News G2 Continues to Intersect Multiple High Grade Intercepts Including 52.7 g/t Au over 7.4m and 37.2 g/t Au over 4.2m
TORONTO, March 22, 2022 (GLOBE NEWSWIRE) -- G2 Goldfields Inc. (“G2” or the “Company”) (TSXV: GTWO; OTCQX: GUYGF) continues to intersect some of the best diamond drill holes to date at the 19,200-acre OKO Project, Guyana. The Company has completed 116 diamond drill holes at the Oko Main Zone (OMZ) and expects to deliver a maiden resource estimate for the project in mid-April. G2 controls over 17 kilometres of highly prospective ground in this emerging district and has identified seven areas outside the OMZ for further exploration work including geochemistry, geological mapping, geophysics, and diamond drilling. Highlights from the current round of drilling at the OMZ include:
| | – | 10.1 | g/t Au over | 3.5 m | (from 150.3 m) |
| AND | – | 52.7 | g/t Au over | 7.4 m | (from 297.3 m) |
| | – | 9.3 | g/t Au over | 2.3 m | (from 19.7 m) |
| AND | – | 64.7 | g/t Au over | 2.6 m | (from 116.8 m) |
| | – | 37.2 | g/t Au over | 4.2 m | (from 421.3 m) |
A complete list of assay results from the current round of drilling is available at the following link https://g2goldfields.com/wp-content/uploads/2022/03/AssayTableMarch22.pdf. The OMZ long section below includes the latest holes as well as previous high-grade intercepts and can also be viewed here.
A Media Snippet accompanying this announcement is available by clicking on the image or link below:
Discussion
The recent drilling results further reveal the exceedingly high-grade nature of the OMZ deposit and demonstrate the level of accuracy in the Company’s geological model to date. The following results instil confidence in the continuity of mineralization which the Company consistently hit throughout its maiden drilling campaign. During the ongoing program, approximately 70% of reported holes have contained coarse visible gold.
OKD-113 – 7.4m @ 52.7 g/t Au
This intercept is from the Shear 5 zone which has proven to be both consistent and very high grade. This hit lies 274m below surface and is 35 meters up-dip of hole OKD-66 which returned 15.3 g/t Au over 5.7m.
OKD-114 – 2.6m @ 64.7 g/t Au
The lower intercept of this hole successfully infilled a 100m x 80m drilling gap in Shear 4 and indicates the potential for a high-grade zone in the southern part of the structure.
OKD-115 – 4.7m @ 37.2 g/t Au
Hole OKD-115 is the most significant diamond drill hole in this release. As an 80m step-out from previous high-grade intercepts, this intercept lies at a vertical depth of 340m. Vitally, OKD-115 supports the development of a high-grade shoot open at depth to the north as illustrated in the Shear 5 long section below and at this link.
A Media Snippet accompanying this announcement is available by clicking on the image or link below:
Dan Noone, CEO, stated, “Hole OKD-115 confirms G2’s model of a NE plunging trend to the high-grade mineralisation and opens up significant down plunge potential on all five Shears currently known to date. These latest results will be incorporated into the upcoming maiden resource estimate for the project now scheduled for mid-April.”
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 Noone
CEO
+1.416.628.5904
Email: news@g2goldfields.com
Forward Looking Statements
...........Bluetick