G2 Goldfields Makes New Discovery On Proposed Spin-Out Claims

G2 Goldfields (TSX: GTWO) is reporting a new gold discovery at its OKO Project in Guyana. The discovery reportedly occurs several miles to the north of the existing gold resources at the property and follows a small drill campaign conducted on a new target.

Highlights from the results include:

• AMD-1: 2.2 g/t gold over 11.9 metres from a depth of 3.1 metres
• AMD-2: 4.3 g/t gold over 6.9 metres from a depth of 22.6 metres
• AMD-7: 1.5 g/t gold over 10.5 metres from a depth of 21.0 metres, including 3.9 g/t gold over 3.0 metres
• AMD-8: 2.0 g/t gold over 24.0 metres from a depth of 52.5 metres, including 2.8 g/t gold over 9.3 metres

The new discovery has been identified to have an initial strike length of 420 metres based on eight diamond drill holes conducted on a new target. The target was identified following stream sediment sampling conducted in 2023, which led to a soil sampling campaign that identified an anomalous gold zone measuring 1,400 metres by 900 metres in size.

The new discovery, which has yet to be named, is said to remain open in all directions with drilling still ongoing.

READ: G2 Goldfields To Transfer Non-core Assets To G3 Subsidiary In Advance Of Proposed Spinout

The discovery is currently found within properties in the proposed G3 Goldfields spin-out portfolio. The proposed spin-out is expected to include $15 million in cash, which is an increase from the previously proposed $10 million figure.

G2 Goldfields last traded at $3.30 on the TSX.

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Information for this briefing was found via Sedar and the sources mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.