G2 Goldfields drills 1.9 g/t gold over 43 metres at OKO Project and 51 metres of 1.2 g/t gold in new discovery zone, Guyana
G2 Goldfields Inc. [TSX: GTWO; OTCQX: GUYGF] reported additional diamond drilling results further expanding on the company’s new discovery at the OKO Project, Guyana.
Drilling has encountered wide intersections of near-surface, oxidized gold mineralization. Significantly, this new discovery lies only several miles away from the Company’s flagship gold resources at the Oko Main Zone and Ghanie (comprised of 1.5 million ounces of gold Indicated and 1.6 million ounces of gold Inferred, respectively) and thus, may have a significant impact on the scale and economics of a potential mining complex. G2 holds an expansive portfolio of highly prospective gold projects in Guyana.
The first eight holes of the new discovery (total meterage of 800) were announced by G2 in a press release dated March 18, 2025, and assay results from a further four holes (total meterage of 352.5) are reported here. All holes intercepted significant mineralization.
Highlights include Hole AMD 12 which returned 1.9 g/t gold over 43.7 metres, including a high-grade intercept of 7.9 g/t gold over 7.5 metres. Significantly, the entire gold intercept in Hole AMD 12 lies within highly oxidized near surface saprolite. Additionally, Hole AMD 10 returned 1.2 g/t gold over 51.0 metres.
The results demonstrate excellent continuity of gold mineralization along strike as well as down plunge from existing intercepts. Gold mineralization remains open in all directions with assays pending testing the zone further along strike.
Dan Noone, G2 CEO, stated, “It’s very early days for this discovery but based on the dozen or so holes we have seen so far, this discovery is quite exciting. In a little over a month of drilling, we have established over 400m of strike of near surface, oxidized gold mineralization. Additionally, we have confirmed very good down plunge continuity in the areas tested thus far. As a result, we are immediately adding an additional drill rig to this program and stand ready to provide additional drills as required.”
In March 2025, G2 announced an Updated Mineral Resource Estimate (MRE) for the Oko property. 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 at 4.60 g/t Au; 808,000 oz. Au – Indicated contained within 3,147,000 tonnes at 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 at 2.64 g/t Au; 663,400 oz. Au – Indicated contained within 10,288,000 tonnes at 2.01 g/t Au.
Total open pit Resource for the Oko NW Zone: 97,200 oz. Au – Inferred contained within 4,976,000 tonnes at 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 665 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] holds 35,948,965 shares representing 14.99% of the issued and outstanding shares of G2. G2 currently has cash holdings exceeding C$30 million (unaudited) and is well financed to execute on this regional exploration program.