Golden Shield Resources (CSE:GSRI, OTCQB:GSRFF) announced that it has commenced a fully-funded diamond drill program at its Marudi Mountain gold project in Guyana.
The company said the first hole of the program, currently drilled to 270 meters, is testing the depth of high-grade gold mineralization at Mazoa Hill to guide resource estimation and help delineate new high-potential exploration targets.
It follows up on previous drilling at Mazoa Hill which returned intercepts including 50 meters grading 9.10 grams per ton of gold and 9.75 meters grading 11.9 grams per ton of gold.
"Golden Shield released encouraging results including 50 meters grading 9.10 grams per ton gold from Mazoa Hill in 2022, and continued stepping out on 50 fences to depth, to more than 180 meters beyond the Historic Pit Limiting Shell,” Golden Shield executive chairman Leo Hathaway said in a statement.
“In January we will initiate a 3,000 meter 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."
The company also noted it is processing data from reverse circulation drill holes at IP-6, Marudi North and Pancake Creek. Results from these prospects are expected soon.
Golden Shield was founded by experienced professionals who are convinced that there are many more gold mines yet to be found in Guyana. It has three wholly controlled gold projects: Marudi Mountain, Arakaka and Fish Creek.