O2Gold intercepts the main Aurora vein up to 19 g / t Au,
TORONTO, Oct. 04, 2021 (GLOBE NEWSWIRE) – O2Gold Inc. (“O2Gold“or the”Society(TSXV: OTGO) is pleased to announce that the latest results from its ongoing drilling program confirm the mineralized system of the main Aurora vein located on its property in Colombia at depth.
- AUR-21-002, located 100 meters north of hole AUR-21-001, intercepted the main Aurora vein and showed the following results: 0.7 m @ 19.26 g / t Au and 10.5 g / t Ag from 23.10m to 23.80m.
- The gold-silver intercept of hole AUR-21-003 was between 159.20 and 163.20 meters, i.e. 2 meters real thickness.
- The Company’s drilling program is expected to expand soon to its neighboring brownfield sites in Aparecida and Quintanillo, where exploration work in progress has identified at least 9 distinct veins, including one with a projected extension of 1.2 km.
Drill holes AUR-21-002 and AUR-21-003 both targeted the main Aurora vein. The interception of AUR-21-002, which was 18 m from the surface, confirms the high-grade gold result observed in the Company’s first drill hole. Figure 1 shows the mineralized interval with portions of quartz veins interspersed in mylonitic and porphyroblastic rocks altered by weathering.
Figure 1: Hole AUR-21-002 with 0.70 meters at 19.26 g / t Au and 10.5 g / t Ag from 23.10 to 23.80 meters.
AUR-21-003 intercepted about 150 meters from the surface. The intersection was between 159.20 and 163.20 meters, totaling 4.00 meters of apparent thickness, with weighted average grades of 0.71 g / t Au and 5.09 g / t Ag. The interval the richest is between 159.20 and 160.40 meters, totaling 1.20 meters of apparent thickness and grades of 1.71 g / t Au and 14.20 g / t Ag.
The intercepted interval confirms the mineralization observed in holes AUR-21-001 and AUR-21-002 and shows the extent of the vein at the projected dip. Figure 2 shows in cross-sections the main results of drill holes AUR-21-001 and AUR-21-003, as well as drill hole AUR-21-002.
Figure 2: Top, Relative locations and depths of holes AUR-21-001 and AUR-21-003 (Section 01-C). Bottom, Location and trajectory of hole AUR-21-002 (Section 01-D).
Following the Company’s report of an intersection with 20.11 g / t Au (for more information, please see the Company’s press release dated September 20, 2021), these results show that further drilling is necessary to understand the average values of the width of the main vein Aurora and class. When the Aurora mine begins small-scale production, a large volume sample will be important for this definition and further drilling results to come should reveal its minimal extent.
Exploration of Aparecida, Quintanillo and Botella
In addition to the five veins indicated or observed near the Aurora Tunnel, the Company’s ongoing rock channel sampling, geophysics and mapping of other brownfield targets have revealed many other areas of interest that need to be confirmed by drilling. In Aparecida, five veins have been indicated, with average projected extensions of at least 300 m. The anastomosis pattern is characterized by the opening and closing of mineralized structures. The Fortaleza Aparecida vein has a projected extension of at least 400 m, and rock channel sampling returned maximum values of 42.3 g / t Au and 49.6 g / t Ag (for more information, please see the Company’s press release dated July 06, 2021).
At Quintanillo, which lies directly south of the Aurora region, four distinct veins have been identified, with the main vein expected to extend for at least 1.2 km.
Finally, at Botella, five distinct veins were observed or indicated, with an average projected extension of at least 200 m. The Esmeralda vein has an observed width of 1 m, and several rock channel samples have returned grades of over 30 g / t Au (for more information, please see the Company’s press release dated July 06, 2021).
Quality assurance and quality control
All samples were shipped to SGS Colombia SAS (“GV”) In the laboratory in Medellin, Colombia, where they were prepared and analyzed. They were analyzed using the SGS FAA515 gold procedure (pyrotechnic test on a 50 gram sample with AAS finish) and AAS12C silver (multi-acid digestion with AAS finish). Above the limit, gold was determined by the SGS FAG505 procedure (using standard fire assay on a 50 gram sample with a gravimetric finish).
In accordance with QAQC best practices, approximately 10% of a batch of 78 samples are control samples (three Au-Ag standards: high / medium / low levels, two fine blanks, one project blank and two field duplicates) .
SGS is independent from O2Gold. The Company is not aware of any other factor likely to materially affect the accuracy or reliability of the data referred to in this document.
The scientific and technical information contained in this document has been reviewed and approved by Marcelo Albuquerque, MAIG, a “qualified person” as defined in National Instrument 43-101 – Disclosure standards for mining projects.
O2Gold is a mining exploration company with operations in Colombia. The Company’s 30,000 ha contiguous land complex includes several brownfields and new largely underexplored brownfields.
For more information, please contact:
Jaime Lalinde, President and CEO
Telephone: (57) 312 350 5864
Email: [email protected]
Management does not base the Company’s production decision at the Aurora mine on a mineral reserve feasibility study demonstrating economic and technical viability; therefore, there may be increased uncertainty about achieving a particular level of mineral recovery or the cost of such recovery, which includes increased risks associated with the development of a mineable deposit. commercially. Historically, such projects present a much higher risk of economic and technical failure. There is no guarantee that the expected production costs will be achieved. Failure to meet anticipated production costs would have a material adverse impact on the Company’s cash flow and future profitability. Readers are cautioned that there is increased uncertainty and a higher risk of economic and technical failure associated with such production decisions.
The content and grades of any mineral deposit on the Company’s properties are conceptual in nature. Exploration has not been sufficient to define a mineral resource on the properties and it is not certain that further exploration will result in the delineation of a target as a mineral resource.
This press release contains “forward-looking information” within the meaning of applicable Canadian securities laws. Forward-looking information includes, without limitation, statements regarding the activities and operations of the Company and its planned exploration work and activities, in particular the results of upcoming drilling on its Aurora property. In general, forward-looking information can be identified by the use of forward-looking terms such as “plans”, “expects” or “does not expect”, “is planned”, “budget”, “planned”, “Estimates”, “anticipates”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of these words and expressions or declares that certain actions, events or results ” could ”,“ could ”,“ could ”,“ could ”or“ will be taken ”,“ occur ”or“ be reached ”. Forward-looking information is subject to known and unknown risks, uncertainties and other factors which may cause the actual results, level of activity, performance or achievements of the Company, as the case may be, to be materially. different from those expressed or implied by such forward-looking information, including, but not limited to: receipt of necessary approvals; general business, economic, competitive, political and social uncertainties; future prices of minerals; accidents, labor disputes and shortages and other risks in the mining industry. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, other factors may cause results not to be as anticipated, estimated or planned. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Therefore, readers should not place undue reliance on forward-looking information. The Company does not undertake to update forward-looking information, except in accordance with applicable securities laws.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATORY SERVICES PROVIDER (AS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS COMMUNICATION.