- 13.5 million tonnes (Mt) at an average grade of 1.00 g/t Au for a total of 0.43 million ounces (Moz) of gold in the Indicated mineral resource category.
- 42.6 Mt at an average grade of 1.08 g/t Au for a total of 1.47 Moz of gold in the Inferred mineral resource category.
- The mineral resource is reported within a conceptual pit shell using a gold price of US$1,700 per troy ounce and a cut-off grade of 0.5 g/t Au.
- The mineral resource includes a higher-grade portion above 0.9 g/t Au of:
o 7.3 Mt at 1.22 g/t Au for 0.29 Moz in Indicated
o 24.9 Mt at 1.32 g/t Au for 1.05 Moz in Inferred
- The mineral resource is estimated from approximately 69,000 m of diamond and reverse circulation drilling completed since the grassroots Twin Hills discovery in August/September 2019.
- An additional 35,000-40,000 m of infill drilling is planned, and it is expected that most of the Inferred mineral resources could be upgraded to Indicated with this additional drilling.
- Osino will host a webinar to discuss the maiden resource at 11am ET (8am PT) on April 13, 2021 – details below.
Vancouver, British Columbia, April 12, 2021 – Osino Resources Corp. (TSXV:OSI) (FSE:RSR1) (OTCQB:OSIIF) (“Osino” or “the Company”) is pleased to announce the maiden mineral resource for its Twin Hills Gold Project in the Erongo Region of Namibia. The mineral resource was estimated from approximately 69,000 meters (m) of diamond core (DD) and reverse circulation (RC) drilling, of which approximately 62,000 m was sampled with available assay data. Drill collars were spaced at 50 m x 50 m on surface, with holes inclined at 60°, resulting in an effective data spacing of 50 m along strike and 40 m on section lines.
Some areas were infill drilled at closer spacing and drilling is ongoing with the aim of upgrading the mineral resource to the indicated category by the end of 2021.
Heye Daun, Osino’s President & CEO commented as follows: “The publication of this maiden mineral resource is the culmination of almost five years of hard work, starting in 2016 when Osino commenced greenfield exploration in this area which had seen decades of conventional prospecting by multiple operators and was considered mature by established Namibian geological dogma. Notwithstanding this, Osino entered the area and by deploying innovative techniques, coupled with strong geological experience, sound technical judgement and committed financial support from our early investors, Osino was able to execute an extensive, multi-year exploration program which resulted in the grassroots discovery, below Kalahari sand and calcrete cover, of the Twin Hills Gold Project.
This is even more exciting as it occurred only 20 km from the largest gold deposit in southern Africa outside of the Wits basin (Navachab). Having spent less than CAD25m and around 69,000 m of drilling in total reflects an industry-leading unit cost and rate of discovery, which is testament to the ability of our team and the quality of our execution. Nevertheless, we see this as merely the beginning of the journey and we are already engaged in progressing Twin Hills to the next level, both in terms of exploration and resource growth and through the fast-tracked development of the project through feasibility and beyond.”
Mineral Resource Statement
The mineral resource estimate is that material within the reporting pit shell above a 0.5 g/t Au cutoff grade. The mineral resource estimate has an effective date of 01 April 2021 (Table 1), and a corresponding technical report disclosing the mineral resource estimate in accordance with NI 43-101 will be prepared by CSA Global (Pty) Ltd. for Osino with Mr. Anton Geldenhuys, BSc (Hon) of CSA Global (PTY) Ltd. as an author of the report, who is responsible for all sections in respect of the mineral resource estimate. Osino will file the technical report on SEDAR under its profile at www.sedar.com within 45 days of this news release.
SOURCE: Osino Resources Corp
DATE: April 12, 2021