Osino Resources Corp. is pleased to provide an update on Osino’s approved C$17m operating budget and finalized exploration and development work program for 2021. This fully funded exploration program will support resource definition and brownfields exploration drilling at Osino’s Twin Hills Gold Project, which includes the Twin Hills Central (“THC”) and newly discovered Clouds orebodies. The budget is geared towards supporting fast-tracked exploration and development study work culminating in the anticipated completion and publication of the NI 43.101 compliant maiden mineral resource estimate (MRE) and the preliminary economic assessment (PEA).
The Twin Hills gold project is located in north-central Namibia, where Osino holds a dominant 7,000 km2 land position. The large-scale, sedimentary-hosted and structurally controlled Twin Hills gold system was discovered by Osino in 2019.
Heye Daun, Osino’s CEO commented: “I would like to commend and thank our Namibian exploration team for their effort and exceptional drill performance achieved during 2021 thus far, having already drilled more than half of the meters Osino completed during all of 2020. It is already clear that during 2021 Osino will take another major step forward in its development cycle. The ongoing resource drilling
is confirming Twin Hills to be a very consistent orebody, which coupled with the shallow high grades at the recent Clouds discovery is making for a compelling and growing open pit gold mining opportunity. We especially look forward to receiving the initial brownfields exploration assay results, which are the first exploration holes ever drilled into the large Twin Hills gold system outside of THC, Clouds and Twin Hills West. Any significant gold mineralization received here will further enhance our growth story and will immediately be followed up with further drilling.”
Regional target generation and validation work has also resulted in a ranked portfolio of regional greenfields targets within Osino’s substantial land package outside of the Twin Hills/Karibib district. Geological mapping, detailed structural analysis, geochemical soil and bedrock (RAB) sampling leading to exploration drilling forms part of Osino’s regional exploration strategy for 2021.
Twin Hills Resource Definition and Exploration Drilling
During 2020 Osino drilled approximately 51,000m of mainly resource drilling (infill and step-outs) at THC and Clouds. This drilling was completed at 50m x 50m spacing across most of THC to an average depth of approximately 200 – 300m drill depth, at 60-degree inclination.
An additional 15,000m of resource drilling was completed at THC and Clouds up to February 2021, for a total of approximately 66,000m of predominantly diamond drilling (DD). This comprises the basis for the MRE and subsequent PEA.
