G2 Goldfields drills 1.1 g/t gold over 46.5 metres at NW Oko, Guyana

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G2 Goldfields Inc. [TSX-GTWO; OTCQX-GUYGF] provided an update on the company’s new discovery at NW Oko, part of the 27,719-acre Oko-Aremu gold project, Guyana. G2 recently announced an updated mineral resource estimate (MRE) for the project comprising 922,000 ounces of gold (indicated) and 1,099,000 ounces of gold (inferred).

The NW Oko discovery lies about 3.5 km from the current established gold resource at the Oko Main/Ghanie areas, opening up a new district for resource expansion. Geologically, NW Oko is very similar to the Oko Main/Ghanie zone, featuring long prominent shear structures that host mineralized quartz veins which are situated near the margins of carbonaceous sediments and volcanics.

To date at NW Oko, the company has completed 58 shallow diamond drill holes totalling 5,747 metres along a 2.5 km strike length.

The most advanced of the discoveries to date is the target 1 area where near-surface gold mineralization has been delineated over an 800-metre strike length. Multiple diamond drill holes have intersected disseminated gold mineralization over considerable widths as well as discrete, high-grade shoots, spaced along the length of the shear zone.

Drill hole NW)D-37 returned 7.0 metres of 8.5 g/t gold. NWOD-43 returned 7.8 metres of 4.4 g/t gold. NWOD-45 returned 46.5 metres of 1.1 g/t gold. NWOD-49 returned 23.0 metres of 1.1 g/t gold.

All of the intercepts, with the exception of NWOD-43 and the lower portion of NWOD-45, are in oxidized rock within 70 metres of surface.

Current diamond drilling is targeting the down-plunge continuity of multiple near-surface mineralized structures, as well as expanding the strike length of this discovery to the northwest and southeast, where it remains open.

Aside from the target 1 discovery, G2 will be continuing to explore other high-priority targets identified to date. Specifically, targets 2 and 3 require additional follow-up work as drilling has intersected encouraging mineralization, including 8 metres at 1.3 g/t gold (NWOD-48A) and 15 metres at 6.3 g/t gold (NWOD-22).

Patrick Sheridan, executive chairman, statesd: “The NW Oko discovery is the third discovery by Dan Noone, Boaz Wade and their team, illustrative of the considerable prospectivity within G2’s properties. This summer will be very busy for the company as we will be drilling with two rigs in NW Oko, three rigs in the Ghanie area as well as maiden drill programs at several new, previously unexplored, high-priority targets along the 17 km long Oko-Aremu trend.”

The G2 Goldfields team comprises 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.

Anglo Gold Ashanti, the fourth-largest gold producer in the world, recently made a substantial investment in the company. At the close of the subscription, AGA owned approximately 11.7% of G2’s issued and outstanding shares.

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