OSIIF - Osino Resources Expands Twin Hills Central Strike Length to 1500M and Discovers New High-Grade Shoots Phase 2 Drilling Progressing Well

November, 12 2020 07:00 AM OSI Geospatial Inc.

118 holes ( 25,000m ) drilled at THC since August 2 020; 155 holes (33,300m) drilled to date
Highlights from the latest results include:
- 327m @ 0.76g/t (OKD058: 22 - 349m), incl. 94 m @ 1. 35 g/t
- 332 m @ 0. 82 g/t ( OKD0 22 : 67 - 399 m), incl. 57 m @ 2.08 g/t
- 149 m @ 1.12 g/t ( OK R 0 32 : 40 - 189 m) , incl. 60 m @ 1. 70 g/t
- 150m @ 0 . 89 g/t (OK R037 : 13 – 163 m) , incl. 15m @ 2.32g/t
- 2 31 m @ 0.6 4g/t (OKD074 : 16 – 247 m), incl. 2 0 m @ 1. 5 0g/t and 46m @ 1.00g/t
- 99m @ 0.87g/t (OKR080: 121 – 220m), incl. 8m @ 3.67g/t and 3m @ 5.15g/t
- 41m @ 1.52g/t (OKR057: 37 – 78m)
Significant increase in mineralized strike to 1,500m with depths up to 350m and widths up to 250m
Two n ew zone s of high - grade mineralization and down - dip continuity proven to 350m depth
Phase 2 drilling re- commenced with 8 drill rigs , compris ing ~ 67 holes for 20 ,000m to be completed by January 2021

VANCOUVER, British Columbia, Nov. 12, 2020 (GLOBE NEWSWIRE) -- Osino Resources Corp. (TSXV: OSI) (FSE: RSR1) ( OTCQB: OSIIF ) ("Osino” or “the Company”) , is pleased to provide an update on the resource drilling and exploration of Osino’s Twin Hills Central (“ THC ”) gold project in north-central Namibia, where the Company holds a dominant 7,000 km ² land position. THC is part of the large, sedimentary-hosted and structurally controlled Twin Hills gold system which was discovered by Osino in 2019.

Heye Daun, Osino’s President & CEO commented: “ The results of this year’s drilling have far exceeded our expectations and have further strengthened our conviction in Twin Hills Central ’s growing stature as Namibia’s next major gold deposit . The closely spaced drilling (50x50m collars ) demonstrates excellent continuity of mineralization along strike , down dip and towards the north-east where we have discovered an unexpected but welcome , shallower zone of mineralization. Hole OKR080 on the north side is particularly exciting as it intercepted high grade in a new shoot (8m @ 3.67g/t) and ended in another high - grade intercept of 3m @ 5.46g/t. There have also been several mineralized holes in the gap between the west ern and east ern lobes (including two with shallow higher grade) in an area previously thought to be barren. We are accordingly putting in place the manpower and infrastructure to be able to expand our drilling rate next year beyond the currently used 8 rigs. This will enable us to fast-track the development drilling whilst at the same time expanding brownfields exploration and target testing to make new discoveries.”

Twin Hills Central Resource Drilling

In-fill and step out drilling to define a Maiden Resource Estimate (“ MRE ”) is underway at THC with five diamond and three RC drill rigs. The first phase of the MRE drilling (33,300m) was completed on October 11 ^th and after a short break the second phase (20,000m) commenced on October 27 ^th , to be completed by February 2021. As much as possible, but likely not all, of that drilling will be included in the 43.101 compliant resource estimate which Osino plans to publish before the end of Q1 2021.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/c6011a60-d32e-4164-b4de-925ffa57d20b

Drilling is being carried out on 50 x 50m drill spacing, covering the entire THC deposit, with drill depths of mostly 200m at 60 degrees inclination towards the south. Two deep holes (OKD058 and OKD022) were drilled towards the NNW (opposite to all the other holes) to test the continuity and down-dip extent of the mineralization and to see if there are other mineralizing structures not picked up in the rest of the holes.

Drilling on the western lobe of THC has defined a very wide, consistently mineralized zone vertically down to 350m and open to depth. Recent drilling indicates that the mineralization continues in a narrower zone along strike to the southwest.

The eastern lobe of THC has grown significantly since the previous news release, dated August 24, 2020. A new zone of high-grade gold to the north of the previously known mineralization was discovered with hole OKR080 (8m @ 3.67g/t). In addition, the eastern lobe has been expanded on strike by about 150m to the east along the strong IP anomaly and west into the gap between the western and eastern lobes, which was previously thought to be barren.

The gap between the east and West Lobes has been greatly diminished with the discovery of shallow high-grade mineralization in hole OKR056 (25m @ 2.00g/t) as well as the expansion of the East Lobe.

West Lobe

Assays received for the West Lobe (or what is sometimes referred to as the “bulge”) have confirmed and extended the unusual width and continuity of mineralization, which is exceptionally wide for an orogenic style deposit. It now has a maximum apparent width of 250m and is continuous down dip to beyond 300m (refer to Figure 2).

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/5c6b2eb1-84c8-4b75-a215-4416a818da02

The West Lobe also has a higher-grade core, which plunges towards the northeast and deeper holes confirm that this mineralization keeps going to depth in the northeasterly direction. In addition, recent drilling on the south western edge of this lobe indicates that a narrow zone of gold mineralization continues in this direction as well (refer to Figure 1). Phase 2 drilling will include further deep drilling to test the mineralization at depth and along strike to the west and northwest.

East Lobe

The East Lobe has mineralization up to 100m wide and 300m down dip, potentially going deeper as indicated on Figure 3 below. The grades in the East Lobe are generally higher than in the West Lobe and appear to be focused into narrower zones, although the style of mineralization and host rocks are the same.

The size of the East Lobe has increased substantially and has extended the strike extent of THC by 150m to the east and remains open along strike and depth. Recent drilling indicates that the mineralization continues to the east of the previously reported margin, along a strong IP anomaly which is visible in Figure 1.

Hole OKR080, which is the most northerly hole drilled on the East Lobe to date, intersected a previously unknown zone of high-grade mineralization (8m @ 3.67g/t) and also ended in high grade at 220m (3m @ 5.15g/t). Refer to Figure 4 above.

Additional drill holes have now been added to the north and east of the East Lobe for the Phase 2 drilling to be completed before February 2020.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/efd7ef82-1752-402a-b66d-0699757fae6e

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/2730cee0-f168-406d-900e-90ab8bf931e0

The Gap

The area between the West and East Lobes has had significant additional drilling since the previous news release dated August 24, 2020, and a number of mineralized intercepts have been returned including 25m @ 2.00g/t (OKR056) and 96m @ 0.74 incl. 18m @ 1.31g/t (OKR064).

The results to date indicate that the mineralization continues between the West and East lobes as a series of wider spaced zones. This augurs well for the development of a continuous large-scale pit over the entire THC strike length.

Drill Plan and Table of Significant Intercepts

Figure 5 below is a plan of all holes drilled and planned for the THC maiden resource estimate. The collars in blue with black center are completed holes that have assays outstanding. The holes planned for Phase 2 of the MRE drill program are shown as black squares.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/7daa4301-8467-435b-a47c-d6fc9f5bca48

Figure 5 : Plan of THC MRE drill program. Solid colors – assays received. Blue with black center – assays awaited. Black square – planned for Phase 2 November 2020 – January 202 1 .

The table on the following pages summarizes the significant intercepts received since the previous news release of drill assays from THC.

Table 1: Significant Intercept s for Drill Holes received since previous n ews r elease (August 24 )

Hole
From
To
Width
Grade
X
Y
DIAMOND DRILL HOLES
OKD022* ¹
67
399
332
0.82
601076
7584724
incl.


12
1.66


and


9
1.69


and


57
2.08


and


5
1.16


and


25
2.12


OKD052 ¹
6
23
17
0.85
601074
7584723
incl.


3
2.49


OKD055 ¹
166
246
80
0.85
601010
7584906
incl.
25
53
25
1.70


OKD058* ¹
22
349
327
0.76
600137
7584341
incl.


94
1.35


and


23
1.22


OKD064 ¹
25
58
33
0.50
601173
7584750
incl.


5
1.57


OKD066
No significant intercepts
599959
7584534
OKD067
No significant intercepts
601263
7584785
OKD068 ¹
152
257
105
0.70
600943
7584933
incl.


38
1.33


OKD070 ¹
159
201
42
0.84
601211
7584927
incl.


12
1.13


and


7
1.21


and


7
1.44


OKD072 ¹
118
159
41
0.76
601074
7584878
incl.


14
1.08


OKD074 ¹
16
247
231
0.64
600043
7584464
incl.


20
1.50


and


46
1.00


OKD075 ¹
205
241
36
0.53
600470
7584742
incl.


10
1.01


OKD076 ¹
29
34
5
0.53
600321
7584577
incl.
38
42
4
0.51


and
50
57
7
0.69


and
67
75
8
0.45


and
82
86
4
0.62


and
100
123
23
0.65


and
128
136
8
0.80


and
161
165
4
0.83


and
181
187
6
0.60


and
201
204
3
1.04


and
252
267
15
0.84


OKD077 ¹
120
317
197
0.51
600025
7584508
incl.


6
1.18


and


4
1.21


and


2
1.63


and


13
1.53


and


21
1.09


OKD079 ¹
78
252
174
0.56
600132
7584499
incl.


58
0.93


and


18
1.56


OKD080 ¹
200
233
33
0.96
601105
7584941
incl.


7
2.11


OKD081 ¹
138
303
165
0.76
600117
7584547
incl.


8
1.13


and


9
1.17


and


12
1.44


and


22
1.56


OKD083 ¹
183
348
165
0.67
600191
7584633
incl.


27
1.10


OKD084 ¹
170
204
34
0.77
600598
7584842
OKD085 ¹
246
275
29
1.00
601089
7584987
OKD086
No significant intercepts
601703
7585011
OKD087 ¹
96
139
43
0.63
600376
7584704
incl.


8
1.09


OKD088 ¹
116
131
15
1.15
600576
7584761
incl.
191
197
6
1.59


OKD089 ¹
125
131
6
1.03
601152
7584957
incl.
207
224
17
0.52


and
255
260
5
1.89


OKD095 ¹
165
167
2
0.84
601196
7584976
and
181
184
3
0.60


and
232
261
29
0.48


OKD100 ¹
24
255
231
0.65
600224
7584539
incl.


21
1.12


and


26
0.95


and


24
0.93


and


7
1.23


and


6
1.03



RC DRILL HOLES
OKR022 ¹
70
79
9
1.15
601106
7584782
OKR023 ¹
43
126
83
0.66
601045
7584813
Incl.


16
1.37


and


4
1.59


and


7
1.71


OKR024
No significant intercept
599962
7584378
OKR025 ¹
79
109
30
0.51
601090
7584831
OKR026 ¹
44
67
23
0.69
599983
7584333
and
93
103
10
0.60


OKR027 ¹
24
106
82
0.61
600072
7584369
incl.


20
1.35


and


7
1.07


OKR028 ¹
80
87
7
0.82
601137
7584844
incl.
101
105
4
1.11


OKR029 ¹
38
177
139
0.80
600056
7584413
incl.


40
1.04


and


23
1.45


and


7
1.75


OKR030 ¹
8
27
19
0.67
601125
7584738
incl.


3
1.40


and


3
1.05


OKR031
11
15
4
1.34
601024
7584695
OKR032 ¹
40
189
149
1.12
600147
7584456
incl.


60
1.70


OKR033 ¹
10
53
43
0.93
601010
7584744
incl.


12
1.61


OKR034 ¹
5
129
124
0.63
600991
7584791
incl.


14
1.47


and


4
2.20


and


6
1.45


and


2
3.01


OKR035 ¹
20
110
90
1.14
600168
7584406
incl.


55
1.37


OKR037 ¹
13
163
150
0.89
600976
7584836
incl.


15
2.32


and


13
1.45


and


23
1.23


and


5
2.34


OKR038 ¹
29
55
26
0.97
600231
7584379
OKR039
35
38
3
0.83
600276
7584402
OKR040 ¹
44
96
52
0.59
600260
7584445
incl.


9
1.06


and


6
1.46


OKR041 ¹
21
231
209
0.75
600242
7584500
incl.


7
1.97


and


15
1.15


and


70
0.91


OKR042 ¹
61
117
56
1.08
600943
7584776
incl.


10
1.92


and


15
1.34


and
132
145
13
0.63


OKR043 ¹
25
192
167
0.45
600244
7584488
incl.


6
3.20


OKR044 ¹
12
34
22
0.52
600910
7584700
Incl.
98
101
3
1.45


OKR045 ¹
12
82
70
0.90
600292
7584517
incl.


7
1.89


and


4
4.18


and


7
2.20


and
92
96
4
0.95


and
158
162
4
1.29


and
176
181
5
0.93


OKR046 ¹
6
92
86
0.70
600896
7584751
incl.


9
1.13


and


7
2.00


and


2
4.38


and


5
1.94


OKR047 ¹
105
135
30
0.99
600809
7584825
incl.


6
1.93


and


4
2.19


OKR048
No significant intercept
600325
7584417
OKR049
No significant intercept
600369
7584437
OKR050 ¹
63
74
11
0.47
600354
7584483
OKR051 ¹
14
128
114
0.54
600877
7584799
incl.


13
1.61


and


15
0.85


and


4
1.06


OKR052 ¹
27
51
24
0.70
600336
7584529
incl.


7
1.16


and


3
1.66


and
71
88
17
0.56


incl.


6
1.07


OKR053
24
28
4
5.57
600380
7584547
OKR054
26
29
3
1.38
600519
7584607
OKR055 ¹
18
47
29
1.16
600799
7584713
incl.


11
2.24


OKR056 ¹
27
52
25
2.00
600473
7584591
OKR057 ¹
6
14
8
0.87
600783
7584758
and
37
78
41
1.52


incl.


15
1.66


and


13
2.81


OKR059 ¹
71
78
7
0.86
600413
7584618
and
169
173
4
0.67


OKR061 ¹
32
43
11
2.15
600426
7584569
OKR062 ¹
61
126
65
0.70
600667
7584787
incl.


7
1.03


OKR063 ¹
42
60
18
0.70
601252
7584836
incl.


2
2.09


and
105
111
6
1.37


OKR064 ¹
54
150
96
0.74
600536
7584714
incl.


5
1.08


and


18
1.31


and


10
1.07


and


3
2.56


and


3
2.12


OKR065 ¹
113
211
98
0.7
600650
7584835
incl.


11
1.31


and


5
1.33


and


12
1.41


OKR066
83
85
2
0.80
600629
7584617
OKR067 ¹
155
218
63
0.65
601271
7584947
incl.


15
1.06


OKR068
87
90
3
1.28
600906
7584867
and
101
107
6
0.56


and ¹
155
214
59
0.94


incl.


9
2.28


and


11
1.54


OKR069 ¹
15
39
24
1.29
600701
7584696
incl.


5
3.88


OKR070 ¹
19
77
58
1.04
600609
7584665
incl.


10
1.62


and


12
1.41


and
91
98
7
1.14


OKR071 ¹
47
58
11
0.72
600859
7584848
and
65
71
6
0.77


and
116
152
36
1.04


incl.


7
1.83


OKR072 ¹
50
156
106
0.54
600749
7584852
incl.


7
1.09


and


6
1.13


and


12
1.01


OKR073 ¹
39
48
9
0.70
600344
7584636
and
61
86
25
0.44


and
93
102
9
0.57


and
132
140
8
0.62


and
159
186
27
0.62


incl.


5
122


OKR075 ¹
20
83
62
0.63
600547
7584668
incl.


3
1.41


and
103
105
2
2.15


OKR076
134
137
3
1.90
600686
7584882
and ¹
163
220
57
0.89


incl.


10
1.68


OKR077
61
65
4
0.77
600399
7584500
OKR078
35
38
3
1.98
601185
7584862
and ¹
121
151
30
0.61


incl.


8
1.13


OKR079 ¹
74
100
18
1.18
599933
7584314
OKR080 ¹
121
220
99
0.87
600776
7584923
incl.


8
3.67


and


3
5.15

* Reverse hole – drilled on azimuth of 340 degrees
¹ Unconstrained intersections – all intercepts above 0.4g/t reported
Notes: All reported intercepts are apparent widths rounded to the nearest meter. True widths are unknown at this stage. Total intercepts reported are unconstrained. Included intercepts are at 0.4g/t cut-off, minimum 2m wide and no more that 2m internal dilution. Collar positions are in UTM WGS84 surveyed by digital GPS .

Q ualified Person

David Underwood, BSc. (Hons) is Vice President Exploration of Osino Resources Corp. and has reviewed and approved the scientific and technical information in this news release, and is a registered Professional Natural Scientist with the South African Council for Natural Scientific Professions (Pr. Sci. Nat. No.400323/11) and a Qualified Person for the purposes of National Instrument 43-101.

Quality Assurance

All Osino sample assay results have been independently monitored through a quality assurance / quality control (" QA/QC ") program including the insertion of blind standards, blanks and duplicate samples. QA/QC samples make up 10% of all samples submitted. Logging and sampling is completed at Osino’s secure facility located in Omaruru near the Twin Hills Project. Drill core is sawn in half on site and half drill-core samples are securely transported to the Actlabs sample prep facility in Windhoek, Namibia. The core is dried, crushed to 90% -10mesh, split to 350g and pulverised to 90% -140mesh. Sample pulps are sent to Actlabs in Ontario, Canada for analysis. Gold analysis is by 30g fire assay with AA finish and automatically re-analysed with Gravimetric finish if Au >5g/t. In addition, pulps undergo 4-Acid digestion and multi-element analysis by ICP-AES or ICP-MS. RC drill samples are prepared at Actlabs sample prep facility in Windhoek, Namibia. The RC chips are dried, crushed to 90% -10mesh, split to 350g and pulverised to 90% -140mesh. Sample pulps are sent to Actlabs in Ontario, Canada for analysis. Gold analysis is by 30g fire assay with AA finish and automatically re-analysed with Gravimetric finish if Au >5g/t.

About Osino Resources

Osino is a Canadian gold exploration company, focused on the acquisition and development of gold projects in Namibia. Having achieved our initial vision of finding Namibia’s next significant gold deposit, we are now focused on rapidly advancing the exciting Twin Hills gold discovery and to make new discoveries elsewhere along the belt. This we will achieve with Osino’s winning formula of combining innovation & drive with technical experience & strong financial backing.

Our portfolio of exclusive exploration licenses is located within Namibia’s prospective Damara mineral belt, mostly in proximity to and along strike of the producing Navachab and Otjikoto Gold Mines. Osino is targeting gold mineralization that fits the broad orogenic gold model. We are actively advancing a range of gold discoveries, prospects and targets across our approximately 7,000km ² ground position by utilizing a portfolio approach geared towards discovery.

Our core projects are favorably located north and north-west of Namibia’s capital city Windhoek. By virtue of their location, the projects benefit significantly from Namibia’s well-established infrastructure with paved highways, railway, power and water in close proximity. Namibia is mining-friendly and lauded as one of the continent’s most politically and socially stable jurisdictions. Osino continues to evaluate new ground with a view to expanding its Namibian portfolio.

Further details are available on the Company's website at https://osinoresources.com/

CONTACT INFORMATION
Osino Resources Corp.
Heye Daun: CEO
Tel: +27 (21) 418 2525
hdaun@osinoresources.com

Julia Becker: Investor Relations Manager
Tel: +1 (604) 785 0850
jbecker@osinoresources.com

Cautionary Statement Regarding Forward-Looking Information

This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, statements regarding the use of proceeds from the Company's recently completed financings, and the future plans or prospects of the Company. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking statements are necessarily based upon a number of assumptions that, while considered reasonable by management, are inherently subject to business, market and economic risks, uncertainties and contingencies that may cause actual results, performance or achievements to be materially different from those expressed or implied by forward-looking statements. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Other factors which could materially affect such forward-looking information are described in the risk factors in the Company's most recent annual management's discussion and analysis which is available on the Company's profile on SEDAR at www.sedar.com . The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

Company Name:	OSI Geospatial Inc.
Stock Symbol:	OSIIF
Market:	OTC
Website:	osinoresources.com/

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