| Announcement Date: | 2021-11-30 |
|---|---|
| Announcement Type: | Exploration Update |
| Announcement Code: | NI43-101 |
| Company name: | O2Gold Inc. |
| Project name: | Aurora |
| Location: | Guyana |
| Commodities: | Gold |
| Highlight: | All holes drilled to date have crossed a continuous mineralized zone |
| Resources: | only available to subscribers |
| CP/QP: | only available to subscribers |
| Announcement summary: | Toronto, Ontario – November 30, 2021 (GlobeNewswire) – O2Gold Inc. (“O2Gold” or the “Company”) (TSXV: OTGO) is pleased to provide an update on its ongoing drill campaign at the Aurora target. Drilling within the Aurora mine title aims to define the extension and depth of the goldmineralized quartz vein, which was prospected for artisanal mining years ago, to support a 50 tonnes per day production plan in the first stage implementation. The Company has secured all the necessary licenses to operate at this level of production and the mine plan can be scaled as the mineralization allows. As shown in the map in Figure 1, at least two drill holes were, or are expected to be, carried out per section in 50-meter intervals, aiming to reach the mineralized vein at two levels. The results are anticipated to inform a production plan so as to forecast the rock tonnage per day. The sections in Figure 2 show the mineralized quartz vein with values of Au and Ag obtained (g/t). The table details each interval that crosses the mineralized quartz vein. |
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