G2 Announces 10,000 Metre Drill Program

G2 Announces 10,000 Metre Drill Program

TORONTO, Feb. 09, 2021 (GLOBE NEWSWIRE) — G2 Goldfields Inc. (“G2” or the “Company”) (TSXV:GTWO; OTCQX:GUYGF) is pleased to provide an update on its ongoing exploration campaign in Guyana, South America. The Company has a 100% interest in two historical past-producing gold mines as well as a portfolio of regional exploration properties. During the first half of 2021, drilling will focus on expanding and further delineating historical drill results, as well as to initiate the maiden drilling campaign at the Jubilee Mine project.Aremu Mine Drilling (Q1, 2021)2021 drilling will continue to explore the main shaft area where drill hole ARD – 3 returned multiple gold intercepts including 3.6 g/t Au over 13.5 metres within a broad zone of mineralization (see Press Release dated November 17, 2020). This relatively shallow intercept is within the area of historical production (6,488 ounces from 14,632 tons of ore in the 1910 – 1911 period) (Micon 43-101 Nov 23, 2018).Jubilee Mine Drilling (Q1, 2021)The Jubilee Property is located approximately 4 miles south-east of the Company’s Peters Mine property. Historical records indicate that in 1907 a vertical shaft and approximately 1000 feet of lateral workings were completed on the property; however, no production records are available. Reconnaissance sampling on the property has returned significant grab sample results from an area over about 100m in strike length in the historical mine zone. Results of sampling are presented in Table 1. G2 plans to conduct a maiden drill program at Jubilee focusing on the high-grade mineralization sampled to date.TABLE 1Coordinate Reference System: UTM PSAD56Peters Mine (Q1-Q2, 2021)The Peters Mine was discovered in 1903 and between 1905 and 1910, produced 41,915 ounces of gold with mill head grades in excess of one ounce per ton (Bishopp, D. W. 1937, Geological Survey of British Guiana). The property was subject to a modest drill campaigning by Guyana Goldfields in 1996 – 1998) and WSR Mining in 2007. Drilling has established significant mineralization to depths of 200m and the current drill program will test this mineralization to depths of 500 m. Additionally, numerous historical drill results to the south of the main workings will be targeted, specifically the “Herold’s Hill” and “Incline Shaft” areas.Oko Main Zone (Q2-Q3, 2021)To date, the Company has completed 63 holes totalling 13,971 metres. Limited drilling has established significant gold mineralization over 900 metres of strike length. A longitudinal section of the main Oko zone is located below as Figure 1, or at the following link https://g2goldfields.com/wp-content/uploads/2021/02/LongSection_Figure01.pdf.A Media Snippet accompanying this announcement is available by clicking on the image or link below:
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