By Staff Reporter
VANCOUVER, British Columbia, Aug. 10 — Osino Resources Corp. (TSXV: OSI) (FSE: RSR1) (OTCQX: OSIIF) (“Osino” or “the Company”) is excited to unveil a significant gold mineralization discovery at the Eureka greenfields exploration project (“Eureka” or “the Project”), situated approximately 35km northeast of the Company’s Ondundu Gold Project.
The Eureka license was pinpointed in 2019 as part of a regional target generation exercise based on structure and geology. Prior to this, the area remained unexplored, and no local gold deposits were known. The exploration of the license began with soil and rock chip sampling, revealing a gold anomaly at the surface. The first two scout holes drilled into this anomaly intersected broad zones of gold, including a notable 29m @ 2.69g/t, from the surface. This initial success prompted a nine-hole step-out diamond drilling program, further confirming the presence of gold in several holes, with high-grade shoots of 47m @ 5.92g/t and 18m @ 4.70g/t.
Dave Underwood, Osino’s VP of Exploration, stated, “The Eureka license was identified in 2019 as part of a regional target generation exercise based on structure and geology. There has been no previous exploration in the area, and there are no known local gold deposits. The license was initially explored using soil and rock chip sampling, which produced a gold anomaly at the surface. The first two scout holes into the anomaly intersected wide zones of gold, including 29m @ 2.69g/t, from the surface. These two holes were quickly followed up with a nine-hole, step-out diamond drill program which again intersected gold in several holes including high-grade shoots of 47m @ 5.92g/t and 18m @ 4.70g/t.”
He continued, “This greenfield discovery in an area with no known gold occurrences is a testament once again to the target generation ability of the Osino team and the effective, systematic exploration our team is known for. The high-grade shoots intersected in holes ORD004, ORD005, and ORD006 are an exciting surprise, and unusual in the Namibian gold deposit context. The core is spectacular with numerous visible gold grains in a sulphide matrix breccia. We have just scratched the surface of this new gold project; the mineralization is open in all directions and there are several additional targets which remain to be drilled. We are very bullish about Eureka and what it could mean for the development of a new gold district, including Osino’s Ondundu project 35km to the southwest and WIA Gold’s recently discovered Kokoseb deposit a further 50km to the southwest.”
The Eureka discovery is a significant milestone for Osino and holds the potential to establish a major new gold district in Namibia. The Company is committed to continuing exploration of the Eureka license and is actively seeking additional land acquisitions in the area.
