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Osino Resources

Osino Resources reveals drilling at Goldkuppe project extends mineralization by 2km to the southwest

The property lies 20km to the northeast of Osino's flagship Twin Hills gold project

Mine workers
Osino is a mining group focused on Namibia

Osino Resources Corp (CVE:OSI)(OTCMRKTS:OSIIF) has posted positive assay results from 2018 drilling at its Goldkuppe project, which has extended the gold mineralization there.

The property lies 20km to the northeast of Osino's flagship Twin Hills gold project and the results extend the Goldkuppe mineralization by 2km to the southwest, adding scale, the firm said.

READ THE DEEP DIVE: Osino Resources on the hunt to find Namibia’s next gold mine

They also prove that the gold mineralization extends into the banded marble which forms the footwall to the dolomitic marble.

Osino sank 14 holes during November and December last year for a total of 2,550m (meters) at the Oasis and Wedge targets to the south of Goldkuppe.

Wide zones of gold mineralization were hit in several holes at Oasis, with best intercepts of 77m (meters) at 0.4g/t (grams per ton) gold, 37m at 0.5g/t (grams per ton) and 37m at 0.4g/t.

Notably, the style of gold mineralization is typical of the multi-million ounce Navachab Gold Deposit 30km to the southwest.

Last year's drilling was a step-out program from initial scout drilling conducted during December 2017, which returned best gold assays of 49m at 0.7g/t (grams per ton) at Oasis and 10m at 2.0g/t at Wedge.

The assay results were somewhat delayed as a result of a potential coarse gold issue, requiring re-assaying and confirmation with screen fire assay.

Future drill plans

An updated structural interpretation of the ground and airborne magnetics along with satellite imagery was carried out in January this year and Osino says future drilling will focus on the north-south structures.

This will include deeper drilling under Goldkuppe Hill as well as the area between Oasis and Goldkuppe Hill.

For the rest of 2019, Osino told investors it will focus on advancing Twin Hills and the Karibib Fault trend to the south west of Twin Hills.

The company has planned  a drill program at Twin Hills and on-going calcrete and bedrock sampling along the rest of the trend. Osino will also continue to advance the Otjikoto East targets and initiate the Otjiwarongo regional, generative exploration program.

Osino’s Namibian interests consist of 22 exclusive prospecting licenses within the central and northern zones of the country's prospective Damara belt, mostly close to and along strike of the producing Navachab and Otjikoto gold mines.

Shares in Toronto eased 3.8% to $0.35.

Contact Giles at [email protected]

Follow him on Twitter@Gile74

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Price: $0.48

Market: TSX-V
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