Osino Resources Intersects Shallow, High Grade Gold Zone in 4th Diamond Drill Hole at Twin Hills Central, Namibia
TSX VENTURE: OSI
- 4th diamond drill hole OKD004 at Twin Hills Central delivers best gold intercepts yet including:
- 65m @ 1.37g/t Au (16 – 81m), incl. 31m @ 2.2g/t (42-73m)
- Highest individual meter assays include 8.36, 4.40 and 4.31g/t
- All holes received to date intersected wide zones of gold mineralisation, open in all directions
- Assays for the initial 3 holes were reported in a press release dated August 26, 2019 and included:
- 104m @ 0.70g/t Au (from 115m), incl. 10m @ 1.27g/t and 20m @ 1.11g/t
- 189m @ 0.69g/t Au (from 21m), incl. 14m @ 1.14g/t, 7m @ 1.42g/t and 5m @ 1.43g/t
- 78m @ 0.64g/t (from 91m) including 23m @ 1.01g/t
- Holes were drilled to ~ 200m depth at an inclination of 60 degrees, along 3 fence lines 400m apart
- Assays for the remaining 3 holes (OKD005 – 7) and hole extensions (deepening) of OKD001 and 2, which both ended in mineralisation, are expected by the end of September
- Planning to ramp up DD & RC drilling once all results are received
VANCOUVER, British Columbia, Sept. 03, 2019 (GLOBE NEWSWIRE) -- Osino Resources Corp. (TSXV: OSI) (FSE: RSR1) ("Osino” or “the Company”), is pleased to announce that it has intersected a high grade gold zone in the 4th hole of the 7 hole diamond drill program at its Twin Hills Gold Project (“Twin Hills”), located in the Karibib Gold District in Namibia. This news follows the announcement of the Twin Hills Central discovery in a press release dated August 26, 2019.
Dave Underwood, Osino’s VP Exploration commented: “The intersection of this high grade shoot so early in the drill program is remarkable and adds to our confidence in the growing scale and grade of the Twin Hills discovery. Sediment-hosted, orogenic gold deposits are often characterized by wide, lower grade gold haloes, with higher grade shoots within them. From the limited drill assays we have seen so far, Twin Hills Central appears to be fitting into this model”.
Assays from a further 3 diamond holes at Twin Hills Central are still awaited, as well as the assays results from the deepening of holes OKD001 and OKD002 which ended in mineralisation. Osino is currently planning the next phase of drilling to start as soon possible, focusing on in-fill and step out drilling at Twin Hills Central, as well as fence lines over other identified prospects within the 11km Twin Hills gold system.
Twin Hills Central Diamond Drilling
A total of 7 holes were drilled to approximately 200m depth at an inclination of 60 degrees, along three lines at 400m line spacing and 100m hole spacing. Refer to Figure 1 for further details.
Extensive mineralization has now been intersected in 4 out of 7 of the Twin Hills Central diamond holes, suggesting a strike length of more than 400m and widths of up to 200m, open along strike to the east and west and down dip. The mineralisation seen so far is comprised of both wide, continuous zones of mineralization and higher grade zones within.
Assays for the remaining 3 holes and OKD001 and 002 extensions are expected by the end of September.
The drill plan in Figure 1 below and sections in Figures 2 and 3 provides further detail on the holes received so far. Two of the holes (OKD001 and 2) ended in mineralization including 5m @ 1.43g/t in OKD002, and were deepened before completion of the program. Assay results for these are expected towards the end of September 2019.
OKD004 intersected a high grade gold zone of 65m @ 1.37g/t Au (16 – 81m), incl. 31m @ 2.2g/t (42-73m).
Significant intercepts for the four holes received to date are listed in Table 1 below.
|Hole ID||From (m)||To (m)||Width (m)||Au (g/t)||X UTM 33S||Y UTM 33S|
|Table 1: Significant Intercepts for First Four Diamond Drill Holes at Twin Hills Central|
Notes: All reported intercepts are apparent widths. True widths are unknown at this stage. Intercepts are at 0.4g/t cut off, minimum 2m wide and included intercepts no more that 2m internal dilution. Total intersections are unconstrained.
The mineralisation at Twin Hills Central appears to be located in an anticline with a wavelength of several hundred metres. Structural measurements made to date indicate that the folds strike ENE – WSW and plunge shallowly both ENE and WSW.
The next phase of in-fill drilling should be able to confirm the orientation of the high grade zone and its relationship to the prospect scale structures.
Twin Hills is Osino’s flagship exploration project and lies mostly under calcrete cover on the regional scale Karibib Fault, approximately 25km along strike from the producing Navachab Gold Mine (~6moz in past production and remaining resource, discovered by Anglo American in 1984). Osino has secured a total length of 70km of the Karibib Fault Zone under exclusive exploration license.
The technical information in this news release has been reviewed and approved by David Underwood, a Chartered Professional Geologist (SACNASP), and a Qualified Person for the purposes of National Instrument 43-101.
All Osino sample assay results have been independently monitored through a quality assurance / quality control ("QA/QC") program including the insertion of blind standards, blanks and duplicate samples. QA/QC samples make up 10% of all samples submitted. Logging and sampling are completed at Osino’s secure facility located in Omaruru near the Twin Hills Project. Drill core is sawn in half on site and half drill-core samples are securely transported to the Actlabs sample prep facility in Windhoek, Namibia. The core is dried, crushed to 95% -10mesh, split to 250g and pulverised to 95% -150mesh. Sample pulps are sent to Actlabs in Ontario, Canada for analysis. Gold analysis is by 30g fire assay with AA finish and automatically re-analysed with Gravimetric finish if Au >5 g/t. In addition, pulps undergo 4-Acid digestion and multi-element analysis by ICP-AES or ICP-MS.
Bedrock samples are prepared at Actlabs sample prep facility in Windhoek, Namibia. Samples are dried, crushed to 95% -10mesh, split to 250g and pulverised to 95% -150mesh. Sample pulps are sent to Actlabs in Ontario, Canada for analysis. Gold analysis is by 30g fire assay with AA finish and automatically re-analysed with Gravimetric finish if Au >5 g/t. Calcrete samples are prepared at Intertek Analysis, Johannesburg, South Africa. Samples are dried, crushed to ~10mm and pulverised (300g up to 1.2kg). A split of 120g is shipped to the Intertek Analysis laboratory in Perth, Australia. Samples (10g) are leached in cyanide for 24 hours and analyzed for gold using ICPMS with an ultra-low detection limit of 0.01ppb. Additional elements analyzed are Ag, Cu and As.
About Osino Resources
Osino is a Canadian gold exploration company, focused on the acquisition and development of gold projects in Namibia. Osino is targeting gold mineralization that fits the broad orogenic gold model. We are actively advancing a range of gold discoveries, prospects and targets across our 6,700km2 ground position by utilizing a portfolio approach geared towards discovery. Our 22 exclusive exploration licenses are located within Namibia’s prospective Damara mineral belt, mostly in proximity to and along strike of the producing Navachab and Otjikoto Gold Mines.
Osino’s flagship project is the Twin Hills Gold Project, which is mostly covered by a thick layer of calcrete and lies on the regional scale Karibib Fault, approximately 25km along strike from the producing Navachab Gold Mine (~6moz in past production and remaining resource, discovered by Anglo American in 1984). Osino has secured a total length of 70km of the Karibib Fault Zone under exclusive exploration license.
Osino’s focus in 2019 is on further advancing the Twin Hills and Goldkuppe discoveries within the developing Karibib Gold District, testing our Otjikoto East and Otjiwarongo targets and generating new ones on our remaining licenses. Our core projects are favorably located north-west of Namibia’s capital city Windhoek. By virtue of their location, the projects benefit significantly from Namibia’s well-established infrastructure with paved highways, railway, power and water in close proximity.
Namibia is mining-friendly and lauded as one of the continent’s most politically and socially stable jurisdictions. Osino continues to evaluate new ground with a view to expanding its Namibian portfolio.
Further details are available on the Company's website at https://osinoresources.com/
Osino Resources Corp.
Heye Daun: CEO
Tel: +27 (21) 418 2525
Julia Becker: Investor Relations Manager
Tel: +1 (604) 785 0850
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.