O2Gold (TSXV: OTGO) was one of the first firms to release assay results this morning, evidently setting off a trend in the sector as a whole. Drill results come from the firms flagship property, where it is targeting the Aurora vein in initial drilling.
Results from two holes were reported this morning, with AUR-21-002 intersecting 19.26 g/t gold and 10.5 g/t silver over 0.7 metres, at a depth of 23.10 metres. AUR-21-003 meanwhile intersected 0.71 g/t gold and 5.09 g/t silver over 4.0 metres at a depth of 159.2 metres.
The initial results indicate that more drilling is required by the company for it to better understand the width and grade of the main vein. This is expected to be completed via a large volume sample, which will be conducted in connection with the firm launching small-scale production.
Targets elsewhere on the site have seen rock channel sampling and geophysics occur across them, with five veins in total being extended on average by 300 metres at Aparecida. One such vein at Aparecida has seen rock channel samples return values of 42.3 g/t gold and 49.6 g/t silver.
Quintanillo has seen four veins discovered, with the main vein being extended by 1.2 kilometres. Lastly, Botella has seen five veins identified, which were extended on average by 200 metres. The Esmeralda vein here has seen multiple samples return values of 30 g/t silver.
O2Gold last traded at $0.23 on the TSX Venture.
Information for this briefing was found via Sedar and O2Gold Inc. The author is currently long the equity. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
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.