G2 Goldfields intersects 1.71 g/t gold over 50 metres at Oko, Guyana

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Drilling at G2 Goldfields Inc.’s [GTWO-TSXV; GUYGF-OTCQX] 19,200-acre Oko gold project in Guyana has intersected a new surface zone of broad disseminated gold mineralization. In addition, mechanical trenching over 500 metres to the north of this new drill intersection has exposed wide zones of stockwork style mineralization within similar host rocks, from which considerable amounts of free gold have been observed in pan concentrates.

These discoveries have the potential to add significant additional near surface gold resources to G2’s initial maiden resource estimate, announced April 25, 2022, for the OKO MAIN ZONE (OMZ). Significantly, these new discoveries are between the OMZ and Reunion Gold’s OKO West discovery, and are hosted within magnetite rich metamorphic host rocks, identical to the host rocks at Reunion’s Block 4 discovery.

Drilling and trenching targeted a newly defined 1.2-km long zone of anomalous gold in soils and saprolite. Previous drilling in 2020 & 2021, although encountering intriguing intercepts, appears to have missed most of the zones encountered in the current program. Generally, the previous holes were collared too far to the west, and thus drilled into the intrusion rather than the main shear.

In the current program, 12 diamond drill holes (totalling 1,356 metres) and two excavator trenches (totalling 495 metres) have been completed. Assays are currently available for the first four holes. Results include Hole GDD-01 that returned 12.50 metres of 0.91 g/t gold. GDD-02 returned 21.00 metres of 1.01 g/t gold. GDD-03 returned 3.00 metres of 1.74 g/t gold. GDD-04 returned 50.00 metres of 1.71 g/t gold, including 13.90 metres of 5.09 g/t gold.

These initial four holes define a zone of interest open to both the north and the south with a strike length of 400 metres. The intercept of 50 metres of 1.71 g/t gold in GDD-04 is hosted by a high-strain zone within a magnetite rich metamorphic host rock. Multiple centimetre-scale quartz carbonate veins, that occasionally have visible gold are complementary to the selective replacement of magnetite by pyrite along vein selvages and sometimes disseminated over broad zones within the host rock.

The style of mineralization within the magnetite rich host rock is identical to Reunion Gold’s Block 4 discovery which occurs within the same high-strain corridor another 1.2 km along strike from the intercept in GDD-04.

G2 has completed two trenches approximately 500 metres north of hole GDD-04. These trenches have exposed extensive auriferous stockwork zones of 49 metres in GTR1 and 36 m in GTR2.

Continuous channel samples from the trenches have been submitted for assaying. G2 also sampled additional material for panning and manual gold eye counts using a hand lens.

Dan Noone, CEO, stated, “This recent work has demonstrated the tremendous prospectivity of the ground between OMZ and Reunion. These latest discoveries are potential game changers for our company, and we look forward to executing an aggressive results-focused program for our investors.”

G2 continues to explore this area with two drills and two excavators committed to the program.

G2 recently announced its maiden mineral resource estimate on the newly discovered Oko property and has recently filed on SEDAR an independent technical report.

Highlights of the report include 974,000 oz. gold – Inferred Mineral Resource contained within 3,274,000 tonnes of 9.25 g/t gold; and 220,000 oz. gold – Indicated Mineral Resource contained within 793,000 tonnes of 8.63 g/t gold.

Significantly, all of the maiden mineral resources lie within 350 metres of surface and remain open down plunge. 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.

G2 currently has three drills operating and is awaiting assays on 32 holes.

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