Gold Fever replied the topic: Research ReportGuyana Goldstrike
Guyana Goldstrike Inc.
(TSXV: GYA / FSE: 1ZT / OTC: GYNAF)
Near-Term Production Potential and Exploration Upside
Sector/Industry: Junior Resource
Market Data (as of November 21, 2017)
Current Price C$0.30
Fair Value C$0.58
52 Week Range C$0.14 - C$0.37
Shares O/S 37,424,838
Market Cap C$11.23 mm
Guyana Goldstrike Inc. is advancing the Marudi Gold project in Guyana, South America.
Marudi has near-term production potential from the alluvial areas and the saprolite (thoroughly decomposed, weathered and porous rock) overlying a hardrock host. The project has an active mining license.
The company is currently generating revenues from a 10% royalty on artisanal mining on the project area. In the 12 months ended September 2017, a total of 1,528 oz were produced. GYA’s 10% royalty was US$178k.
A historic resource estimate (1995) on two mineralized zones (Mazoa Hill and Marudi North) total approximately 472 Koz of hard-rock gold.
The company has recently announced that it is converting the historic resource estimate of the Mazoa Hill zone into a NI 43-101 compliant resource. The company has also initiated a multi phase exploration program to expand the mineralization on the property through the discovery of new zones and areas.
The property has been subject to a total of 42,000 m (141 holes) of diamond drilling since 1946 by various entities, for a total exploration expenditure of approximately $30 million. 95% of Marudi is still unexplored.
Guyana is host to several large gold projects. The country’s annual gold production in 2016 was 690,000 oz.
Artisanal mining has been prevalent in the region for centuries. Most of the gold deposits in the Guiana Shield (covering 415,000 sq.km) lie within a northern belt that runs from Venezuela to French Guiana. Marudi is located south of this belt. The company’s management believes that Marudi is part of a previously unidentified southern gold belt.
Marudi holds Iron-Formation-hosted Gold (“IFG”) mineralization, such as the Musselwhite gold mine in Ontario, Canada, and the Homestake gold mine in South Dakota, U.S. The primary similarities with all these projects are the 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 lack of lead and zinc enrichment.
The property is estimated to host three separate gold bearing areas - namely the alluvial areas, saprolite overburden, and the under-lying hard-rock. Management’s focus is to evaluate the near-term production of the alluvial areas and the saprolite overburden, expand the already identified hard-rock historic resource, and identify new mineralized zones and areas.
The project received a mining license in 2009. The license has a 20-year term, with an option to renew for an additional seven years. Romanex had applied for the license back in 2003. Romanex’s application consisted of an internal feasibility study, an Environmental Impact Statement and an Environmental Management Plan. The property is subject to a 5% ad valorem tax on gold, and 1.5% on all other minerals produced to the Government of Guyana.
The Marudi Mountain Mining License, covering approximately 13,500 acres (over 50 sq. km), is 230 km from the town of Lethem in southern Guyana, 60 km east of the border with Brazil. Lethem is approximately 500 km from Georgetown (capital city). The closest village of Aishalton is 35 km from the project. The property is surrounded by good infrastructure,all-season road network with road access.
Historic Work and Resource Estimate
The property has been subject to a total of 42,000 m (141 holes) of diamond drilling since 1946 by various entities, for total exploration expenditures of approximately $30 million.
The project has a historic resource estimate on two mineralized zones – namely Mazoa Hill and Marudi North (1 km northwest of Mazoa Hill), as shown in the map which follows.
Both Marudi North and Mazoa Hill are estimated to be open in multiple directions, with over 95% of Marudi still unexplored. Management believes the project has potential for another 2+ Moz gold resource, in addition to the already known 1995 historic resource estimate of 472 Koz.
Hoss replied the topic: NEWS - GYA.V Guyana Goldstrike Completes 3D Modelling of Gold Assays and Drill
2017-11-21 14:45 ET - News Release
Mr. Peter Berdusco reports
GUYANA GOLDSTRIKE INITIATES WORK ON UPDATED MINERAL RESOURCE ESTIMATE FOR MAZOA HILL ZONE AT MARUDI GOLD PROJECT, GUYANA
Guyana Goldstrike Inc. has entered into an agreement with Global Mineral Resource Services to complete and deliver a mineral resource estimate for the Mazoa Hill zone at the company's Marudi gold project, Guyana, South America.
The estimate will be disclosed within a technical report prepared in accordance with NI 43-101. There have been 9,666 metres of historic diamond drilling (54 holes) completed on Mazoa Hill by prior operators that resulted in a historical mineral resource estimate.
The strategy of the company is to bring the historical work current and to continue to evaluate the Project for additional ounces from the current zones and through the discovery of new zones.
ABOUT THE MARUDI GOLD PROJECT
The Project, located in Guyana, South America, is unique in that it has three known gold bearing areas, specifically the alluvial areas , the saprorlite overburden, and the underlying hard-rock. There has been 42,000 metres of historic diamond drilling (141 holes) completed on the Project by prior operators. This work has delineated historical mineral resource estimates on the Project.
For information concerning these estimates and the Project, readers are encouraged to review "NI 43-101 Technical Report on the Marudi Property, Guyana", a technical report prepared for the Company by Derrick Strickland, P. Geo., and is available on the Company's website (
) and under the Company's profile on SEDAR (
).* There exists excellent exploration upside through the development of previously identified, highly-prospective mineralized targets on the Project. The Project has a 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 Company considers these estimates to be historical, and cautions that a Qualified Person has not done sufficient work to classify the historical estimates as current mineral resources or mineral reserves in accordance with National Instrument 43-101
. The Company does consider these historical estimates to be relevant as they may indicate the presence of gold mineralization and favourable geology.