Golden Shield Resources (CSE:GSRI, OTCQB:GSRFF) told investors that reverse circulation (RC) drilling has commenced at the Marudi North prospect at its flagship Marudi Mountain gold project in Guyana.
The company said 37 holes, collared on a pre-planned grid, have been completed to date. Three trenches have also been completed since its last update and it is awaiting 269 sample results from these as mapping and sampling work continues.
"Drilling with the company's RC rig has transformed exploration at Marudi, and geologists are now able to map gold-bearing rocks below the saprolite ‘cover’,” Golden Shield Leo Hathaway commented in a statement.
“This has led to the broadening of the mineralized footprints of Marudi North, Success and Pancake Creek, and the three areas may well grow to amalgamate into one larger area that extends southwards towards Mazoa Hill.”
At Marudi North, 1,895 metres have been drilled in 37 RC holes of a planned 35-hole program. Of the 237 selective grab samples that were taken, the company noted that 128 assayed more than 0.5 grams per tonne (g/t) gold, of which 112 returned values of more than 1 g/t gold, with grades reaching 37.6 g/t gold.
Meanwhile, at Pancake Creek, the company said 478 selective grab samples have been collected by its geologists on north-south oriented, 100 meter (m) spared gridlines. Of these, 115 assayed more than 0.5 g/t gold, of which 94 returned values of more than 1 g/t gold, with grades reaching 28.4 g/t gold.
At Success Creek, Golden Shield’s geologists collected 73 selective grab samples on north-south oriented, 100m spared gridlines. Of these, 13 assayed more than 0.5 g/t gold, of which 11 returned values of more than 1 g/t gold, with grades reaching 5.6 g/t gold.
After drilling at Marudi North is complete, Golden Shield said RC drilling will commence on a pre-planned grid at the IP-6 target.
Once the results of the RC drilling have been received, in late October or early November, the company said it will commence diamond drill testing the best of the RC anomalous areas.
Golden Shield Resources is a gold exploration company focused on three highly prospective 100%-owned exploration projects in Guyana, South America: Marudi Mountain, Arakaka, and Fish Creek.
Contact the author at stephen.gunnion@proactiveinvestors.com