Gold stock

New ground geophysical results extend projected Aurora-Quintanillo vein mineralization for nearly 4 km along strike

Toronto, Ontario – August 31, 2021 (Investorideas.com Newswire) O2Gold Inc. (“O2Gold” or the “Company”) (TSXV: OTGO) is pleased to announce the results of the geophysical survey at the brownfield site of Aparecida.

Highlights

  • The ground geophysical survey allowed the interpretation of a 650 x 500 meter area with anastomosed veins, which had already been identified in surface mapping but the extent of which was unknown.
  • At least four different vein directions have been identified, including the Fortaleza mine vein, where channel chips with values ​​of up to 42.3 g / t Au have been collected.

Methodology

The geoelectric survey methodology was chosen because it is known to successfully identify vein structures in the same geological setting. The methods are as follows:

  • Spontaneous potential (SP): measures the spontaneous polarization due to the electrochemical reactions existing at the interface of the vein of the host rock.
  • Electrical resistivity profile (ERP): measures lateral resistivity variations, trying to delineate the subvertical veins in contrast to the host rocks.
  • Vertical Electrical Sounding (VES): Measures the behavior of the resistivity distribution with depth, defining the thickness of weathered rock and adjusting the frequency used in electrical resistivity tomography.
  • Electrical resistivity tomography (ERT): measures lateral and vertical variations in contacts related to the venous system due to its low resistivity characteristics.

The grids used were perpendicular to the vein structures, with a variable spacing between 100 and 200 meters and with measurement points every 20 meters.

In Aparecida, due to cartography showing veins with different directions, a grid was used instead of lines perpendicular to the main structure.

Results

Previous exploration work reported in the Company’s Mining Project Disclosure Standards report (NI 43-101) recorded multiple artisanal mine entrances in different veins with different directions, showing a system of mineralization with an orthogonal pattern. .

The detailed mapping and sampling carried out by the O2Gold team helped identify some of these recordings (Figure 1A). Yet projections are difficult to trace due to the thick colluvial material covering the entire region.

Figure 1: Map of gold results in veins collected during mapping and their possible projections (A), and Map of potential spontaneous anomalies and associated vein projections (B).

Thus, a geophysical mesh of the ground was carried out to help in the interpretation of the structures. The interpretation of this work presented a pattern of “anastomosed” veins (Figure 1B), in an area of ​​650 x 500 meters, with two preferential directions EW and NS, but with other low resistive anomalies (in blue) in the area. directions orthogonal to them. main structures, including the vein that feeds production from the Fortaleza mine. At this mine, the O2Gold team sampled quartz vein chips in channels, obtaining gold values ​​of up to 42.3 g / t.

For the Aparecida target, 1,000 meters of reconnaissance drilling are planned to verify the extension, depth, thickness and gold grade of the vein network.

Quality assurance and quality control

All samples were shipped to the SGS laboratory in Medellin, Colombia, where they were prepared and analyzed. They were analyzed using the SGS FAA515 gold procedure (pyrotechnic test on a 50 gram sample with AAS finish) and AAS12C silver (multi-acid digestion with AAS finish). Above the limit, gold was determined by the SGS FAG505 procedure (using standard fire assay on a 50 gram sample with a gravimetric finish).

In accordance with QAQC best practices, approximately 10% of a batch of 78 samples are control samples (three Au-Ag standards: high / medium / low levels, two fine blanks, one project blank and two field duplicates) .

SGS is independent from O2Gold. The Company is not aware of any other factor likely to materially affect the accuracy or reliability of the data referred to in this document.

Qualified person

The scientific and technical information contained in this document has been reviewed and approved by Marcelo Albuquerque, MAIG, a “qualified person” as defined in 43-101

About O2Gold

O2Gold is a mining exploration company with operations in Colombia.

For more information, please contact:

Jaime Lalinde, President and CEO
Telephone: (57) 312 350 5864
Email: [email protected]

Caution regarding forward-looking information

This press release contains “forward-looking information” within the meaning of applicable Canadian securities laws. Forward-looking information includes, but is not limited to, statements regarding the election and appointment of directors, the two potential new vein structures in Aurora State and the exploration work and activities planned by the Company on its properties, in particular the geological mapping and sampling of the Aurora, Quintanillo and Aparecida sites. Generally, forward-looking information can be identified by the use of forward-looking terms such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “expected”. , “Estimates”, “anticipates”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of these words and expressions or declares that certain actions, events or results “Could”, “could”, “could”, “could” or “will be taken”, “occur” or “be reached”. Forward-looking information is subject to known and unknown risks, uncertainties and other factors which may cause the actual results, level of activity, performance or achievements of the Company, as the case may be, to be materially. different from those expressed or implied by this forward-looking information. Although the Company has attempted to identify important factors which could cause actual results to differ materially from those contained in forward-looking information, other factors may cause results not to be as anticipated, estimated or planned. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Therefore, readers should not place undue reliance on forward-looking information. The Company does not undertake to update forward-looking information, except in accordance with applicable securities laws.

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