Deepest Hole to Date at Oko Intercepts 14.2 g/t Au over 8.3m
2022-01-25 06:00 ET - News Release
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES
TORONTO, Jan. 25, 2022 (GLOBE NEWSWIRE) -- G2 Goldfields Inc. (“G2” or the “Company”) (TSXV: GTWO; OTCQX: GUYGF) is pleased to report additional high-grade gold intercepts from the 19,200-acre OKO project, Guyana. G2 has completed 110 diamond drill holes to date totalling 26,995 metres. Assay results are currently available for the first 97 holes. The Company is led by an experienced management team which is directly responsible for the discovery of more than seven million ounces of gold in the Guiana Shield, one of the world’s most prolific greenstone belts (RPA, 43-101, Technical Report on the Aurora Gold Mine, March 31, 2020).
The Company is reporting results from an additional two diamond drill holes, holes OKD-96 and 97, with hole 96 further establishing “Shear 5” as having both significant grades and widths.
OKD-96
| Hole ID | From | To | Int (m) | True Width | Au g/t | Shear |
| OKD-96 | 304.2 | 306.1 | 3.9 | 3.3 | 8.0 | Shear 3 |
| OKD-96 | 441.1 | 449.5 | 8.3 | 7.0 | 14.2 | Shear 5 |
| OKD-96 | 461.8 | 463.6 | 1.8 | 1.1 | 7.1 | Shear 5 |
Weighted average grades are calculated based on un-capped gold assays, as insufficient drilling has been completed to determine capping limits for gold assays.
The lower two intercepts are the deepest to date in Shear 5, starting at a vertical depth of 358 metres, which remains open in all directions. A cross section illustrating some of the intersections to date is available below or at the following link https://g2goldfields.com/wp-content/uploads/2022/01/G2_OKD_95_96_07_Jan214.pdf.
A Media Snippet accompanying this announcement is available by clicking on the image or link below:
The table below demonstrates the exceptional intersections to date in the zone.
Table of high-grade hits in Shear 5
| Hole Number | Intersection (m) | Grade (g/t Au) |
| OKD-60 | 1.2 | 13.8 |
| OKD-66 | 5.7 | 15.3 |
| OKD-67 | 2.1 | 27.7 |
| OKD-74 | 4.6 | 38.6 |
| OKD-75 | 2.6 | 9.7 |
| OKD-81 | 2.5 | 12.4 |
| OKD-85 | 3.9 | 23.6 |
| OKD-85 | 5.0 | 28.4 |
| OKD-95 | 16.0 | 8.4 |
| OKD-96 | 8.3 | 14.2 |
| OKD-97 | 5.9 | 18.1 |
The intercepts reported are down-hole widths. Weighted average grades are calculated based on un-capped gold assays, as insufficient drilling has been completed to determine capping limits for gold assays.
Hole OKD-97
| Hole ID | From | To | Int (m) | True Width | Au g/t | Shear |
| OKD-97 | 168.4 | 171.6 | 3.2 | 2.6 | 8.1 | Shear 3 |
| OKD-97 | 306.4 | 312.4 | 5.9 | 5.2 | 18.1 | Shear 5 |
Weighted average grades are calculated based on un-capped gold assays, as insufficient drilling has been completed to determine capping limits for gold assays.
In an area defined by previous data scarcity, hole OKD-97 has now confirmed the continuity of high-grade mineralization, as indicated by the model of shears 3 and 5.
Table of high-grade results in Shear 3
| Hole Number | Intersection (m) | Grade (g/t Au) |
| OKD-65 | 5.0 | 19.0 |
| OKD-66 | 1.7 | 33.3 |
| OKD-68 | 3.8 | 10.2 |
| OKD-77 | 8.4 | 5.7 |
| OKD-81 | 6.2 | 8.8 |
| OKD-88 | 3.1 | 10.8 |
| OKD-89 | 6.3 | 16.4 |
| OKD-92A | 4.1 | 8.6 |
| OKD-94A | 3.5 | 8.1 |
| OKD-96 | 3.9 | 8.0 |
| OKD-97 | 3.2 | 8.1 |
The intercepts reported are down-hole widths. Weighted average grades are calculated based on un-capped gold assays, as insufficient drilling has been completed to determine capping limits for gold assays.
Dan Noone, CEO, states, “We are extremely upbeat about the growth potential of the OMZ. The aggressive step-outs down dip and along strike, repeatedly display the continuity and predictability of this exceptional high grade gold system.”
Boaz Wade, V.P. Exploration, further comments, “The Shear 5 intercept of hole 96 further extends mineralisation and demonstrates that high grade zones of significant widths form a coherent mineralised body. This is characteristic of the Oko Gold System, and we remain focused on systematically extending these zones in addition to advancing exploration across the remainder of the Oko-Aremu district.”
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.