Osino Resources Extends Gold Mineralisation Strike Length and Receives Further Assays on Twin Hills Discovery

  • Assays have been received for the final three diamond drill holes OKD005, 006 and 007
  • These results extend the strike length of gold mineralisation to 800m, open to both east and west
  • Hole OKD007 contains several mineralised intercepts including:
    • 17m @ 2.17g/t Au (116 – 133m), 11m @ 1.76g/t Au (165 – 176m), 6m @ 1.29g/t Au (182 – 188m), 7m @ 1.10g/t Au (16 – 23m) and 3m @ 2.73g/t Au (87 – 90m)
  • Highest individual meter assays include 15.2, 5.84 and 4.91g/t Au
  • Previously reported intercepts from the seven hole diamond drill program include:
    • OKD001 – 104m @ 0.70g/t Au (from 115m), incl. 10m @ 1.27g/t and 20m @ 1.11g/t
    • OKD002 – 189m @ 0.69g/t Au (from 21m), incl. 14m @ 1.14g/t, 7m @ 1.42g/t
    • OKD003 – 78m @ 0.64g/t Au (from 91m) including 23m @ 1.01g/t
    • OKD004 – 65m @ 1.37g/t Au (from 16m), incl. 31m @ 2.2g/t (42-73m)
  • Assays are still outstanding for hole extensions drilled at OKD001 and 2 which both ended in mineralisation
  • Holes OKD005 and 6 intersected minor amounts of mineralisation and appear to be north of the main mineralised zone

VANCOUVER, British Columbia, Sept. 26, 2019 (GLOBE NEWSWIRE) — Osino Resources Corp. (TSXV: OSI) (FSE: RSR1) (“Osino” or “the Company”), is pleased to announce the release of further diamond drill results from the Phase 1 drill program carried out at Twin Hills Central, Karibib Gold Project, Namibia.

Assays have now been received for the last three diamond drill holes at Twin Hills Central, OKD005, 6 and 7 and are tabulated below (refer to Table 1). Results are still outstanding for the down hole extensions to holes OKD001 and 002 which both ended in mineralisation.

Dave Underwood, Osino’s VP Exploration commented: “The assays for hole OKD007 extend the gold mineralisation at Twin Hills Central to 800m in strike length so far, with the system remaining open along strike to the east and west as well as down dip. The Phase 1 drill program has been a resounding success with five of the seven holes intersecting significant mineralisation. Logging and structural interpretation to date indicates that there is a higher-grade zone along the southern margin of Twin Hills Central, intersected in holes OKD004 and 7, within a lower grade envelope over 100m wide in places. The gold mineralisation is associated with sheeted quartz veinlets within a tightly folded greywacke unit. The next phase of drilling will focus on increasing the strike length and following the high grade zones at Twin Hills Central in addition to testing other Twin Hills targets.”

Hole OKD007 extends the gold mineralisation to the east by 400m and brings the current strike length to 800m. (Refer to Figure 1 below and also described in a news release dated September 3, 2019). The mineralisation intersected appears to be the eastern strike continuation of the higher-grade zone in OKD004.

Hole OKD007 ended in mineralisation and a further hole will be drilled to the south in the next round of drilling with the objective of intersecting the full width of higher-grade mineralisation seen in OKD004.

Holes OKD005 and 6 were both drilled on the northern end of the drill fence lines and appear to define the northern limit of the mineralisation in the area (refer to Figure 1 below).

Table 1: Summary of Significant Intercepts for Phase 1 Diamond Drilling at Twin Hills Central
Hole ID From (m) To (m) Width (m) Au (g/t) X UTM 33S Y UTM 33S
OKD001 115 219 104 0.70 600243 7584653
incl. 115 125 10 1.27    
incl. 199 219 20 1.11    
OKD002 21 210 189 0.69 600274 7584554
incl. 106 120 14 1.14    
incl. 190 197 7 1.42    
incl. 205 210 5 1.43    
OKD003 91 169 78 0.64 600615 7584795
incl. 93 116 23 1.01    
OKD004 16 81 65 1.37 600648 7584703
incl. 42 73 31 2.20    
OKD005 178 180 2 2.38 600200 7584746
OKD006 105 106 2 1.53 600992 7584949
  160 168 8 0.80    
OKD007 16 23 7 1.10 601023 7584860
  87 90 3 2.73    
  116 133 17 2.17    
  165 176 11 1.76    
  182 188 6 1.29    

The diagram below indicates the location of the 7 Phase 1 diamond drill holes and significant assays received since completion of the program during August 2019. The seven holes were drilled at 60 degrees, with holes spaced 100m apart along fence lines spaced 400m apart.

Figure 1 is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/eb594943-9abe-47ae-a268-46a14efba0a5

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 duplicate samples. QA/QC samples make up 10% of all samples submitted. Logging and sampling are completed at Osino’s secure facility located in Omaruru near the Twin Hills Project. Drill core is sawn in half on site and half drill-core samples are securely transported to the Actlabs sample prep facility in Windhoek, Namibia. The core is dried, crushed to 95% -10mesh, split to 250g and pulverised to 95% -150mesh. Sample pulps are sent to Actlabs in 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. In addition, pulps undergo 4-Acid digestion and multi-element analysis by ICP-AES or ICP-MS.

About Osino Resources

Osino is a Canadian gold exploration company, focused on the acquisition and development of gold projects in Namibia. Our 22 exclusive prospecting 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 is targeting gold mineralisation that fits the broad orogenic gold model. We are actively advancing a range of gold discoveries, prospects and targets across our 6,700km2 ground position by utilizing a portfolio approach geared towards discovery.

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 and 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

Julia Becker: Investor Relations Manager
Tel: +1 (604) 785 0850

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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