G2 Goldfields Continues to Extend High Grade Zones at OKO – 58 g/t Au over 3.7 metres
September 19 2022 - 9:25AM
)
G2 Goldfields Inc. (“
G2” or
the “
Company”) (TSXV: GTWO; OTCQX:
GUYGF) continues to expand and define high grade gold
mineralization at the Company’s 19,200-acre OKO project, Guyana.
The Company has completed 131 diamond drill holes to date of which
a further eight holes are reported herein.
Drilling is focussing on expanding and further defining the
Company’s initial resource estimate of 974,000 oz (@ 9.25 g/t Au)
inferred and 220,000 oz (@ 8.63 g/t Au) indicated (see press
release dated April 26, 2022). G2 Goldfields intends to release an
updated resource estimate in Q1 2023.
Highlights of the current drill results include the
following:
|
• |
Hole OKD-120 |
9.5 g/t Au |
over |
7.8 m |
(from 174.2 m) |
|
|
• |
Hole OKD-121 |
12.7 g/t Au |
over |
6.0 m |
(from 305.8 m) |
|
|
• |
AND |
58.0 g/t Au |
over |
3.7 m |
(from 467.1 m) |
|
|
• |
Hole OKD-123 |
7.0 g/t Au |
over |
9.6 m |
(from 317.5 m) |
|
A complete list of assay results from the current drilling is
available here. Reported intercepts vary between 72% and 87% of the
true widths of mineralization.
Discussion
DDH OKD-120 – 9.5 g/t Au over 7.8m
This intercept pierced the northern part of Shear Zone 3 and
adds confidence to the high-grade nature of this zone.
DDH OKD-121 – 12.7 g/t Au over 6m & 58 g/t Au over 3.7m
The upper section of this hole provides further evidence of the
high-grade shoots within Shear 3. The lower intercept is 397m below
surface and is the deepest intercept in Shear 5 to date, extending
mineralization a further 87m down dip from previously reported
OKD-115 (37.2 g/t Au over 4.2m). Shear Zone 5 currently has
inferred resources of 511,000 oz at 11.55 g/t Au.
DDH OKD-123 – 7 g/t over 9.6m
The intercept confirms the continuity of mineralization below
the -180m RL in Shear 3 which remains open to depth.
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 7 million ounces of
gold in Guyana and the financing and development of Guyana’s
largest gold mine (RPA, 43-101, Technical Report on the Aurora Gold
Mine, March 31, 2020). 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
NooneCEO+1.416.628.5904Email: news@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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