2022 (GLOBE NEWSWIRE) -- G2 Goldfields Inc. (“G2” or the “Company”) (TSXV: GTWO; OTCQX: GUYGF) announces that drilling
at its 19,200-acre OKO gold project has intersected a new surface zone of broad disseminated gold mineralization. In addition, mechanical trenching over 500m to the north of this new drill
intersection has exposed wide zones of stockwork style mineralization within similar host rocks, from which considerable amounts of free gold have been observed in pan concentrates.
These discoveries have the potential to add significant additional near surface gold resources to G2’s initial maiden resource estimate, announced April 25, 2022, for the OKO MAIN ZONE (OMZ). Significantly, these new discoveries are between the OMZ and Reunion Gold’s OKO West discovery, and are hosted within magnetite rich metamorphic host rocks, identical to the host rocks at Reunion’s Block 4 discovery.
Drilling and trenching targeted a newly defined 1.2 km long zone of anomalous gold in soils and saprolite. Previous drilling in 2020 & 2021 (OMZ series holes on Exhibit 1), although encountering intriguing intercepts, appears to have missed most of the zones encountered in the current program. Generally, the previous holes were collared too far to the west, and thus drilled into the intrusion rather than the main shear. A compilation of the historical holes is available here.
In the current program, twelve diamond drill holes (totalling 1,356 m) and two excavator trenches (totalling 495 m) have been completed. Assays are currently available for the first four holes. Results are tabulated below.
TABLE 1
Hole ID | From | To | Int (m) | Au g/t |
GDD-01 | 96.00 | 108.50 | 12.50 | 0.91 |
GDD-02 | 95.00 | 116.00 | 21.00 | 1.01 |
GDD-03 | 90.00 | 93.00 | 3.00 | 1.74 |
GDD-04 | 21.00 | 71.00 | 50.00 | 1.71 |
Incl. | 55.50 | 69.40 | 13.90 | 5.09 |
Significant intervals in this press release have been calculated using a grade cutoff of 0.3 g/t Au and up to 10 meters maximum length of internal waste. Included significant intervals have been calculated using a grade cutoff of 1.0 g/t Au, a minimum length of three meters, and up to three meters maximum length of internal waste. Gold grades are uncapped. Mineralized intersection lengths are not necessarily true widths.