G2 Continues to Expand New Surface Gold Discovery and Provides Exploration Update
G2 Goldfields (TSX: GTWO; OTCQX: GUYGF) has reported significant progress in its ongoing diamond drilling program at the Oko-Aremu District, Guyana. The company has expanded a new surface gold discovery located 10 kilometers north of the Oko-Ghanie deposits, which currently host 1.5 million ounces of gold averaging 3.40 g/t Au (Indicated) and 1.6 million ounces (Inferred) averaging 2.48 g/t Au.
Key drilling results include:
- AMD 13: 42.0m @ 1.4 g/t Au (including 7.5m @ 6.3 g/t Au)
- AMD 14: 41.0m @ 1.2 g/t Au (including 3.0m @ 6.0 g/t Au)
- AMD 15: 50.5m @ 1.1 g/t Au (including 7.5m @ 4.6 g/t Au)
The drilling has established a strike length of nearly 500m, with the auriferous zone remaining open to the southwest and northeast. The mineralized intercepts are primarily within near-surface, heavily oxidized zones. The company has also completed four diamond drill holes at the Peters Mine property, with results pending.
G2 Goldfields (TSX: GTWO; OTCQX: GUYGF) ha annunciato progressi significativi nel suo programma di perforazioni diamantate in corso nel Distretto Oko-Aremu, Guyana. La società ha ampliato una nuova scoperta aurifera superficiale situata a 10 chilometri a nord dei depositi Oko-Ghanie, che attualmente contengono 1,5 milioni di once d'oro con una media di 3,40 g/t Au (Indicato) e 1,6 milioni di once (Inferito) con una media di 2,48 g/t Au.
I risultati chiave delle perforazioni includono:
- AMD 13: 42,0 m @ 1,4 g/t Au (inclusi 7,5 m @ 6,3 g/t Au)
- AMD 14: 41,0 m @ 1,2 g/t Au (inclusi 3,0 m @ 6,0 g/t Au)
- AMD 15: 50,5 m @ 1,1 g/t Au (inclusi 7,5 m @ 4,6 g/t Au)
Le perforazioni hanno definito una lunghezza di quasi 500 m, con la zona aurifera ancora aperta a sud-ovest e nord-est. Gli intersezioni mineralizzate si trovano principalmente in zone superficiali fortemente ossidate. La società ha inoltre completato quattro perforazioni diamantate nella proprietà Peters Mine, con risultati in attesa di pubblicazione.
G2 Goldfields (TSX: GTWO; OTCQX: GUYGF) ha reportado avances significativos en su programa de perforación diamantina en curso en el Distrito Oko-Aremu, Guyana. La compañía ha ampliado un nuevo descubrimiento de oro en superficie ubicado a 10 kilómetros al norte de los depósitos Oko-Ghanie, que actualmente contienen 1.5 millones de onzas de oro con un promedio de 3.40 g/t Au (Indicado) y 1.6 millones de onzas (Inferido) con un promedio de 2.48 g/t Au.
Los resultados clave de la perforación incluyen:
- AMD 13: 42.0 m @ 1.4 g/t Au (incluyendo 7.5 m @ 6.3 g/t Au)
- AMD 14: 41.0 m @ 1.2 g/t Au (incluyendo 3.0 m @ 6.0 g/t Au)
- AMD 15: 50.5 m @ 1.1 g/t Au (incluyendo 7.5 m @ 4.6 g/t Au)
La perforación ha establecido una longitud de rumbo de casi 500 m, con la zona aurífera aún abierta hacia el suroeste y noreste. Las intercepciones mineralizadas se encuentran principalmente en zonas superficiales fuertemente oxidadas. La compañía también ha completado cuatro perforaciones diamantinas en la propiedad Peters Mine, con resultados pendientes.
G2 Goldfields (TSX: GTWO; OTCQX: GUYGF)는 가이아나 오코-아레무 지구에서 진행 중인 다이아몬드 시추 프로그램에서 중요한 진전을 보고했습니다. 회사는 현재 150만 온스의 금(평균 3.40 g/t Au, 확인자원)과 160만 온스(평균 2.48 g/t Au, 추정자원)를 보유한 오코-가니 예금에서 북쪽으로 10km 떨어진 새로운 지표 금 발견 지역을 확장했습니다.
주요 시추 결과는 다음과 같습니다:
- AMD 13: 42.0m @ 1.4 g/t Au (그중 7.5m @ 6.3 g/t Au 포함)
- AMD 14: 41.0m @ 1.2 g/t Au (그중 3.0m @ 6.0 g/t Au 포함)
- AMD 15: 50.5m @ 1.1 g/t Au (그중 7.5m @ 4.6 g/t Au 포함)
시추 결과 약 500m 길이의 주향을 확인했으며, 금광대는 남서쪽과 북동쪽으로 계속 열려 있습니다. 광화 구간은 주로 표면 근처의 심하게 산화된 구간에 위치합니다. 또한 회사는 Peters Mine 부지에서 4개의 다이아몬드 시추공을 완료했으며 결과는 아직 대기 중입니다.
G2 Goldfields (TSX : GTWO ; OTCQX : GUYGF) a annoncé des progrès significatifs dans son programme de forage diamanté en cours dans le district Oko-Aremu, en Guyane. La société a étendu une nouvelle découverte d'or en surface située à 10 kilomètres au nord des gisements Oko-Ghanie, qui contiennent actuellement 1,5 million d'onces d'or avec une moyenne de 3,40 g/t Au (indiqué) et 1,6 million d'onces (inféré) avec une moyenne de 2,48 g/t Au.
Les principaux résultats des forages comprennent :
- AMD 13 : 42,0 m @ 1,4 g/t Au (dont 7,5 m @ 6,3 g/t Au)
- AMD 14 : 41,0 m @ 1,2 g/t Au (dont 3,0 m @ 6,0 g/t Au)
- AMD 15 : 50,5 m @ 1,1 g/t Au (dont 7,5 m @ 4,6 g/t Au)
Le forage a établi une longueur de tracé de près de 500 m, la zone aurifère restant ouverte au sud-ouest et au nord-est. Les intersections minéralisées se situent principalement dans des zones proches de la surface, fortement oxydées. La société a également terminé quatre forages diamantés sur la propriété Peters Mine, les résultats sont en attente.
G2 Goldfields (TSX: GTWO; OTCQX: GUYGF) hat bedeutende Fortschritte bei seinem laufenden Diamantbohrprogramm im Oko-Aremu-Distrikt in Guyana gemeldet. Das Unternehmen hat eine neue oberflächennahe Goldentdeckung erweitert, die 10 Kilometer nördlich der Oko-Ghanie-Lagerstätten liegt, welche derzeit 1,5 Millionen Unzen Gold mit einem Durchschnitt von 3,40 g/t Au (angezeigt) und 1,6 Millionen Unzen (vermutet) mit einem Durchschnitt von 2,48 g/t Au beherbergen.
Wesentliche Bohrergebnisse umfassen:
- AMD 13: 42,0 m @ 1,4 g/t Au (einschließlich 7,5 m @ 6,3 g/t Au)
- AMD 14: 41,0 m @ 1,2 g/t Au (einschließlich 3,0 m @ 6,0 g/t Au)
- AMD 15: 50,5 m @ 1,1 g/t Au (einschließlich 7,5 m @ 4,6 g/t Au)
Die Bohrungen haben eine Streichlänge von fast 500 m festgestellt, wobei die goldführende Zone nach Südwesten und Nordosten offen bleibt. Die mineralisierten Abschnitte befinden sich hauptsächlich in oberflächennahen, stark oxidierten Zonen. Das Unternehmen hat außerdem vier Diamantbohrlöcher auf dem Peters Mine Grundstück abgeschlossen, deren Ergebnisse noch ausstehen.
- New gold discovery expanded with significant intercepts up to 50.5m @ 1.1 g/t Au
- Strike length extended to 500m and remains open in both directions
- Near-surface mineralization in oxidized zones, potentially favorable for mining
- Multiple parallel shear structures identified for additional exploration
- Existing resource base of 3.1M oz gold with good grades (3.40 g/t Au Indicated, 2.48 g/t Au Inferred)
- True widths of mineralization not yet determined
- Insufficient drilling to determine capping levels for higher grade intercepts
- G2 drills 41m @ 1.2 g/t Au & 50m @ 1.1 g/t Au and continues to expand significant new gold discovery
- Regional soil sampling surveys and mapping continue to generate high value drill targets
- Scout drilling at the Peters Mine property is underway with four holes completed
TORONTO, April 28, 2025 (GLOBE NEWSWIRE) -- G2 Goldfields Inc. (“G2” or the “Company”) (TSX: GTWO; OTCQX: GUYGF) provides further information on the Company’s ongoing diamond drilling and exploration initiatives in the greater Oko-Aremu District, Guyana. G2 currently holds exploration rights to 83,967 acres in the district which includes the Oko-Ghanie deposits hosting 1.5 million ounces of gold averaging 3.40 g/t Au (Indicated) and 1.6 million ounces of gold averaging 2.48 g/t Au (Inferred).
New Gold Discovery – Ongoing Diamond Drilling
Diamond drilling continues to define and expand this exciting new surface discovery located 10 kilometres north of the Oko-Ghanie deposits. Drilling has now established a strike length of nearly 500m with the auriferous zone remaining open to the southwest and northeast. Significantly, almost all of the mineralized intercepts to date lie within near surface, heavily oxidized zones. Table 1 contains the latest assays.
| TABLE 1 – Assay Results | ||||||||
| HOLE ID | FROM | TO | INT (M) | AU (G/T) | ||||
| AMD 13 | 90.0 | 132.0 | 42.0 | 1.4 | ||||
| Incl. | 97.5 | 105.0 | 7.5 | 6.3 | ||||
| AMD 13 | 148.5 | 155.5 | 7.0 | 0.6 | ||||
| AMD 14 | 25.5 | 27.0 | 1.5 | 1.0 | ||||
| AMD 14 | 63.0 | 104.0 | 41.0 | 1.2 | ||||
| Incl. | 80.5 | 83.5 | 3.0 | 6.0 | ||||
| AMD 15 | 44.5 | 95.0 | 50.5 | 1.1 | ||||
| Incl. | 81.0 | 88.5 | 7.5 | 4.6 | ||||
Notes to Table 1: Widths are drill indicated core length as insufficient drilling has been undertaken to determine true widths at this time. Average grades are calculated with un-capped gold assays, as insufficient drilling has been completed to determine capping levels for higher grade intercepts.
Hole AMD 13 (42m @ 1.4 g/t Au) successfully tested the down plunge continuity of previously reported hole AMD 8 (24m @ 2 g/t Au). Hole AMD 14 (41m @ 1.2 g/t Au) is a 50m step out to the northeast. Hole AMD 15, which returned 50.5m @ 1.1 g/t Au, helped to fill a 200m+ gap between AMD 8, 13, and previously reported AMD 12 (43.7m @ 1.9 g/t Au). G2 will be aggressively drilling both strike and down-plunge extensions of this new surface discovery.
Figure 1 – New Gold Discovery Oblique View of Drilling
Figure 2 – New Gold Discovery Long Section Looking Northwest
Geological mapping and gold-in-soil sampling has identified several parallel shear structures north of the current area of drilling. First pass scout drilling of these prominent targets will begin in the coming weeks in tandem with drilling in the southern discovery area.
Figure 3 – New Gold Discovery Soil Geochemistry and Geology
Patrick Sheridan, Executive Chairman, stated “This latest discovery is very important as it has the potential to significantly expand and enhance our existing multi-million ounce resource at OKO, located only 10 kilometres to the south. Additionally, the regional geochemical work continues to deliver other high priority targets which we will systematically drill in the coming weeks and months.”
Peters Mine Drilling
G2 has completed four diamond drill holes totalling 744 meters at the Peters Mine property. A further six holes are currently being planned and results from the initial drilling will be available shortly.
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 mineralisation are analysed 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 analysed 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 Goldfields’ quality control/quality assurance program (QAQC). No QA/QC issues were noted with the results reported herein.
About G2 Goldfields Inc.
G2 Goldfields finds and develops gold deposits in Guyana. The founders and principals of the Company have been directly responsible for the discovery of more than 10 million ounces of gold in the prolific and underexplored Guiana Shield. G2 continues this legacy of exploration excellence and success.
In March 2025, G2 announced an Updated Mineral Resource Estimate (“MRE”) for the Oko property in Guyana [see press release dated March 10, 2025]. Highlights of the Updated MRE include:
Total combined open pit and underground Resource for the Oko Main Zone (OMZ):
- 513,500 oz. Au – Inferred contained within 3,473,000 tonnes @ 4.60 g/t Au
- 808,000 oz. Au – Indicated contained within 3,147,000 tonnes @ 7.98 g/t Au
Total combined open pit and underground Resource for the Ghanie Zone:
- 1,024,500 oz. Au – Inferred contained within 12,062,000 tonnes @ 2.64 g/t Au
- 663,400 oz. Au – Indicated contained within 10,288,000 tonnes @ 2.01 g/t Au
Total open pit Resource for the Oko NW Zone:
- 97,200 oz. Au – Inferred contained within 4,976,000 tonnes @ 0.61 g/t Au
The MRE was prepared by Micon International Limited with an effective date of March 1, 2025. Significantly, the updated mineral resources lie within an average depth of 665 metres of surface. The Oko district has been a prolific alluvial goldfield since its initial discovery in the 1870s, and modern exploration techniques continue to reveal the considerable potential of the district.
All scientific and technical information in this news release has been reviewed and approved by 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 Fellow of the Australian Institute of Geoscientists.
Additional information about the Company is available on SEDAR+ (www.sedarplus.ca) and the Company's website (www.g2goldfields.com).
On behalf of the Board of G2 Goldfields Inc.
“Daniel Noone”
CEO & Director
For Further Information
Jacqueline Wagenaar, VP Investor Relations
Direct: +1.416.628.5904
Email: j.wagenaar@g2goldfields.com
Forward-Looking Statements
This news release contains certain forward-looking statements, including, but not limited to, statements about the gold discovery remaining open to the southwest and northeast, G2 will be aggressively drilling both strike and down-plunge extensions of this new surface discovery, first pass scout drilling of prominent targets will begin in the coming weeks in tandem with drilling in the southern discovery area, six holes at Peters Mine are currently being planned and results from the initial drilling will be available shortly. Wherever possible, words such as “may”, “will”, “should”, “could”, “expect”, “plan”, “intend”, “schedule”, “anticipate”, “believe”, “estimate”, “predict” or “potential” or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management’s current beliefs and are based on information currently available to management as at the date hereof.
Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements, including the risk factors set out in the management information circular of the Company dated December 20, 2024. These factors should be considered carefully and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this news release are based upon what management believes to be reasonable assumptions, the Company cannot assure readers that actual results will be consistent with these forward-looking statements. The Company assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.
Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/a6d9e31a-351c-4151-af35-ed4aed4bb2a3
https://www.globenewswire.com/NewsRoom/AttachmentNg/7a2dd93a-b92b-4f8a-a365-c85a27232af7
https://www.globenewswire.com/NewsRoom/AttachmentNg/ad4ba12b-ea19-440c-b4ff-6ede76041b82
FAQ
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