Osino Resources Confirms Third Zone of Gold Mineralization at Twin Hills Gold Project, Karibib, Namibia

  • Shallow percussion drilling confirms a third zone of bedrock gold mineralisation over a strike length of 1km at Twin Hills West. This new zone is 1.5km to the west of the Twin Hills Central mineralization announced in April 2019.
  • The total aggregate strike of confirmed bedrock mineralization at Twin Hills is now 3.6km, within an anomalous surface gold trend of 11km. The confirmed mineralization includes 1.6km of strike at Twin Hills Central, 1km at Twin Hills West as well as 1km of low grade gold mineralization at Twin Hills East.
  • A total of 142 vertical holes were drilled on 6 lines at 25m spacing for 4,662m.
  • A maximum gold grade of 2.68g/t was recorded on the westernmost line which is open to the west and south.
  • Diamond drilling is currently underway at Twin Hills Central along with additional shallow percussion drilling to test geochemical and magnetic anomalies, as well as the open mineralization in the southwest part of the Twin Hills Camp.

VANCOUVER, British Columbia, July 25, 2019 (GLOBE NEWSWIRE) — Osino Resources Corp. (TSXV: OSI) (FSE: RSR1) (“Osino” or “the Company”), is pleased to confirm a new zone of bedrock gold mineralization over a strike length of 1km at the Twin Hills West target, Twin Hills Gold Project, Namibia.

The Twin Hills Project has grown from an initial small soil anomaly to a total of 11km in strike length, most of which is covered by calcrete. The Project now comprises a number of surface gold anomalies which lie along the regional scale Karibib Fault. The first anomalies were discovered by Osino in 2017.

The Project has now been divided into three sectors, namely Twin Hills East, Central and West. Osino has secured a total length of 70km of the Karibib Fault Zone under exclusive exploration license and is systematically exploring along the entire trend.

Twin Hills West Shallow Percussion Drill Program

Approximately 4,660m of shallow percussion drilling was completed over the Twin Hills West targets during April/May 2019, with assay results recently received. The Twin Hills West calcrete anomaly was defined by calcrete sampling and ground magnetic anomalies (refer to news release dated April 23, 2019).

The anomalous calcrete gold anomaly was recently followed up with a shallow percussion drill program which confirmed a coincident bedrock gold anomaly of 1km in strike length, with values up to 2.68g/t Au and open to the south and west.

The percussion holes were drilled vertically through the calcrete cover to sample the top of the bedrock beneath. The average depth of the calcrete layer in this area is 20m.

The current bedrock sampling program follows the success of the first round of shallow percussion drilling at Twin Hills Central, where a bedrock anomaly with values up to 2.3g/t was discovered (see New Release dated 23 April 2019).

The objective of the ongoing shallow percussion drilling exercise is to test a number of geophysical and geochemical anomalies associated with the Karibib Fault Zone in the Twin Hills area. A recently initiated and ongoing diamond drill program is designed to test the Twin Hills Central bedrock anomaly and to provide further structural and lithological data down to a depth of 200m.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/0fce05ae-3d62-42df-9f5b-61eca509dd3f

Dave Underwood, Osino’s VP Exploration commented: “The latest bedrock results confirm significant gold mineralization at Twin Hills West, in addition to the previously discovered Twin Hills Central and Twin Hills East mineralization. We are encouraged and excited by the growing scale and increasing geological confidence in the Twin Hills Gold Project. The current diamond drill program will give us a much better geological and structural understanding of the central part of the system by delivering high quality, orientated core down to 200m. Assay results for the core are expected to start coming back from the laboratory in early August 2019”.

Further Drilling Planned for Twin Hills

A diamond drill program of six holes for a total of 1,200m is currently underway on the bedrock mineralization at Twin Hills Central. In addition, a further 1,300m of shallow percussion drilling will be carried out during July to sample bedrock at the Clouds anomaly and the open ended mineralization at Twin Hills West (refer to Figure 1 above).

The highest values at the southwest end of the Twin Hills Project are off the magnetic anomaly which may indicate a different, non-magnetic phase of mineralization.

Qualified Person

The technical information in this news release has been reviewed and approved by David Underwood, a Chartered Professional Geologist (SACNASP), and a Qualified Person for the purposes of National Instrument 43-101.

Quality Assurance

All Osino sample assay results have been independently monitored through a quality assurance/quality control (“QA/QC“) program including the insertion of blind standards, blanks and field duplicate samples. QA/QC samples make up 10% of all samples submitted. Bedrock samples are prepared at Actlabs sample prep facility in Windhoek, Namibia. The rock is dried, crushed to 95% -10mesh, split to 250g and pulverised to 95% -150mesh. Sample pulps are sent to Ontario, Canada for analysis. Gold analysis is by 30g fire assay with AA finish and automatically re-analysed with Gravimetric finish if Au >5 g/t. Calcrete samples are prepared at Intertek Analysis, Johannesburg, South Africa. Samples are dried, crushed to ~10mm and pulverised (300g up to 1.2kg). A split of 120g is shipped to the Intertek Analysis laboratory in Perth, Australia. Samples (10g) are leached in cyanide for 24 hours and analyzed for gold using ICPMS with an ultra-low detection limit of 0.01ppb. Additional elements analyzed are Ag, Cu and As.

About Osino Resources

Osino is a Canadian gold exploration company, focused on the acquisition and development of gold projects in Namibia. Osino is targeting gold mineralization that fits the broad orogenic gold model. We are actively advancing a range of gold discoveries, prospects and targets across our 7,400km2 ground position by utilizing a portfolio approach geared towards discovery. Our 22 exclusive exploration licenses are located within Namibia’s prospective Damara mineral belt, mostly in proximity to and along strike of the producing Navachab and Otjikoto Gold Mines.

Osino’s focus in 2019 is on further advancing the Twin Hills and Goldkuppe discoveries within the developing Karibib Gold District, testing our Otjikoto East and Otjiwarongo targets and generating new ones on our remaining licenses. Our core projects are favorably located north-west of Namibia’s capital city Windhoek. By virtue of their location, the projects benefit significantly from Namibia’s well-established infrastructure with paved highways, railway, power and water in close proximity.

Namibia is mining-friendly and lauded as one of the continent’s most politically and socially stable jurisdictions. Osino continues to evaluate new ground with a view to expanding its Namibian portfolio.

Further details are available on the Company’s website at https://osinoresources.com/

Osino Resources Corp.
Heye Daun: CEO
Tel: +27 (21) 418 2525
[email protected]

Julia Becker: Investor Relations Manager
Tel: +1 (604) 785 0850
[email protected]

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

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