O2Gold Extends Main Aurora Vein To 450 Metres
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.
FULL DISCLOSURE: O2Gold is a client of Canacom Group, the parent company of The Deep Dive. The author has been compensated to cover O2Gold on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. We may buy or sell securities in the company at any time. Always do additional research and consult a professional before purchasing a security.
As the founder of The Deep Dive, Jay is focused on all aspects of the firm. This includes operations, as well as acting as the primary writer for The Deep Dive’s stock analysis. In addition to The Deep Dive, Jay performs freelance writing for a number of firms and has been published on Stockhouse.com and CannaInvestor Magazine among others.
