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Osino Resources excited by exploration, which shows Karibib as growing gold trend in Namibia

The company said it had now completed a shallow drilling program to test a surface gold anomaly to the southwest of the firm's Twin Hills prospect

Workers pictured in Namibia
Osino has amassed a large amount of ground in Central Namibia

Osino Resources Corp (CVE:OSI) unveiled positive exploration results from Namibia, where it reckons the Karibib trend may be a district-scale gold play.

The company said it had now completed a shallow drilling program to test a surface gold anomaly to the southwest of the firm's Twin Hills prospect and extended the collection of samples along the Karibib fault between Twin Hills and the producing Navachab Gold mine owned by QKR Namibia.

WATCH: Osino Resources is well-funded and on the hunt for gold in Namibia

Osino said a re-interpretation of geochemical and structural data alongside initial results of the shallow drill program had resulted in a significant 3km extension of the Twin Hills gold anomaly from 8km announced earlier this year to 11km as at last month.

"We are excited to have further confirmation of the growing size of the Karibib gold trend with its continuation under cover to the southwest of Twin Hills," said Dave Underwood, Osino’s vice-president of exploration.

"The drill program just completed has given us some early but encouraging visual confirmation of our ability to see mineralization through thick cover.

"In addition, the shallow drilling on the remaining portion of the Karibib Gold trend should generate further targets which will be followed up early in 2019. The Karibib trend has the potential to become a district-scale gold play.”

Osino added that based on encouraging visual results received so far,  the company has started an in-fill shallow drilling exercise.

This program is expected to be completed at the end of 2019.

Osino is also planning a significant drill program for next year, aimed at further drill testing the Twin Hills prospect and any additional targets generated along the rest of the Karibib trend.

Twin Hills is a large-scale gold prospect, initially discovered by Osino from grassroots exploration during last year.

So far, the company has conducted soil, regolith and rock-chip sampling, geological mapping, and ground magnetics over Twin Hills but only 1km has been drill tested on the eastern extreme of the prospect.

Osino's Namibian interests comprise 20 exclusive exploration licenses within the central and northern zones of the prospective Damara belt, mostly near to and along strike of the producing Navachab and Otjikoto Gold Mines.

Osino is currently focusing its efforts on developing the Karibib gold project and defining new exploration targets in the Otjikoto East area and on its other licenses.


Contact Giles Gwinnett at giles@proactiveinvestors.com

Follow Giles on Twitter @Gile74

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Price: 1.43 CAD

Market: TSX-V
Market Cap: $145.13 m

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