Another foreign company boasts to shareholders of mega gold find in Guyana

May 19, 2022 News

– Guyanese in the dark

Kaieteur News – Canadian mining company, Golden Shield Resources Inc., on Tuesday boasted on its website in a release to its shareholders that the results of its drilling activities in Guyana have yielded significant results.

Minister of Natural Resources, Vickram Bharrat

To date the Guyana Government, namely the Ministry of Natural Resources responsible for the sector, is yet to make a formal announcement as it relates to the drill results from an initial hole of a 13-hole, 3,000-metre programme at Mazoa Hill, the most advanced of eight prospects at the company’s flagship, 5,457-hectare, Marudi Mountain gold project located in the Rupununi District of southwestern Guyana namely the “Marudi Project.”
Golden Shield is currently drilling the ninth hole of its 3,000-metre, 13-hole Phase 2 drill programme at Mazoa Hill.
Drilling of the remaining four holes of the programme is progressing and will be finished before the end of this month.
According to the company in a release, Golden Shield interprets gold mineralisation to occur in a series of en-echelon high-grade shoots defined by intense silicification within a broader silicified zone, previously described as quartzite-metachert (QMC).
Dr. Colin Porter, Vice President, Exploration of Golden Shield in making the announcement said, “because historical drill holes did not intersect the lower limb extension, previous models assumed the QMC host-rock terminated at depth.

A Map outlining the entity’s concession

However, Golden Shield’s reinterpretation of the Mazoa Hill mineralisation has shown that the deposit is open at depth along the lower limb extension. This will allow the Golden Shield team to continue to define a new, updated resource at Mazoa Hill, as we continue to step out laterally, and at depth.”
As such, the company noted that following the completion of the Phase 2 drill programme, company geologists and field crews will focus on advancement of the existing prospects to drill stage, if merited, and exploration for additional prospects, “Once results from Phase 2 drilling are received and additional drilling will be planned.”
The company also announced the signing of an agreement with OGIB Corporate Bulletin (OGIB) for a six-month term for which the company will provide certain marketing, online corporate communications, publishing, writing and investor relations services.
Leo Hathaway, P. Geo, Executive Chair of Golden Shield, and a ‘Qualified Person’ as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects, has reviewed, verified, and approved the scientific and technical information in this news release and has verified the data underlying that scientific and technical information.
Golden Shield Resources was founded by experienced professionals who are convinced that there are gold mines yet to be found in Guyana. The company is said to be well-financed and has three wholly controlled high-grade gold projects: Marudi Mountain, Arakaka and Fish Creek.
Notably this information has only been made public by way of the company making announcements to its shareholders and not by the Guyana government, the elected leaders that are expected to manage the country’s resources.

Discover more from Kaieteur News

Subscribe to get the latest posts sent to your email.

Latest News