Drill Planning & Resource Update
The infill drill program started in
The drill program was expanded in November after the discovery of Twin Hills West and again in December to include the deeper portions of the plunging shoots at Bulge and Clouds East as well as the shallow, up-dip portions of Bulge, THC and Clouds. This additional drilling delayed the completion of the resource drilling, which is now scheduled to be completed by
Mineralization and geological modelling is currently underway and final assay results should be received by the end of
Polygons for the preliminary mine layout have been included for scale and context, although the exact positions may change slightly once the condemnation drilling and other studies have been concluded.
Description of Latest Clouds Results
The mineralization at Clouds lies along a north easterly striking structure hosting the high-grade shoot that has produced consistently wide intercepts from surface. Recent drilling at Clouds has focused on chasing this mineralization down plunge to try and deepen the pit in this area.
The latest two results from the deep drilling at Clouds are OKD322 - 49m @ 1.50g/t incl. 43m @ 1.66g/t and OKD332 - 84m @ 1.08g/t incl. 14m @ 1.99g/t and 16m @ 1.37g/t. These two holes take the mineralization down to approximately 300m vertically below surface and open to depth.
The
The mineralized syncline illustrated in blue in the section above is based on the previous resource update. Recent drilling results downdip clearly illustrate that the mineralized unit is much larger than previously thought and becomes more focused with depth.
The geological models and mineralization envelopes will all be revised for the next resource update to reflect the expanded envelope.
About
Osino is a Canadian gold exploration and development company focused on the development of our Twin Hills gold discovery in central
Osino has a large ground position of approximately 6,700km2 located within
Our core projects are favorably located north and north-west of
Osino continues to evaluate new ground with a view to expanding our Namibian portfolio.
Contact:
Tel: +1 (604) 785 0850
Email: jbecker@osinoresources.com
Cautionary Statement Regarding Forward-Looking Information
This press release contains 'forward-looking information' within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, statements regarding the use of proceeds from the Company's recently completed financings, and the future plans or prospects of the Company, including prospects for economic recoverability of mineral resources. Generally, forward-looking information can be identified by the use of forward-looking terminology such as 'plans', 'expects' or 'does not expect', 'is expected', 'budget', 'scheduled', 'estimates', 'forecasts', 'intends', 'anticipates' or 'does not anticipate', or 'believes', or variations of such words and phrases or state that certain actions, events or results 'may', 'could', 'would', 'might' or 'will be taken', 'occur' or 'be achieved'. Forward-looking statements are necessarily based upon a number of assumptions that, while considered reasonable by management, are inherently subject to business, market and economic risks, uncertainties and contingencies that may cause actual results, performance or achievements to be materially different from those expressed or implied by forward-looking statements. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Other factors which could materially affect such forward-looking information are described in the risk factors in the Company's most recent annual management's discussion and analysis which is available on SEDAR at www.sedar.com. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
The reader is cautioned that any reference to mineral resources or geological technical information about Osino's mineral properties is based on, excerpted from and expressly qualified by Osino's current technical report (the 'Technical Report') which was prepared in accordance with NI 43-101 entitled, 'Twin Hills Gold Project,
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