Guyana Goldstrike Inc. (“GYA”, “company”) has been actively exploring its Marudi gold project in Guyana, South America.
Since our previous report in March 2018, the company has identified a new zone of mineralization (named the Toucan Ridge), located in between the other two previously identified zones, Mazoa Hill and Marudi North. Mazoa Hill has an initial NI 43-101 compliant resource estimate of 270 Koz indicated and 88 Koz inferred.
Trenching at Toucan Ridge area has returned good intercepts, including 44.5 m of 1.22 gpt, 19.8 m of 1.87 gpt, 18.9 m of 1.22 gpt, and another 18.9 m of 2.03 gpt.
GYA is planning a 20,000 m drill program, followed by an updated resource estimate.
Barrick Gold (TSX: ABX) recently formed a 50:50 joint venture on Reunion Gold Corporation’s early stage (pre-resource) properties in Guyana, which we believe is an encouraging sign for smaller juniors such as GYA.
95% of Marudi remains unexplored.
Zijin Mining Group (SEHK: 2899) own 24% of the total outstanding shares.
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