- O2Gold (OTGO) has begun a 2,000 m drilling program at the Aparecida Brownfield in Antioquia, Colombia
- The Fortaleza Vein, the company’s first target, yielded rock channel samples returning up to 42.3 g/t gold and 49.6 g/t silver
- Management continues to reinforce the Aurora Mine and expects it to be fully accessible in Q1 of next year
- Several samples from the mine’s tunnels show grades equal to or greater than 30 g/t gold
- O2Gold is a mineral exploration company focused on a 30,000-ha land package in Colombia
- O2Gold (OTGO) is down by 17.65 per cent and is currently trading at $0.14 per share
O2Gold (OTGO) has begun a 2,000 m drilling program at the Aparecida Brownfield in Antioquia, Colombia.
Exploration at Aparecida – which has been the site of artisanal production going back more than a century – indicates an anastomosed pattern with vein mineralization in close proximity.
O2 has documented five gold veins in the area and three veinlets at surface. The Fortaleza Vein, the company’s first target, has a projected extension of at least 400 m with rock channel samples returning up to 42.3 g/t gold and 49.6 g/t silver.
The company continues to drill the main Aurora Vein to prove its extension along dip and strike. There are indications that it reaches into the Quintanillo Brownfield to the south, where an additional 2,000 m of scout drilling will delineate the vein system.
O2 has also been recuperating the formerly productive Aurora mining tunnels and its two entrances. It has reinforced the mine’s adits and tunnels, installing both electricity and ventilation, with the intention of draining the tunnels in Q4 2021. Management expects the mine to be fully accessible in Q1 of next year.
Several samples from the tunnels show grades equal to or greater than 30 g/t gold, which indicates variability to the mineralization seen in the company’s drill results.
The company has a 30-year exploitation license at the Aurora Mine and must meet minimum production requirements in 2022.
O2Gold is a mineral exploration company focused on a 30,000-ha land package in Colombia.
O2Gold (OTGO) is down by 17.65 per cent and is currently trading at $0.14 per share as of 10:42 am ET.
