Completes Sampling and Mapping of Trenches TTR-18-7 and TTR-18-8 at Toucan Ridge
Reports high-grade assay results of 5.98 g/t and 7.45 g/t gold at Paunch
Guyana Goldstrike Inc. (GYA.V) reported that the geological team has completed sampling and mapping of trenches TTR-18-7 and TTR-18-8 at the Toucan Ridge area on its Marudi Gold Project ("Marudi" or the "Property") located in the Guiana Gold Belt, Guyana, South America.
Peter Berdusco President and CEO states “We are extremely pleased with the progress of our trenching at Toucan Ridge. Both trench TTR-18-7 and TTR-18-8 have shown consistency with the exposure of quartzite-metachert, the host rock for gold mineralization. The exploration team will continue to step out each trench site roughly 50 to 100 metres along the 1.75 kilometre area of interest, mainly perpendicular to the ridge, progressing in an eastward direction. Each trench will be evaluated based on host rock content and assay results from the sampling. A determination will then be made, whether to continue progressing along the ridge, or move the trenching program to our next area of interest.”
Toucan Ridge Trench TTR-18-7 TTR-18-8 Highlights
At trench TTR-18-7 243.30 metres was trenched and 86 samples were taken for fire assay and selected samples will be re-assayed for total metallic content. The quartzite-metachert host rock in trench TTR-18-7 has been trenched and exposed at surface for a continuous length of 107.5 metres.
(See news release dated July 19, 2018: “Guyana Goldstrike Extends Trenching of Quartzite-metachert Host Rock Over 100 Metre Long Horizon at Toucan Ridge Area, Marudi Gold Project, Guyana”)
At trench TTR-18-8 280.0 metres was trenched and 104 samples were taken for fire assay and selected samples will be re-assayed for total metallic content.
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”
In July 2018, trenching samples from TTR-18-06 at Toucan Ridge returned the trenching program’s second significant gold discovery with an assay result of 1.27 g/t over 4.5 metres.
(See news release dated August 2, 2018: “Guyana Goldstrike Confirms Second Gold Discovery: Assays up to 1.53 g/t Gold in Trench TTR-18-6 at Toucan Ridge Area, Marudi Gold Project, Guyana”)
Toucan Ridge Area Location and Trenching
To date, a total of 775 metres of trenching has been completed in the Toucan Ridge area. Approximately 300 samples have been taken. The exploration team will continue to explore along the ridge progressing in an eastward direction with each new trench site stepping out roughly in 50-100 metre intervals, mainly perpendicular to the ridge.
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 in intervals 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.