Golden Shield Resources (CSE:GSRI, OTCQB:GSRFF) told investors it is preparing to launch a significant diamond drilling program at its Marudi Mountain property, in Guyana, focusing primarily on the Mazoa Hill target.
Drilling is scheduled to start in early January 2024, the company said in a statement.
It is a fully funded exploration campaign that’s poised to advance Mazoa Hill where previous drilling has delivered impressive high-grade results such as 50 meters grading 9.10 grams per ton (g/t) gold and 9.75 meters grading 11.9 g/t.
This next phase of drilling aims to delineate the resource potential. The program will include exploration holes at Mazoa Hill as well as other high-potential exploration targets across the property.
“Golden Shield released encouraging results … In January, we will initiate a 3,000 metre drill program that will determine the vertical depth and resource potential at Mazoa Hill and the potential of the other targets, Pancake Creek being the most compelling," executive chair Leo Hathaway said.
Meanwhile, ongoing reverse circulation drilling (91 holes have been drilled to date, spanning 4,597 metres) is building up the company’s picture of the property. The continuing RC campaign is similarly expected to be followed up by higher precision diamond drill holes.
Also, the company noted that its geologists have been working with an external consultant to review Mazoa Hill data to identify the most cost-effective way to explore this high-grade deposit and prepare a current mineral resource estimate.