Airborne Survey, Trenching, Diamond Drilling, Sampling, and Gold Assays
Guyana Goldstrike Inc. (GYA.V) announced details of a planned multi -phase exploration program on the Company's 13,500-hectare Marudi Gold Project in Guyana, South America. The focus of the program is to further identify new gold mineralization in the hard-rock with an effort to expand beyond the Property’s historic resource estimate.
Mr. Locke Goldsmith, P.Eng., P.Geo., Chief Geologist, states, “It is exciting to be organizing a comprehensive exploration program that will see the Marudi Gold Project advance. Only five percent of the Property has been explored to date, and therefore the opportunity for new discoveries is very favourable.”
HIGHLIGHTS OF THE PLANNED EXPLORATION PROGRAM
• Up to 10,000 Metres of Diamond Drilling
• Up to 12,000 Metres of Trenching
• Detailed Rock, Soil and Core Sampling and Assaying
• Airborne Magnetic Survey over the entire Property
The Company has been endowed with legacy data on 141 holes (over 40,000 metres) of diamond drilling completed on the Property. The majority of the drilling was conducted on two main mineralized zones: Marudi North and Mazoa Hill. Both sites are open to mineralization in multiple directions and at depth, and therefore favorable to further exploration and development.
Multi-phase Exploration Program Summary:
A 12,000 metre excavator trenching and sampling program of targeted locations is planned. It is anticipated to be followed by an up to 10,000 metre diamond drilling program. Assays will be performed on all samples from rock, soil and core.
An airborne magnetic and radiometric survey is also planned to be flown over the Property (13.5 sq. km) to ascertain a geophysical signature of the complete area. The metachert rock unit that hosts gold mineralization on the Property contains disseminated magnetite that will be detected by the survey. The data obtained from the survey will assist the Company in tracing the unit through areas of saprolite and identifying targeted sites for further exploration.
“The Marudi Property is underlain by Proterozoic metasediments of the Kwitaro Group and the younger Southern Guyana Granite Complex. The Kwitaro Group is mostly comprised of shallow water metasediments with interbedded basic volcanic strata which are metamorphosed to amphibolites facies (Berrangé, 1972). The Southern Guyana Granite Complex is part of the tectono-thermal TransAmazonian Orogenic Cycle which resulted in block faulting, crustal shortening, folding, metamorphism, and anatexi (Hurley, et. al. 1967). Locally the Property is dominated by the Marudi Formation of the Kwitaro Group which includes a lower pelitic unit, a medial quartzite and meta-andesite unit with subordinate tuff and ironstone (the ‘quartzite’ unit). These rocks are overlain by a massive unit of orthoamphibolite (metabasalt). These metasedimentary and metavolcanic rocks have been subjected to upper greenschist and lower amphibolite grade regional metamorphism. The Marudi granodiorite lies mostly north of the north flank of Marudi Mountain. Metasedimentary and metavolcanic units at the Marudi Property have been complexly deformed with at least two local and three regional generations of folding recognized. Fold axes and beds have been offset by a significant northwest striking fault which cuts the Mazoa Hill anticline. Displacement on this fault is uncertain.
Gold mineralization at the Property is regarded as being related to iron-formation hosted gold deposits which occur in other cratonic greenstone belts. Iron-formation hosted gold deposits and occurrences can be divided into two sub-types: stratiform and non-stratiform. At the Marudi Property, all important gold mineralization discovered to date is associated with the medial ‘quartzite’ unit of the Marudi Mountain Formation. Gold occurs within the magnetite-hematite rich quartzite and in the magnetite-silicate iron formation.” (Source: Strickland 2016, NI 43-101 Technical Report on the Marudi Property, Guyana).
The proposed exploration program on the Property will be completed in multiple phases, as working capital and financing are made available to the Company. The Company may also elect to alter subsequent phases of the program, based on the results and success of earlier phases. The Company will continue to provide corporate and exploration updates as the program develops.