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G2 Drills 15m @ 6.3 g/t Au; 10.3m @ 3.7 g/t Au and 41.5m @ 0.75 g/t Au in new Discovery Area

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G2 Drills 15m @ 6.3 g/t Au; 10.3m @ 3.7 g/t Au and 41.5m @ 0.75 g/t Au in new Discovery Area

 

 

 

 

 

G2 Goldfields Inc. (TSX-V: GTWO) (OTCQX: GUYGF) is pleased to announce assay results from the Company’s recently completed maiden reconnaissance diamond drill program at the Northwest OKO prospect, Guyana. NW OKO is the third discovery on G2’s 27,719-acre project and is part of a 17-km-long mineralized corridor that hosts numerous historical gold workings. NW OKO is centred approximately 3 km from the Company’s high-grade (i.e., + 9 g/t Au) gold resource at the OMZ area [see press release dated April 25, 2022]. Significantly, multiple diamond drill holes have intersected disseminated gold mineralization over considerable widths within the 70m thick saprolitic horizon.

 

 

In late 2023, G2 completed a 24-hole, 2,329-meter scout drilling program at NW OKO. Significant disseminated gold mineralization was encountered in holes NWOD 2, 9, and 10, which returned mineralized intercepts of 47.5m @ 0.6 g/t Au, 41.5m @ 0.75 g/t Au, and 9m @ 2.1 g/t Au, respectively. Additionally, comparatively higher grade, yet still near-surface mineralization, was intercepted in holes NWOD 1 & 22, which returned 10.3m @ 3.7 g/t Au and 15m @ 6.3 g/t Au, respectively. A complete set of drill results is available here.

 

The NW OKO shear structures are hosted on the boundaries of ductile carbonaceous mudstones and more competent siltstones and sandstones. The discovery area remains open in both directions and there is potential for establishing parallel corridors of mineralization, as evidenced by anomalous soil values and/or extensive alluvial workings.

 

G2 currently has an ongoing drill program at the OKO NW discovery whilst greenfields exploration work continues in other areas.

 

Patrick Sheridan, Executive Chairman, commented, “The NW OKO discovery, our third on this district scale property to date, further demonstrates the potential of the OKO-Aremu project. G2 is laser focused on continuing to grow the gold resource at OKO, and with the completion of our recent $22.05 million financing with AngloGold Ashanti (AU-NYSE), we are fully financed to execute further drill programs in this emerging gold district. G2 remains steadfast in adding value through greenfield discoveries, resource expansion and proactively preparing for permitting a mine.”

 

About G2 Goldfields Inc.

 

The G2 Goldfields team is comprised of professionals who have been directly responsible for the discovery of millions of ounces of gold in Guyana as well as the financing and development of the Aurora Gold Mine, Guyana’s largest gold mine. G2 announced its maiden mineral resource estimate on the newly discovered Oko property in Guyana (see press release dated April 25, 2022), and has filed on SEDAR+ an independent technical report entitled “NI 43-101 Technical Report and Mineral Resource Estimate for the Oko Gold Property, Cooperative Republic of Guyana, South America”, with an effective date of April 14, 2022.  Mineral Resources are estimated by Dr. Tania Ilieva, Ph.D., P.Geo. and Alan San Martin, MAusIMM(CP), consultants of Micon International Limited.

 

Highlights of the report include:

  • 974,000 oz. Au – Inferred Mineral Resource contained within 3,274,000 tonnes @ 9.25 g/t Au; and
  • 220,000 oz. Au – Indicated Mineral Resource contained within 793,000 tonnes @ 8.63 g/t Au.

 

Significantly, all of the maiden mineral resources lies within 350 meters of surface and remains open down plunge. The Oko district has been a prolific alluvial goldfield since its initial discovery in the 1870’s, and modern exploration techniques continue to reveal the considerable potential of the district.

 

All scientific and technical information in this news release has been reviewed and approved by 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 Fellow of the Australian Institute of Geoscientists.

 

Posted February 13, 2024

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