logo-loader
viewOsino Resources

Osino Resources finds three new gold anomalies at Otjikoto East project

Otjikoto East, acquired in 2017, consists of three contiguous licenses covering a huge area of 1538 square kilometers (sq km)

A springbok
Osino is exploring for gold in Namibia

Osino Resources Corp (CVE:OSI), the Namibia-focused gold explorer, has reported encouraging news from its Otjikoto East project, where it has found three new anomalies.

Otjikoto East, acquired in 2017, consists of three contiguous licenses covering a huge area of 1538 square kilometers (sq km). Exploration there has included surface sampling and high-resolution magnetic and radiometric survey.

READ: Osino Resources consolidates position in Namibia with license acquisitions

Notably, it includes 120km of prospective strike length directly east and along strike from B2Gold Corp's producing Otjikoto Gold mine.

Osino is looking for Namibia's next gold mine and has amassed a lot of ground in Central Namibia - some 6,000 sq km.

Of the new anomalies, Fairview is particularly exciting, said Osino, as two gold-bearing veins have been uncovered within this sand covered area 30km east of the Otjikoto mine.

The following gold anomalies have been found at Otjikoto East

  • Fairview - A multipoint gold anomaly in sand adjacent to an interpreted dome structure. Subsequent pitting and rock chip sampling of limited quartz veins produced two positive assays of 1.16 and 0.90g/t (grams per ton) gold, along with anomalous silver and copper.
  • Omagonde - A low-level gold and silver anomaly within calcrete in the northwest corner of the farm.
  • Gaidaus - An east–west striking gold anomaly in calcrete, along an interpreted thrust fault between schists and marbles.
  • Omahona Fold – A large-scale, low-grade gold anomaly in soils along the folded contact between schists and marbles.
  • Waldorf South - Several gold anomalies in sand overlying marble layers within schist, adjacent to the major structure - the Otjohorongo Lineament.

Plans for 2019

Osino said plans for the next six to 12 months at Otjikoto East included follow-up sampling over anomalies to delineate Rotary Air Blast (RAB) drill targets in the first half of the year and testing of geochemical anomalies in the second half of 2019.

It plans to test bedrock anomalies using conventional reverse circulation (RC) and core drilling in the second half of this year and the first half of next.

Contact Giles at [email protected]

Follow him on Twitter @Gile74

Quick facts: Osino Resources

Price: 0.72 CAD

TSX-V:OSI
Market: TSX-V
Market Cap: $48.51 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Osino Resources named herein, including the promotion by the Company of Osino Resources in any Content on the Site, the Company receives from...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Full interview: Osino Resources is a strong company that is well financed...

Osino Resources (CVE: OSI) CEO Heye Daun sat down with Steve Darling from Proactive Vancouver to talk about their company as he heads off to a big mining conference in Colorado. Daun sharing details of their strong management team and investors. Daun also told Proactive about their projet...

on 9/9/19

RNS

Substantial contract win

3 weeks, 1 day ago

Half Year Report

3 weeks, 6 days ago

Notice of Results

on 10/9/19

Contract wins

on 7/8/19

Trading update

on 8/7/19

Result of AGM

on 13/6/19

2 min read