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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 giles@proactiveinvestors.com

Follow him on Twitter @Gile74

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Market: TSX-V
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