Osino Resources drills 2.3 g/t gold over 109 metres at Ondundu, Namibia

Osino Resources Corp. [OSI-TSXV; OSIIF-OTCQX; RSR1-FSE] provided an update on the recently completed infill and scissor hole drill programs at the 100%-owned Ondundu Gold Project in Namibia, including the best intercepts recorded in the company’s history.

Highlights:  The drilling campaign identified previously unknown extensional veins. New zones of mineralization were intersected east of the resource, in an area never previously drilled.

Assays received from eight of the 15 RC infill holes at Ondundu including drill hole ONRC23-017 that returned 109 metres of 2.30 g/t gold (68-177m), 5 metres of 7.81 g/t gold (50-55m) and 3 metres of 7.49 g/t gold (15-18m).

ONRC23-018 returned 93 metres of 1.24 g/t (102-195m) and 13 metres of 3.54g/t (42-55m). ONRC22-008 returned 70 metres of 1.24 g/t (112-182m), including 2 metres of 7.54 g/t and 20 metres of 1.61 g/t.

ONRC22-007 returned  55 metres of 1.45 g/t (130-185m), including 25 metres of 1.65 g/t. ONRC23-013 returned 65 metres of 0.93 g/t (53-118m), including 13 metres of 1.59 g/t.

A total of 3,148 metres of drilling was completed in 15 holes since maiden mineral resource estimate (MRE), aimed at infill and upgrading previous drilling as well as drilling and assay method optimization. Scissor holes at Razorback and Margarethental intersect previously unknown mineralization to the east of current resource indicating significant upside potential. Assay results of seven holes still to be reported, are xpected by the end of April.

Dave Underwood, VP Exploration commented: “The infill drilling program at Ondundu is producing exciting results which complement and expand on previous drilling at Razorback by B2Gold in 2016. The wide intercepts at good grades confirm the robust nature at Razorback with hole ONRC23-017 [109m @ 2.30g/t] being the best intercept Osino has had anywhere in Namibia.

“Two scissor holes were drilled westwards to check for extensional veins at right angles to the resource drilling. Not only did these holes confirm the presence of previously unknown extensional veins, but also intersected new zones of mineralization to the east of the resource in an area never previously drilled due to difficult access. This new eastern zone will be drilled out when the resource upgrade drilling gets underway.”

Ondundu is a sedimentary hosted, structurally controlled orogenic gold deposit located 130km to the north-west of Osino’s flagship Twin Hills Gold Project. The Project has a long history of mining and exploration, most recently by B2Gold which drilled 122 DD and RC holes during the period 2016 until 2021.

Osino completed the acquisition of Ondundu from B2Gold on July 21, 2022 and on October 27, 2022 announced a maiden mineral resource estimate (MRE) for Ondundu comprising 26 million tonnes (Mt) at an average grade of 1.13 g/t gold for a total of 0.9 million ounces (Moz) of gold in the Inferred mineral resource category (0.5 g/t cut-off).

Since its grassroots discovery by Osino in August 2019 the company 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. The PFS describes a technically simple and economically robust open-pit gold operation with a 13-year mine life and average annual gold production of over 169koz per annum.