Reports 47.6 g/t Au over 3 m within 9 m of 21.2 g/t Au at Marudi
Guyana Goldstrike (GYA.V) reported assay results from the Company’s exploration program at the Marudi Gold Project located in Guyana, South America.
Three chip-channel samples were collected from fracturing in oxidized quartzite-metachert (host rock).
Assays returned values as high as 47.6 g/t Au across 3 metres within 9 meters of 21.2 g/t Au. Samples were oriented approximately horizontally on near vertical exposures across steeply dipping fractures.
The samples were taken as part of the company’s objective to expand the known mineralized areas and add to the current existing mineral resources.
Mr. Locke Goldsmith, M.Sc., P. Eng, P. Geo, VP Exploration states,
“These chip-channel samples are important as they increase knowledge about structural controls of high-grade gold mineralization within the host strata. A better understanding of controls will enable us to more effectively target our drilling on areas with high-grade gold potential.”
Highlights of 2019-20 Planned Phase Two Exploration Program
- Diamond drilling of up to 2,500 metres at the newly discovered Toucan Ridge zone and other targeted areas that have been identified by geophysics, trenching and outcrops
- 7 priority areas of interest - Marudi Spur Ridge, Peace Creek, July Creek, Success Creek, Kimberley Ridge, East Marudi, and Marudi North West Extension areas are to be explored by mapping, sampling and trenching with potential confirmation drilling follow up
- The Company will focus its initial trenching at Kimberley Ridge and Success Creek with the intention of generating new drill target areas
- The Company will commission a 3D geophysical interpretation west of the Mazoa Hill zone, that includes the target areas: Pancake, Kimberley Ridge, and Success Creek
- The Company plans to re-log and re-sample historic drill core from Mazoa Hill and Marudi North areas to standardize a new data base
- Upon initial success from trenching and drilling the Company may elect to increase its diamond drilling program beyond 2,500 metres
About the Marudi Gold Project
The Company is developing the Marudi Gold Project, which has a 17-year mining license and is located in Guyana, South America. Historic diamond drilling completed on the Project by prior operators have delineated two zones of gold mineralization: Mazoa Hill and Marudi North zones. A mineral resource estimate has been completed on the Mazoa Hill Zone. It is open to mineralization in multiple directions and at depth.
The Company has also recently discovered a third mineralized zone, called Toucan Ridge, which is situated about 1000 metres to the northeast of the Mazoa Hill Zone. In addition to the known gold deposits and the new Toucan Ridge zone, the company has over 45 sq. kms of underexplored land and believes the greater land position has excellent upside potential for the discovery of new mineralized zones through the development of previously and newly identified mineralized bedrock targets on the Project.