Twin Hills is Osino’s golden ticket
Canadian-listed Osino Resources has pumped N$444 million into exploration and development investment in Namibia since 2017 and will spend a projected N$6.5 billion to establish the Twin Hills gold mine near Karibib, expected to become operational in 2025.
The company’s inaugural sustainability report states the grassroots Twin Hills gold project was discovered in 2019 and includes 14 of Osino’s exclusive prospecting licences (EPLs), comprising an area of about 1 540 km². The project is being fast-tracked towards development: licensing will be secured during Osino’s current financial year, with early work on the mine likely to start around the middle of next year.
Osino describes Twin Hills as \"economically viable with excellent returns\". It has an estimated 2.83 million ounces of gold in the measured and indicated mineral resource category, and 240 000 ounces in the inferred category.
The life of the mine is about 14 years, with a planned five million tonnes per annum ore processing capacity with 93.2% gold recovery. Osino forecasts approximately 200 000 ounces of gold production per year for the first four years, with an estimated average production of 169 000 per year over the life of mine.
OTHER TARGETS
In addition to Twin Hills, Osino also has other gold prospects and targets. It has a large ground position of approximately 6 700 km² located within Namibia’s prospective Damara sedimentary mineral belt, mostly in proximity to and along the strike of the producing Navachab and Otjikoto gold mines.
Ondundu is a pre-resources stage project located 120 km north of Twin Hills. In January this year, Osino entered into an agreement to acquire the Ondundu gold exploration property from B2Gold.
The Otjikoto East gold project comprises two licences covering about 855 km². The licence areas include around 90 km of strike length of prospective geology similar to that which hosts B2Gold’s Otjikoto gold mine, less than ten km west of Osino’s licenses. Work is currently focused on re-interpreting results to generate high-priority targets, follow-up field programmes and drilling, and surface sampling on high-ranking targets.
The Otjiwarongo regional gold project is northeast of Twin Hills. Activities include regional geochemical sampling and geological mapping to develop drill-ready targets for testing.
Osino is also involved in greenfields exploration on the regional extensions of the Karibib Gold Trend to the east and west of Twin Hills and strike extensions of the Navachab gold mine stratigraphy. Exploration activities include drilling and sampling at the Dobbelsberg South and Puff Adder targets directly south of Twin Hills.
LOCAL SPEND
Osino has spent N$376.3 million on procurement in Namibia since inception, of which N$183.6 million was in 2021. Procurement spend in the Twin Hills area since inception totals about N$81.7 million, of which N$50.2 million was spent last year.
Osino has invested N$2 million in development projects in the community.
Last year, Osino had 119 employees, 95% of them Namibian and 47% local to the area in which they operated. The company also employed 89 contractors.
Osino’s wages and benefits last year amounted to N$33.8 million.
The company’s inaugural sustainability report states the grassroots Twin Hills gold project was discovered in 2019 and includes 14 of Osino’s exclusive prospecting licences (EPLs), comprising an area of about 1 540 km². The project is being fast-tracked towards development: licensing will be secured during Osino’s current financial year, with early work on the mine likely to start around the middle of next year.
Osino describes Twin Hills as \"economically viable with excellent returns\". It has an estimated 2.83 million ounces of gold in the measured and indicated mineral resource category, and 240 000 ounces in the inferred category.
The life of the mine is about 14 years, with a planned five million tonnes per annum ore processing capacity with 93.2% gold recovery. Osino forecasts approximately 200 000 ounces of gold production per year for the first four years, with an estimated average production of 169 000 per year over the life of mine.
OTHER TARGETS
In addition to Twin Hills, Osino also has other gold prospects and targets. It has a large ground position of approximately 6 700 km² located within Namibia’s prospective Damara sedimentary mineral belt, mostly in proximity to and along the strike of the producing Navachab and Otjikoto gold mines.
Ondundu is a pre-resources stage project located 120 km north of Twin Hills. In January this year, Osino entered into an agreement to acquire the Ondundu gold exploration property from B2Gold.
The Otjikoto East gold project comprises two licences covering about 855 km². The licence areas include around 90 km of strike length of prospective geology similar to that which hosts B2Gold’s Otjikoto gold mine, less than ten km west of Osino’s licenses. Work is currently focused on re-interpreting results to generate high-priority targets, follow-up field programmes and drilling, and surface sampling on high-ranking targets.
The Otjiwarongo regional gold project is northeast of Twin Hills. Activities include regional geochemical sampling and geological mapping to develop drill-ready targets for testing.
Osino is also involved in greenfields exploration on the regional extensions of the Karibib Gold Trend to the east and west of Twin Hills and strike extensions of the Navachab gold mine stratigraphy. Exploration activities include drilling and sampling at the Dobbelsberg South and Puff Adder targets directly south of Twin Hills.
LOCAL SPEND
Osino has spent N$376.3 million on procurement in Namibia since inception, of which N$183.6 million was in 2021. Procurement spend in the Twin Hills area since inception totals about N$81.7 million, of which N$50.2 million was spent last year.
Osino has invested N$2 million in development projects in the community.
Last year, Osino had 119 employees, 95% of them Namibian and 47% local to the area in which they operated. The company also employed 89 contractors.
Osino’s wages and benefits last year amounted to N$33.8 million.
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