Reports Initial Assays of 1.38 g/t Gold over 16 Metres Including 5.4 g/t Gold over 3 Metres from Trench TTR-18-08 at Toucan Ridge Area, Marudi Gold Project, Guyana
Guyana Goldstrike Inc. (GYA.V) reported it has received initial assay results from trench TTR-18-8 completed at the Toucan Ridge area on its Marudi Gold Project located in the Guiana Gold Belt, Guyana, South America.
Initial assay results from trench TTR-18-08 have returned a weighted average of 1.38 g/t gold over a length of 16.27 metres including 5.4 g/t over 3 metres.*
TTR-18-8 was trenched a total of 280 metres with 104 samples taken for fire assay and selected samples re-assayed for total metallic content.
These are initial assay results from trench TTR-18-8. The remaining fire assay and total metallic content results from trench TTR-18-8 are pending and will be reported once received, reviewed and compiled by the Company.
Peter Berdusco, President and CEO states “The geological team has successfully confirmed the presence of gold in the quartzite -metachert host rock in trench TTR-18-08 at Toucan Ridge. It is noteworthy that trench TTR 18-08 has returned the longest length of gold mineralization to date from our 2018 trenching program at Marudi. This is also further complimented with the confirmation of high-grade gold in these results. The 1.75-kilometre-long Toucan Ridge area of interest continues to develop as a priority target area for our upcoming drill campaign which will test for gold mineralization at depth.”
Significant Gold Discoveries
To date, the Company has trenched four areas of interest: Paunch, Pancake, Marudi-North West Extension and Toucan Ridge, which is the current area being trenched.
In May 2018, trenching samples from the Paunch area returned the trenching program’s first significant gold discovery with high-grade assay results of 7.45 g/t gold and 5.98 g/t over 2 metres respectively.
Toucan Ridge Area Location and Trenching
To date, a total of 704 metres of trenching has been completed in the Toucan Ridge area. 254 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 g/t and 86,200 inferred gold ounces within 1,653,000 tonnes grading 1.60 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.