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Guyana Goldstrike Announces Chip-Channel Assay Results in Guyana

Mining News - Published on Wed, 09 Oct 2019

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Guyana Goldstrike Inc announced chip-channel 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 each of two attitudes of fracturing in oxidized quartzite-metachert at the Mazoa Hill zone. Assays have returned values as high as 47.6 gram per tonne Au across 3 metres within 9 metres of 21.2 g/t Au. Samples were oriented approximately horizontally on near vertical exposures across steeply dipping fractures. The samples were taken by the Project geologist as part of the Company's ongoing objective to expand the knowledge of the mineralized areas and their controls. Sample lengths do not represent true widths.

Mr Locke Goldsmith, MSc, P Eng, P Geo, VP Exploration said that "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 the second phase exploration program are below:

1. 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

2. 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

3. The Company will focus its initial trenching at Kimberley Ridge and Success Creek with the intention of generating new drill target areas

4. 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

5. 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

6. Upon initial success from trenching and drilling the Company may elect to increase its diamond drilling program beyond 2,500 metres

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Posted By : Rabi Wangkhem on Wed, 09 Oct 2019
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