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Osino Resources receives TSX Venture Exchange approval to acquire Namibian licenses

The Vancouver-based company is consolidating land adjacent to the producing Navachab gold mine in Africa

field in Namibia
The new land packages comprise of 655 square kilometres of land adjacent to a gold mine in Namibia (pictured here)

Osino Resources Corp (CVE:OSI)(OTCMRKTS:OSIIF) received final TSX Venture Exchange approval to acquire exclusive prospecting licences in Namibia.

The gold-focused junior is consolidating ground at its Karibib exploration project on the African continent, which consists of six licences covering a total of 955 square kilometres. The licences include more than 50 kilometres of prospective strike extension of the producing Navachab gold mine, one of two in the country.

Shares of Osino jumped 5.6% to $0.38 on Monday in Canadian trading, and remained flat at $0.32 on the OTC in the US.

READ: Osino Resources consolidates position in Namibia with license acquisitions 

The two licences were acquired from Namibian citizens on an arm’s length basis, with no additional finder’s fees required.

The new land packages comprise of 696 square kilometres of prospective ground adjacent to the Navachab mine and along the company’s Karibib gold trend.

Recent work on the Karibib trend revealed a maximum gold assay value of 2.3 grams per ton on the Twin Hills prospect. A further seven bedrock samples had values between 0.3 g/t and 1.1 g/t gold.

Osino is currently focused on developing the Karibib project and defining new exploration targets along its 6,000 sqaure kilometre land package in Namibia.

--Contact Angela Harmantas at angela@proactiveinvestors.com

--Follow her on Twitter @AHarmantas

Quick facts: Osino Resources

Price: 1.25 CAD

Market: TSX-V
Market Cap: $129.74 m

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