Onkoshi Gold Project

Project

Onkoshi Gold Project

HIGHLIGHTS/SUMMARY

  • Covers highly prospective areas of the Damara Mobile Belt for Gold
  • Significant similarities to B2Gold’s Otjikoto and Wolfshag deposits.
  • Historic drill testing with encouraging Gold results;
    • 9.53g/t over 11m (ERRC19) | 5.54g/t over 12.35m (ERD2) | 3.09g/t over 12.35m (ERRC25)

  • Mineralization is highly magnetic and conductive.
  • Interpreted combined strike length in the order of 5.5 km
  • Numerous Gold anomalies (soil and rock grab samples).
    • Recent work has delineated open-ended mineralization, supported by coincidental EM and IP anomalies (2004, Helio Capital Corporation NI 43-101*)

  • Onkoshi Gold Project (historically Erindi and Vredelus Au projects) is considered to rank as one of the best gold targets in Namibia, arguably alongside the B2Gold’s Otjikoto deposit (2004, Helio Capital Corporation NI 43-101*)

Historical Results and Drill Intercepts

Figure 1: Historical Drill Intercepts ERD9, ERD4 and ERRC25
Figure 1: Historical Drill Intercepts ERD9, ERD4 and ERRC25
Figure 2: Historical Drill Intercepts ERRC 1, ERRC 2 and ERD 5
Figure 2: Historical Drill Intercepts ERRC 1, ERRC 2 and ERD 5

SIGNIFICANT EXPLORATION POTENTIAL EXISTS WHICH INCLUDES:

  • Limited historical work over the entire strike extent which offers immediate exploration targets.
  • Numerous significant Gold in rock and Gold in soil anomalies were not followed up with any additional exploration work.
  • Historical Gold detection limits were in the order of 20 ppb and potential Gold mineralisation with a expression of less than 20 ppb would not have been delineated by the historical sampling campaigns.
  • Only 500m of the 5,5km has been drill tested to-date.
  • Mineralization on Onkoshi has been shown to be conductive and magnetic and is therefore suitable for detection by both magnetic and electrical geophysical survey techniques.

FORWARD WORK PROGRAM

  • Environmental Clearance Application and Land Access Agreements (ongoing)
  • Ground truthing on Gold in soil and rock anomalies (Q3 2022)
  • Geophysical surveys and Drill Target generation (Q3/Q4 2022)
  • Drill testing (Q3/Q4 2022)
Figure 3: Historical Exploration: Rössing Uranium 1987 -1993
Figure 4:Geophysical Overview Map (RTP 1VD) prospective remnant magnetic anomalies, with a combined strike length of 5.5 km
Figure 4:Geophysical Overview Map (RTP 1VD) prospective remnant magnetic anomalies, with a combined strike length of 5.5 km
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