In Botella and Aparecida, O2Gold Intersects Veins With Max. Values of 36.6 g/t and 42.3 g/t Au; Announces New Logo

In Botella and Aparecida, O2Gold Intersects Veins With Max. Values of 36.6 g/t and 42

TORONTO, July 06, 2021 (GLOBE NEWSWIRE) — O2Gold Inc. (“O2Gold” or the “Company”) (TSXV: OTGO) is pleased to announce continued positive results of its brownfield exploration, as well as the launch of the Company’s new logo.

Key Highlights

  • Vein samples from the Botella-Esmeralda brownfield returned Au results with a maximum value of 36.6 g/t; values ranged from 0.005 g/t to 36.6 g/t, with an average grade of 5.4 g/t
  • Additional samples from the Aparecida brownfield showed Au values ranging from 0.005 g/t to 42.3 g/t, with an average grade of 2.05 g/t, with one vein returning a value of 42.3 g/t
  • The first 4,000m of the Company’s upcoming drill campaign is scheduled to begin next month

Aparecida

The most recent batch of samples from the Aparecida brownfield showed Au values ranging from 0.005 to 42.3 g/t, with an average grade of 2.05 g/t. These figures are based on a total of 55 samples plus five controls.

The results, mapped in Figure 1, reinforce the mineralization and grade results obtained to-date. Additionally, they indicate the potential for mineralized veins within the Fortaleza artisanal mine tunnel, where the exploration team sampled 1-meter-thick vein channels.

Figure 1: https://www.globenewswire.com/NewsRoom/AttachmentNg/8ba8eafd-1631-4eb5-a3a9-653eda26561e

The Company recently received permits for the 2,000m of planned drilling at Aparecida, expected to be completed this year. The drill targets and depths are to be determined using the recently completed ground geophysics campaign, the interpretation of which is expected in the coming weeks.

Botella

Sampling of the Botella-Esmeralda brownfield returned Au values ranging from 0.005 to 36.6 g/t, with an average grade of 5.4 g/t, shown in Figure 2. These figures are based on a total of 56 samples plus five controls. In addition to the surface samples, the exploration program also mapped and collected samples from artisanal tunnels.

Follow-up work, including mapping and defining the vein extension, is already underway. This work is scheduled to be followed by ground geophysics to assist in modeling and understanding the vein system.

Figure 2: https://www.globenewswire.com/NewsRoom/AttachmentNg/8b51e077-adf5-4e95-a5fc-f07192b6c126

Quality Assurance and Quality Control

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

In line with QAQC best practices, approximately 10% of a 78-sample batch are control samples (three Au-Ag standards: High/Medium/Low grades, two fine blanks, one project blank, and two field duplicates).

SGS is independent of O2Gold. The Company is not aware of any other factors that could materially affect the accuracy or reliability of the data referred to herein.

Qualified Person

The scientific and technical information contained herein has been reviewed and approved by Marcelo Albuquerque, MAIG, a consultant of the Company that is a “qualified person” as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

About O2Gold

O2Gold is a mineral exploration company with activities in Colombia.

For additional information, please contact:

Jaime Lalinde, President and CEO
Phone: (57) 312 350 5864
Email: jlalinde@fmresources.ca

Cautionary Notes

The content and grades of any mineral deposits at the Company’s properties are conceptual in nature. There has been insufficient exploration to define a mineral resource on any of the Company’s properties and it is uncertain if further exploration will result in a target being delineated as a mineral resource.

This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the Company’s planned work and exploration activities, particularly the Company’s planned drill campaign, including the time to completion, the interpretation of completed ground geophysics, and the ground physics to be conducted to model the vein systems at Botella. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that 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 such forward-looking information. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. 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. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN POLICIES OF THE TSX VENTURE EXCHANGE) HAS REVIEWED OR ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.  

 

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