Osino posts best exploration results at Ondundu yet
By Freeman ya Ngulu.
At its Ondundu project in Namibia, Osino Resources has recorded the finest gold drill intercept in the company’s history.
According to mining analyst Ryan Walker of Echelon Capital Markets in a letter to clients, the results show potential for resource expansion and grade improvement.
Walker added, “We would add that further drilling of the new zone should yield both additional gold ounces and improve resource grading through the conversion of material previously labelled as unmineralized, despite the low average grade seen from the two scissor holes.”
Since 1917, when Namibia was still a German colony, numerous operators have been mining and exploring the Ondundu gold mine, which is Namibia’s oldest known gold resource.
900,000 oz. of gold are contained in 26 million tonnes grading 1.13 grams per tonne at Odundu. On 21 July 2022, Osino completed the purchase of Ondundu from B2Gold.
The deposit, according to Osino, is noted for its coarse and nuggety gold mineralization, which results in a narrow band of high-grade gold intersections that are difficult to predict but have potential for growth.
The most recent findings show a weighted average grade of 1.57 grams of gold per tonne over an average width of 44.2 meters, which compares favourably to the project’s original resource, announced in October 2022.
At the project’s Razorback target, the highlight intercept was a part of a 3,148-metre, 15-hole reverse-circulation infill and scissor drilling programme. The findings contributed additional information to a deposit that B2Gold had previously examined in 2016.
The two scissor holes in the program were dug in the opposite direction to examine the occurrence and grade of quartz veins that crossed mineralization east of the existing resource and ran perpendicular to the main deposit. In addition, hole OND022-225 hit a new zone of low-grade mineralization within the resource pit shell that had previously been categorized as waste. Hole OND022-226 recovered 16 meters at 2.66 grams of gold per tonne from a depth of 73 meters.
It has been shown the deposit is amenable to gravity concentration by metallurgical test work completed in 2022. A low volume, high-grade gravity concentrate from the project might be processed at Osino’s 130-kilometre-distant Twin Hills gold development project, which is in the prefeasibility stage.
Walker anticipates receiving further information shortly from the company’s remaining seven reverse-circulation holes, which have yet to be reported, as well as information from additional discovery drilling to the east, once planned resource update drilling gets underway.