Guyana Goldstrike Inc.Trenched High-Grade Results of 5.98 g/t and 7.45 g/t Gold from Paunch Area

Trenches Toucan Ridge Area, Marudi Gold Project, Guyana, South America

VANCOUVER, BC, CANADA, July 6, 2018 /EINPresswire.com/ -- Guyana Goldstrike Inc. (TSXV: GYA, FSE:1ZT) announced that the geological team has commenced trenching, sampling and mapping at the Toucan Ridge area on its Marudi Gold Project (“Marudi” or the “Property”) located in the Guiana Gold Belt, Guyana, South America.

The initial area of trenching on the western end of Toucan Ridge is located 1 km east of the Marudi North Zone. Two of the current trenches (TTR-18 series) are approximately 300 m upslope to the north of Toucan Creek where historic alluvial mining has been active for many years. Toucan Ridge continues for more than 1.75 km to the east of the first trenches; sites are planned along the length of the ridge where quartzite-metachert is exposed or interpreted to occur beneath transported overburden. The eastern part of Toucan Ridge is approximately 400 m south of the Paunch area and 350 m north of alluvial workings on Toucan Creek.

In May 2018, trenching samples from the Paunch area returned high-grade results of 5.98 g/t and 7.45 g/t gold.

Locke Goldsmith MSc., P.Eng., P.Geo., VP Exploration states “Trenching at Toucan Ridge is discovering lengthy exposures of quartzite-metachert, which is the host rock for gold mineralization. Therefore, this area has very good potential for additional discovery of gold and may be a priority drill target for our upcoming drill program.”

As of July 4 a total of 725 meters has been trenched in all areas of the phase one trenching program, with 203 samples having been sent for analysis. Two samples have been collected from each interval along the base of the trench walls, one for panning to examine a heavy mineral concentrate for the presence of gold, and one for geochemical analysis of gold and trace elements. Sample lengths vary; many are 3 meters in length.



Toucan Ridge Exploration – Trenching Highlights

TTR-18-5
Located on the north slope of Toucan Ridge. Uncovered large quartzite-metachert angular fragments and boulders above saprolite derived from mafic metasediments. Quartz veinlets or quartzite with rusty / yellow / black oxidation was documented.

TTR-18-6
Sited on the south slope of Toucan Ridge approximately 50 m southwest of TTR-18-5. Uncovered quartzite-metachert outcrop in two locations. The southern quartzite-metachert interval is 6 m in length; black oxide, not magnetite, not hematite was documented.

TTR-18-7
Quartzite-metachert was uncovered over a length of 79 m in the southern end of the trench. The trench will be extended.

Historical Trenching

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)

Sampling and assaying

All samples collected during this program were delivered to Activation Laboratories Ltd. (Actlabs) located in Georgetown, Guyana for gold content by Fire Assay (FA). Actlabs is ISO 17025 accredited and/or certified to 9001: 2008. With 25+ years' experience, with full analytical laboratories that perform high quality analysis to many industries around the world.

Quality assurance / Quality control (QA/QC)

Actlabs is an ISO 9001:2008 qualified assayer that performs and makes available internal assaying controls. Certified blanks and standards are systematically used as part of Guyana Goldstrike's QA/QC program with one blank and standard inserted at every 20 sample intervals.

Property Geology

Gold mineralization at Marudi is regarded as being related to iron-formation-hosted gold ("IFG") deposits that occur in other cratonic greenstone belts around the world. These deposits can be remarkably long-lived with sizeable gold production. They have a strong association between gold and iron sulfide minerals, the presence of gold bearing quartz veins and structures, the occurrence of deposits in structurally complex terranes, and the absence of lead and zinc enrichment.

Examples of some existing IFG deposits are: the Homestake Mine, Lupin Mine, and Musselwhite Mine.

The Homestake Mine is located in South Dakota USA and was the largest and deepest gold mine in North America. It has reported production of 43.9 million ounces of gold (source:
https://en.wikipedia.org/wiki/Homestake_Mine_(South_Dakota) and was in production from 1878-2001.

The Lupin Mine located in Nunavut, Canada, no longer in production, produced approximately 3 million ounces of gold (source: http://www.kinross.com/news-and-investors/news-releases/press-release-details/2003/Suspension-of-Operations-at-the-Lupin-Mine/default.aspx).

The Mussellwhite mine has estimated reserves of 2.29 million ounces of gold (source: https://en.wikipedia.org/wiki/Musselwhite_mine) and is owned and operated by Goldcorp and will be in production until 2020.


About the Marudi Gold Project

The Company is developing the Marudi Gold Project located in Guyana, South America, the project is unique in that it has a 20-year mining license in good standing, all-season road access, infrastructure in place, with an established mining camp serviced by employees, service buildings, and a full-time mining manager. The Property has three known gold bearing areas, specifically 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. 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 grams/tonne (g/t) and 86,200 inferred gold ounces within 1,653,000 tonnes grading 1.60 grams/tonne (g/t). There exists excellent exploration upside through the development of previously 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.
www.guyanagoldstrike.com

David Joseph
David Joseph Marketing
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