O2Gold (TSXV: OTGO) this morning provided an update to its ongoing exploration program at its flagship Aurora property in Colombia. Most significantly, the company has increased the proven extension of the Aurora Vein to 450 metres.
Drilling to date at Aurora is said to have been focused on this main vein, with all holes to date intersecting the continuous mineralized zone for a length of over 450 metres. The projected extension of the vein meanwhile is stated as being 900 metres, with a downdip extension of 150 metres.
In terms of mineralization, the zone currently has an average thickness of 0.71 metres, with an average grade of 6.27 g/t gold. Separately, drilling at the Quintanillo zone may extend the length of the vein to over two kilometres. A total of 8,000 metres of drilling are currently planned for the property, with the goal of establishing a 43-101 resource estimate in Q1 2022.
Elsewhere on the property, the company is continuing the process of recuperating the Aurora Mine, with tunnels expected to be fully drained within 45 days, after which preparations for production are to begin. A 50 tonne per day operation is expected within the first stages of mining.
O2Gold last traded at $0.065 on the TSX Venture.
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