G2 Goldfields Provides Exploration Update

TORONTO, April 15, 2024 (GLOBE NEWSWIRE) -- G2 Goldfields Inc. (“G2” or the “Company”) (TSX: GTWO; OTCQX: GUYGF) is pleased to provide an update on the ongoing exploration program at the Company’s 27,719 acre OKO-AREMU gold project. G2 recently announced an updated Mineral Resource Estimate (“MRE”) for the OKO-Aremu Project comprised of 922,000 ounces of gold (“Indicated”) and 1,099,000 ounces of gold (“Inferred”) [see press release dated April 03, 2024].

The entirety of the reported gold resource lies within 500 meters of surface and contains a high grade core of 688,000 ounces Au at 9.03 g/t Au (Indicated) and 495,000 ounces Au at 6.38 g/t Au (Inferred) at the OKO MAIN ZONE (OMZ).

Recent drill results confirm the prospectivity of the area between the high grade OMZ resource and Ghanie open pit area, approximately 1 km to the south. The Ghanie Resource currently hosts 236,000 ounces Au (Indicated) and 604,000 ounces Au (Inferred).

Figure 1

Ghanie Area Drilling Results

Since February, G2 has completed an additional twenty drill holes (8,600 meters) at Ghanie, for a total of 124 holes totalling 25,520 meters to date in the greater Ghanie area [see press released February 22, 2024].

Figure 2

Results from an additional five holes are reported herein and continue to establish significant widths of gold mineralization in the lower (-400m) part of the Ghanie Central area. Highlights include 24m @ 2.9 g/t Au (GDD-92) including 3.0m @ 7.0 g/t Au as well as 10.5m @ 4.5 g/t Au (GDD-90), including 4.5m @ 6.7 g/t Au. A complete table of results is available here.

At the Ghanie North area, hole GDD-93 returned 24.5m @ 5.3 g/t Au (including 4.5m @ 25.2 g/t Au). This intercept lies within a relatively unexplored 1 km long section of the Oko structure that is currently being drilled by G2. Near surface drilling results from the 2023 program include 36.2m @ 0.9 g/t Au (GDD-15), 45.9m @ 0.9 g/t Au (GDD-16) and 27m @ 1.2 g/t Au (GDD-51) as well as 1.5m @ 69.3 g/t Au (GDD-43) and 1.5m @ 45.6 g/t Au (GDD-01). Current drilling has intercepted visible gold (VG) in two holes well outside the current geological model (GDD-104 and GDD-109, a shallow drill hole approximately 200m north of GDD-104). Assays are pending from a further fifteen holes in the Ghanie district.