Reports Initial Assays of 0.69 g/t Au over 27 Metres including 1.09 g/t Au over 9 Metres
VANCOUVER, BC, CANADA, September 13, 2018 /EINPresswire.com/ — Guyana Goldstrike Inc. (the “Company” or “Guyana Goldstrike”) (TSX.V: GYA, FSE:1ZT) is pleased to report assay results from Trench TTR-18-7 at the Toucan Ridge area on its Marudi Gold Project ("Marudi" or the "Property") located in the Guiana Gold Belt, Guyana, South America.
Trench TTR-18-7 initial assays returned values of 0.69 g/t Au over 27 metres including 1.09 g/t Au over 9 metres. The trench is located approximately 100 metres eastward of trench TTR-18-06 along Toucan Ridge.
Additional samples are pending from trench TTR-18-07 and will be released once received and reviewed by the Company.
Mr. Peter Berdusco President and CEO states,
“Our mandate via the investment by Zijin's Global and Midas Exploration Funds earlier this year is very clear – to explore and develop Marudi for additional hard rock ounces to add to the Company's existing resources. To this effort, our trenching program has explored four of the nine identified areas of geological interest for the discovery of gold, with Toucan Ridge still under exploration. Further results from Toucan Ridge are still pending for trenches, TTR-18-06, TTR-18-07, TTR-18-08, and TTR-18-09. The geological team is continuing to prudently step out and trench along the ridge’s area of interest with the current sampling and mapping of trench TTR-18-10.”
Current Zones and Mineral Resource Estimate
The Toucan Ridge area is located approximately one kilometre east of the Marudi North zone and one kilometre north of the Mazoa Hill zone. The Mazoa Hill zone contains the project’s current mineral resource estimate. Data analyzed suggests that the mineralized zone is open at depth and to the southeast. 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 1.6 g/t
Toucan Ridge Area Location and Trenching
A total of 1128 metres of trenching has been completed in the Toucan Ridge area. 390 samples have been taken. The exploration team will continue along the ridge progressing in an eastward direction with each new trench site stepping out roughly 50-100 metre intervals, mainly perpendicular to the ridge. The area of interest continues for more than 1.75 kilometres to the east of the first trench – TTR-18-05. Trench sites are planned 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 and returned the Company’s first significant gold discovery.
About Quartzite-metachert (Host Rock) at Marudi
At Marudi, all important gold mineralization discovered to date is associated with the medial quartzite-metachert (host rock) unit of the Marudi Mountain Formation. Gold occurs within the magnetite-hematite rich quartzite and in the magnetite-silicate iron formation. Mineralization of the host rock may be affected at surface by the erosion at different levels of the strata. Therefore, all discoveries of quartzite-metachert on the Property are considered important for the potential of containing mineralization at surface and/or at depth and should be explored through trenching and drilling. When discovered these areas are assigned high levels of priority for further exploration work, including drilling in the Company’s planned drill program.
Previous operators at Marudi reported 3,327.40 metres of trenching and assayed 1,069 samples with gold values assayed up to 11 g/t of gold. (Source: D. Strickland P. Geo NI 43-101 Technical Report, November 30, 2016)
About the Marudi Gold Project
The Company is developing the Marudi Gold Project located in Guyana, South America. The project has 18-year mining license in good standing, all-season road access, infrastructure in place, with an established camp serviced by employees, service buildings, and a full-time camp manager. The Property has three known gold bearing areas: the alluvial areas, the saprolite, and the underlying hard-rock.
There has been 42,000 metres of historic diamond drilling (141 holes) completed on the project by prior operators that have delineated two zones of mineralization: Mazoa Hill and Marudi North zones. The Company has recently completed a mineral resource estimate on the Mazoa Hill zone containing 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 1.6 g/t. There exists excellent exploration upside through the development of previously and newly identified mineralized bedrock targets on the project.
About Guyana Goldstrike Inc.
Guyana Goldstrike Inc. is a Canadian based junior gold company focused on the exploration, development, and operation of the Marudi Gold Project in Guyana, South America.
The Republic of Guyana is located in South America adjacent to Suriname. The country is English speaking and under British Common Law with a democratically-elected government. It has an established mining act and a rich history of gold production. In 2016, 690,000 ounces of gold was produced by operators mining in the country. The Fraser Institute’s 2016 Annual Survey of Mining listed Guyana as the third best mining jurisdiction with regards to investment attractiveness in the Latin America and Caribbean Basin sub-group. The Guiana Shield is the geographic gold-hosting region, and is world-recognized as a premier gold region that is highly prospective, under-explored and has geological continuity with West Africa.* In 2016, two mines in Guyana declared the commencement of commercial production: the Aurora deposit (Guyana Goldfields) and the Karouni deposit (Troy Resources).
David Joseph Marketing
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Source: EIN Presswire