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G2 Goldfields Announces Inferred Resource of 974,000 ounces Au (@ 9.25 g/t) and Indicated Resource of 220,000 ounces Au (@ 8.63 g/t)
TORONTO, April 25, 2022 (GLOBE NEWSWIRE) -- G2 Goldfields Inc. (“G2” or the “Company”) (TSXV: GTWO; OTCQX: GUYGF) is pleased to announce the maiden underground
About this update from G2 Goldfields, Inc.
[{"type":"text","content":" TORONTO, April 25, 2022 (GLOBE NEWSWIRE) -- G2 Goldfields Inc. (“G2” or the “Company”) (TSXV: GTWO; OTCQX: GUYGF) is pleased to announce the maiden underground mineral resource estimate at the Oko Main Zone (OMZ) located within the 27,608-acre OKO-AREMU Project, Guyana. Highlights of the resource include: 974,000 oz. Au – Inferred contained within 3,274,000 tonnes @9.25 g/t Auand 220,000 oz. Au – Indicated contained within 793,000 tonnes @ 8.63 g/t Au G2’s resource study was prepared to National Instrument 43-101 standards by Micon International Limited and is based on 98 intersecting drill holes. The resource study estimates the gold content hosted by three primary shear zones (S3, S4, & S5) which vary in length between 350 and 750 metres and have been explored to a maximum depth of approximately 350m, where they remain wide open. Additionally, shear zones 4 and 5 are both open along strike to the north. The Company has mobilized three diamond drill rigs to rapidly build upon the high-grade foundational resource. Mineral Resources for the Oko Mine Deposit, Reported at a 4.0 g/t gold cut-off Category Zone Mass(Kt) Average Grades Contained Metal Au(g/t) Au(oz) Indicated S3 469 8.66 131,000 S4 323 8.59 89,000 Total 793 8.63 220,000 Inferred S3 1,776 7.67 438,000 S4 122 6.37 25,000 S5 1,375 11.55 511,000 Total 3,274 9.25 974,000 Notes: Effective date April 14, 2022; CIM definitions were followed for Mineral Resources. The wireframes are based on shear zone lithology and a base cut-off grade of 1.0 g/t gold. The wireframes are snapped to the drill hole traces and have been modeled to a minimum horizontal width of 1.5m The mineral resource is estimated using 1,155 composites of 1 m equal length, selected from 98 intersecting diamond drill holes. A combination of restricted search ellipse and grade capping after compositing have been applied on each shear zone to mitigate the influence of outliers. Capping grade are S1 = 7.0 g/t Au, S2 = 3.0 g/t Au, S3 = 35.0 g/t Au, S4 = 70.0 g/t Au, S5 = 60.0 g/t Au and S3S = 2.0 g/t Au The economic underground mining cut-off is calculated to be 2.0 g/t Au derived from a gold price of US$1,700/oz with a metallurgical recovery of 85%, mining cost of US$75.0/t, processing cost of US$15.0/t, and a G&A cost of US$2.5/t. G2 Goldfields decided to report this mineral resource at a higher cut-...