Golden Shield Resources Inc. [GSRI-CSE; 4LE0-FSE] reported assay results from the final four holes of the 11-hole, 3,100-metre phase 2 drill program and recent trenching results at its 100%-owned flagship, 5,457-hectare Marudi Mountain gold project located in the Rupununi district of southwestern Guyana. The Phase Two drill program was designed to test the extension of mineralization at depth and laterally at the previously identified Mazoa Hill prospect.
Drill holes MH-22-24, MH-22-25 and MH-22-26 were drilled to test the southern extension of Mazoa Hill Deposit. This area had seen limited historical drilling. Drillhole MH-22-27 was drilled to infill a previously undrilled panel in the northern part of the deposit. Detailed geological logging and interpretative work has shown that a high-grade mineralized envelope (the Main Zone) within the Quartz Metachert (QMC), plunges shallowly to the south. The Main Zone is interpreted to be down dropped vertically to the south, by a steeply dipping fault. The next (third) phase of drilling will target the down-dropped extension of the Main Zone.
Highlights Include Hole MH-22-26 that returned 10 metres grading 2.68 g/t gold, including 3 metres at 5.12 g/t gold.
Drilled as a step-out hole in the southern section of the deposit. The hole was drilled above the main high-grade ore shoot and intersected the upper zone of the Mazoa Hill Deposit.
Hole MH-22-27 returned 4 metres grading 7.77 g/t gold. Designed to drill into an undrilled section of the Mazoa Hill deposit at the northern margin of the deposit.
Hilbert Shields, CEO, commented, “The final four drill holes from our Phase Two drill campaign at Marudi Mountain continue to produce high-grade gold intercepts. The previously unrecognized down-faulted continuation of high-grade mineralization resulted from holes MH-22-24, MH-22-25 and MH-22-26 and this has greatly improved the company’s understanding of the Mazoa Hill deposit.”
|Since June, Golden Shield geologists at Marudi have been conducting an ongoing trenching program to develop new prospects and advance these and existing prospects to drill stage. A total of 2,010 metres in 17 trenches have been excavated and 505 continuous chip samples have been taken from bedrock, for which results from 340 samples have been received. Mapping and grab and channel sampling of outcrops and float material has also been ongoing. This work has increased the number of prospects, with favourable QMC host rock at surface, from eight to 13. Trenching highlights include 6 medtres of 4.84 g/t gold at Toucan Creek, 9 metres of 1.78 g/t gold at Kimberley, 3 metres of 2.07 g/t gold and 6 m of 1.22 g/t gold at Success Creek as well as 44.5 metres of 1.20 g/t gold at Toucan Ridge.|
Trenching has mainly focused on two areas, the new prospects of Throne and July. These prospects appear to form a north-northwest to south-southeast oriented, 1.9-km trend that is coincident with a ridge.
Trenching at the Throne target has uncovered QMC over a maximum strike length of approximately 230 metres and a maximum width of approximately 150 metres. This compares with a width of 55 metres and an outcropping strike of 120 metres at Mazoa Hill.
Golden Shield is planning to commence drilling in mid-September and continue until the Christmas break. Drilling will initially target the southern extension of Mazoa Hill followed by a drill test of the Throne and July prospects as results from Mazoa are awaited, and then return to Mazoa or additional move to test other targets resulting from the ongoing exploration work described below.
Trenching and surface work will also continue through this period, utilizing the company’s two excavators at site. Additional to this an extensive structural mapping program is planned, as well an Induced Polarization survey. The IP survey will determine whether gold-bearing sulphides underlying leached rocks at surface can be detected and mapped remotely. If successful, this will be an important tool in defining and ranking future drill targets.
Colin Porter, VP Exploration, commented, “The discovery of two areas of QMC that are larger than the surface expression of Mazoa Hill and also anomalous in gold, is significant, and extends the trend to the south-southeast of Mazoa Hill some 1.9 km. Surface weather will have diminished the gold levels compared to what may exist at depth, and so the planned drill testing is required to quantify grades and thicknesses. These trenching results highlight the probability that further drill targets are likely to exist at Marudi, and the company’s ongoing work is designed to locate these.”