logo-loader
viewOsino Resources

Osino Resources follows earlier gold discovery with further high grade intercepts at Twin Hill Central in Namibia

The new results add to the company’s confidence in the growing scale and grade of the Twin Hills discovery

gold mineralization
All holes received to date have intersected wide zones of gold mineralization that are open in all directions

Osino Resources Corp (CVE:OSI) hit high-grade gold at its Twin Hills Central project in Namibia, the exploration company announced Tuesday.

The announcement follows Osino’s recent discovery of a new gold zone at the company’s flagship project on the Karibib gold fault in the southern African country.

Shares of Osino rose 2.4% on Tuesday morning to C$0.85 in Toronto.

READ: Osino Resources makes new gold discovery at Twin Hills project in Namibia

Drill results from the fourth hole of a seven-hole program revealed an intercept of 65 metres at 1.4 grams per ton (g/t) gold, including 31 metres at 2.2 g/t gold.

The Vancouver-based company told investors that all holes received to date have intersected wide zones of gold mineralization that are open in all directions. All seven holes were drilled to a depth of 200 metres at a 60-degree incline along fence lines 400 metres apart.

Osino’s vice president of exploration Dave Underwood said that the intersection of the high-grade shoot so early in the drill program is “remarkable,” adding to the company’s confidence in the growing scale and grade of the Twin Hills discovery.

Sediment-hosted, orogenic gold deposits are often characterized by wide, lower grade gold haloes, with higher-grade shoots within them, according to Underwood.

“From the limited drill assays we have seen so far, Twin Hills Central appears to be fitting into this model,” Underwood said.

Further drilling

Osino is currently planning the next phase of its drill program to focus on infill and step-out drilling at Twin Hills Central, as well as fence lines over other prospects within the 11 kilometre gold system.

Twin Hills is Osino’s flagship exploration project and lies on the regional scale Karibib Fault, around 25 kilometres along strike from the producing Navachab gold mine. The company has secured a total length of 70 kilometres of the Karibib Fault Zone under exclusive exploration license.

The company expects results from the remaining three holes to be released by the end of September.

--Updated with share price--

Contact Angela at [email protected]

Follow her on Twitter @AHarmantas

Quick facts: Osino Resources

Price: 1.3 CAD

TSX-V:OSI
Market: TSX-V
Market Cap: $111.01 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

2 min read