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G2 GOLDFIELDS provides Exploration Update at Sandy Lake Project
TORONTO, June 04, 2019 (GLOBE NEWSWIRE) -- G2 Goldfields Inc. (TSXV: GTWO) (the “Company”) is pleased to provide an exploration update on the Company’s ongoing
About this update from G2 Goldfields, Inc.
[{"type":"text","content":"TORONTO, June 04, 2019 (GLOBE NEWSWIRE) -- G2 Goldfields Inc. (TSXV: GTWO) (the “Company”) is pleased to provide an exploration update on the Company’s ongoing drill program at the Sandy Lake project, North-West Ontario. To date, the Company has completed an additional three diamond drill holes on the W1 and W2 target areas. These holes were designed to further explore high grade results obtained in previously released holes 19-04 and 19-06 which returned core length intervals of 34.5 g/t Au over 8 meters and 10.92 g/t Au over 10.33 meters respectively (see Company press release dated 13 May, 2019 - available at www.sedar.com). After additional drilling in W1 and W2 zones, the drill will be moved approximately 1.6 kilometers north-west to explore the W3 and W4 zones. The primary target of interest is a 60 km long banded iron formation (BIF) belt which runs east–west across the Company’s holdings. Historical and limited trench sampling of this BIF was conducted by previous operators prior to the implementation of NI 43-101. In the immediate vicinity of the W3 and W4 zones, gold values reported in trenches of 1.63 oz Au/ton over 10 feet and 0.38 oz Au/ton over 5 feet. (available at OGS Assessment File 2.2944 / 23 November 1983 see OGS link)*. The Company has relocated and sampled the historical trenching. Results are pending. Patrick Sheridan, CEO comments, “We are very excited to drill this large regional BIF, which is one of our major targets for 2019. Our geological models are based on the Goldcorp-Newmont Musslewhite Mine, located approximately 180 km to the southeast, which also lies within a BIF. Encouraging results in this drilling program will open up the possibility of economic mineralization in this major regional structure.” About the Sandy Lake Project The Sandy Lake Gold Project comprises an approximate 51,000 hectares of contiguous mineral claim units in the underexplored Sandy Lake Archean Greenstone Belt in Northwestern Ontario. G2 Goldfields Inc. has the right to earn up to 70% interest in the W series of claims (6,000 hectares) and a 100% interest in mineral claims surrounding the W Group totaling 45,000 hectares. Sandy Lake is located approximately 225 km north of the historical Red Lake, Ontario mining district (30 million ounces Au produced). G2 Goldfields Inc. wishes to thank t...