High Grade Drill Intercepts At The Aremu Project

TORONTO - G2 Goldfields Inc. reported further high-grade drill intercepts from the Oko-Aremu Project, Guyana. The 19,200-acre project hosts multiple shafts, pits and zones of mineralization including the historic past producing Aremu Mine. G2 has identified multiple areas of anomalous mineralization over 15 kilometers trending south-east from the Aremu Mine, with the Oko Deformation Zone (ODZ) lying at the south-east end of the trend.  Since November 2019, the Company has completed a total of 46 holes (9,350 meters) in the ODZ establishing an initial one-kilometer strike length of mineralization. All other drill targets at the Oko-Aremu District remain untested.

Diamond drill holes OKD 34 and 35 were drilled to expand the strike length of the main ODZ zone, with the holes collared 125 m  (OKD-34) and 225 m (OKD-35) north of previously reported OKD-28 (6.9 m @ 5.1 g/t Au & 2.2 m @ 30.8 g/t Au). Both holes intercepted multiple zones of mineralization with visible gold (V.G.).

True horizontal widths of mineralization on each hole vary between 58% and 85% of reported core lengths. Holes OKD-34 and 35 confirm that the main gold zone at the ODZ remain strongly mineralized and open to the north and at depth. Additionally, a new, near surface, structure has been discovered in hole OKD-35, where drilling intercepted 25 m grading 2.2 g/t Au, from 16.5 meters downhole.

Dan Noone, CEO said, “We continue to be delighted with the predictability, continuity and grade of the Main Zone within the ODZ, which we have now intersected in drilling over a strike of 720 m. Also, the broad zone of near surface mineralization in OKD-35, once again displays the potential for the development of parallel zones of significant mineralization on either side of the Main Zone. Further drilling to the north and south, following the trend defined by surface geochemistry, should allow us to continue to expand the current limits of the mineralization as defined by drilling to date. As G2 continues to refine the geological model of the 15 km long Oko-Aremu District, we are coming to terms with the scale of the system we are exploring. Much work lies ahead to realize the full potential of this emerging high-grade gold district. The addition of a second drill rig and the expansion of our geological team, allows us to double our efforts expanding the known mineralization at the ODZ and hasten the exploration of numerous gold occurrences throughout the district.”

G2 Goldfields confirms that two rigs are currently drilling 24/7 on the ODZ.  One rig is committed to exploring the ODZ at depth whilst the second is focused on expanding the strike length of mineralization. Drill core is logged and sampled in a secure core storage facility located on the Oko project site, Guyana. Core samples from the program are cut in half, using a diamond cutting saw, and are sent to MSALABS Guyana, in Georgetown, Guyana, which is an accredited mineral analysis laboratory, for analysis. Samples from sections of core with obvious gold mineralization are analyzed for total gold using an industry standard 500g metallic screen fire assay (MSALABS method MSC 550). All other samples are analyzed for gold using standard Fire Assay-AA with atomic absorption finish (MSALABS method; FAS-121). Samples returning over 10.0 g/t gold are analyzed utilizing standard fire assay gravimetric methods (MSALABS method; FAS-425). Certified gold reference standards, blanks and field duplicates are routinely inserted into the sample stream, as part of G2 Goldfield’s quality control/quality assurance program (QAQC).