#Colombian #Gold #Stock News: O2GOLD (TSXV:
$OTGO.V) Drilling in Aurora Yields an Average Grade of 7.44 g/t Au and Ground
Geophysics Identifies New Veins and Increases Projected Vein Extensions by More
Than 3,000 Meters; @otgo_v
TORONTO - January 26, 2022 (Investorideas.com Newswire) O2Gold Inc. ("O2Gold" or the "Company") (TSXV: OTGO) (FRA: 6210.F) is pleased to announce that a second campaign of ground geophysics has increased the overall projected vein extensions and identified three new veins in the brownfield targets of Aparecida, Esmeralda, and Botella. The Company has completed 4,000 meters of drilling, which has yielded an average grade of 7.44 g/t Au in Aurora.
Read this news, featuring OTGO in
full at https://www.investorideas.com/CO/OTGO/news/2022/01261Aparecida-Esmeralda-Botella.asp
Highlights
·
Spontaneous potential ground
geophysics increased the vein extensions in Aparecida, Botella, and Esmeralda
by 3,370 meters, for a total of 6,670 meters of projected veins in these three
brownfield targets.
·
Additionally, three new veins
have been identified, the longest of which, Aparecida East, has a projected
extension of 730 meters. The other two veins in Botella have projected
extensions of 450 meters each.
·
The projected extension of the
main Botella vein, which was the site of an artisanal operation, was increased
to at least 900 meters.
·
Drilling in Aurora has proven the
extension of the main Aurora vein to 622 meters. AUR_011 showed an apparent
width of 90 centimeters with 6.38 g/t Au and 15.31 g/t Ag.
·
Drilling in Aurora, with
additional results forthcoming, has yielded an average grade of 7.44 g/t Au.
Ground Geophysics
The second campaign of ground
geophysics totaled 8,400 linear meters of testing in Aparecida, Esmeralda, and
Botella. In Aparecida, as shown in Figure 1, the three N-S veins with confirmed
gold mineralization were each extended by an average of 275 meters.
Aparecida East, an as-yet-unknown vein whose
mineralization needs to be confirmed with geochemistry and geological mapping,
has a projected extension of 730 meters.
Figure 1: Aparecida brownfield
with projected vein extensions and surface and underground sampling results.
https://www.globenewswire.com/NewsRoom/AttachmentNg/7b579c68-9875-4614-89fe-2be3417b0075
In the Esmeralda brownfield, as shown
in Figure 2, the projected extension of the main vein is now at least 450
meters. This vein, with gold mineralization confirmed through geochemistry, was
the source of an artisanal operation. Two parallel structures, one to the north
and one to the south, each have a projected extension of at least 450 meters
and need to be confirmed with geochemistry and geological mapping.
In the Botella brownfield, geophysics
increased the projected extension of Botella Nueva, the former source of an
artisanal operation, to at least 650 meters. Botella West, which has confirmed
gold mineralization, now has a projected extension of at least 900 meters.
Figure 2: Esmeralda and Botella
brownfields with projected vein extensions and surface and underground sampling
results.
https://www.globenewswire.com/NewsRoom/AttachmentNg/7f758570-6476-4e6d-b21e-371390934796
Drilling
Last week, O2Gold completed
4,000-meters in drilling. The first drill campaign, which began in August 2021,
has focused on the Aurora, Quintanillo, and Aparecida brownfields. The latest
drill results from Aurora continue to prove the extension of the main vein,
which is now 622 meters long with a maximum dip extension of 275 meters, as
shown in Figure 3. Ground geophysics have projected at least 900 meters in
extension. Hole AUR_011 intercepted the main vein 142 meters from the surface,
with an apparent width of 90 centimeters with 6.38 g/t Au and 15.31 g/t Ag.
The main vein of Aurora has been
intercepted 16 times, with at least two intersections every 100 meters on a
regular grid; the highest grade has been 20.11 g/t Au and the lowest has been
0.1 g/t Au, with an unweighted average grade of 7.44 g/t Au. Additional results
from exploratory drilling activities at Aurora, Aparecida, and Quintanillo are
expected in the coming weeks, and the reopening of the old production tunnels
that are in progress will allow the realization of bulk sampling for studies of
grade variability
Figure 3: The main vein of Aurora with completed drill
holes.
https://www.globenewswire.com/NewsRoom/AttachmentNg/bdfc3204-a96b-44c0-b36f-dce4cc813c97
Methodology
The geoelectrical survey
methodology was chosen because it is known to identify vein structures in the
same geological context successfully. The methods are as follows:
·
Spontaneous Potential (SP):
measures the spontaneous polarization due to electrochemical reactions existing
at the host rock vein interface.
·
Electrical Resistivity Profiling
(ERP): measures the lateral variations of resistivity, trying to delimit the
sub-vertical veins by contrast with host rocks.
·
Vertical Electrical Sounding
(VES): measures the behavior of the resistivity distribution with depth,
defining the thickness of the weathered rock and adjusting the frequency used
in Electrical Resistivity Tomography.
·
Electrical Resistivity Tomography
(ERT): measures the lateral and vertical variations of contacts related to the
vein system due to its low resistivity characteristics.
The grids used were perpendicular
to the known vein structures, with variable spacing between 100 and 200 meters
and with measuring points every 20 meters.
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.
Jaime Lalinde, President and CEO
Phone: (57) 312 350 5864
Email: jlalinde@fmresources.ca
Cautionary Notes
The content and grades of any
mineral deposits at the Company's properties are conceptual in nature. There
has been insufficient exploration to define a mineral resource on the
properties 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 business and
operations and its planned work and exploration activities, particularly the
forthcoming drill results at its Aurora property. 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.
NEITHER THE TSX VENTURE EXCHANGE NOR
ITS REGULATION SERVICES 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.
Figure 1
Aparecida brownfield with projected vein extensions and surface and underground sampling results.
Figure 2
Esmeralda and Botella brownfields with projected vein extensions and surface and underground sampling results.
Figure 3
The main vein of Aurora with completed drill holes.
O2Gold is a
featured Mining stock on Investorideas.com
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