Announces over 250,000 Indicated ounces and over 85,000 Inferred ounces of Gold at Mazoa Hill Zone, Marudi Gold Project, Guyana
Global Mineral Resource Services has completed and delivered a mineral resource estimate for the Mazoa Hill zone at Guyana Goldstrike Inc.'s (GYA.V) Marudi gold project in Guyana, South America.
Peter Berdusco, president and chief executive officer of Guyana Goldstrike, stated: "The resource estimate for Mazoa Hill is a company milestone and a great step toward the further development of the Marudi gold project. The potential for additional ounces on the property is excellent when one considers the following factors: Mazoa Hill is open in a number of directions, including at depth; the Marudi North zone is also open in a number of directions and contains a historic resource estimate; and, lastly, only 5 per cent of the entire property has ever been explored."
Mazoa Hill zone
The Mazoa Hill zone has been explored by surface trenching and approximately 63 drill holes. This work has defined a zone of mineralized quartzite that strikes northwest, is approximately 300 metres long along strike and 150 metres wide across strike, and has been traced to a depth of 250 metres below surface. The zone is near vertical or dips steeply to the northeast. The saprolite layer above the quartzite is up to 30 metres thick but is generally thinner, and the Mazoa formation quartzite is partially exposed at surface. This estimate has been constrained by a conceptual pit and is stated at a cut-off grade of 0.5 gram per tonne gold.
Marudi property, Mazoa Hill mineral resource estimate summary
The attached table presents the current mineral resource estimate for the Mazoa Hill zone.
MAZOA HILL RESOURCES IN CONCEPTUAL PIT AT 0.5-GRAM-PER-TONNE CUT-OFF Class Tonnes Au capped Au uncapped Ounces capped Ounces uncapped (g/t) (g/t) Indicated 4,428,000 1.8 1.9 259,100 269,700 Inferred 1,653,000 1.6 1.6 86,200 87,600
3-D high-definition (HD) video
In conjunction with the technical report, the company completed a 3-D HD video of the Marudi gold project, allowing for the viewing of the entire property and, specifically the Mazoa Hill zone, showing the drill intercepts, the blocked-out mineralized zone and a conceptual open-pit design. The 3-D HD video can be viewed on company's website.
Phase 1 exploration
The company is currently in the initial phase of an exploration program on the project. This initial phase consists of 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), evaluation of new mineralization, drill target selections and definitions. The results from this phase will be released as they become available.
Gold mineralization at Marudi is regarded as being related to iron-formation-hosted gold (IFG) deposits that occur in other cratonic greenstone belts. These deposits can be remarkably long-lived with sizable gold production. They have a strong association between gold and iron sulphide minerals, the presence of gold-bearing quartz veins and structures, the occurrence of deposits in structurally complex terranes, and the lack of lead and zinc enrichment. Existing IFG deposits are the Homestake mine, the Lupin mine and the Musselwhite mine.