Business
G2 Goldfields Drills 24m @ 2 g/t Au in New Gold Discovery
TORONTO, March 18, 2025 (GLOBE NEWSWIRE) -- G2 Goldfields Inc. (“G2” or the “Company”) (TSX: GTWO; OTCQX: GUYGF) is pleased to announce that its exploration tea
About this update from G2 Goldfields, Inc.
[{"type":"text","content":" 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 th...