To Commence Phase One Diamond Drilling in Q1 2019 at Marudi Gold Project, Guyana, South America
Guyana Goldstrike Inc. (GYA.V) announced that it is currently soliciting and reviewing bids from drilling contractors for the right to diamond drill the Company's Marudi Gold Project located in the Guiana Gold Belt, Guyana, South America.
The planned phase one drilling will focus on Toucan Ridge - a new gold discovery area at Marudi. The phase one target zones will focus on the multiple trench sites along the ridge which have successfully confirmed gold mineralization. Target zones will be further defined once the magnetic and radiometric survey report has been completed and then reviewed by the technical team. The primary objective of phase one is to confirm mineralization at depth. The target zones are open in all directions and trenching is currently ongoing and progressing in an eastward direction along the ridge's 1.75 kilometre area of interest.
Drilling is anticipated to commence in early Q1 2019. The company has planned additional diamond drilling phases in 2019. The additional phases are based upon drilling success at Toucan Ridge and depth confirmation drilling at other areas of interest on the property. These areas will be scheduled for trenching and priority will be given to those areas possessing the best exploration upside. The goal of the 2019 program is to expand Marudi's mineral resource estimates. Further details of phase one and the 2019 drill program will be disclosed in subsequent news releases.
Toucan Hill - Diamond Drill Hole TH 93-84
One historical hole has been drilled near Toucan Ridge. In 1993, Romanex-Sutton drilled 300.00 metres south of the ridge at Toucan Hill. The hole encountered a 39.00 metre section of elevated mineralization including 3.00 metres of 0.82 g/t Au at a depth of roughly 180.00 metres below surface. The hole terminated at a depth of 230.00 metres below surface in the quartzite-metachert host rock without drilling through it. The location of the hole is marked in the " Toucan Ridge Location Map " below.
Mineral Resource Estimates and Assay Highlights from Mazoa Hill Zone
In 2012, the prior operator drilled the Mazoa Hill Zone which contains the Company's current mineral resource estimate. The Toucan Ridge area is located approximately one kilometre north of the Mazoa Hill zone. Data analyzed suggests that the mineralized zone is open at depth and to the southeast. Mazoa Hill zone mineral resource estimates:- 259,100 indicated gold ounces within 4,428,000 tonnes grading 1.80 g/t;
- 259,100 indicated gold ounces within 4,428,000 tonnes grading 1.80 g/t;
- 86,200 inferred gold ounces within 1,653,000 tonnes grading 1.60 g/t