(via TheNewswire)
As previously announced, the first portion of an expected 10,000 m drilling program was completed in 2019 with the sample assaying delayed while funding was completed. Further sample batches began to be processed in October, 2020. The drill program results will be compiled and interpreted as they are received and will inform the final 8,000m of the drill program planned for in
The primary objective of this portion of the drilling programme has been to infill drill to improve confidence in the mineralisation to form the basis of the mine plan for production. The balance of the drilling will be focused on further infill drilling with some folllow up drilling of mineralisation from historical drilling programs to the north east of the
- 19LV0009: 2 metres @ 2.93 g/t Au starting at 64.8 metres;
- 19LV0066: 1 metres @ 3.52 g/t Au starting at 98 metres;
- 19LV0066: 1 metres @ 9.9 g/t Au starting at 116 metres;
- 19LV0068: 2 metres @ 10.63 g/t Au starting at 35.7 metres;
- 19LV0081: 1 metres @ 9.72 g/t Au starting at 48.05 metres; and
- 19LV0081: 1 metres @ 2.42 g/t Au starting at 52.05 metres.
“After a long 18 months putting all the pieces in place for a return to production, including funding, we are excited to be on the path to the production. Results from the drilling program continue to return positive results with the infill drilling confirming our modelling and the identification of additional shallow, high-grade gold mineralisation in and around the North and South pits demonstrating the potential to expand the pits”.
Detailed Drilling Results
The following table summarizes significant drill results obtained from the first batch of 2019 drilling results. Significant intercepts are defined as greater than 1m in width abovea 1.5 g/t cut-off, with max internal waste of 1m at at least 90% recovery. All results are from diamond core holes. The sample intervals are constrained by geology and range from a minimum of 0.7 metres to a maximum of 3 metres, averaging to the target interval of 1 metre in length. Mean grades are calculated at the stated cut-off with no upper cap applied.
--------------------------------------- |DH |Interval|Thickness| |Au | |-------------------------------------| | |From |To |(m)|(g/t)| |-------------------------------------| | |(m) |(m) | | | |-------------------------------------| |19LV0009|64.8 |66.8 |2 |2.93 | |-------------------------------------| |incl |64.8 |65.8 |1 |4.12 | |-------------------------------------| |incl |65.8 |66.8 |1 |1.74 | |-------------------------------------| |19LV0066|98 |99 |1 |3.52 | |-------------------------------------| |19LV0066|108 |109 |1 |1.43 | |-------------------------------------| |19LV0066|115 |121 |6 |1.85 | |-------------------------------------| |incl |116 |117 |1 |9.99 | |-------------------------------------| |19LV0067|43.3 |44.3 |1 |3.63 | |-------------------------------------| |19LV0068|35.7 |36.7 |1 |16.48| |-------------------------------------| |19LV0068|24.7 |25.7 |1 |1.57 | |-------------------------------------| |19LV0068|35.7 |37.7 |2 |10.63| |-------------------------------------| |19LV0081|48.05 |49.05 |1 |3.72 | |-------------------------------------| |19LV0081|52.05 |53.05 |1 |2.42 | |-------------------------------------| |19LV0081|97.8 |98.8 |1 |1.66 | ---------------------------------------
Qualified Person
The Qualified Person with overall responsibility for this press release for the Company, and who has reviewed the information contained herein, is Mr.
QA/QC Procedures: Sampling Methodology and Quality Control
All results have been generated from diamond core holes. Samples are shipped to the
Caution
The Company cautions that it has not defined or delineated any proven or probable reserves for the
The Company also cautions that the decision by the Company to proceed to develop the
About the Company
Neither the
For further information, please contact:
Vice President
1 917 287 0716
info@otsogold.com
www.otsogold.com
Forward-looking Statements
This press release contains forward-looking statements regarding the Company based on current expectations andassumptions of management, which involve known and unknown risks and uncertainties associated with our business and the economic environment in which the business operates. All such statements are forward-looking statements under applicable Canadian securities legislation. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking statements. By their nature, forward-looking statements require us to make assumptionsand are subject to inherent risks and uncertainties. We caution our readers of this press release not to place undue reliance on our forward-lookingstatements as a number of factors could cause actual results or conditions to differ materially from current expectations. Please refer to the risks set forth in the Company's continuous disclosure documents that can be found on SEDAR (www.sedar.com) under the Company’s issuer profile. The Company does not intend, and disclaims any obligation, except as required by law, to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.
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