Osino Resources drills 0.92 g/t gold over 77 metres at Twin Hills, Namibia

Osino Resources Corp. [OSI-TSXV; OSIIF-OTCQX; RSR1-FSE] provided an update on the recently completed infill and step-out drill program at the Twin Hills gold project, Namibia. Twin Hills includes five distinct zones of mineralization, including Bulge, THC, THW, Clouds and Clouds West.

Highlights included 14,428 metres of drilling completed since prior mineral resource estimate (MRE) update, aiming at resource growth and conversion from inferred to indicated.

The latest drill assay highlights include Twin Hills Central (THC) (step-out and infill). OKD485 returned 66 metres of 1.02 g/t (420-486m), including 20 metres of 1.11 g/t gold, including 17 metres of 1.83 g/t gold. OKD479 returned 56 metres of 0.88 g/t (275-331m), including 16 metres of 1.73 g/t gold. OKD471 returned 11 metres of 4.72 g/t (259-270m) and 33 metres of 0.70 g/t (310-343m), including 19 metres of 1.01 g/t gold

Twin Hills West (THW) (step-out and Infill): OKD480 returned 74 metres of 0.63 g/t gold (183-257m), including 17 metres of 1.05 g/t good. OKD482 returned 38 metres of  0.76 g/t (92-130m), including 19 metres of 1.16 g/t gold. OKD475 returned 24 metres of 1.06 g/t (217-241m), including 6 metres of 1.68 g/t, including 10 metres of 1.48 g/t gold. OKR566 returned 12 metres of 3.09 g/t (105-117m)  and 3 metres of 1.06 g/t gold (134-137m).

Clouds (step-out): OKD486 returned 77 metres of 0.92 g/t gold (327-404m), including 26 metres of 1.44 g/t gold. OKD481 returned 34 metres of 1.17 g/t (191-225m), including 19 metres of 1.78 g/t gold. OKD477 returned 22 metres of 1.18 g/t (216-238m), including 10 metres of 1.94 g/t gold. OKD473 returned 24 metres of 0.88 g/t gold (227-251m).

Clouds West (step-out and infill): OKD062 returned 10 metres of 0.90 g/t (157-167m), and 20 metres of 1.64 g/t gold (259-279m) (200m step-out). OKR577 returned 24 metres of 1.10 g/t (123-147m), including 17 metres of 1.43 g/t gold. OKR578 returned 16 metres of 0.88 g/t (18-34m), including 6 metres of 1.60 g/t gold.

Step-out drilling at both THC and Clouds confirms that mineralization is present down plunge and tends to coalesce into a single wide shoot at depth providing scope to deepen the pits.

Assay results of 5,470 metres still to be reported; these results will be incorporated into an updated MRE which will form the basis for the mid-2023 definitive feasibility study (DFS).

Dave Underwood, vice-president, exploration, commented: “The drilling completed over the last few months has focused on the low-hanging fruit, namely growing the indicated resources, particularly at THW and Clouds West through infill drilling, with the aim of adding reserve ounces to the upcoming DFS, thereby helping to backfill the production profile. Very pleasingly, we have also been successful in extending the northeasterly plunging higher-grade shoots at THC, Clouds and Clouds West in particular, where we intercepted the main shoot over 20 metres at 1.64 g/t in a step-out hole more than 200 metres outside of the MRE envelope, demonstrating the potential for significant resource growth down dip below the previously modelled pit shells. We are currently concluding the resource drilling of this phase of the program, before moving over to brownfields exploration at OJW and Rheinsheim.”

A total of 14,428 metres of drilling from 74 holes, 9,493 metres of diamond core (DD) and 4,935 metres of reverse circulation (RC) drilling has been completed since the August 2022, MRE. A total of 5,470 metres of assay results are still pending.

This drilling has mainly focused on infill and step-out drilling on the main deposits of Twin Hills (THC, THW, Clouds and Clouds West) to convert as much of the inferred resource to indicated as possible.

Twin Hills’ most recent technical study is a pre-feasibility study (PFS) dated effective September 6, 2022. It outlines a 13-year open-pit mine life with an average annual gold production of 169koz per annum at all-in sustaining costs of US$930/oz in the first 10 years of operation. The PFS outlined 2.15 Moz in reserves (average gold grade of 1.04 g/t with a cut-off of 0.3 g/t) and was based on a resource estimate released in August 2022 with measured and indicated mineral resources of 81.3 Mt at 1.08 g/t gold for a total of 2.83 Moz and an inferred mineral resources of 7.2 Mt at 1.05 g/t gold for a total of 0.24 Moz.

Osino is a Canadian gold exploration and development company focused on the fast-tracked development of the wholly owned, Twin Hills Gold Project in central Namibia. Since its grassroots discovery by Osino in August 2019 Osino has completed more than 225,000 metres of drilling and has completed a suite of specialist technical studies culminating in the recently published Twin Hills PFS.