G2 Drilling Significantly Expands New Oko Discovery
G2 Goldfields (OTCQX: GUYGF) has announced significant drilling results from its New Oko Discovery in Guyana, marking the company's third major gold discovery in the district. The ongoing drilling program has completed 108 drill holes totaling 20,423m, with new assays extending gold mineralization 200 meters down plunge to depths of 350m.
Key highlights include high-grade intersections of 49.5m @ 4.2 g/t Au and 7.5m @ 13.8 g/t Au from near-surface infill drilling, along with expansion results including 49.0m @ 1.3 g/t Au. The New Oko Discovery is located 10km north of the company's existing Oko-Ghanie Deposit, which holds 1.5 million ounces indicated at 3.40 g/t Au and 1.6 million ounces inferred at 2.48 g/t Au.
The company anticipates delivering an updated Mineral Resource Estimate (MRE) and Preliminary Economic Assessment (PEA) in Q4 2025, focusing on a multi-open pit operation combined with a high-grade underground mine.
G2 Goldfields (OTCQX: GUYGF) ha reso noti risultati di perforazione rilevanti presso la nuova scoperta New Oko in Guyana, la terza importante scoperta aurifera della società nel distretto. Il programma di perforazione in corso ha completato 108 fori per un totale di 20.423 m, con nuove analisi che estendono la mineralizzazione aurifera di 200 metri lungo la tendenza fino a profondità di 350 m.
Tra i principali risultati si segnalano intersezioni ad alto tenore come 49,5 m @ 4,2 g/t Au e 7,5 m @ 13,8 g/t Au da perforazioni di infill vicine alla superficie, oltre a risultati di espansione quali 49,0 m @ 1,3 g/t Au. La scoperta New Oko si trova 10 km a nord del deposito esistente Oko-Ghanie della società, che contiene 1,5 milioni di once indicate a 3,40 g/t Au e 1,6 milioni di once inferite a 2,48 g/t Au.
La società prevede di pubblicare una aggiornata stima delle risorse minerarie (MRE) e una valutazione economica preliminare (PEA) nel quarto trimestre 2025, con l'obiettivo di combinare più cave a cielo aperto con una miniera sotterranea ad alto tenore.
G2 Goldfields (OTCQX: GUYGF) ha anunciado resultados significativos de perforación en su nuevo descubrimiento New Oko en Guyana, que representa el tercer gran hallazgo aurífero de la compañía en el distrito. El programa de perforación en curso ha completado 108 sondajes por un total de 20.423 m, y los nuevos ensayos extienden la mineralización de oro 200 metros a lo largo de la dirección de inmersión hasta profundidades de 350 m.
Los aspectos destacados incluyen intersecciones de alto grado como 49,5 m @ 4,2 g/t Au y 7,5 m @ 13,8 g/t Au provenientes de perforaciones de relleno cercanas a la superficie, junto con resultados de expansión incluyendo 49,0 m @ 1,3 g/t Au. El descubrimiento New Oko está situado a 10 km al norte del depósito Oko-Ghanie de la compañía, que contiene 1,5 millones de onzas indicadas a 3,40 g/t Au y 1,6 millones de onzas inferidas a 2,48 g/t Au.
La compañía espera entregar una actualizada estimación de recursos minerales (MRE) y una evaluación económica preliminar (PEA) en el cuarto trimestre de 2025, centradas en una operación con múltiples canteras a cielo abierto combinada con una mina subterránea de alto grado.
G2 Goldfields (OTCQX: GUYGF)는 가이아나의 신규 발견지 New Oko에서 중요한 시추 결과를 발표했으며, 이는 해당 지구에서 회사의 세 번째 주요 금 광상 발견입니다. 진행 중인 시추 프로그램은 108개 시추공, 총 20,423m를 완료했으며, 신규 분석 결과 금 광화가 침향을 따라 200m 연장되어 최대 350m 깊이까지 확인되었습니다.
주요 하이라이트로는 근표면 인필 시추에서 확인된 49.5m @ 4.2 g/t Au 및 7.5m @ 13.8 g/t Au의 고품위 교차구간과, 확장 결과인 49.0m @ 1.3 g/t Au 등이 있습니다. New Oko 발견지는 회사의 기존 Oko-Ghanie 광상에서 북쪽으로 10km 떨어져 있으며, 해당 광상은 3.40 g/t Au에서 150만 온스의 규정(Indicated)과 2.48 g/t Au에서 160만 온스의 추정(Inferred)을 보유하고 있습니다.
회사는 다수의 노천광 구간과 고품위 지하광을 결합한 계획을 중심으로, 2025년 4분기에 갱신된 광물자원추정(MRE)과 예비경제성평가(PEA)를 발표할 것으로 예상하고 있습니다.
G2 Goldfields (OTCQX: GUYGF) a annoncé des résultats importants de forage pour sa découverte New Oko en Guyane, marquant la troisième découverte aurifère majeure de la société dans le district. Le programme de forage en cours a achevé 108 trous pour un total de 20 423 m, avec de nouveaux essais qui étendent la minéralisation aurifère de 200 mètres le long du pendage jusqu'à des profondeurs de 350 m.
Parmi les points saillants figurent des intersections à haute teneur de 49,5 m @ 4,2 g/t Au et 7,5 m @ 13,8 g/t Au issues de forages d'infill près de la surface, ainsi que des résultats d'extension incluant 49,0 m @ 1,3 g/t Au. La découverte New Oko est située à 10 km au nord du gisement Oko-Ghanie existant de la société, qui contient 1,5 million d'onces indiquées à 3,40 g/t Au et 1,6 million d'onces inférées à 2,48 g/t Au.
La société prévoit de publier une mise à jour de l'estimation des ressources minérales (MRE) et une étude économique préliminaire (PEA) au 4e trimestre 2025, axées sur une exploitation combinant plusieurs carrières à ciel ouvert et une mine souterraine à haute teneur.
G2 Goldfields (OTCQX: GUYGF) hat bedeutende Bohrergebnisse aus seiner New Oko-Entdeckung in Guyana bekanntgegeben – die dritte große Goldentdeckung des Unternehmens in dem Distrikt. Das laufende Bohrprogramm hat 108 Bohrlöcher mit insgesamt 20.423 m abgeschlossen, wobei neue Analysen die Goldvererzung um 200 Meter entlang des Streichens/Plunges bis in 350 m Tiefe verlängern.
Zu den wichtigsten Ergebnissen zählen hochgradige Abschnitte von 49,5 m @ 4,2 g/t Au und 7,5 m @ 13,8 g/t Au aus nahe der Oberfläche durchgeführten Infill-Bohrungen sowie Erweiterungsergebnisse wie 49,0 m @ 1,3 g/t Au. Die New Oko-Entdeckung liegt 10 km nördlich des vorhandenen Oko-Ghanie-Lagers des Unternehmens, das 1,5 Mio. Unzen in der Kategorie angezeigt (Indicated) bei 3,40 g/t Au und 1,6 Mio. Unzen in der Kategorie geschätzt (Inferred) bei 2,48 g/t Au enthält.
Das Unternehmen rechnet damit, im 4. Quartal 2025 eine aktualisierte Mineralressourcenschätzung (MRE) und eine Preliminary Economic Assessment (PEA) vorzulegen, die auf einem Betrieb mit mehreren Tagebauen in Kombination mit einem hochgradigen Untertageabbau fokussiert sind.
- None.
- Gold assays remain uncapped due to insufficient drilling data
- Additional assays pending for some zones (e.g., AMD97)
- Gold mineralisation extended 200 meters down plunge from previous holes
- 49.0m @ 1.3 g/t Au (AMD54A)
- 52.0m @ 1.1 g/t Au (AMD56)
- 46.5m @ 1.0 g/t Au (AMD58)
- 41.2m @ 1.7 g/t Au (AMD94)
- Infill drilling confirms near surface, high-grade gold mineralisation
- 49.5m @ 4.2 g/t Au (AMD87)
- 37.0m @ 3.2 g/t Au (AMD78)
- 7.5m @ 13.8 g/t Au (AMD97)
- Updated Mineral Resource Estimate (MRE) and Preliminary Economic Assessment (PEA) anticipated in Q4 2025
TORONTO, Sept. 08, 2025 (GLOBE NEWSWIRE) -- G2 Goldfields Inc. (“G2” or the “Company”) (TSX: GTWO; OTCQX: GUYGF) announces new assay results from the Company’s ongoing drilling program in the greater OKO-AREMU district, Guyana. G2 currently holds exploration rights to 83,967 acres in the district and the New Oko Discovery Area represents the third significant gold discovery on the Company’s holdings. Drill results within this release are part of an ongoing program from a new discovery initially announced in March (see press releases dated March 18, April 1, April 28, June 9 and July 15, 2025, available on SEDAR+ and the Company’s website) which lies 10km north of its existing gold resources at the Oko-Ghanie Deposit (1.5 million ounces indicated at 3.40 g/t Au and 1.6 million ounces inferred at 2.48 g/t Au). Multiple gold targets are currently being explored along a prominent 15km trend extending north from the Oko-Ghanie deposit.
Figure 1 — Plan View of District Target Areas
Within the New Oko Discovery, G2 has completed 108 drill holes totalling 20,423m to date. This release provides assay results for forty-nine drill holes (AMD 51 to AMD 99 inclusive) and a complete set of results is available here, with highlights shown in Tables 1 and 2 below.
Figure 2 – New Oko Discovery Long Section with Wireframe of Mineralisation
Discussion of Results
Diamond drilling in the New Oko Discovery area is primarily focused on defining near surface gold mineralisation amenable to open pit mining methods. This current round of drilling has established significant gold mineralisation down plunge of previously released gold intercepts, extending gold mineralisation to vertical depths of 350m. Highlights of expansion holes are presented in Table 1.
Table 1 – Highlights of Expansion Drill Holes
| DRILL HOLE | FROM (METRES) | TO (METRES) | INT. (METRES) | GRADE (G/T AU) | GRADE x DH WIDTH |
| AMD54A | 202.0 | 251.0 | 49.0 | 1.3 | 63.2 |
| Incl. | 219.5 | 234.5 | 15.0 | 3.0 | 44.6 |
| AMD56 | 274.0 | 326.0 | 52.0 | 1.1 | 58.7 |
| Incl. | 278.5 | 290.0 | 12.0 | 3.2 | 37.9 |
| AMD58 | 257.0 | 303.5 | 46.5 | 1.0 | 46.7 |
| Incl. | 272.0 | 284.0 | 12.0 | 2.0 | 24.4 |
| AMD68 | 303.5 | 350.1 | 46.6 | 0.8 | 35.2 |
| Incl. | 314.0 | 318.5 | 4.5 | 3.5 | 15.7 |
| AMD68 | 365.0 | 368.0 | 3.0 | 0.5 | 1.6 |
| AMD71 | 322.6 | 360.0 | 37.4 | 1.3 | 47.5 |
| Incl. | 322.5 | 334.5 | 11.9 | 2.3 | 27.9 |
| AMD94 | 218.9 | 260.0 | 41.2 | 1.7 | 68.3 |
| Incl. | 226.0 | 229.0 | 3.0 | 16.0 | 48.0 |
Notes to Table 1: Intercepts reported are down-hole widths. True widths are estimated between
Additionally, shallow infill drilling above 100m vertical depth has further defined high-grade gold mineralisation in upper parts of the new Oko Discovery Zone. Highlights of drill intercepts are included in Table 2.
Table 2 – Highlights of Infill Diamond Drill Holes
| DRILL HOLE | FROM (METRES) | TO (METRES) | INT. (METRES) | GRADE (G/T AU) | GRADE x DH WIDTH |
| AMD78 | 117.1 | 154.0 | 37.0 | 3.2 | 117.7 |
| Incl. | 124.1 | 127.9 | 3.8 | 26.7 | 102.3 |
| AMD81 | 21.3 | 62.4 | 41.1 | 1.3 | 52.4 |
| Incl. | 30.0 | 39.3 | 9.3 | 3.6 | 33.2 |
| AMD84 | 31.5 | 90.0 | 58.5 | 1.3 | 78.8 |
| Incl. | 36.0 | 40.5 | 4.5 | 4.6 | 20.5 |
| And | 75.0 | 82.5 | 7.5 | 3.3 | 24.7 |
| AMD84 | 106.5 | 108.0 | 1.5 | 1.5 | 2.3 |
| AMD87 | 19.5 | 69.0 | 49.5 | 4.2 | 207.6 |
| Incl. | 27.0 | 36.0 | 9.0 | 18.7 | 168.4 |
| *AMD97 | 13.5 | 21.0 | 7.5 | 13.8 | 103.3 |
| AMD97 | 55.5 | 77.0 | 21.5 | 0.7 | 15.6 |
Notes to Table 2: Intercepts reported are down-hole widths. True widths are estimated between
* N.B. Pending additional assays for the upper contact of this zone (AMD97).
Dan Noone, G2 CEO, stated: “We are very encouraged by the ongoing progress at the project, especially the expansion of near-surface, open-pittable gold zones that will be reflected in the updated Mineral Resource Estimate (MRE) scheduled for Q4 2025. In parallel, work on the Preliminary Economic Assessment (PEA) is advancing well, and we remain confident that the project will develop into a very significant new gold mine for Guyana.”
Patrick Sheridan, G2 Executive Chairman, added: “The next three months will be a pivotal time for our shareholders as we deliver the initial economic parameters for a multi-open pit operation combined with a high-grade underground mine at our Oko Main Zone (776,600 oz. Au Indicated contained within 2,729,000 tonnes @ 8.85 g/t Au and 498,200 oz Au. Inferred contained within 2,938,000 tonnes @ 5.27 g/t Au). At the same time, we will continue drilling across several new promising areas.”
QA/QC
Drill core is logged and sampled in a secure core storage facility located on the OKO Project site, Guyana. Core samples from the program are cut in half, using a diamond cutting saw, and are sent to MSALABS Guyana, in Georgetown, Guyana, which is an accredited mineral analysis laboratory, for analysis. Samples from sections of core with obvious gold mineralisation are analysed for total gold using an industry-standard 500g metallic screen fire assay (MSALABS method MSC 550). All other samples are analysed for gold using standard Fire Assay-AA with atomic absorption finish (MSALABS method; FAS-121). Samples returning over 10.0 g/t gold are analysed utilizing standard fire assay gravimetric methods (MSALABS method; FAS-425). Certified gold reference standards, blanks, and field duplicates are routinely inserted into the sample stream, as part of G2 Goldfield’s quality control/quality assurance program (QAQC). No QA/QC issues were noted with the results reported herein.
About G2 Goldfields Inc.
G2 Goldfields finds and develops gold deposits in Guyana. The founders and principals of the Company have been directly responsible for the discovery of more than 10 million ounces of gold in the prolific and underexplored Guiana Shield. G2 continues this legacy of exploration excellence and success.
In March 2025, G2 announced an Updated Mineral Resource Estimate (“MRE”) for the Oko property in Guyana [see press release dated March 10, 2025]. Highlights of the Updated MRE include:
Total combined open pit and underground Resource for the Oko Main Zone (OMZ):
- 513,500 oz. Au – Inferred contained within 3,473,000 tonnes @ 4.60 g/t Au
- 808,000 oz. Au – Indicated contained within 3,147,000 tonnes @ 7.98 g/t Au
Total combined open pit and underground Resource for the Ghanie Zone:
- 1,024,500 oz. Au – Inferred contained within 12,062,000 tonnes @ 2.64 g/t Au
- 663,400 oz. Au – Indicated contained within 10,288,000 tonnes @ 2.01 g/t Au
Total open pit Resource for the Oko NW Zone:
- 97,200 oz. Au – Inferred contained within 4,976,000 tonnes @ 0.61 g/t Au
The MRE was prepared by Micon International Limited with an effective date of March 1, 2025. The Oko district has been a prolific alluvial goldfield since its initial discovery in the 1870s, and modern exploration techniques continue to reveal the considerable potential of the district.
All scientific and technical information in this news release has been reviewed and approved by Dan Noone (CEO of G2 Goldfields Inc.), a “qualified person” within the meaning of National Instrument 43-101. Mr. Noone (B.Sc. Geology, MBA) is a Fellow of the Australian Institute of Geoscientists.
Additional information about the Company is available on SEDAR+ (www.sedarplus.ca) and the Company's website (www.g2goldfields.com).
On behalf of the Board of G2 Goldfields Inc.
“Daniel Noone”
CEO & Director
For Further Information
Jacqueline Wagenaar, VP Investor Relations
Direct: +1.416.628.5904 x.1150
Email: j.wagenaar@g2goldfields.com
Forward-Looking Statements
This news release contains certain forward-looking statements, including, but not limited to, statements about the mineralization and mineral resource estimates in respect of the Company’s properties, an updated MRE and PEA for a multi-open pit and underground operation and the anticipated timing thereof, multiple gold targets being explored along a prominent 15km trend. Wherever possible, words such as “may”, “will”, “should”, “could”, “expect”, “plan”, “intend”, “schedule”, “anticipate”, “believe”, “estimate”, “predict” or “potential” or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management’s current beliefs and are based on information currently available to management as at the date hereof. Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements, including the risk factors set out in the annual information form of the Company for the year ended August 25, 2025. These factors should be considered carefully and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this news release are based upon what management believes to be reasonable assumptions, the Company cannot assure readers that actual results will be consistent with these forward-looking statements. The Company assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.
A PDF accompanying this announcement is available at
http://ml.globenewswire.com/Resource/Download/61711074-5974-40f5-87ae-0dbf86bd01f9
Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/20088d93-4465-42dc-98d3-88a1ebc49612
https://www.globenewswire.com/NewsRoom/AttachmentNg/f112018a-7eee-4431-8ac9-42623f8e9f1a
FAQ
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