The Prospector News

Osino Resources Makes New Drill Discovery at Clouds Target, Potential for Significant Increase in Mineralized Strike at Twin Hills Gold Project, Namibia

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

Osino Resources Makes New Drill Discovery at Clouds Target, Potential for Significant Increase in Mineralized Strike at Twin Hills Gold Project, Namibia

 

 

 

 

 

  • Assays received for 36 exploration drill holes from satellite targets (Clouds, Twin Hills West and Barking Dog) at Twin Hills.
  • These targets are brownfields targets along trend and within a 2500m radius from Twin Hills Central.
  • Significant new gold discoveries made at Clouds West and East, respectively 500m and 1500m east along strike from Twin Hills Central. Gold mineralization intersected includes:
    • 27m @ 1.22g/t (OKD059: 143 – 170), incl. 16m @ 1.74g/t (Clouds West)
    • 76m @ 0.75g/t (OKD093: 66 – 142m) incl. 37m @ 0.97g/t (Clouds East)
    • 22m @ 1.19g/t (OKD096: 120 – 142m) incl. 9m @ 2.44g/t (Clouds East)
  • Both Clouds East and West lie along a prominent, high-intensity IP anomaly along strike from Twin Hills Central, therefore potentially doubling the Twin Hills Central mineralized strike length from 1500 to over 3000m in length.
  • Rapid step-out drill program ongoing to define & delineate the resource potential at Clouds East and West, as well as the gaps in between, and Twin Hills Central.
  • Additional significant drill intercepts at Twin Hills West and Barking Dog further reinforce the brownfields exploration potential of the overall Twin Hills gold system.

 

Osino Resources Corp. (TSX-V: OSI) (FSE: RSR1) (OTCQB: OSIIF)  is pleased to provide an update on the brownfields exploration drilling at the Clouds, Twin Hills West and Barking Dog targets adjacent to and along trend from Osino’s Twin Hills Central gold project in north-central Namibia, where the Company holds a dominant 7,000 km2 land position. THC is part of the large, sedimentary-hosted and structurally controlled Twin Hills gold system which was discovered by Osino in 2019.

 

Significant assays received at Clouds West and East confirm the discovery of two new zones of gold mineralization, including higher grade shoots up to 1500m from the eastern edge of THC. The Clouds mineralization occurs along a strong IP anomaly, which appears continuous along the entire combined 3100m strike length (Figure 2 below indicates details of the Clouds drilling and coincident IP anomaly).

 

These new discoveries indicate the potential to double the mineralized strike at THC, thereby also significantly growing THC’s contiguous resource potential. A high intensity drill program has been put in place to drill out the Clouds targets and the gap between THC and Clouds before the end of Q1 2021.

 

David Underwood, Osino’s Vice President Exploration commented: 

“The mineralization drilled at Clouds West and East is a very exciting step forward and provides the first indication that economic mineralization at Twin Hills Central may double in an eastward direction to over 3000m in strike length. These new discoveries provide a glimpse of the substantial growth potential of the overall Twin Hills Central gold deposit and nearby satellite bodies along strike and on parallel trends. We have now dedicated several drill rigs to the entire Clouds target as well as the gap between THC and Clouds West. At the same time, resource drilling at Twin Hills Central is continuing on schedule with rigs concentrating on the northern and eastern extensions as well as the remaining in-fill holes. The positive results at Twin Hills West and Barking Dog are the best holes in these areas to date and will direct further exploration early next year.”

 

In addition, narrow but significant intercepts have been returned from both Twin Hills West (16m @ 1.38g/t) and Barking Dog (8m @ 1.30g/t) which provide a clear indication of where future drilling should be focused at these targets. The intercept on the south side of Barking Dog is the first positive result in this part of the Twin Hills system and indicates that the mineralization is developing towards the southeast – see Figure 1.

 

Figure 1 is available at 

https://www.globenewswire.com/NewsRoom/AttachmentNg/41ccf1e7-731e-407d-bb36-aa427738d67d

 

To date a total of 36 holes have been drilled at Clouds, Twin Hills West (“THW”) and Barking Dog (See Figure 1 for location of targets and Table 1 for list of drill holes and significant assays) with significant assay results having been received.

 

Detailed Results of Exploration Drilling

 

Clouds

 

The Clouds target is a 1200m long gold-in-calcrete, magnetic and IP anomaly that lies 500m on strike to the east of THC. Two holes were drilled on the west side of Clouds in 2019 with a best intercept of 7m @ 0.71g/t in hole OKD025. An additional seven holes were drilled at Clouds West in the current program with a best result of 27m @ 1.22g/t (inc. 16m @ 1.74g/t) in hole OKD059, 180m to the west of OKD025 – see Figure 2. The gold mineralization is steeply dipping to the north and occurs within sheared and altered turbidites, hosting centimeter-scale veinlets of arsenopyrite and pyrrhotite. This mineralization is similar in style to THC.

 

Two holes were also drilled at Clouds East in 2019 with a best result of 27m @ 0.80g/t (inc. 6m @ 1.25g/t) in OKD057. In the current program three additional step-out holes were drilled at Clouds East with all of the holes intersecting significant mineralization with a best of 76m @ 0.75g/t (inc. 37m @ 0.97g/t) and 19m @ 1.19g/t (inc. 8m @ 1.67g/t) – see Figure 2.

 

The intercepts at Clouds to date look narrower than at THC but the widest part of the IP anomaly in the center of the Clouds target has yet to be drilled. If the mineralization is continuous from THC to Clouds East, the total strike length of mineralization could potentially be increased to 3100m.

 

Figure 2 is available at 

https://www.globenewswire.com/NewsRoom/AttachmentNg/8e892c0d-209e-4be8-9ac2-687fc2461428 

 

Twin Hills West

 

In the 2020 exploration program, four holes were drilled to the south and west of OKD011 (21m @ 0.83g/t) and OKD019 (11m @ 1.08g/t) to follow-up on the results from 2019. The best result from the recent drilling is 16m @ 1.38g/t in the southernmost hole (OKD037) – see Figure 1. This hole appears to have intersected the top of a developing ore shoot and step-out drilling is being planned for early 2021 to follow-up on OKD037 and also to test the strong IP and gold-in-calcrete anomaly at THW to the north of the current drilling.

 

Eight holes were drilled at THW in 2019 with the initial holes (OKD011 and OKD013) orientated on an azimuth of 160o as at THC. However, the drill was turned around to 340o after 50m of the second hole as it became clear that the geology at THW dips steeply to the south, in contrast to the rest of Twin Hills where it dips to the north.

 

Barking Dog

 

In 2019 six holes were drilled at Barking Dog across magnetic and geochemical anomalies with no significant gold intercepts. A further four holes were drilled during the 2020 program over a prominent IP anomaly to the south of Barking Dog. Hole OKD063 on the east side of the anomaly returned a positive intercept of 8m @ 1.30g/t. This mineralization will be followed-up along strike and down-dip to see if it develops into a wider shoot towards the east – see Figure 1.

 

These drill results have provided validation of the quality of Osino’s new IP targets and provide impetus to further accelerating Osino’s brownfields exploration program in addition to the ongoing resource drilling.

 

 

Table 1: Summary of Drill Intercepts from 2020 Exploration Drilling at Twin Hills Project.

 

Hole From To Width Grade X Y
Clouds West
OKD0591 143 170 27 1.22 601658 7584988
inc.     16 1.74    
OKD062 157 167 10 0.90 601623 7585083
OKD065 No significant intercepts 601851 7584960
OKD082 No significant intercepts 601676 7584941
OKD086 No significant intercepts 601703 7585008
OKD090 95 107 12 0.63 601629 7584920
 
Clouds East
OKD054 No significant intercepts 602632 7585268
OKD0571     27 0.80 602598 7585361
inc.     6 1.25    
OKD0931 66 142 76 0.75 602585 7585408
OKD0961 55 142 87 0.62 602630 7585428
OKD098 65 76 11 0.61 602537 7585395
and 81 100 19 0.96    
 
Twin Hills West
OKD0371 169 185 16 1.38 597086 7583032
and 269 278 9 0.52    
OKD040 45 50 5 1.30 596962 7583081
OKD043 55 59 4 1.96 596928 7583175
OKD045 No significant intercepts 596894 7583268
 
Barking Dog
OKD051 No significant intercepts 604199 7585658
OKD060 No significant intercepts 604165 7585752
OKD061 No significant intercepts 604551 7585860
OKD063 61 69 8 1.30 604586 7585766
                   

 

1Unconstrained intersections
Notes: All reported intercepts are apparent widths rounded to the nearest meter. True widths are unknown at this stage. Included intercepts are at 0.4g/t cut-off, minimum 2m wide and no more that 2m internal dilution. All holes in table above drilled on azimuth 160 degrees. Collar positions are in UTM WGS84, surveyed accurately with DGPS.

 

Qualified Person

 

David Underwood, BSc. (Hons) is Vice President Exploration of Osino Resources Corp. and has reviewed and approved the scientific and technical information in this news release and is a registered Professional Natural Scientist with the South African Council for Natural Scientific Professions (Pr. Sci. Nat. No.400323/11) and a Qualified Person for the purposes of National Instrument 43-101.

Quality Assurance

 

All Osino sample assay results have been independently monitored through a quality assurance / quality control program including the insertion of blind standards, blanks and duplicate samples. QA/QC samples make up 10% of all samples submitted. Logging and sampling is completed at Osino’s secure facility located in Omaruru near the Twin Hills 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. The core is dried, crushed to 90% -10mesh, split to 350g and pulverised to 90% -140mesh. Sample pulps are sent to Actlabs in Ontario, Canada for analysis. Gold analysis is by 30g fire assay with AA finish and automatically re-analysed with Gravimetric finish if Au >5g/t. In addition, pulps undergo 4-Acid digestion and multi-element analysis by ICPAES or ICP-MS. RC drill samples are prepared at Actlabs sample prep facility in Windhoek, Namibia. The RC chips are dried, crushed to 90% -10mesh, split to 350g and pulverised to 90% -140mesh. Sample pulps are sent to Actlabs in Ontario, Canada for analysis. Gold analysis is by 30g fire assay with AA finish and automatically re-analysed with Gravimetric finish if Au >5g/t.

 

About Osino Resources

 

Osino is a Canadian gold exploration company, focused on the acquisition and development of gold projects in Namibia. Having achieved our initial vision of finding Namibia’s next significant gold deposit, we are now focused on rapidly advancing the exciting Twin Hills gold discovery and to make new discoveries elsewhere along the belt. This we will achieve with Osino’s winning formula of combining innovation & drive with technical experience & strong financial backing.

 

Our portfolio of exclusive exploration licenses is located within Namibia’s prospective Damara mineral belt, mostly in proximity to and along strike of the producing Navachab and Otjikoto Gold Mines. Osino is targeting gold mineralization that fits the broad orogenic gold model. We are actively advancing a range of gold discoveries, prospects and targets across our approximately 7,000km2 ground position by utilizing a portfolio approach geared towards discovery.

 

Osino’s focus in 2020 is on further advancing the Twin Hills and Goldkuppe discoveries within the developing Karibib Gold District, testing our Otjikoto East and Otjiwarongo targets and generating new ones on our remaining licenses. Our core projects are favorably located north and north-west of Namibia’s capital city Windhoek. By virtue of their 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.

 

Posted November 17, 2020

Share this news article

MORE or "UNCATEGORIZED"


Solaris Reports 1,004m of 0.71% CuEq From Surface, Expands Limits of Warintza Central

Solaris Resources Inc. (TSX-V: SLS) is pleased to report assay re... READ MORE

November 23, 2020

GR Silver Mining Delineates New Mineralized Zone from Drilling in the San Juan Area, Plomosas Silver Project

5.5 m @ 332 g/t AgEq1 (264 g/t Ag, 0.4 g/t Au, 0.3 % Pb and 0.6 %... READ MORE

November 23, 2020

Nova Royalty Completes Acquisition of Royalty on Antofagasta's Twin Metals Project in Minnesota

Nova Royalty Corp. is pleased to announce that, further to its ne... READ MORE

November 23, 2020

Roughrider Signs Option Agreement with Industria on its Scottie West Property

Roughrider Exploration Limited (TSX-V: REL)is pleased to an... READ MORE

November 23, 2020

Kerr Mines and Star Royalties Close US$18 Million Project Financing for Restart of the Copperstone Gold Mine

Kerr Mines Inc.(TSX: KER) (OTC:KERMF) and Star ... READ MORE

November 23, 2020

Copyright 2020 The Prospector News - Site design by Spyderbaby Productions