Point Roberts, WA and Delta, BC – September 22, 2021 (Investorideas.com Newswire) Investorideas.com, a global investor news source covering mining and metals stocks releases today’s edition of Exploring Mining Podcast, featuring an exclusive interview with management of O2Gold Inc. (TSXV:OTGO), a mineral exploration company with activities in Colombia.
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Exploring Mining Podcast – Management of Colombian Miner O2Gold (TSXV: OTGO.V) Discuss Drill Results
Investorideas.com caught up with Jaime Nicholas Lalinde and Mateo Hernandez, upper management at O2Gold Inc. (TSXV:OTGO) (FRA: 6210.F), to speak about the company’s recent press release regarding its first drill hole at the Aurora Tunnel in Colombia, as well as the wider potential of its land package.
The press release indicates that drill hole AUR-21-001 yielded the following results: 1.6 m @ 9.19 g/t Au and 1.89 g/t Ag from 97.4 m, including 0.7 m @ 20.11 g/t Au and 3.30 g/t Ag @ 97.4 m. Lalinde explained that these early results already bode well in comparison to regional averages.
“This is just the results from our first hole, but to find the productive vein of the Aurora Tunnel exactly where we expected it to be, is a great indication for all of the geophysics and exploration work we’ve done up until now,” he said. “20 grams per tonne is obviously an incredible grade. For a bit of context, the regional grade, region-wide…is about 6-7 grams per tonne. And the [average] regional vein width is about 40-60 cm, so we are, by a large margin, surpassing what are considered averages in an area that is extremely gold rich to begin with.”
Addressing the mine’s production potential, Mateo Hernandez explained the company’s options given factors such as its large land package.
“Depending on how we want to structure our mining plan over a ten year period, we could be talking about 30-50,000 ounces per year if we structure it linearly,” he said. “If we want it to be larger, ounces mined per year would decrease.”
“We expect that in the next month and a half we’re going to be working actively in the tunneling, and preparing for production on a lesser scale, then start ramping up once we have a clear indication of resources and a feasible mining plan.”
Owing to its being in Colombia, O2Gold, Inc. anticipates more regular updates than its North American counterparts, according to Lalinde.
“We had these first results, in twelve days I believe, so we expect to have all additional results on this two week timeline,” he said. “For perspective, in North America the lead time on drill core assay analysis is as little as 30 and as many as 90 days. That is an absolute killer for a junior exploration company that lives by the results that it can show.”
AUR-21-001 was the first hole drilled for the company’s planned 8,000 metre campaign. Lalinde indicated that, though this is not the most extensive planned campaign, its precision can yield promising results.
“8,000 metres is maybe not a lot – that’s what we have planned for this year – but 8,000 metres put in the right places can be a lot,” he said. “There are peers in the region that have started defining 1.5-2 million ounce deposits based on 4-6,000 metres of drilling. So it is possible for us to arrive at what we think is there by the end of the year, but what we know for sure is that the news will continue to come from here through December with drill core assays and with the progress and good news of the ongoing campaign.”
Hernandez too spoke about the abundance of potential present in the property’s other regions.
“This type of mining in this region, and its high-grade veins can be replicated across the property at a lesser CapEx than doing a full scale exploration of another deposit,” he said. “And it’s feasible to start small-scale mining in other portions as well.”
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