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Identifies More Rock Quartzite - Gold Host Rock in First Three Trenches

 

Reports 17.55 meters of 4.29 g/t Gold Previously Drilled

 

Trenching Image

 

Guyana Goldstrike Inc. (GYA.V) announced that its geological team has uncovered quartzite-metachert (host rock for gold mineralization) in the first three excavator trenches at the Marudi North - West Extension on its Marudi Gold Project ("Marudi" or the "Property") located in the Guiana Gold Belt, Guyana, South America. The geological team has now expanded the trenching program in this area to continue tracing the host rock and associated gold mineralization.

Peter Berdusco, President and CEO states "It is very exciting to uncover the host rock in the first three trenches at the West Extension. This is exactly what we want to identify when trenching; and it validates our program. The presence of gold at these trenches would complement the existing mineralization of the Marudi North Zone. Further, it would give the entire Marudi North area a very high exploration priority. As a result, we eagerly anticipate assay results from the first three trenches and look forward to the additional trenching."

Marudi North - West Extension Exploration

Locke Goldsmith P. Eng P. Geo., VP Exploration reports "Quartzite-metachert, the host rock, has been exposed at depths between one to four meters below surface in three separate trenches. The West Extension has become an excellent exploration target that merits further trenching. We will carefully consider the area's qualification as a drill target for a phase one drill program later this year."

About Quartzite-metachert (Host Rock) at Marudi

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: D Strickland 43-101 Technical Report, November 30, 2016)

 

Trenching Summary at Marudi North - West Extension (To Date)

Trench TMN-18-1

Length: 98.1 m

An outcrop of quartzite-metachert was exposed at 2.5 m depth at the start of the trench.

Trench TMN-18-2

Length: 56.4 m.

Decomposed quartzite-metachert was uncovered at 4.0 m below surface, rising to 1 m below surface at the north end of the subcrop.

Trench TMN-18-3

Length: approximately 150 m (sampling not completed)

Quartzite metachert found 1.0 m below surface near the south end.

In all trenches horizontal chip-channel samples were collected for geochemical analysis along the base of the trench walls. Duplicate samples were collected for panning.

A total of 58 samples were taken from TMN-18-1 and TMN-18-2 for geochemical analysis.

Logging, mapping and photography follow sampling.

The exploration team is extending the trenching program to the west of TMN-18-3 where alluvial gold is being mined in a creek to the south of that area.

Photo of Trench TMN -18-3 - Closeup of Quartzite-metachert

(host rock for gold mineralization)



 

Historical Trenching at Marudi

Previous operators at Marudi reported 3,327.40 metres of trenching and assayed 1,069 samples with gold values assayed up to 11 g/t of gold.

(Source: D. Strickland P. Geo NI 43-101 Technical Report, November 30, 2016)

 

Historical Drill Results - Marudi North Zone

(Guyana Frontier - 2012) Source: 43-101 Technical Report D. Strickland P. Geo November 30, 2016

Hole No.

Azimuth (degrees)

Dip (degrees)

Final Depth of Hole (m)

From (m)

To (m)

Interval (m)

Gold Intercept (grams/ tonne)

MN12-133

119?

-50

163.5

9.08

18

8.92

2.95

including

9.6

12

2.4

7.45

30

37.45

7.45

0.26

159.7

163.5

3.8

0.32

MN12-134

119?

-70

97.67

12.5

30.05

17.55

4.29

including

12.5

24.5

12

5.54

30.05

39

8.95

0.3

MH12-135

290?

-60

268.5

23.26

55.5

32.24

1.8

MN12-137

115?

-55

292.5

195.13

204.94

9.81

0.78

MN12-140

140?

-55

139.5

48.97

57.16

8.19

0.31

72.5

80.5

8

1.9

including

74.5

78.5

4

3.4

MN12-141

165?

-55

110

36

42.5

8.95

0.26

60

66

6

0.3

Sampling and assaying

All samples collected during this program were delivered to Activation Laboratories Ltd. (Actlabs) located in Georgetown, Guyana for gold content by Fire Assay (FA). Actlabs is ISO 17025 accredited and/or certified to 9001: 2008. With 25+ years' experience, with full analytical laboratories that perform high quality analysis to many industries around the world.

Quality assurance / Quality control (QA/QC)

Actlabs is an ISO 9001:2008 qualified assayer that performs and makes available internal assaying controls. Certified blanks and standards are systematically used as part of Guyana Goldstrike's QA/QC program with one blank and standard inserted at every 20 sample intervals.

About the Marudi Gold Project

The Company is developing the Marudi Gold Project located in Guyana, South America, the project is unique in that it has a 20-year 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. The Property has three known gold bearing areas, specifically the alluvial areas, the saprolite, and the underlying hard-rock.

There has been 42,000 metres of historic diamond drilling (141 holes) completed on the Project by prior operators. The Company has recently completed a mineral resource estimate on the Mazoa Hill zone containing 259,100 indicated gold ounces within 4,428,000 tonnes grading 1.8 grams/ tonne (g/t) and 86,200 inferred gold ounces within 1,653,000 tonnes grading 1.60 grams/ tonne (g/t). There exists excellent exploration upside through the development of previously identified mineralized bedrock targets on the Project.

 

http://www.guyanagoldstrike.com