Samples and Assays up to 1.53 g/t Gold, More Assays Pending
Guyana Goldstrike Inc. (GYA.V) reported initial assays from Trench TTR-18-6 at the Toucan Ridge area on its Marudi Gold Project located in the Guiana Gold Belt, Guyana, South America.
Locke Goldsmith M Sc. P Eng. P Geo., VP Exploration states, “Our trenching at Toucan Ridge has been extremely consistent and favorable given that the initial trenches in this area have exposed quartzite-metachert - the host rock for gold mineralization. The initial assays from trench TTR-18-6 have now confirmed the presence of significant gold values in the host rock.”
Mr. Goldsmith continues, “This discovery has a number of important characteristics: First, the initial area of interest at Toucan Ridge extends for a length of 1.75 kilometres and therefore the potential for a mineralized zone of substantial size exists; second, significant values of gold at surface in the host rock is a leading indicator suggesting that gold may also be present at depth and deserving of priority drill testing; and third, the close proximity of Toucan Ridge to the Property’s two mineralized zones is important in terms of logistics, as it is one kilometre east of Marudi North and one kilometre north of Mazoa Hill, which contains the Property’s current mineral resource estimate.”
Toucan Ridge Trench TTR-18-6 Highlights
A total of 90.40 metres was trenched in TTR-18-6 and 33 samples were taken for fire assay. Of these, eight were re-assayed for total metallic content.
Additional assay results are currently pending from TTR-18-6.
Two samples were collected from each sample interval along the trench. One sample was shipped to Actlabs in Georgetown for fire assay and a second sample was panned by the Company to visibly examine and determine if free gold was present in the heavy mineral concentrate.
The Company initiated a procedure wherein sample intervals that contain visible gold in the heavy mineral pan concentrate would have a total metallic analysis requested from the assay lab for those corresponding samples. The method is a means of determining if a nugget effect may influence assay results.
Actlabs prepared new pulps from the original material and completed the total metallic assays from eight of the initial samples from TTR-18-6 where visible gold was observed in heavy mineral pan concentrates derived from quartzite-metachert.
The results of the total metallic assays have confirmed a significant increase in gold g/t values when compared to the fire assays. A comparison between selected standard fire assays and total metallic assays are shown in Table 1 below.
Table 1. Trench TTR-18-6. Comparison of fire assays and total metallic assays
|Trench||From||To||Length||Au Fire||Au Fire||Au Total Metallic||Au Total Metallic|
|m||m||m||ppm||Weighted Average ppm||g/t||Weighted Average g/t|
NOTE: Intervals lengths do not represent true widths
Trenching Exploration Program and Significant Gold Discoveries
To date, the company has trenched four areas of interest: Paunch, Pancake, Marudi-North West Extension and Toucan Ridge.
In May 2018, trenching samples from the Paunch area returned the trenching program’s first significant gold discovery with high-grade assay results of 5.98 g/t and 7.45 g/t gold over 2 metres respectively.
(See news release dated May 15, 2018: “Guyana Goldstrike Assays up to 7.45 g/t in New Discovery of Gold Mineralization at Paunch Area, Marudi Gold Project, Guyana” ; and
news release dated May 30, 2018: “Guyana Goldstrike Continues with Gold Discovery: Assays up to 5.98 g/t Gold at Paunch Area, Marudi Gold Project, Guyana”)
Location Map: Toucan Ridge Trenches and Area of Interest
Toucan Ridge Area Location and Trenching
The initial area of trenching at Toucan Ridge began on the western end with trench TTR-18-05 which is located approximately one kilometre east of the Marudi North zone and one kilomtetre north of the Mazoa Hill zone. The Mazoa Hill zone contains the project’s current mineral resource estimate: 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).
The Toucan Ridge area of interest continues for more than 1.75 kilometres to the east of the first trench - TTR-18-05. Trench sites are planned along the length of the ridge where quartzite-metachert is exposed or interpreted to occur beneath the transported overburden. The eastern part of Toucan Ridge is approximately 400 metres south of the Paunch area which was trenched in May of this year and returned the Company’s first significant gold discovery and approximately 350 metres north of alluvial workings at Toucan Creek.
About Quartzite-metachert (Host Rock) at Marudi
At Marudi, all important gold mineralization discovered to date is associated with the medial quartzite-metachert (host rock) unit of the Marudi Mountain Formation. Gold occurs within the magnetite-hematite rich quartzite and in the magnetite-silicate iron formation. Mineralization of the host rock may be affected at surface by the erosion at different levels of the strata. Therefore, all discoveries of quartzite-metachert on the Property are considered important for the potential of containing mineralization at surface and/or at depth and should be explored through trenching and drilling. When discovered these areas are assigned high levels of priority for further exploration work, including drilling in the Company’s planned drill program.
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)
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 an 18-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.
About Guyana Goldstrike Inc.
Guyana Goldstrike Inc. is a Canadian based junior gold company focused on the exploration, development, and operation of the Marudi Gold Project in Guyana, South America.