Golden Shield Resources (CSE:GSRI) Inc has revealed new assay results from the initial seven holes of its 11 hole, 3,100-metre Phase Two drill program at its flagship Marudi Mountain gold project in southwestern Guyana.
Highlights from the results include 7.58 grams per ton (g/t) gold over 31 metres and 4.95 g/t gold over 10 metres at the Mazoa Hill prospect on the project.
Hole MH-22-21 intersected the Quartz Metachert unit approximately 50 metres down dip of the previously released intercept of 58 metres grading 9.10 g/t from 142.5 metres down the hole in MH-21-04, according to a release.
READ: Golden Shield Resources announces drill results from initial hole at Mazoa Hill in southwestern Guyana
Golden Shield called the 58-metre down dip step-out “significant,” adding that the high-grade mineralization remains open to depth.
Holes MH-22-17 and MH-22-18 were down dip step-outs from hole MH-22-16, extending mineralization approximately 90 metres down dip, the company added.
Grade appears to increase with depth between the latest two holes with the lowermost intercept of 10 metres grading 4.95 g/t gold from 248 metres down the hole in MH-22-18, according to the firm. This intercept included 2 metres grading 19.06 g/t old from 248 metres down the hole and remains open to depth.
"This round of drill results highlights that Mazoa Hill remains open to depth, centered around the high-grade central zone, intercepted in holes MH-22-21 and MH-21-04, and confirms Golden Shield's re-interpretation,” vice president exploration Colin Porter said in a statement.
“Once all results are received a follow-up program will be designed to drill deeper and explore for lateral extensions.”
Following the completion of the Phase Two drill program, Golden Shield said its geologists and field crews will focus advancing existing prospects to drill stage, if merited, and exploration for additional prospects.
Additional drilling will be planned at Mazoa Hill once Phase Two drill results are in, the firm said.
Work programs for Golden Shield's two other projects, Arakaka and Fish Creek, are being finalized and are expected to start in the second half of 2022.
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