TORONTO, Sept. 08, 2021 (GLOBE NEWSWIRE) -- G2 Goldfields Inc.(“G2” or the “Company”) (TSXV: GTWO; OTCQX: GUYGF) is pleased to announce additional drilling intercepts of high-grade gold from the Company’s ongoing drilling program at the 19,200-acre OKO project, Guyana. To date, G2 has completed 89 diamond drill holes totalling 20,352 metres. Drilling has defined five parallel auriferous shear zones at Oko, with gold mineralization established over an 800-metre strike length and to depths exceeding 350 metres. Of the first 77 holes logged and assayed at Oko, 44 have intercepted visible gold.
Complete diamond drill results for two additional drill holes, OKD-76 and OKD-77, are available at the following link https://g2goldfields.com/wp-content/uploads/2021/09/G2Goldfields_Table_08SEP21.pdf. Hole OKD-77, which targeted Shear zones 3 and 4, returned 5.7 g/t Au over 8.4 metres (5.8m true width) as well as 335.4 g/t Au over 1.9 metres (1.4 m true width). The latter intercept is one of several high-grade intercepts in the newly discovered Shear zones 4 and 5, as previously reported by G2 (see press releases dated July 22, 2021, and June 10, 2021). Highlights of assays for Shear 4 are available in Table 1.
Shear 4 High Grade Intercepts
|Hole Number||True Width Intersection (m)||Grade (g/t Au)|
|OKD – 24||1.66||76.37|
|OKD – 29||1.05||29.67|
|OKD – 30||1.76||20.27|
|OKD – 33||1.80||10.49|
|OKD – 48||1.45||26.09|
|OKD – 59||2.45||11.48|
|OKD – 65||1.60||41.98|
|OKD – 73||4.46||15.90|
|OKD – 77||1.40||335.4|
Shear Zone 4 has now been defined by 29 pierce points outlining a structure 520 metres long by 250 metres deep, varying in true thickness from 0.9 to 7.1 metres. Additionally, Shear Zone 5 has been defined by 15 pierce points and currently has dimensions of 520 metres long by 260 metres deep, varying in true width between 0.9 and 17.4 metres. Highlights of high-grade results reported to date in Shear 5 are contained in Table 2.
Shear Five High Grade Intercepts
|Hole Number||True Width of Mineralization (m)||Grade (g/t Au)|
|OKD – 60||1.24||13.84|
|OKD – 66||5.71||15.29|
|OKD – 67||2.06||27.69|
|OKD – 74||4.60||38.55|
|OKD – 75||2.56||9.71|
A long section illustrating the distribution of high-grade hits exclusively in Shears 4 and 5 is available at the following link: https://g2goldfields.com/wp-content/uploads/2021/09/G2Goldfields_LongSection_08SEP21.pdf.
Dan Noone, G2 Goldfields CEO, states, “Hole OKD-77 is one of the many holes drilled to date at Oko which demonstrate that the property holds significant amounts of high-grade gold, with visible gold present in the majority of holes. We look forward to further exploration results from OKO”.
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 analyzed for total gold using an industry-standard 500g metallic screen fire assay (MSALABS method MSC 550). All other samples are analyzed for gold using standard Fire Assay-AA with atomic absorption finish (MSALABS method; FAS-121). Samples returning over 10.0 g/t gold are analyzed 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.
About G2 Goldfields Inc.
G2 Goldfields Inc. is focused on the discovery of large gold deposits in the Guiana Shield. The Company owns a 100% interest in two past gold-producing mines, as well as a regional portfolio of highly prospective projects.
All scientific and technical information in this press release has been prepared under the supervision of 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 Member of the Australian Institute of Geoscientists.
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Forward Looking Statements
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