- In-fill surface calcrete sampling at Twin Hills Gold Prospect returns high grade gold assays up to 300ppb coincident with magnetic anomalies and confirmed by bedrock drilling
- New assays define a coherent, high grade gold target over 3km in length and up to 300m in width at the centre of the 11km Twin Hills Prospect
- Drilling on the Twin Hills Central target will commence in Q2 2019
- Classic structural setting for orogenic gold, with mineralization along splays on a bend in a crustal-scale structure
- Sampling of calcrete under sand cover along the Karibib Fault indicates further gold targets south west of Twin Hills towards the producing Navachab Gold Mine
VANCOUVER, British Columbia, April 23, 2019 (GLOBE NEWSWIRE) -- Osino Resources Corp. (TSXV: OSI)(FSE: RSR1) ("Osino” or “the Company”), is pleased to announce positive results of in-fill calcrete sampling at the Company’s flagship Twin Hills Gold Prospect (“Twin Hills”) and further positive results of Rotary Air Blast (RAB) calcrete sampling under sand cover along the Karibib Fault to the south west of Twin Hills.
Figure 1: http://www.globenewswire.com/NewsRoom/AttachmentNg/d2fce384-b547-4b8a-9e2f-183effac7911
Twin Hills Central In-Fill Sampling
The Twin Hills in-fill calcrete sampling program has resulted in the definition of a large scale, well defined, high tenor, drill-ready gold target, the Twin Hills Central target (“Twin Hills Central”). Twin Hills Central is 3,000m along strike and 300m wide and forms part of the overall 11km Twin Hills gold anomaly.
Twin Hills Central also coincides with a magnetic bedrock anomaly due to the presence of pyrrhotite, a magnetic sulphide which is associated with the gold mineralization (see Figure 1 above). The target is open-ended and similar magnetic anomalies are present along the entire 11km strike length of the Twin Hills calcrete anomaly.
Twin Hills Central is further supported and upgraded by bedrock sampling carried out in December 2018 (refer to press release dated January 17, 2019) when bedrock assays of up to 2.3g/t were returned from hard rock underneath thick calcrete cover, directly below the surface anomaly (insert in Figure 1 above).
Calcrete Sampling Under Sand Cover Along Karibib Fault, South West of Twin Hills Prospect
During 2018, Osino made a strategic decision to test sample the continuation of the Karibib Fault towards the south west, with the aim of discovering and defining further gold targets along the Karibib Gold Trend before committing to a RC/DD drill program on any particular prospect.
This program made use of a RAB drill rig to sample the top of the calcrete layer to the south west of Twin Hills, where it is covered by wind-blown sand up to 3m in depth. Fence lines were dilled at 800m line spacing during Q4 2018 (refer to press release dated December 5, 2018) and all the assay results have now been received and interpreted. In addition, surface calcrete samples were collected along the contact between schist and marble to the south and south west of Twin Hills.
These programs produced four new gold anomalies which will be ground checked and followed up with bedrock sampling starting Q2 2019 (see Figure 2 below):
- Quarry – Gold anomaly in marble over 1,200m in length
- Main Road – Gold anomaly in marble over 2,000m in length
- Karibib Jog – Gold anomaly in calcrete over schists, near jog on Karibib Fault
- West End – Gold anomaly in calcrete over schists, just to north of Navachab mining licence
The Main Road anomaly is particularly exciting as it coincides with a zone of intense brecciation associated with a set of north-south structures displacing the Karibib Fault and continuing for several kilometers northwards into the schists. The West End anomalies look like they continue to the north and further sampling will be carried out in that direction.
Heye Daun, Osino’s CEO commented: “We have now defined a high priority drill target under cover at Twin Hills Central and are looking forward to getting the drill rigs on site. We will also be developing the new targets along the Karibib Fault with an aggressive follow-up program starting later this month.”
Acquisition of Ground Magnetic Data Along Karibib Fault
Ground magnetic data has now been collected on a grid of 50m spaced lines from Twin Hills to the Navachab Gold Mine property (see Figure 2). This data provides lithological and structural detail in an area that is completely covered by calcrete and sand and allows prioritization of coincident prospective structures and surface geochemical anomalies.
Figure 2: http://www.globenewswire.com/NewsRoom/AttachmentNg/cb9e8501-31c2-46c3-ac5f-644fe1af6207
With the recent acquisition of the 55,000ha Kranzberg license, Osino has significantly increased the area under control further to the south west (refer to news release dated February 21, 2019). Osino is now in a position to extend exploration activities along this emerging gold trend and sampling in this area has already commenced.
Quality Assurance
All Osino sample assay results have been independently monitored through a quality assurance / quality control ("QA/QC") program including the insertion of blind standards, blanks and field duplicate samples. QA/QC samples make up 10% of all samples submitted. Calcrete and sand (anthill) samples are prepared at Intertek, Johannesburg, South Africa. Samples are dried, crushed to ~10mm and pulverised (300g up to 1.2kg). A split of 120g is shipped to the Intertek Analysis laboratory in Perth, Australia. Samples (10g) are leached in cyanide for 24 hours and analyzed for gold using ICP-MS with an ultra-low detection limit of 0.01ppb. Additional elements analyzed are Ag, Cu and As.
Qualified Person
David Underwood, a Chartered Professional Geologist (SACNASP) and a Qualified Person for the purposes of National Instrument 43-101 Standards of Disclosure for Mineral Projects for the Karibib Gold Project, has reviewed, verified and approved the contents of this news release.
About Osino Resources
Osino Resources Corp. (TSXV: OSI) is a Canadian company, focused on the acquisition and development of gold projects in Namibia. Osino’s Namibian interests comprise 22 exclusive prospecting licenses located within the central and northern zones of Namibia’s prospective Damara belt, mostly in proximity to and along strike of the producing Navachab and Otjikoto Gold Mines. Osino is currently focusing its efforts on developing the Karibib Gold Project and defining new exploration targets in the Otjikoto East area and on our other licenses. The Karibib Gold Project is located approximately 130 km north-west of Namibia’s capital city Windhoek. By virtue of its location, the projects benefit significantly from Namibia’s well-established infrastructure with paved highways, railway, power and water in close proximity. Namibia is mining-friendly and lauded as one of the continent’s most politically and socially stable jurisdictions. Osino continues to evaluate new ground with a view to expanding its Namibian portfolio.
Further details are available on the Company's website at https://osinoresources.com/
CONTACT INFORMATION
Osino Resources Corp.
Heye Daun: CEO
Tel: +27 (21) 418 2525
hdaun@osinoresources.com
Julia Becker: Investor Relations Manager
Tel: +1 (604) 785 0850
jbecker@osinoresources.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.