O2Gold Inc. announced that a second campaign of ground geophysics has increased the overall projected vein extensions and identified three new veins in the brownfield targets of Aparecida, Esmeralda, and Botella. The Company has completed 4,000 meters of drilling, which has yielded an average grade of 7.44 g/t Au in Aurora. The second campaign of ground geophysics totaled 8,400 linear meters of testing in Aparecida, Esmeralda, and Botella.

In Aparecida, the three N-S veins with confirmed gold mineralization were each extended by an average of 275 meters. Aparecida East, an as-yet-unknown vein whose mineralization needs to be confirmed with geochemistry and geological mapping, has a projected extension of 730 meters. In the Esmeralda brownfield, the projected extension of the main vein is now at least 450 meters.

This vein, with gold mineralization confirmed through geochemistry, was the source of an artisanal operation. Two parallel structures, one to the north and one to the south, each have a projected extension of at least 450 meters and need to be confirmed with geochemistry and geological mapping. In the Botella brownfield, geophysics increased the projected extension of Botella Nueva, the former source of an artisanal operation, to at least 650 meters.

Botella West, which has confirmed gold mineralization, now has a projected extension of at least 900 meters. Last week, O2Gold completed 4,000-meters in drilling. The first drill campaign, which began in August 2021, has focused on the Aurora, Quintanillo, and Aparecida brownfields.

The latest drill results from Aurora continue to prove the extension of the main vein, which is now 622 meters long with a maximum dip extension of 275 meters. Ground geophysics have projected at least 900 meters in extension. Hole AUR_011 intercepted the main vein 142 meters from the surface, with an apparent width of 90 centimeters with 6.38 g/t Au and 15.31 g/t Ag.

The main vein of Aurora has been intercepted 16 times, with at least two intersections every 100 meters on a regular grid; the highest grade has been 20.11 g/t Au and the lowest has been 0.1 g/t Au, with an unweighted average grade of 7.44 g/t Au. Additional results from exploratory drilling activities at Aurora, Aparecida, and Quintanillo are expected in the coming weeks, and the reopening of the old production tunnels that are in progress will allow the realization of bulk sampling for studies of grade variability.