#Mining #Stock News: O2Gold (TSXV: $OTGO.V)
Intercepts 20 g/t Au at the Main Aurora Vein, Which Has a Projected Extension
of at Least 700 Meters, at Only 97 Meters of Depth; @otgo_v
TORONTO - September 21, 2021 (Investorideas.com Newswire) O2Gold Inc. ("O2Gold" or the "Company") (TSXV:OTGO) is pleased to report high-grade gold-silver intercepts from its first drill hole at the Aurora Tunnel in Colombia, where the Company has exploitation and production permits.
Read this news featuring OTGO in full at https://www.investorideas.com/CO/OTGO/news/2021/09211Main-Aurora-Vein.asp
Key Highlights
·
Hole AUR-21-001 targeted down-dip extensions of
high-grade gold-silver mineralization indicated by rock chip sampling and prior
artisanal production at the Aurora Tunnel.
·
A mineralized interval was encountered (reported as
downhole intervals) with the following results: 1.6 m @ 9.19 g/t Au and 1.89
g/t Ag from 97.4 m, including 0.7 m @ 20.11 g/t Au and 3.30 g/t Ag @
97.4 m.
·
AUR-21-001 was the first hole drilled in the Company's
planned 8,000 m drilling campaign. Three additional holes have been completed,
the cores of which are currently being assayed and are expected in 10 days.
Results
The drilling campaign on the Aurora project area is
being carried out by two rigs and aims to define the mineralized body formerly
explored by artisanal miners. Hole AUR-21-001 is the first to intercept the
main mineralized vein. Figure 1 shows a cross section of the hole as well as
the expected projection of the vein identified by spontaneous potential
testing. Sampling intervals and the main values obtained are also noted.
Figure 1: Section C with AUR-21-001 sampling and
results, as well as the trajectory of the completed AUR-21-003 hole
AUR-21-001 crossed a sequence of intrusive igneous
rock similar to a quartz diorite, with mylonite metric levels where a chloritic
alteration predominates, and strong silicification is superimposed. Figure 2
shows the intercepted mineralized vein.
Figure 2: Drill cores of AUR-21-001 where it
intercepted the main Aurora vein, showing 0.7m @ 20.11 g/t Au and 3.30 g/t Ag
from 97.4 m.
The hole finished a final depth of 220 meters and
cut the entire anomalous sequence identified in the spontaneous potential
mapping previously announced by the Company in a press release dated August 31,
2021. The intersection between 8.70 - 11.70 m is an additional highlight for
the Company, as it indicated an interval of 3 m @ 12.30 g/t Ag.
Though a highly-weathered and low-recovery
interval, it showed fragments of quartz veins, precisely in the interval that
the spontaneous potential indicated as anomalous. Scheduled drill holes from
the ongoing, 8,000 m drill campaign will aim to better intercept and recover
intervals to identify the true potential of this anomaly.
Drilling Continues
AUR-21-001 is only one of the four holes completed.
There are eight remaining targets to complete the approximately 4,000 m of
planned drilling at the Aurora project area. Assays from holes AUR-21-002 and
AUR-21-003, which intercepted quartz veins, are at SGS Colombia S.A.S.'s
("SGS") lab facility for analysis, and the results are
expected in 10 days.
Quality Assurance and Quality Control
All samples were shipped to the SGS's lab facility
in Medellin, Colombia, where they were prepared and analyzed. They were
analyzed using SGS procedure FAA515 to gold (fire-assay on a 50-gram sample
with AAS finish) and AAS12C to silver (multi-acid digestion with AAS finish).
Over the limit gold was determined by SGS procedure FAG505 (using standard
fire-assay on a 50-gram sample with a gravimetric finish).
In line with QAQC best practices, approximately 10%
of a 78-sample batch are control samples (three Au-Ag standards:
High/Medium/Low grades, two fine blanks, one project blank, and two field
duplicates).
SGS
is independent of O2Gold. The Company is not aware of any other factors that could
materially affect the accuracy or reliability of the data referred to herein.
Qualified Person
The
scientific and technical information contained herein has been reviewed and
approved by Marcelo Albuquerque, MAIG, a "qualified person" as
defined in National Instrument 43-101 - Standards of Disclosure for Mineral
Projects.
About O2Gold
O2Gold
is a mineral exploration company with activities in Colombia. The Company's
contiguous 30,000-ha land package includes several brownfields and largely
under-explored greenfields.
For additional information,
please contact:
Jaime
Lalinde, President and CEO
Phone: (57) 312 350 5864
Email: jlalinde@fmresources.ca
Cautionary
Note Regarding Forward-looking Information
The
content and grades of any mineral deposits at the Aurora property are
conceptual in nature. There has been insufficient exploration to define a
mineral resource on the property and it is uncertain if further exploration
will result in any target being delineated as a mineral resource.
This
press release contains "forward-looking information" within the
meaning of applicable Canadian securities legislation. Forward-looking
information includes, but is not limited to, statements with respect to the
Company's planned work and exploration activities at the Aurora property,
particularly the timing for the receipt of the results of the Company's other
drill holes. Generally, forward-looking information can be identified by the
use of forward-looking terminology such as "plans",
"expects" or "does not expect", "is expected",
"budget", "scheduled", "estimates",
"forecasts", "intends", "anticipates" or
"does not anticipate", or "believes", or variations of such
words and phrases or state that certain actions, events or results
"may", "could", "would", "might" or
"will be taken", "occur" or "be achieved".
Forward-looking information is subject to known and unknown risks,
uncertainties and other factors that 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 mineral prices; accidents, labour disputes and shortages and other risks
of 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, there may be other factors that
cause results not to be as anticipated, estimated or intended. 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. Accordingly, readers should not place undue reliance on
forward-looking information. The Company does not undertake to update any
forward-looking information, except in accordance with applicable securities
laws.
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PROVIDER (AS THAT TERM IS DEFINED IN POLICIES OF THE TSX VENTURE EXCHANGE) HAS
REVIEWED OR ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS
RELEASE.
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