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Osino Resources defines new, large-scale gold target at Karibib project

Drilling on this target will begin in the second quarter of 2019, the group said

Namibian landscape
The project (not pictured) is in Namibia

Osino Resources Corp (CVE:OSI)(OTCMKTS:OSIIF) has unveiled more positive exploration findings from Namibia, including a new large scale, well-defined, drill-ready gold target at its Karibib project, sending shares higher.

The latter was found via in-fill sampling at the Twin Hills gold prospect and has been named the Twin Hills Central target. It is 3,000m (meters) along strike and 300m (meters) wide.

READ: Osino Resources reveals drilling at Goldkuppe project extends mineralization by 2km to the southwest

Drilling on this target will begin in the second quarter of 2019, the group said.

Osino's Karibib project lies 130 km north-west of Namibia’s capital city Windhoek.

Meanwhile, the company also noted that last year, it had decided to test sample the continuation of the Karibib Fault towards the south west in a bid to define further gold targets.

A rotary air blast (RAB) was used for the sampling and all the assays have now been received and interpreted.

In addition, surface calcrete samples were collected along the contact between schist and marble to the south and south west of Twin Hills.

These programs produced four new gold anomalies which will be ground checked and followed up with bedrock sampling starting in the second quarter of 2019, the firm said.

High priority target

"We have now defined a high priority drill target under cover at Twin Hills Central and are looking forward to getting the drill rigs on site. We will also be developing the new targets along the Karibib Fault with an aggressive follow-up program starting later this month," said Heye Daun, Osino's CEO.

The firm also noted that with its recent acquisition of the 55,000ha (hectare) Kranzberg license, Osino had significantly increased the area under control further to the south west and it is now in a position to extend exploration along this emerging gold trend.

Sampling in this area has already started.

In Toronto, Osino shares added nearly 15% to $0.39 each.

Contact Giles at [email protected]

Follow him on Twitter@Gile74

Quick facts: Osino Resources

Price: 1.13 CAD

Market: TSX-V
Market Cap: $96.41 m

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Full interview: Osino Resources makes new gold discovery at their Twin Hills...

Osino Resources (CVE: OSI) Founder and CEO Heye Daun joined Steve Darling from Proactive Vancouver on Skype from South Africa with news the company has made a gold discovery at their project in Namibia. Osino releasing drill results from the Twin Hills Central area of the claim.   Daun...

on 27/8/19

2 min read