O2Gold Inc (TSXV: OTGO) this morning announced that it has identified the first targets as part of a planned drill campaign. The drill program, pegged at an initial 10,000 metres, is to take place on the properties recently acquired from Grupo de Bullet in Colombia.
The planned drill campaign has seen the first 2,000 metres of targets defined, with drilling set to begin in the second quarter. The company has elected to target previous data that it obtained in the production tunnels of the Aurora mine to evaluate these results. Following this initial drilling, the company will then relocate its drills to brownfield targets for an additional 8,000 metres of drilling, with a focus on Aparecida and Quintanillo.
The company has also begun testing 15,000 linear meters of the veins at the Aurora-Quintanillo target, where O2Gold will look to define the continuity of mineralization along strike and dip. Geophysical exploration is also ongoing, with results expected late in the second quarter, to early in the third quarter.
O2Gold last traded at $0.26 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.
