G2 Goldfields
Inc. (“
G2” or the
“
Company”) (TSXV: GTWO; OTCQX: GUYGF) announces
diamond drilling has intersected visible gold in multiple holes at
the Company’s 19,200-acre OKO project, Guyana. To date, the Company
has completed 102 diamond drill holes totalling 25,111 metres and
has two rigs turning 24/7.
Drilling has partially defined at least five parallel shear
zones at the Oko Main Zone (OMZ), with gold mineralization
encountered over a total strike length of approximately 900 metres
and vertical depths of approximately 400 metres. Gold
mineralization at OKO presents as visible gold within sheared
quartz veins in carbonaceous sediments. The mineralized shears
strike north-south, dip steeply to the east, and are continuous for
hundreds of metres along strike, down dip, and down plunge. Visible
gold is common at the OMZ with 64 of 102 holes logged to date
containing coarse visible gold.
A Media Snippet accompanying this announcement is available by
clicking on the image or link below:
The Company is reporting herein the results for seven additional
holes, OKD-78 through OKD-85 inclusive. The highlights are as
follows:
• OKD-81 |
8.8 g/t Au over 6.2 metres |
|
|
|
|
• OKD-84 |
23.6 g/t Au over 3.9 metres |
|
|
|
|
• OKD-85 and |
9.1 g/t Au over 6.6 metres28.4 g/t Au over 5.0 metres |
|
Assay intervals reported are core lengths, true widths for the
highlights vary between 3.4 and 5.6 metres. A full list of assay
results is available at the following
link https://g2goldfields.com/wp-content/uploads/2021/12/08DEC21TABLE1.pdf.
Discussion
- OKD-81The upper intercept of 8.8 g/t Au over 6.2 m is 72 metres
vertically below surface and is the most southern intercept in
Shear 3 to date (which remains open in all directions). The lower
intercept of 2.5 m @ 12.45 g/t Au in Shear 5 is 194 metres
vertically below surface and lies 45 metres south of the OKD-46
intercept of 0.7 m @ 33.7 g/t Au. Shear 5 remains open in all
directions and has returned some of the richest intercepts to date
at OKO.
- OKD-84This hole targets the up-dip projection of the Shear 5
intercept of OKD-74 (15.9 g/t Au over 6.8 m). OKD-84 intercepted
Shear 5, 65 metres above the OKD-73 intercept and returned 23.6 g/t
Au over 3.6 metres at a vertical depth of 103 metres. This hole is
the shallowest mineralized pierce point in Shear 5 to date.
- OKD-85OKD-85 successfully targeted Shears 4 and 5 with
intercepts of 6.6 m @ 9.1 g/t Au (Shear 4) and 5.0 m @ 28.4 g/t Au
(Shear 5). The Shear 4 intercept lies 65 metres down plunge of hole
OKD-77 (1.9 m @ 335.4 g/t Au) within a discrete south-east plunging
shoot. The lower intercept of 28.4 g/t Au over 5 metres lies 65
metres below the intercept in OKD-75 (3.2 m @ 9.7 g/t Au).
A Media Snippet accompanying this announcement is available by
clicking on the image or link below:
Dan Noone, CEO, states, “OKO continues to deliver exceptional
results for our shareholders, and we will continue to aggressively
delineate and expand these mineralized shears which remain open in
all directions.”
Boaz Wade, V.P. Exploration, commented, “The results from holes
78 to 85 validate our geological model and demonstrate the
continuity of the mineralized zones across the OKO gold system.
Additionally, several drill holes that are pending assays have
intersected visible gold which confirms that mineralization remains
open in multiple directions.”
QA/QC
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 analysed 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
analysed 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.
The G2 Goldfields team is comprised of professionals who have
been involved in the discovery of more than 8 million ounces of
gold in Guyana and the financing and development of Guyana’s
largest gold mine. The Oko Main Zone discovery is the initial fruit
of the application of this extensive in-country experience. Ongoing
exploration within the 17km long Aremu – Oko trend has generated
multiple drill targets, similar in geological setting and scale to
Oko Main. The Aremu – Oko district has been a prolific alluvial
goldfield since the rush of the 1870’s. Modern exploration by the
G2 Goldfields team has begun and continues to reveal the
exceptional potential of this district.
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.
For further information please contact:
Dan Noone CEO +1.416.628.5904 Email:
d.noone@g2goldfields.com
Forward Looking Statements
This news release contains certain forward-looking information
and statements within the meaning of applicable securities laws.
The use of any of the words “expect”, “anticipate”, “continue”,
“estimate”, “may”, “might”, “will”, “project”, “should”, “believe”,
“plans”, “intends” and similar expressions are intended to identify
forward-looking information and/or statements.
Forward-looking statements and/or information are based on a number
of material factors, expectations and/or assumptions of G2
Goldfields which have been used to develop such statements and/or
information, but which may prove to be incorrect. Although G2
Goldfields believes that the expectations reflected in such
forward-looking statements and/or information are reasonable, undue
reliance should not be placed on forward-looking statements as G2
Goldfields can give no assurance that such expectations will prove
to be correct. In addition to other factors and assumptions which
may be identified herein assumptions have been made regarding,
among other things: results from planned exploration and drilling
activities; future plans for operational expenditures; the accuracy
of the interpretations of exploration and drilling activity
results; availability of financing to fund current and future plans
and expenditures; the impact of increasing competition; the general
stability of the economic and political environment in which G2
Goldfields has property interests; the general continuance of
current industry conditions; aboriginal matters; the timely receipt
of any required regulatory approvals; the ability of G2 Goldfields
to obtain qualified staff, equipment and/or services in a timely
and cost efficient manner; the ability of the operator of each
project in which G2 Goldfields has property interests to operate in
a safe, efficient and/or effective manner and to fulfill its
respective obligations and current plans; future commodity prices;
currency, exchange and/or interest rates; and the regulatory
framework regarding royalties, taxes and/or environmental matters
in the jurisdictions in which G2 Goldfields has property interests.
The forward-looking information and statements included in this
news release are not guarantees of future performance and should
not be unduly relied upon. Such information and/or statements,
including the assumptions made in respect thereof, involve known
and unknown risks, uncertainties and other factors that may cause
actual results and/or events to differ materially from those
anticipated in such forward-looking information and/or statements
including, without limitation: risks associated with the
uncertainty of exploration results and estimates, currency
fluctuations, the uncertainty of conducting operations under a
foreign regime, exploration risk, the uncertainty of obtaining all
applicable regulatory approvals, the availability of labour and/or
equipment, the fluctuating prices of commodities, the availability
of financing and dependence on the management personnel of
the Corporation, other participants in the property areas and/or
certain other risks detailed from time-to-time in G2 Goldfields
public disclosure documents (including, without limitation, those
risks identified in this news release and G2 Goldfields current
management’s discussion and analysis). Furthermore, the
forward-looking statements contained in this news release are made
as at the date of this news release and the Corporation does not
undertake any obligations to publicly update and/or revise any of
the included forward-looking statements, whether as a result of
additional information, future events and/or otherwise, except as
may be required by applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy and / or
accuracy of this release.
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