Osino Resources Corp. (TSX-V: OSI) is excited to announce the discovery of a major new gold bearing trend located in the southern central zone of the Damara orogenic belt, stretching from the producing Navachab Gold Mine to Osino’s Okapawe target, more than 40km to the northeast.
The Karibib Gold Trend is defined by a large-scale, deep, basin margin structure (the Karibib Fault) which is visible in the regional aeromagnetic data. It has been sampled over a strike length of 20km to date and continues for a further 30km to the southwest. A number of significant soil anomalies (Twin Hills, OJW and Okapawe) have been discovered along the fault zone which appears to be mineralized throughout its length. The soil anomalies are in the range of 100 to 400ppb gold against a background of less than 5ppb and are between 1km and 4km in length following the regional northeast trend. The mineralized prospects occur in association with splays, bends and syn-tectonic granite intrusions, typical of fertile orogenic belts.
The remaining portion from Twin Hills to the Navachab Gold Mine is currently being explored and further discoveries are considered likely.
The figure above indicates the location of the Karibib Gold Trend and major soil anomalies discovered to date. Osino has now consolidated its ground holding from the Goldkuppe prospect in the northeast all the way to the producing Navachab Gold Mine in the southwest. Also indicated is the location of the major marble marker horizon and the area to be covered by aeromagnetics and sampling between Twin Hills and Navachab during the rest of 2018.
In the press release dated 11 July, 2018, the gold corridor was referred to as the Khan River Gold Corridor as it was initially named when the presence of a mineralized system was noted near the Khan river, which is a significant local feature. This has now been changed to the Karibib Gold Trend to reflect its growing and more regional extent.
Drill Results and Interpretation
As reported in a press release dated 11 July, 2018, a short scout drill program (RC and DD) was undertaken during April and May of 2018 with 23 holes at the Twin Hills prospect and 6 at Okapawe. The drill results to date at Twin Hills confirm the presence of gold within a large-scale hydrothermal alteration system along splays from the basin margin fault and stretching at least 3.5km in strike length. Gold grades increase with depth and the next round of drilling will target the mineralized system down dip and towards the west where the splays intersect the Karibib fault to locate higher grade portions of this large system.
The holes drilled were drilled to 100m in average length and at an inclination of 60 degrees towards the southeast. The gold mineralization is contained within a package of quartz biotite schists and is associated with quartz sericite arsenopyrite and pyrite alteration. Structural measurements made on core and on outcrop at Twin Hills indicate that the gold mineralization may be controlled by localized folding immediately to the south of the Karibib Fault. Significant intercepts are presented in Table 1 below. There are also additional long intercepts of low grade but anomalous bedrock.
Recent detailed field mapping and rock chip sampling at Twin Hills has indicated the presence of a second parallel mineralized zone to the north of the drilled zone. Rock chip samples collected have returned several positive samples including a peak value of 25g/t in a sulphide bearing quartz vein.
Future Work Program
In the coming months, Osino will focus on exploring the Karibib Gold Trend to the southwest of Twin Hills where it continues a further 30km towards the Navachab Gold Mine. The work to be undertaken will include a detailed aeromagnetic survey, geological mapping, soil and calcrete sampling followed by RAB drilling.
A second round of reverse circulation and core drilling is planned for early 2019, once the remaining Karibib Gold Trend has been explored southwest to Navachab and further drill targets have been identified and ranked.
Table 1: Significant Twin Hills Drill Assay Results
|Prospect||Hole ID||From||To||Interval||Au Grade||Azimuth||Dip||Type|
Table 2: Twin Hills Rock Chip Sample Results on Northern Trend
|Twin Hills Northern Trend||R9,455||25.00||Vein Qz, White to Grey, FeOx|
|Twin Hills Northern Trend||R9,166||9.05||Vein Qz, Clear to White, Minor FeOx|
|Twin Hills Northern Trend||R9,447||7.61||Vein Qz, Clear to White, Minor FeOx|
All Osino sample assay results have been independently monitored through a quality control/quality assurance program including the insertion of blind standards, blanks and pulp and reject duplicate samples. Logging and sampling are completed at Osino’s secure facility located in Omaruru near the Karibib Project. Drill core is sawn in half on site and half drill-core samples are securely transported to the Actlabs sample prep facility in Windhoek, Namibia. RC chips are split at the drill rig using a riffle splitter until a 5-7kg sample is obtained. The core and chips are dried, crushed to 95% -10mesh, split to 250g and pulverised to 95% -150mesh. Sample pulps are sent to Ontario, Canada for analysis. Gold analysis is by 30g fire assay with AA finish and automatically re-analysed with Gravimetric finish if Au >5 g/t. In addition, pulps undergo 4-Acid digestion and multi-element analysis by ICP-AES or ICP-MS.
David Underwood, a Chartered Professional Geologist (SACNASP), and a Qualified Person for the purposes of National Instrument 43-101 Standards of Disclosure for Mineral Projects for the Karibib Gold Project has reviewed, verified and approved the contents of this news release.
About Osino Resources
Osino Resources Corp. is a Canadian company, focused on the acquisition and development of gold projects in Namibia. Osino’s Namibian interests comprise eighteen exclusive exploration licenses located within the central zone of Namibia’s prospective Damara belt, mostly in proximity to and along strike of the producing Navachab and Otjikoto Gold Mines. Osino is currently focusing its efforts on developing the flagship Karibib Gold Project and defining new exploration targets in the Otjikoto East area and on our other licenses. The Karibib Gold Project is located approximately 130 km north-west of Namibia’s capital city Windhoek.
By virtue of its location, the projects benefit significantly from Namibia’s well established infrastructure with paved highways, railway, power and water in close proximity. Namibia is mining-friendly and lauded as one of the continent’s most politically and socially stable jurisdictions. Osino continues to evaluate new ground with a view to expanding its Namibian portfolio.
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