G2 Goldfields intersects 7.3 g/t gold over 16.5 metres at Oko project, Guyana

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G2 Goldfields Inc. [GTWO-TSXV; GUYGF-OTCQX] reported further exploration results from the continuing exploration program at the company’s 19,200-acre Oko project, Guyana. Drilling and trenching have expanded the Ghanie zone to a strike length of 1 km as shallow drilling has consistently intercepted near-surface gold mineralization. Additionally, recent assay results from mechanical trenching in the northern end of the target area demonstrate the zone remains open to the north and follow-up drilling is currently continuing.

To date, G2 has completed 55 diamond drill holes totalling 7,867 metres at the Ghanie discovery. Assay results are currently available for holes 21 through 30. Highlights of the current round of results include Hole GDD-21 that returned 2.3 g/t gold over 44.5 metres (25.5 – 70m). This hole is a 33-metre step-out to the north of GDD-18 which intercepted 2.2 g/t gold over 25 metres.

Hole GDD-26 intercepted 4.1 g/t gold over 26.5 metres (84.5 – 111m). This hole targeted the down-dip extension 31 metres below hole GDD-19 (2.0 g/t over 28.6m).

Hole GDD-30 returned 7.3 g/t gold over 16.5 metres (105.5 – 125m). GDD-30 is one of the deepest holes drilled to date at Ghanie and demonstrates the down-plunge continuity of high grade intercepted in GDD-10 (5.1 g/t over 26.6m).

Significantly, all the mineralized intercepts lie within 100 metres of surface with all areas remaining open to depth, as well as to the north. Within the broader zone of near surface mineralization, several areas show potential for higher grade gold at depth.

Intervals in this press release have been calculated using a grade cut-off of 0.3 g/t Au and up to 1.5 metres maximum length of internal waste. Gold grades are uncapped. Mineralized intersection lengths are not necessarily true widths.

Additionally, trenching 170 metres north of the most northerly drill hole released to date (GDD-23) has exposed a mineralized shear zone in which continuous channel samples have returned 1.1 g/t gold over 50 metres, suggesting the possibility of further near surface gold mineralization.

The deeper high-grade intercepts at the Ghanie discovery as well as the trenching results to the north suggest there is considerable potential to expand the discovery to depth and along strike.

G2 currently has active exploration programs throughout the southern part of the 19,200-acre property and will be systematically drill testing several new areas over the coming months. This fully funded program will include Oko EAST as well as numerous high priority targets to the north of the Oko MAIN resource.

Boaz Wade, V.P. Exploration, stated, “The latest results confirm the existence of multiple high grade shoots within the broader, near surface gold zones. The Ghanie discovery is one of several geological targets which the company has identified for follow up diamond drilling.”

Dan Noone, CEO, commented, “G2 Gold remains very much a growth story, with the Ghanie discovery shaping up to become a potentially significant new resource for the Company. We also look forward to drilling new targets within the district in the coming months.”

G2 recently announced its maiden mineral resource estimate on the newly discovered Oko property in Guyana and recently filed on SEDAR an independent technical report entitled “NI 43-101 Technical Report and Mineral Resource Estimate for the Oko Gold property, Cooperative Republic of Guyana, South America” with an effective date of April 14, 2022.

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. G2 continues to expand this maiden resource while discovering additional areas for diamond drilling.

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