-- G2 Goldfields (GTWO.TO), which is being acquired by G Mining Ventures (GMIN.TO), says drilling at its Oko project in Guyana has extended gold mineralization to depths of 1 kilometre (km), the company said on Monday.
Drilling has also extended high-grade shoots down plunge at the Ghanie deposit. The deepest hole drilled so far has returned 84.5m @ 3.0 grams per tonne (g/t) gold from 915m, a statement said. Mineralization has been extended by 140m vertically to 1km, where it remains open.
Drilling has also extended gold mineralization south of the existing Ghanie resource along the Border Zone, with a high-grade interval of 3.0m @ 10.8 g/t gold from 490m, building on strong prior results in this area.
Eight drill rigs are actively focused on infill, expansion and discovery drilling, with infill holes returning high-grade intercepts, including 20.8m @ 9.6 g/t gold, including 4.4m @ 36.1 g/t gold.
The arrangement with G2 Mining is expected to close in June.
G2 Goldfield shares closed down $0.04, to $10.35 on Friday, on the Toronto Stock Exchange.