To upgrade and expand the two known gold mineralized zones and locate new areas of gold mineralization
Guyana Goldstrike (GYA.V) is pleased to announce commencement of Phase One exploration activities at the Marudi Gold Project Guyana, South America.
PHASE ONE HIGHLIGHTS
• Up to 12,000 metres of trenching
• Extensive rock and soil sampling
• Expansion of surface mineralization in known zones
• Detailed geological mapping (lithologic, alteration, and structural)
• Discovery of new mineralization and evaluation
• Drill-target selection and definition
“The Company’s exploration strategy is to upgrade and expand the Project’s two known mineralized zones and to continue to explore for new areas of mineralization,” stated Locke Goldsmith, MSc., P. Eng, P. Geo, Chief Geologist and Exploration Manager for the Company. “Marudi is greatly under-explored and possesses tremendous potential for additional discoveries and we are confident of making those discoveries significant ones,” continued Mr. Goldsmith.
PHASE ONE PROGRAM
The Company’s in-country Field Geologist is on site conducting reconnaissance mapping and sampling. Sampling will be performed on both the hard-rock and saprolite (thoroughly decomposed, weathered and porous rock) areas. Two samples will be taken from each saprolite interval, one will be sent to the laboratory for assaying and one will be panned in camp for the presence of gold. These panned results are used as an additional check against laboratory results.
Objectives of Phase One are: 1) expand the exposures of mineralized hard-rock at newly discovered locations, 2) follow and expand zones that were identified in trenches by previous operators, and 3) examine areas where gold is present in saprolitic material and a bedrock source has not been identified. Exploration by trenching and sampling is an important, cost-effective method for identification of drill targets in saprolite terrane.
The area of immediate focus represents less than five percent of the property. The new locations of interest within this area are: Kimberley Ridge, Marudi North (west and east extensions), Marudi Spur Ridge, Toucan North, Pancake Creek, Mariwa and Success Creek.
The work will be conducted under the supervision of Mr. Locke Goldsmith, M.Sc., P. Eng, P. Geo, Chief Geologist and Exploration Manager for the Company. The on-site geological staff will be supported by the property’s fully equipped mining camp which comes with employees and service buildings. Once Phase One is completed, the collected data will be reviewed, analyzed and used in the planning of the Company’s diamond drilling phases.
ABOUT THE MARUDI GOLD PROJECT
The Project, located in Guyana, South America, is unique in that it has three known gold bearing areas, specifically the alluvial areas, the saprorlite overburden, and the underlying hard-rock. There has been 42,000 metres of historic diamond drilling (141 holes) completed on the Project's hard-rock by prior operators. This historical work has delineated several historical mineral resource estimates on the Project.
There exists excellent exploration upside through the development of previously identified, highly-prospective mineralized targets on the Project. The Project has a mining license in good standing, all-season road access, infrastructure in place, with an established mining camp serviced by employees, service buildings, and a full-time mining manager.