G2 Drills Multiple High-Grade Gold Intercepts

TORONTO, May 06, 2021 (GLOBE NEWSWIRE) -- G2 Goldfields Inc. (“G2” or the “Company”) (TSXV: GTWO; OTCQX: GUYGF) is pleased to provide an update on the Company’s exploration program at the Oko project, Guyana. Diamond drilling recommenced March 12, 2021, and to date, an additional seven holes totalling 2,421 metres have been completed. The Company has received assay results for two of the seven holes, and results are reported herein.

 

G2 continues to refine its geological model for Oko. Drilling has established at least six shear zones from surface to 430 metres in vertical depth. High-grade gold mineralization has been established over a strike length in excess of 850 metres, with coarse visible gold common within individual shear zones, pinching and swelling along both vertical and horizontal planes.

 

Hole OKD – 65 intercepted two high-grade zones, including 5m @ 19.0 g/t Au and 6.5m @ 12.9 g/t Au before being terminated at 332 metres. Additionally, hole OKD – 66 returned 1.7m @ 33.3 g/t Au as well as 6.5m @ 15.3 g/t Au. Additional assays are pending from hole OKD – 66, which was terminated at 533 metres. True widths of mineralization are estimated at 85% to 97% of the reported down-hole widths, and a full set of assays and further information is available at the following link https://g2goldfields.com/wp-content/uploads/2021/05/OKOTABLE01_MAY20216.pdf.

 

Dan Noone, G2 CEO, stated, “The Oko high-grade expansion program continues to deliver impressive gold intercepts. Several of the remaining holes contain visible gold mineralization, and we look forward to providing additional assays as they become available.”

 

Boaz Wade, G2 V.P. Exploration, added, “The occurrence of high-grade gold in multiple adjacent shears in Oko is confirming our model. We are excited to keep expanding the mineralization and unlock the full potential of this system.”

 

QA/QC

 

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 analysed 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.

 

For further information please contact:

 

Dan Noone

CEO

+1.416.628.5904

Email: d.noone@g2goldfields.com