G2 Drills Best Holes to Date in New OKO Surface Discovery
G2 Goldfields (OTCQX: GUYGF) has announced exceptional drilling results from its New OKO Discovery Area in Guyana, marking the company's third significant gold discovery within its 83,967-acre holdings. The standout results include intersections of 5.9 g/t Au over 60 metres (including 9.3 g/t Au over 22.5m) in hole AMD30 and 2.2 g/t Au over 99.9 metres in hole AMD50.
The company has completed 69 diamond drill holes totaling 13,239m in the New OKO Discovery Area, with 56 holes targeting the 'Main Shear'. This discovery is located 10km north of existing gold resources at the Oko-Ghanie Deposit, which currently holds 1.5 million ounces indicated at 3.40 g/t Au and 1.6 million ounces inferred at 2.48 g/t Au.
G2 plans to release an updated Mineral Resource Estimate and Preliminary Economic Assessment in Q4 2025. The company currently has five drill rigs active in the Discovery Area, demonstrating its commitment to aggressive exploration of this promising site.
G2 Goldfields (OTCQX: GUYGF) ha annunciato risultati eccezionali di perforazione nella sua nuova area di scoperta OKO in Guyana, segnando la terza importante scoperta d'oro all'interno dei suoi 83.967 acri di concessioni. I risultati più rilevanti includono intersezioni di 5,9 g/t Au su 60 metri (inclusi 9,3 g/t Au su 22,5 m) nel foro AMD30 e 2,2 g/t Au su 99,9 metri nel foro AMD50.
L'azienda ha completato 69 fori diamantati per un totale di 13.239 m nell'area di scoperta New OKO, con 56 fori mirati alla 'Main Shear'. Questa scoperta si trova a 10 km a nord delle risorse aurifere esistenti presso il deposito Oko-Ghanie, che attualmente detiene 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.
G2 prevede di pubblicare una versione aggiornata della stima delle risorse minerarie e una valutazione economica preliminare nel quarto trimestre 2025. Attualmente, la società ha cinque trivelle attive nell'area di scoperta, dimostrando il suo impegno in un'esplorazione aggressiva di questo sito promettente.
G2 Goldfields (OTCQX: GUYGF) ha anunciado resultados excepcionales de perforación en su nueva área de descubrimiento OKO en Guyana, marcando el tercer hallazgo significativo de oro dentro de sus 83,967 acres de concesiones. Los resultados destacados incluyen intersecciones de 5,9 g/t Au sobre 60 metros (incluyendo 9,3 g/t Au sobre 22,5 m) en el pozo AMD30 y 2,2 g/t Au sobre 99,9 metros en el pozo AMD50.
La compañía ha completado 69 perforaciones diamantinas totalizando 13,239 m en el área de descubrimiento New OKO, con 56 perforaciones dirigidas a la 'Main Shear'. Este descubrimiento se ubica a 10 km al norte de los recursos de oro existentes en el depósito Oko-Ghanie, que actualmente cuenta con 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.
G2 planea publicar una Estimación Actualizada de Recursos Minerales y Evaluación Económica Preliminar en el cuarto trimestre de 2025. Actualmente, la compañía tiene cinco equipos de perforación activos en el área de descubrimiento, demostrando su compromiso con una exploración agresiva de este prometedor sitio.
G2 Goldfields (OTCQX: GUYGF)는 가이아나에 위치한 신규 OKO 발견 지역에서 뛰어난 시추 결과를 발표하며, 83,967에이커의 광산 권리 내에서 세 번째로 중요한 금 발견을 기록했습니다. 주요 결과로는 AMD30 시추공에서 60미터 구간에 5.9 g/t Au (그중 22.5m 구간에 9.3 g/t Au)과 AMD50 시추공에서 99.9미터 구간에 2.2 g/t Au가 포함됩니다.
회사는 New OKO 발견 지역에서 총 13,239미터에 달하는 69개의 다이아몬드 시추공을 완료했으며, 이 중 56개는 'Main Shear'를 대상으로 했습니다. 이 발견은 기존 금 자원이 있는 Oko-Ghanie 광상에서 북쪽으로 10km 떨어진 곳에 위치하며, 현재 이 광상은 3.40 g/t Au의 지시 자원 150만 온스와 2.48 g/t Au의 추정 자원 160만 온스를 보유하고 있습니다.
G2는 2025년 4분기에 갱신된 광물 자원 추정치 및 예비 경제성 평가를 발표할 계획입니다. 현재 회사는 발견 지역에서 5대의 시추 장비를 가동 중이며, 이 유망한 지역에 대한 적극적인 탐사를 지속하고 있음을 보여줍니다.
G2 Goldfields (OTCQX : GUYGF) a annoncé des résultats exceptionnels de forage dans sa nouvelle zone de découverte OKO en Guyane, marquant la troisième découverte importante d'or de la société sur ses 83 967 acres de concessions. Les résultats remarquables incluent des intersections de 5,9 g/t Au sur 60 mètres (dont 9,3 g/t Au sur 22,5 m) dans le trou AMD30 et 2,2 g/t Au sur 99,9 mètres dans le trou AMD50.
La société a réalisé 69 forages diamantés totalisant 13 239 m dans la zone de découverte New OKO, dont 56 forages ciblant la 'Main Shear'. Cette découverte est située à 10 km au nord des ressources aurifères existantes du gisement Oko-Ghanie, qui détient actuellement 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.
G2 prévoit de publier une mise à jour de son rapport de ressources minérales et une étude économique préliminaire au 4e trimestre 2025. La société dispose actuellement de cinq foreuses actives dans la zone de découverte, témoignant de son engagement envers une exploration agressive de ce site prometteur.
G2 Goldfields (OTCQX: GUYGF) hat außergewöhnliche Bohrergebnisse aus seinem neuen OKO-Entdeckungsgebiet in Guyana bekannt gegeben und damit die dritte bedeutende Goldentdeckung des Unternehmens auf seinen 83.967 Acres umfassenden Liegenschaften erzielt. Herausragende Ergebnisse umfassen Abschnitte mit 5,9 g/t Au über 60 Meter (darunter 9,3 g/t Au über 22,5 m) im Bohrloch AMD30 sowie 2,2 g/t Au über 99,9 Meter im Bohrloch AMD50.
Das Unternehmen hat im New OKO Discovery Area 69 Diamantbohrlöcher mit insgesamt 13.239 m abgeschlossen, davon zielten 56 Löcher auf die 'Main Shear'. Diese Entdeckung liegt 10 km nördlich der bestehenden Goldressourcen im Oko-Ghanie-Lagerstätte, die derzeit 1,5 Millionen Unzen angezeigte Ressourcen mit 3,40 g/t Au und 1,6 Millionen Unzen vermutete Ressourcen mit 2,48 g/t Au umfasst.
G2 plant, im vierten Quartal 2025 eine aktualisierte Mineralressourcenschätzung und vorläufige Wirtschaftlichkeitsbewertung zu veröffentlichen. Das Unternehmen betreibt derzeit fünf Bohrgeräte im Entdeckungsgebiet und zeigt damit sein Engagement für eine aggressive Erkundung dieser vielversprechenden Lagerstätte.
- Best drill holes to date with exceptional high-grade gold intersections (5.9 g/t Au over 60m)
- Broad zones of gold mineralization discovered up to 150m vertical depth
- New discovery located 10km from existing substantial gold resources (3.1M oz total)
- Five drill rigs actively operating, showing strong operational momentum
- Upcoming catalyst with Resource Estimate and PEA in Q4 2025
- Some drill holes showed no significant intercepts (AMD26, AMD32)
- Scout drilling at parallel shear structures had limited success
- True widths are estimated between 49% and 93% of reported down-hole widths
- Drilling intersects broad zones of high-grade gold mineralization down plunge of original Discovery Zone
- High grade intersections include:
- AMD30 – 5.9 g/t Au over 60 metres (m) including 9.3 g/t Au over 22.5m
- AMD50 – 2.2 g/t Au over 99.9m including 5.5 g/t Au over 25.5m
- AMD37 – 3.0 g/t Au over 51.0m including 6.3 g/t Au over 10.5m
- Five drill rigs active in the Discovery Area
- Updated Mineral Resource Estimate (MRE) and Preliminary Economic Assessment (PEA) anticipated in Q4 2025
TORONTO, July 15, 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 and June 9, 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 have been delineated north of existing resources along a 15km trend.
Figure 1 — Plan View of District Target Areas
G2 has completed 69 diamond drill holes totalling 13,239m in the New Oko Discovery Area, where 56 of these holes targeted the ‘Main Shear’. This release provides assay results for 25 drill holes (AMD26 to AMD50 inclusive) totalling 4,113m, of which, 17 holes targeted the Main Shear Zone. Complete results for all 25 holes are available here and results for the holes targeting the Main Shear are contained within Table 1 below.
Table 1 – Select Assay Results from New OKO Discovery
| DRILL HOLE | FROM (METRES) | TO (METRES) | INT. (METRES) | GRADE (G/T AU) | GRADE X DH WIDTH | |
| AMD26 | No significant intercept. | |||||
| AMD27 | 77.0 | 80.0 | 3.0 | 1.0 | 2.9 | |
| AMD27 | 90.5 | 93.5 | 3.0 | 3.4 | 10.1 | |
| AMD29 | 23.5 | 34.0 | 10.5 | 0.6 | 6.7 | |
| AMD30 | 80.5 | 82.0 | 1.5 | 1.8 | 2.7 | |
| AMD30 | 90.0 | 150.0 | 60.0 | 5.9 | 351.2 | |
| INCL. | 127.5 | 150.0 | 22.5 | 9.3 | 209.0 | |
| AMD32 | No significant intercept. | |||||
| AMD34 | 103.5 | 111.0 | 7.5 | 3.2 | 24.0 | |
| AMD35 | 73.5 | 105.5 | 32.0 | 0.4 | 11.9 | |
| AMD37 | 83.5 | 134.5 | 51.0 | 3.0 | 150.5 | |
| INCL. | 89.5 | 100.0 | 10.5 | 6.3 | 66.3 | |
| AMD38 | 118.0 | 132.0 | 14.0 | 1.1 | 16.1 | |
| AMD38 | 153.0 | 185.0 | 32.0 | 0.4 | 13.2 | |
| AMD41 | 33.0 | 75.0 | 42.0 | 2.2 | 93.8 | |
| INCL. | 33.0 | 37.5 | 4.5 | 9.3 | 41.9 | |
| AMD42 | 183.0 | 236.0 | 53.0 | 0.5 | 26.2 | |
| AMD44 | 72.5 | 75.5 | 3.0 | 1.0 | 2.9 | |
| AMD45 | 168.0 | 206.5 | 38.5 | 0.6 | 21.3 | |
| AMD46 | 128.0 | 129.5 | 1.5 | 0.5 | 0.8 | |
| AMD48 | 18.5 | 21.0 | 2.5 | 0.6 | 1.6 | |
| AMD48 | 46.0 | 65.5 | 19.5 | 0.6 | 11.7 | |
| AMD49 | 62.5 | 64.0 | 1.5 | 1.1 | 1.7 | |
| AMD49 | 207.0 | 227.0 | 20.0 | 1.1 | 22.2 | |
| AMD50 | 52.5 | 152.4 | 99.9 | 2.2 | 224.4 | |
| INCL. | 74.0 | 99.5 | 25.5 | 5.5 | 141.3 | |
Notes to Table 1: Intercepts reported are down-hole widths. True widths are estimated between
Discussion of Results
Drilling is primarily focused on exploring for gold mineralisation down-plunge of previously reported near surface gold intercepts. Broad zones of gold mineralisation were intercepted at vertical depths of up to 150m, with a distinct high-grade zone of mineralisation encountered in the south-western portion of the 700m long zone.
Figure 2 – Long Section of New OKO Discovery
Holes AMD37 (51m @ 3 g/t Au) and AMD30 (60m @ 5.9 g/t Au) explored for down-plunge mineralisation intersected in near surface prior holes AMD10 (51m @ 1.1 g/t Au) and AMD12 (43.7m @ 1.9 g/t Au), respectively. Both holes returned significant zones of high-grade mineralisation between vertical depths of 80m and 150m. In particular, hole AMD30 intersected a very significant zone of high-grade gold mineralisation which assayed 9.3 g/t Au over a core length of 22.5m. Photographs of whole core with individual assays of this high grade zone are available at the following link.
Holes AMD41 (42m @ 2.2 g/t Au) and AMD50 (99.9m @ 2.1 g/t Au) intercepted true widths of gold mineralisation not dissimilar to that found in respective up-plunge prior holes AMD10 (51m @ 1.2 g/t Au) and AMD15 (50.5m @ 1.1 g/t Au). AMD41 and AMD50 returned grades at almost double the grade of the original holes.
Figure 3 – Oblique View of New OKO Discovery
New drill holes in the north-eastern portion of the New OKO Discovery returned significant intercepts of low-grade mineralisation similar in tenor to up-plunge intersections. Scout drilling at mapped parallel shear structures had limited success, with hole AMD31 returning 1.1 g/t Au over 7.5m and hole AMD40 intersecting 1.4 g/t Au over 4.5m as well as 3.8 g/t Au over 1.5m. These intersections are approximately 500m north of the New OKO Discovery and require further work.
Figure 4 – Plan View of New OKO Discovery
Boaz Wade, VP Exploration, commented “This round of drilling, which was aimed at targeting higher grade zones, has delivered the two best down-hole intercepts on the New Oko Discovery to date. The other drill holes indicate continuity of mineralization within a plunging high-grade shoot as well as along strike in the broader shear structure. Extensions to the high-grade zone intersected by holes AMD30 and AMD50 will be part of the target areas for the next phase of drilling as we aim to aggressively advance exploration on this discovery with multiple drill rigs.”
Dan Noone, CEO, added: “These are some of the best holes drilled in the region to date. Near surface, high-grade hits like these bode well for our upcoming mineral resource estimate expected in early Q4 2025 - the Company’s fourth resource estimate in the last three years - as well as a Preliminary Economic Assessment (PEA) expected in Q4 2025.”
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 multiple gold targets delineated north of existing resources along a 15km trend, the new Oko surface discovery remaining open, the mineralization and mineral resource estimates in respect of the Company’s properties, an updated MRE and PEA and the anticipated timing thereof. 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 May 31, 2024. 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.
Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/af128ef1-fd01-448a-ba49-47abb931e9bb
https://www.globenewswire.com/NewsRoom/AttachmentNg/a8b83392-de9f-4eff-ad57-7262c84350b7
https://www.globenewswire.com/NewsRoom/AttachmentNg/1357bc9f-25fc-4a1d-839f-b081f78af0c8
https://www.globenewswire.com/NewsRoom/AttachmentNg/ffd332d5-2079-4acb-a55a-528640a7e855
A pdf accompanying this announcement is available at:
http://ml.globenewswire.com/Resource/Download/ca174035-9957-40a1-8105-433f76857ef3
FAQ
What were the best drill results from G2 Goldfields' (GUYGF) New OKO Discovery?
How many ounces of gold resources does G2 Goldfields currently have at Oko-Ghanie Deposit?
When will G2 Goldfields (GUYGF) release its updated resource estimate and PEA?
How many drill holes has G2 Goldfields completed at the New OKO Discovery Area?
What is the size of G2 Goldfields' exploration rights in the OKO-AREMU district?
