• July 27, 2022

Osino Announces Drill Assay Results and Update on PFS Progress Twin Hills Gold Project, Namibia

Published on July 27th, 2022


  • 41,368m of drilling completed at Twin Hills during 2022 to-date, completing the infill and step-out drilling for the planned PFS and mineral resource update.
  • Latest drill assays include:
    • OKD428: 72m @ 1.01g/t (302-374m) incl. 30m @ 1.59g/t (Clouds Step-out)
    • OKR437: 60m @ 1.17g/t (280-340m) incl. 29m @ 1.28g/t (Clouds Step-out)
    • OKD446: 70m @ 0.90g/t (310-380m) incl. 14m @ 1.94g/t (Clouds Step-out)
    • OKD432: 37m @ 1.26g/t (149-186m) incl. 9m @ 3.83g/t (Clouds Step-out)
    • OKD449: 46m @ 1.11g/t (415-461m) incl. 7m @ 3.67g/t (Twin Hills Central Step-out)
    • OKD450: 12m @ 6.87g/t (68-80m) incl. 1m @ 78.70g/t (Twin Hills Central Step-out)
    • OKD254: 43m @ 0.96g/t (416-459m) incl. 32m @ 1.16g/t (Twin Hills Central Step-out)
    • OKR537: 8m @ 4.54g/t (16-24m) (Clouds West Infill)
    • OKR548: 15m @ 2.24g/t (64-79m) (Clouds West Infill)
    • OKD455: 29m @ 1.18g/t (172-201m) incl. 20m @ 1.54g/t (Clouds West Infill)
    • OKD433: 22m @ 1.03g/t (142-164m) and 8m @ 3.77g/t (252-260m) (Twin Hills West Infill)
    • OKR501: 20m @ 1.29g/t (124-144m) and 7m @ 1.21g/t (158-165m) (Twin Hills West Infill)
  • The results for Clouds West well exceeded expectations as grade and width improved with depth and along 300m of strike to-date.
  • The latest drill results will convert most of the previously Inferred resource to the Indicated category and are expected to add significant additional mineral resources.

VANCOUVER, British Columbia, July 25, 2022 (GLOBE NEWSWIRE) — Osino Resources Corp(TSXV:OSI) (FSE:RSR1) (OTCQX:OSIIF) (“Osino” or “the Company”) is pleased to provide an update on the recently completed infill and step-out drill program at the Twin Hills Gold Project (“Twin Hills”). Twin Hills now comprises five distinct mineralized zones namely Bulge, Twin Hills Central (“THC”), Clouds, Twin Hills West (“THW”) and Clouds West, listed by order of approximate size – see Figure 1.

The Twin Hills Project remains on a fast-tracked timeframe, and the publication of the Twin Hills Pre-feasibility study (“PFS”) is expected not later than early September 2022. Following that a Definitive Feasibility Study (“DFS”) is expected to be completed in Q2 2023.

Dave Underwood, Osino’s VP Exploration commented: “The resource conversion drill program at Twin Hills is now complete and has been a resounding success. Not only have we achieved much improved geological confidence, but we also significantly extended the mineralized envelopes, discovered new areas of mineralization and intercepted a number of new high-grade shoots. All the assay data has been supplied to CSA Global for the resource update, which will feed into the PFS study due in early September. One of the key take-aways from this exercise is that mineralization at both THC and Clouds improves at depth and becomes more cohesive down plunge. The Clouds West orebody was previously thought to be a very small cigar shaped body of mineralization but has produced higher grades recently and is up to 300m in strike length and open to the northeast. The step out drilling to the north of THC also produced a nice surprise when we intersected 12m @ 6.87g/t near surface in a new zone along the northern margin of the pit.”

Osino has a current mineral resource of 2.1moz of gold in the Indicated and 0.62moz in the Inferred category (refer to press release dated April 13, 2022). The 2022 infill and step-out program was aimed at converting the Inferred ounces to Indicated status (thereby enabling Osino to include these ounces in the upcoming PFS), as well as to extend the mineralization down dip below the previously modelled pit shell.

Twin Hills Infill and Step-Out Drill Program

Osino completed 34,468m of infill drilling and 6,900m of step-out drilling for a total of 41,368m during the year to-date. Much of the post April MRE drilling has been at Twin Hills West, where all the ounces reported previously were in the Inferred category. There was also scope at Twin Hills West to expand the mineralization and a new shoot was discovered in the southeast which will increase the contribution of this deposit to the Twin Hills inventory (refer to holes OKD460 and OKR501 on Figure 1 below).

Figure 1 is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/d4403946-66de-4645-b956-29ef9726b7f7

Step-out drilling was focussed on the deeper parts of THC and Clouds where the mineralization tends to coalesce into a single wide shoot at depth and there is scope to deepen the pits (refer to the sections in Figures 3 and 4 which have been plotted down plunge of the major shoots in a north-easterly direction).

Additional infill drilling was carried out in the Clouds West area where previous drilling had identified a very small shoot of mineralization which was thought to be closed off. However, the latest drilling has indicated that this mineralized zone is larger than previously thought and contains noteworthy grades including 8m @ 4.54g/t from 16-24m in OKR537 and 15m @ 2.24g/t from 64-79m in OKR548. The Clouds West shoot is now 300m in strike length and open to the northeast (refer to Figure 2).

Figure 2 is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/b242c2ae-773b-40cb-87db-aec1d074f7e5

A new zone of mineralization has been discovered on the northern pit margin at THC, intersected by four holes to date (refer to Figure 2). Hole OKD450 returned 12m @ 6.87g/t from 68m in depth. This northern margin zone appears to be increasing in width and grade towards the northeast (refer to Figure 2) and will be followed up in the next round of drilling.

Read full Announcement

SOURCE: Osino Resources
DATE: August 5, 2022

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