(via TheNewswire)
As announced on
The Company has completed 5,300m of drilling since mid 2019 with over 3,000m of the planned 4,500m completed of its Phase Two drilling program. The balance of the drilling, sampling and assaying is expected to be completed during the next month. The Company has had between three and four drilling rigs on site over the last few weeks. To manage the drilling program and prepare for the return to production, the Company has built a team of six geologists on site including highly experienced staff and supported by
The below figure shows the drilling completed to date:
Click Image To View Full Size
Figure1 - Map showing the advances of the current drilling program
Assays for much of the drilling are pending, but highlights of the results received thus far include:
1. LV21025 4.40 metres@ 5.13 g/t Au starting at 61.70 metres;
2. LV21029 9.95 metres@ 1.86 g/t Au starting at 18.75 metres;
3.19LV0026 4.00 metres@ 1.71 g/t Au starting at 9.00 metres;
4.19LV0026 4.00 metres@ 1.20 g/t Au starting at 44.65 metres;
5.19LV0064 4.00 metres@ 1.43 g/t Au starting at 24.75 metres;
6.19LV0001 4.00 metres@ 2.17 g/t Au starting at 35.40 metres;
7.19LV0001 5.20 metres@ 1.37 g/t Au starting at 65.00 metres;
The Phase Two drilling campaign is focused on the resulting planned publication of the Technical Report defining sufficient resources to support an inital mine plan of ~3Mt, for the restart of production in Q3 2021. The feasibility study, progressing in parallel with the return to production, is currently expected in
Drilling is currently focused in an area within 500m of the edges of the two existing pits, infilling lateral extensions of the shear hosted structures to the east and west of the red shear. The structures remain open on strike and are known to extend to 250m below surface as confirmed by deep drilling below the south pit. The Company observes that the mineralization is similar to major operations such as
The ongoing drill program is confirming the continuity of the mineralized structures outside the pit area, with well-defined trends, roughly NW-SE. The style of the minerlization consists of steeply-dipping sheeted quartz vein systems and shear zones bearing sulphides in meta-volcanics and quartz-diorite hosts.
The core is analysed using cyanide leach with AA finish. Fire assays are used for comparative analysis to CN soluble determinarions. Overall, CN soluble gold represents approximarely 95% of total contained gold for this deposit demonstrating the conservative nature of the results, presented below (bolded to indicate highlights above).
Second Phase (2021 program)
Area-
(
--------------------------------------- |Hole LV21023| | | | Collar | | |2527888.23 | | |mE 7160149.66 | | |mN, 55.19 mEL, | | |Azimuth 320, | | |Dip -45, Depth | | |50.00 m | |-------------------------------------| | |FROM (m)|Length (m)|Au | | | | |g/t | |-------------------------------------| |Intersection|22.15 |2.70 |1.25| |-------------------------------------| |Includes | |0.70 |3.60| |-------------------------------------| |Intersection|26.70 |5.65 |1.18| |-------------------------------------| |Includes | |0.85 |4.50| |-------------------------------------| |Also | |0.85 |1.33| |Includes | | | | ---------------------------------------
---------------------------------------- |Hole LV21025| | | | Collar | | |2527875.07 | | |mE 7160171.87 | | |mN, 54.14 mEL, | | |Azimuth 0, Dip | | |-45, Depth | | |67.30 m | |--------------------------------------| | |FROM (m)|Length (m)|Au | | | | |g/t | |--------------------------------------| |Intersection|28.67 |1.03 |3.16 | |--------------------------------------| |Intersection|44.05 |0.80 |1.77 | |--------------------------------------| |Intersection|61.70 |4.40 |5.13 | |--------------------------------------| |Includes | |0.90 |20.50| |--------------------------------------| |Also | |0.80 |1.91 | |Includes | | | | |--------------------------------------| |Also | |1.00 |2.21 | |Includes | | | | ----------------------------------------
--------------------------------------- |Hole | | |LV21026 | Collar | | |2527927.19 | | |mE 7160165.35 | | |mN, 54.73 mEL, | | |Azimuth 0, Dip | | |-45, Depth | | |52.70 m | |-------------------------------------| | |FROM (m)|Length (m)|Au | | | | |g/t | |-------------------------------------| |Intersection|15.55 |1.00 |8.05| |-------------------------------------| |Intersection|26.60 |2.30 |1.05| |-------------------------------------| |Includes | |0.80 |1.61| |-------------------------------------| |Intersection|31.90 |0.70 |1.05| |-------------------------------------| |Intersection|34.90 |0.93 |1.26| ---------------------------------------
---------------------------------------- |Hole LV21029| | | | Collar | | |2527888.23 | | |mE 7160149.66 | | |mN, 55.19 mEL, | | |Azimuth 202, | | |Dip -45, Depth | | |52.70 m | |--------------------------------------| | |FROM (m)|Length (m)|Au | | | | |g/t | |--------------------------------------| |Intersection|13.70 |0.90 |1.36 | |--------------------------------------| |Intersection|18.75 |9.95 |1.86 | |--------------------------------------| |Includes | |1.65 |6.64 | |--------------------------------------| |Also | |0.80 |10.20| |Includes | | | | |--------------------------------------| |Also | |0.85 |3.07 | |Includes | | | | |--------------------------------------| |Also | |0.90 |1.79 | |Includes | | | | |--------------------------------------| |Also | |0.75 |2.83 | |Includes | | | | ----------------------------------------
(
--------------------------------------- |Hole | | |LV21005 | Collar | | |2528574.98 mE, | | |7160191.98 mN, | | |62.02 mEL, | | |Azimuth 0, Dip | | |-45, Depth | | |80.50 m | |-------------------------------------| | |FROM (m)|Length (m)|Au | | | | |g/t | |-------------------------------------| |Intersection|23.35 |0.80 |1.55| |-------------------------------------| |Intersection|73.90 |0.65 |1.69| ---------------------------------------
--------------------------------------- |Hole | | |LV21006 | Collar | | |2528624.97 | | |mE 7160242.33 | | |mN, 63.04 mEL, | | |Azimuth 0, Dip | | |-45, Depth | | |82.30 m | |-------------------------------------| | |FROM (m)|Length (m)|Au | | | | |g/t | |-------------------------------------| |Intersection|56.83 |0.87 |1.52| ---------------------------------------
--------------------------------------- |Hole | | |LV21007 | Collar | | |2528626.44 | | |mE 7160191.97 | | |mN, 63.83 mEL, | | |Azimuth 0, Dip | | |-45, Depth | | |79.70 m | |-------------------------------------| | |FROM (m)|Length (m)|Au | | | | |g/t | |-------------------------------------| |Intersection|47.66 |2.14 |1.18| |-------------------------------------| |Includes | |1.21 |1.65| |-------------------------------------| |Intersection|54.40 |0.80 |1.55| |-------------------------------------| |Intersection|67.37 |2.80 |1.19| |-------------------------------------| |Includes | |0.97 |3.34| ---------------------------------------
First Phase (2019 program)
Area-
(
-------------------------------------- |Hole | | |19LV0001 | Collar | | |2527650.88 mE, | | |7159871.80 mN, | | |45.57 mEL, | | |Azimuth 0, Dip | | |-50, Depth | | |115.50 m | |------------------------------------| | |FROM (m)|Length(m)|Au | | | | |g/t | |------------------------------------| |Intersection|35.40 |4.00 |2.17| |------------------------------------| |Includes | |1.00 |6.86| |------------------------------------| |Also | |1.00 |1.12| |Includes | | | | |------------------------------------| |Intersection|43.40 |1.00 |1.24| |------------------------------------| |Intersection|65.00 |5.20 |1.37| |------------------------------------| |Includes | |1.00 |2.36| |------------------------------------| |Also | |1.00 |1.56| |Includes | | | | |------------------------------------| |Also | |1.00 |2.07| |Includes | | | | |------------------------------------| |Intersection|83.20 |1.00 |1.03| |------------------------------------| |Intersection|87.30 |2.00 |1.09| |------------------------------------| |Includes | |1.00 |1.24| |------------------------------------| |Intersection|95.30 |7.00 |1.79| |------------------------------------| |Includes | |1.00 |1.49| |------------------------------------| |Also | |1.00 |9.31| |Includes | | | | |------------------------------------| |Intersection|110.30 |1.10 |1.34| --------------------------------------
Table – AA
(
--------------------------------------- |Hole | | |19LV0025 | Collar | | |2527877.54 mE, | | |7159867.77 mN, | | |40.40 mEL, | | |Azimuth 0, Dip | | |-50, Depth | | |100.50 m | |-------------------------------------| | |FROM (m)|Length (m)|Au | | | | |g/t | |-------------------------------------| |Intersection|32.85 |7.05 |1.04| |-------------------------------------| |Includes | |1.00 |1.28| |-------------------------------------| |Also | |1.00 |1.84| |Includes | | | | |-------------------------------------| |Also | |0.80 |2.26| |Includes | | | | |-------------------------------------| |Intersection|67.55 |6.00 |1.18| |-------------------------------------| |Includes | |1.00 |1.32| |-------------------------------------| |Also | |1.00 |2.97| |Includes | | | | ---------------------------------------
--------------------------------------- |Hole | | |19LV0026 | Collar | | |2527879.89 | | |mE 7159938.20 | | |mN, 26.07 mEL, | | |Azimuth 0, Dip | | |-50, Depth | | |106.40 m | |-------------------------------------| | |FROM (m)|Length (m)|Au | | | | |g/t | |-------------------------------------| |Intersection|9.00 |4.00 |1.71| |-------------------------------------| |Includes | |1.00 |3.89| |-------------------------------------| |Also | |1.00 |1.01| |Includes | | | | |-------------------------------------| |Also | |1.00 |1.47| |Includes | | | | |-------------------------------------| |Intersection|44.65 |4.00 |1.29| |-------------------------------------| |Includes | |1.00 |3.86| |-------------------------------------| |Intersection|83.75 |3.00 |1.26| |-------------------------------------| |Includes | |1.00 |2.20| |-------------------------------------| |Also | |1.00 |1.24| |Includes | | | | ---------------------------------------
--------------------------------------- |Hole | | |19LV0046 | Collar | | |2527974.85 | | |mE 7159921.98 | | |mN, 30.02 mEL, | | |Azimuth 356, | | |Dip -50, Depth | | |82.25 m | |-------------------------------------| | |FROM (m)|Length (m)|Au | | | | |g/t | |-------------------------------------| |Intersection|37.30 |0.80 |8.81| ---------------------------------------
--------------------------------------- |Hole | | |19LV0063 | Collar | | |2528126.67 | | |mE 7160476.54 | | |mN, 49.73 mEL, | | |Azimuth 355, | | |Dip -50, Depth | | |103.40 m | |-------------------------------------| | |FROM (m)|Length (m)|Au | | | | |g/t | |-------------------------------------| |Intersection|97.40 |1.00 |1.14| ---------------------------------------
--------------------------------------- |Hole | | |19LV0064 | Collar | | |2528127.44 mE, | | |7160523.22 mN, | | |46.94 mEL, | | |Azimuth 0, Dip | | |-50, Depth | | |72.5 m | |-------------------------------------| | |FROM (m)|Length (m)|Au | | | | |g/t | |-------------------------------------| |Intersection|15.80 |1.00 |1.13| |-------------------------------------| |Intersection|24.75 |4.00 |1.43| |-------------------------------------| |Includes | |1.00 |3.98| |-------------------------------------| |Also | |1.00 |1.48| |Includes | | | | |-------------------------------------| |Intersection|36.85 |2.00 |1.53| |-------------------------------------| |Includes | |1.00 |2.28| |-------------------------------------| |Intersection|54.85 |1.15 |1.18| ---------------------------------------
-------------------------------------------------------------------------------------------- |Hole | | | |19LV0069 | Collar | | | |2528175.42 | | | |mE 7160112.52 | | | |mN, | | | |56.11 | | | |mEL, | | | |Azimuth | | | |358, Dip | | | |-50, | | | |Depth | | | |97.90 m | | |------------------------------------------------------------------------------------------| | |FROM (m) |Length (m) |Au | | | | | |g/t | | |------------------------------------------------------------------------------------------| |Intersection|22.40 |1.00 |15.79 | | |------------------------------------------------------------------------------------------| |Intersection|31.00 |2.00 |6.00 | | |------------------------------------------------------------------------------------------| |Includes | |1.00 |11.20 | | |------------------------------------------------------------------------------------------| |Hole | Collar | |19LV0079 |2528224.59 mE 7159952.05 mN, 56.97 mEL, Azimuth 359, Dip -50, Depth 101.00 m | |------------------------------------------------------------------------------------------| | |FROM (m) |Length (m) |Au | | | | |g/t | |------------------------------------------------------------------------------------------| |Intersection|86.25 |1.00 |5.98 | --------------------------------------------------------------------------------------------
--------------------------------------- |Hole | | |19LV0080 | Collar | | |2528228.09 mE, | | |7159992.46 mN, | | |56.40 mEL, | | |Azimuth 359, | | |Dip -50, Depth | | |109.80 m | |-------------------------------------| | |FROM (m)|Length (m)|Au | | | | |g/t | |-------------------------------------| |Intersection|28.00 |1.00 |1.03| |-------------------------------------| |Intersection|44.00 |1.00 |1.17| |-------------------------------------| |Intersection|47.00 |1.00 |1.37| |-------------------------------------| |Intersection|87.50 |3.00 |1.10| |-------------------------------------| |Includes | |1.00 |2.26| ---------------------------------------
Significant drill intercepts, defined as any mineralisation of 1 metre lengths or longer, are presented in the tables above.
“Brian Wesson”
President and CEO
Otso Gold Corp.
For further information, please contact:
Vice President
1 917 287-0716
info@otsogold.com
www.otsogold.com
The technical disclosure in this news release has been reviewed and approved by
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
Otso Gold Mine is fully built, fully permitted, has all infrastructure in place, two open pits
and is progressing towards a restart at 2 million tonnes per annum throughput.
Neither the
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Copyright (c) 2021 TheNewswire - All rights reserved., source