NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S.TORONTO, May 26, 2020 (GLOBE NEWSWIRE) — G2 Goldfields Inc. (TSXV: GTWO) (the “Company” or “G2”) announces further high-grade drill intercepts from the Oko-Aremu Project, Guyana. The 19,200-acre project hosts multiple shafts, pits and zones of mineralization including the historic past producing Aremu Mine. G2 has identified multiple areas of anomalous mineralization over 15 kilometres trending south-east from the Aremu Mine, with the Oko Deformation Zone (ODZ) lying at the south-east end of the trend. Since November 2019, the Company has completed a total of 46 holes (9,350 metres) in the ODZ establishing an initial one-kilometre strike length of mineralization. All other drill targets at the Oko-Aremu District remain untested.
Diamond drill holes OKD 34 and 35 were drilled to expand the strike length of the main ODZ zone, with the holes collared 125 m (OKD-34) and 225 m (OKD-35) north of previously reported OKD-28 (6.9 m @ 5.1 g/t Au & 2.2 m @ 30.8 g/t Au). Both holes intercepted multiple zones of mineralization with visible gold (V.G.).Hole OKD – 341.3 g/t Au over 4.0 m (7 – 11)2.8 g/t Au over 5.7 m (136.9 – 142.6) V.G.8.1 g/t Au over 0.5 m (166.5 – 167) V.G.Hole OKD – 352.2 g/t Au over 25.0 m (16.5 – 41.5)10.6 g/t Au over 4.8 m (170.7 – 175.5) V.G.True horizontal widths of mineralization on each hole vary between 58% and 85% of reported core lengths.A table of all drill hole collar locations and data is available at the following link https://g2goldfields.com/wp-content/uploads/2020/05/DrillHoleCollarTable.pdf.Holes OKD-34 and 35 confirm that the main gold zone at the ODZ remain strongly mineralized and open to the north and at depth. Additionally, a new, near surface, structure has been discovered in hole OKD-35, where drilling intercepted 25 m grading 2.2 g/t Au, from 16.5 metres downhole.A plan view map of drilling completed to date at the ODZ is displayed as Figure 1 or is available at the following link https://g2goldfields.com/wp-content/uploads/2020/05/OkoPlanView.pdf.Dan Noone, CEO stated, “We continue to be delighted with the predictability, continuity and grade of the Main Zone within the ODZ, which we have now intersected in drilling over a strike of 720 m.Also, the broad zone of near surface mineralization in OKD-35, once again displays the potential for the development of parallel zones of significant mineralization on either side of the Main Zone.Further drilling to the north and south, following the trend defined by surface geochemistry, should allow us to continue to expand the current limits of the mineralization as defined by drilling to date.”
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