Press Release (ePRNews.com) - VANCOUVER, British Columbia - May 26, 2017 - Guyana GoldStrike Inc. (GYA.V) is a Canadian based junior gold producer focused on the exploration, development and operation of the Marudi Mountain Mining License in Guyana, South America.
About the Marudi Gold Project
The Marudi Gold Project, a fully permitted mining license consisting of approximately 13,500 hectares, is located 230 Km from the town of Lethem in southern Guyana. The property is surrounded by good infrastructure, all-season road network with road access. The property was acquired in 1998 by Vanessa Ventures from Sutton Resources/Barrick, later acquired by Infinito Gold Ltd, and then Guyana Frontier Mining where the project was funded by Teck Resources. The Marudi property contains a historic non-compliant resource estimate of 960,000 oz of Au. The estimate is derived from two main development sites: Mazoa Hill and Marudi North. Both developments site are open at depth and to the west for further exploration upside.
The historic estimates contained in this news release should not be relied upon. These estimates are not National Instrument 43-101 (“NI 43-101”) compliant. While the Company considers these historical estimates to be relevant to investors as it may indicate the presence of mineralization, a qualified person for the Company has not done sufficient work to classify the historical estimates as current mineral resources as defined by NI 43-101 and the Company is not treating these historical estimate as current mineral resources.
The Republic of Guyana is located in South America between Venezuela and Suriname. The country is English speaking under British Common Law with a democratically elected government. It has an established mining act and rich history of gold production. In 2013, 458,000 ounces of gold were produced by operators mining in the country. The Guiana Shield belt has 110 million ounces of gold inventory and is world-recognized as a premier gold region. With geological continuity with West Africa, the shield is highly prospective and very under-explored. Two mines have recently declared the commencement of commercial production in 2016: Aurora deposit (Guyana Goldfields) and the Karouni deposit (Troy Resources).
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