Gold Project Intersected New Surface Zone Of Broad Disseminated Gold Mineralization

TORONTO - G2 Goldfields Inc. reported that drilling at its 19,200-acre OKO gold project has intersected a new surface zone of broad disseminated gold mineralization. In addition, mechanical trenching over 500m 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. A compilation of the historical holes is available here.

These initial four holes define a zone of interest open to both the north and the south with a strike length of 400m. The intercept of 50m @ 1.71 g/t Au in GDD-04 is hosted by a high-strain zone within a magnetite rich metamorphic host rock. Multiple centimeter-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 500m north of hole GDD-04. These trenches have exposed extensive auriferous stockwork zones of 49 m 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. Some of the samples have provided over 200 gold “eyes” as well as the discovery of coarse gold particulate.

Dan Noone, CEO, said, “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-focussed program for our investors. G2 continues to explore this area with two drills and two excavators committed to the program.”