Market Herald logo

Subscribe

Be the first with the news that moves the market
  • G2 Goldfields (TSXV:GTWO) have announced an update for its Guyana drill program
  • 16 drill holes totalling 3km in length have assays pending
  • All drill holes have returned visible gold 
  • The drilling program is ongoing, with further programs scheduled to begin in Q3 2020 
  • G2 Goldfields (GTWO) is currently trading up 3.5 per cent at C$0.29 per share with a market cap of $30 million 

G2 Goldfields (TSXV:GTWO) has announced an update at its Oko project in Guyana, where the company is awaiting results from a 16-hole drill program.

The Toronto based company has leased two properties in South America that formerly produced gold, with a collection of prospective sites in the region.

The 19,200-acre project contains multiple areas of gold mineralization, the most prominent of which includes the Aremu Mine Zone and the Oko Deformation Zone.

The Oko Zone has been the focus of the company’s latest drill program on the site, with drilling starting on the leases in March of this year.

Drilling at Aremu is scheduled for Q3 2020.

The Oko area has multiple open-pits and shafts along a prominent 2km long north-south trend of mineralization.

G2 has completed a total of 35 drill holes on the site, totalling 6km. Of this, some 16 drill holes totalling 3km are pending assays.

Drilling on site supports the geological model the company have mapped, developed in the late part of their 2019 drill program.

Visible gold has been intersected in each of G2’s 16 drill holes currently pending assay results, which bodes well for the results.

Core intersections containing visible gold are subject to metallic screening in order to account for the course nature of the gold.

Furthermore, G2 has announced it has started a 10-hole drill program at a new acquired property one km south of the area recently drilled.

Initial reports from this Oko South site suggest a similar mineralization pattern as well as numerous open-pits and at least three vertical shafts.

All future drilling planned for this site intends to start at the areas in which historic gold operations were located.

G2 Goldfields (GTWO) is currently trading up 3.5 per cent at $0.29 per share at 2:22 pm EST. 

More From The Market Herald

" Fortuna (TSX:FVI) reports production increase

Fortuna Silver Mines (FVI) has reported solid production results for its third fiscal quarter from its four operating mines in the Americas and

" Sanu Gold (CSE:SANU) begins trading on the OTCQB

Common shares of Sanu Gold Corporation (SANU) have begun trading on the OTCQB under the symbol SNGCF.

" First Tellurium (CSE:FTEL) conducts channel sampling on multiple copper targets at Deer Horn

First Tellurium (FTEL) has conducted channel sampling on multiple copper targets at Deer Horn Property in British Columbia.

" Westhaven Gold (TSXV:WHN) completes sale of royalties and private placement with Franco-Nevada (TSX:FNV)

Westhaven Gold Corp. (WHN) has completed the royalty sales and private placement.