G2 Goldfields (TSXV:GTWO) Announces Drill Results of 50m @ 1.71 g/t Au in New Zone at OKO

G2 Goldfields (TSXV:GTWO) has announced results from ongoing drilling at its OKO gold project. The company has intersected a new surface zone of broad disseminated gold mineralization and mechanical trenching over 500m to the north of the new drill intersection. The trenching has exposed a new wide zone of stockwork-style mineralization within similar host rocks, and G2 has observed large amounts of free gold in pan concentrates.

The results come from the 19,200-acre OKO gold project and have the potential to add near-surface gold resources to the initial maiden resource estimate announced in April for OKO Main Zone. Both discoveries are located between OMZ and Reunion Gold’s OKO West discovery, and are hosted within magnetite-rich metamorphic host rocks, that are identical to those at Reunion Gold’s Block 4 discovery. G2 is still exploring this area with two excavators and two drills. 

Dan Noone, G2 Goldfields CEO, commented in a press release: “This recent work has demonstrated the tremendous prospectivity of the ground between OMZ and Reunion. These latest discoveries are potential game changers for our Company, and we look forward to executing an aggressive results-focussed program for our investors.” 

Results from the drilling are as follows:

Source: G2 Goldfields Inc.

Drilling and trenching targeted a newly defined 1.2 km long zone of anomalous gold in soils and saprolite. Previous drilling in 2020 & 2021 (OMZ series holes on Exhibit 1), although encountering intriguing intercepts, appears to have missed most of the zones encountered in the current program. Generally, the previous holes were collared too far to the west, and thus drilled into the intrusion rather than the main shear. 

In the current program, twelve diamond drill holes (totalling 1,356 m) and two excavator trenches (totalling 495 m) have been completed. Assays are currently available for the first four holes. Results are tabulated below.

TABLE 1

Hole ID From To Int (m) Au g/t

GDD-01 96.00 108.50 12.50 0.91

GDD-02 95.00 116.00 21.00 1.01

GDD-03 90.00 93.00 3.00 1.74

GDD-04 21.00 71.00 50.00 1.71

Incl. 55.50 69.40 13.90 5.09

Significant intervals in this press release have been calculated using a grade cutoff of 0.3 g/t Au and up to 10 meters maximum length of internal waste. Included significant intervals have been calculated using a grade cutoff of 1.0 g/t Au, a minimum length of three meters, and up to three meters maximum length of internal waste. Gold grades are uncapped. Mineralized intersection lengths are not necessarily true widths.

Source: G2 Goldfields Inc.

These initial four holes define a zone of interest open to both the north and the south with a strike length of 400m. The intercept of 50m @ 1.71 g/t Au in GDD-04 is hosted by a high-strain zone within a magnetite rich metamorphic host rock. Multiple centimetre-scale quartz carbonate veins, that occasionally have visible gold are complementary to the selective replacement of magnetite by pyrite along vein selvages and sometimes disseminated over broad zones within the host rock.

Source: G2 Goldfields Inc.

The style of mineralization within the magnetite rich host rock is identical to Reunion Gold’s Block 4 discovery which occurs within the same high-strain corridor another 1.2 km along strike from the intercept in GDD-04.

Source: G2 Goldfields Inc.

Trenching Exposes Quartz Stockworks

G2 has completed two trenches (GTR1, GTR2 see Exhibit 1) approximately 500m north of hole GDD-04. These trenches have exposed extensive auriferous stockwork zones of 49 m in GTR1 and 36 m in GTR2. Photographs of these stockworks are shown below as Exhibits 2 and 3. Continuous channel samples from the trenches have been submitted for assaying. G2 also sampled additional material for panning and manual gold eye counts using a hand lens. Some of the samples have provided over 200 gold “eyes” as well as the discovery of coarse gold particulate Exhibit 4.

 

The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a licensed professional for investment advice. The author is not an insider or shareholder of any of the companies mentioned above.

By Matthew Evanoff

I cover the mining industry and the best mining stocks around the world. I write about industry news, individual companies, projects, management, and profiles on industry leaders.

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