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Guyana Goldstrike Inc
Symbol GYA
Shares Issued 58,452,037
Close 2019-09-17 C$ 0.105
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Guyana Goldstrike selects Bonga for Marudi drilling

2019-09-18 10:13 ET - News Release

Mr. Peter Berdusco reports


Guyana Goldstrike Inc. has selected Bonga Xploration Drilling Ltd. of Vancouver, Canada, as the driller to carry out diamond drilling at its Marudi gold project, located within the Guiana Shield, Guyana, South America.

The Bonga Xploration team has visited the property and has gained a full understanding of Guyana Goldstrike's expectations for the upcoming program.

The drilling program will comprise up to 2,500 metres and can be extended for additional metres. This program will test and confirm at depth the gold associated and correlated to anomalous gold mineralization reported in the sampling results from surface trenching and the magnetic anomalies identified along the length of the 1.75-kilometre Toucan Ridge area.

Further details on the drilling and exploration program will be released once the company has finalized all logistics and contracts.

In 2018, a total of 12 trenches totalling 2,458 metres were completed at Toucan Ridge.

Over 850 trench samples were assayed from the Toucan Ridge area, returning grades as high as 23.5 grams per tonne (g/t) gold.

About the Marudi gold project

The company is developing the Marudi gold project, which has a 17-year mining licence and is located in Guyana, South America. There has been 42,000 metres of historic diamond drilling completed on the project by prior operators that 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 1,000 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 square kilometres 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.

Qualified person

Locke Goldsmith, master of science, professional engineer, professional geoscientist, chief geologist and exploration manager for the company, is a qualified person in accordance with National Instrument 43-101 (Standards of Disclosure for Mineral Projects). Mr. Goldsmith has reviewed and approved the scientific and technical content of this news release.

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