G2 Drills 24m @ 2 g/t Au in New Gold Discovery
G2 Goldfields (TSX: GTWO; OTCQX: GUYGF) has announced a significant new gold discovery north of its OKO Project in Guyana. The discovery follows the company's recent mineral resource estimate update of 1.5 million ounces (Indicated) and 1.6 million ounces (Inferred) of gold announced on March 10th, 2025.
Initial drilling revealed promising results with four out of five diamond drill holes intercepting shallow gold mineralization along a 420m strike length. The mineralized intercepts are within 60m of surface and remain open in all directions. The discovery area, identified through stream sediment sampling in 2023-2024, covers a 1400m x 900m zone.
The company also announced an increase in funding for its planned G3 Goldfields spin-out, raising the cash component from C$10 million to C$15 million. The newly discovered gold zone falls within the proposed G3 spin-out portfolio properties.
G2 Goldfields (TSX: GTWO; OTCQX: GUYGF) ha annunciato una significativa nuova scoperta d'oro a nord del suo Progetto OKO in Guyana. La scoperta segue l'aggiornamento recente della stima delle risorse minerarie della società, che ha annunciato 1,5 milioni di once (Indicate) e 1,6 milioni di once (Inferred) d'oro il 10 marzo 2025.
Le prime perforazioni hanno rivelato risultati promettenti, con quattro dei cinque fori di perforazione a diamante che hanno intercettato mineralizzazioni d'oro superficiali lungo un 420m di lunghezza. Le intercettazioni mineralizzate si trovano entro 60m dalla superficie e rimangono aperte in tutte le direzioni. L'area della scoperta, identificata tramite campionamento di sedimenti fluviali nel 2023-2024, copre una zona di 1400m x 900m.
La società ha anche annunciato un aumento del finanziamento per il suo previsto spin-off G3 Goldfields, aumentando la componente in contante da C$10 milioni a C$15 milioni. La nuova zona d'oro scoperta rientra nelle proprietà del portafoglio proposto per lo spin-off G3.
G2 Goldfields (TSX: GTWO; OTCQX: GUYGF) ha anunciado un nuevo descubrimiento significativo de oro al norte de su Proyecto OKO en Guyana. Este descubrimiento sigue la reciente actualización de la estimación de recursos minerales de la compañía, que anunció 1.5 millones de onzas (Indicadas) y 1.6 millones de onzas (Inferidas) de oro el 10 de marzo de 2025.
Las primeras perforaciones revelaron resultados prometedores, con cuatro de cinco perforaciones de diamante interceptando mineralización de oro superficial a lo largo de un 420m de longitud. Las interceptaciones mineralizadas se encuentran a 60m de la superficie y permanecen abiertas en todas las direcciones. El área del descubrimiento, identificada a través de muestreo de sedimentos fluviales en 2023-2024, cubre una zona de 1400m x 900m.
La compañía también anunció un aumento en la financiación para su planeado spin-off G3 Goldfields, elevando el componente en efectivo de C$10 millones a C$15 millones. La nueva zona de oro descubierta forma parte de las propiedades del portafolio propuesto para el spin-off G3.
G2 Goldfields (TSX: GTWO; OTCQX: GUYGF)는 가이아나의 OKO 프로젝트 북쪽에서 중요한 새로운 금 발견을 발표했습니다. 이 발견은 2025년 3월 10일에 발표된 150만 온스 (지시) 및 160만 온스 (추정)의 광물 자원 추정치 업데이트에 따른 것입니다.
초기 시추 결과는 다이아몬드 시추공 5개 중 4개가 420m 길이에 걸쳐 얕은 금 광물화층을 관통한 유망한 결과를 보여주었습니다. 광물화된 인터셉트는 지표에서 60m 이내에 있으며 모든 방향으로 열려 있습니다. 발견 지역은 2023-2024년 동안 하천 침전물 샘플링을 통해 확인되었으며, 1400m x 900m 구역을 포함합니다.
회사는 또한 계획된 G3 Goldfields 스핀오프를 위한 자금을 증가시켜 현금 구성 요소를 C$1000만에서 C$1500만으로 늘렸습니다. 새로 발견된 금 구역은 제안된 G3 스핀오프 포트폴리오의 자산에 포함됩니다.
G2 Goldfields (TSX: GTWO; OTCQX: GUYGF) a annoncé une nouvelle découverte d'or significative au nord de son projet OKO en Guyane. Cette découverte fait suite à la récente mise à jour de l'estimation des ressources minérales de l'entreprise, qui a annoncé 1,5 million d'onces (indiquées) et 1,6 million d'onces (inférées) d'or le 10 mars 2025.
Les premières forages ont révélé des résultats prometteurs, avec quatre des cinq forages diamantés interceptant une minéralisation d'or peu profonde sur une longueur de 420m. Les interceptions minéralisées se trouvent à 60m de la surface et restent ouvertes dans toutes les directions. La zone de découverte, identifiée par l'échantillonnage des sédiments fluviaux en 2023-2024, couvre une zone de 1400m x 900m.
L'entreprise a également annoncé une augmentation du financement pour son projet de spin-off G3 Goldfields, portant le montant en espèces de 10 millions de C$ à 15 millions de C$. La nouvelle zone d'or découverte fait partie des propriétés proposées pour le portefeuille de spin-off G3.
G2 Goldfields (TSX: GTWO; OTCQX: GUYGF) hat eine bedeutende neue Goldentdeckung nördlich seines OKO-Projekts in Guyana bekannt gegeben. Diese Entdeckung folgt auf das kürzliche Update der Mineralressourcenschätzung des Unternehmens, das am 10. März 2025 1,5 Millionen Unzen (angezeigt) und 1,6 Millionen Unzen (abgeleitet) Gold angekündigt hat.
Die ersten Bohrungen zeigten vielversprechende Ergebnisse, da vier von fünf Diamantbohrlöchern flache Goldmineralisierungen über eine 420m lange Strecke durchteuften. Die mineralisierten Einschnitte befinden sich innerhalb von 60m von der Oberfläche und sind in alle Richtungen offen. Das Entdeckungsgebiet, das durch Sedimentprobenahme in 2023-2024 identifiziert wurde, umfasst eine 1400m x 900m große Zone.
Das Unternehmen gab auch eine Erhöhung der Finanzierung für sein geplantes G3 Goldfields Spin-off bekannt, indem es die Bar-Komponente von C$10 Millionen auf C$15 Millionen erhöht hat. Die neu entdeckte Goldzone fällt in die vorgeschlagenen G3 Spin-off Portfolio-Eigentümer.
- New significant gold discovery with shallow mineralization within 60m of surface
- Recent resource update confirms 3.1M oz total gold resource (1.5M oz Indicated + 1.6M oz Inferred)
- Successful early-stage exploration with 4 out of 5 holes hitting gold mineralization
- Increased cash funding for G3 spin-out from C$10M to C$15M
- True widths of mineralization yet to be determined
- Insufficient drilling to determine capping levels for higher grade intercepts
TORONTO, March 18, 2025 (GLOBE NEWSWIRE) -- G2 Goldfields Inc. (“G2” or the “Company”) (TSX: GTWO; OTCQX: GUYGF) is pleased to announce that its exploration teams have made a significant gold discovery several miles north of G2’s existing gold resource at the OKO Project, Guyana. On March 10th, 2025, G2 announced an updated mineral resource estimate (MRE) of 1.5 million ounces of gold (Indicated) and 1.6 million ounces of gold (Inferred) at the OKO Project. G2 is currently executing on district scale exploration programs across its exploration portfolio in Guyana currently comprised of 83,967 acres of exploration rights.
History of Discovery
Stream sediment sampling conducted by G2 in the discovery area in 2023 and 2024 returned highly anomalous values. Follow up soil sampling campaigns outlined a series of anomalous gold zones in a 1400m x 900m area. The initial eight-hole diamond drilling program focused on mapped parallel shear zones associated with the more southerly anomalous areas. Significantly, four of five diamond drill holes targeting the most prominent shear intercepted shallow gold mineralization along a 420m strike length.
| TABLE 1 – Assay Results | |||||
| HOLE ID | FROM | TO | INT (M) | AU G/T | GRADE x WIDTH |
| AMD-1 | 3.1 | 15.0 | 11.9 | 2.2 | 25.9 |
| AMD-2 | 22.6 | 29.5 | 6.9 | 4.3 | 29.4 |
| AMD-7 | 1.5 | 3.0 | 1.5 | 1.0 | 1.4 |
| AMD-7 | 21.0 | 31.5 | 10.5 | 1.5 | 16.2 |
| Incl. | 27.0 | 30.0 | 3.0 | 3.9 | 11.6 |
| AMD-8 | 52.5 | 76.5 | 24.0 | 2.0 | 47.0 |
| Incl. | 61.2 | 70.5 | 9.3 | 2.8 | 25.8 |
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.
Notably, all mineralized intercepts lie within 60m of surface and the mineralized zone remains open in all directions. Mineralization is hosted by sheared magnetite bearing mafic volcanics. These volcanics lie within a major NE trending greenstone belt that has been deformed between two regional batholiths. Drilling is ongoing and multiple target areas remain untested.
FIGURE 1 – Plan View
FIGURE 2 – Plan View with Topography
Patrick Sheridan, G2 Executive Chairman, stated “This new discovery is a testament to the very high quality of our exploration portfolio and the exceptional talents of our exploration team led by Dan Noone (CEO) and Boaz Wade (VP Exploration). This is a brand-new discovery from ‘first principles’ and we look forward to additional exploration success from our team, partners, and portfolio of properties.”
Additional Funding Approved for G3 Spin-out
This most recent gold discovery lies within properties in the proposed G3 Goldfields Inc. (“G3”) spin-out portfolio. G2 intends to distribute G3 shares to existing shareholders (see Press Releases dated January 28, 2025 and January 14, 2025). The G2 board of directors has decided it is in the best interest of G2 shareholders to spin-out the G3 assets with C
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 Goldfield’s quality control/quality assurance program (QAQC). No QA/QC issues were noted with the results reported herein.
About G2 Goldfields Inc.
The G2 Goldfields team is comprised of professionals who have been directly responsible for the discovery of millions of ounces of gold in Guyana as well as the financing and development of the Aurora Gold Mine, Guyana’s largest gold mine [RPA, 43-101, Technical Report on the Aurora Gold Mine, March 31, 2020].
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 combined 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 370 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.
AngloGold Ashanti (NYSE:AU) currently holds 35,948,965 shares representing
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 executing on district scale exploration programs across its exploration portfolio, mineralized zone remains open in all directions, drilling is ongoing and multiple target areas remain untested, G2 intends to distribute G3 shares to existing shareholders, the G2 board of directors has decided it is in the best interest of G2 shareholders to spin-out the G3 assets with C
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.
Neither the TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy and / or accuracy of this release.
Figures accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/ae6d1b5b-3300-4b4a-b4f8-29c86f5924b4
https://www.globenewswire.com/NewsRoom/AttachmentNg/10e039ff-2574-4d30-826b-d492427d0587
FAQ
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