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Osino Resources completes first phase of Karibib drilling, commences new program at Otjiwarongo

Published: 17:06 20 Aug 2019 BST

Osino Resources - Osino Resources completes first phase of Karibib drilling, commences new program at Otjiwarongo
Osino drilled nearly 1,450 metres at Karibib

Osino Resources Corp (CVE:OSI) updated investors Tuesday on the status of its drills turning in Namibia.

The junior explorer said it had completed the first phase of its 2019 drill program at the Karibib gold project and commenced a shallow program at the Etekero target on the Otjiwarongo regional project in the southern African country.

At Karibib, drilling focused on the Twin Hills gold target. The program comprised seven holes and around 1,450 metres of core drilling over a total strike length of 1,200 metres.

READ: Osino Resources reveals new gold mineralization at Twin Hills in Namibia

Vancouver-based Osino also completed a bedrock and calcrete sampling program along the Karibib trend southwest of Twin Hills.

Etekero, in northeastern Namibia, is part of Osino’s Otjiwarongo Regional project. After a short bedrock sampling program on the target, Osino will shift the percussion drill rig to the Otkikoto East project to test a number of gold anomalies that were uncovered through a previous exploration program.

Calling the completion of the first round of diamond and shallow percussion drilling in the Karibib area is a “significant milestone” for the company, Osino’s vice president of exploration Dave Underwood commented: “Our regional surface and calcrete sampling programs during 2017 and 2018 resulted in the discovery of the large Twin Hills gold system.

“We have now proven the existence of gold mineralization in bedrock below the thick calcrete cover and look forward to receiving initial width and grade data from the diamond drill assays. These are exciting times for the company and we look forward to releasing a steady stream of results over the next couple of months.”

Osino has 22 prospecting licenses in Namibia’s Damara mineral belt, most of which are in close proximity to the producing Navachab and Otjikoto gold mines.

Shares of Osino eased 2.2% on Tuesday morning at C$0.45.

Contact Angela at angela@proactiveinvestors.com

Follow her on Twitter @AHarmantas

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