Guyana Goldstrike Completes 3-D Modelling of Gold Assays and Drill Intercepts

Drilling Data to be Used to Establish a Current Gold Mineral Resource for Marudi Gold Project

VANCOUVER, BC, CANADA, October 26, 2017 /EINPresswire.com/ -- Guyana Goldstrike Inc.(TSX.V: GYA) (FSE: 1ZT) is pleased to announce that it has received the 3D modelling of legacy drill data from mining engineering firm MineIt Consulting Inc. (“MineIt”) on the Company’s Marudi Gold Project ("Marudi") located in Guyana, South America.

Marudi has had a substantial amount of geological work completed by previous mining operators, such as Noranda Inc., Sutton Resources Ltd., and Vanessa Ventures Ltd. A total of over 42,000 metres of historical diamond drilling equalling 141 drill holes has been performed on the property, of which 90 holes are represented in the modelling. As a result of this prior exploration, Guyana Goldstrike has the benefit of a large data bank of geological information that has assisted the Company in furthering its exploration objectives towards the goal of establishing a current mineral resource.

MineIt was given access to the geological information and created a database of the drill hole statistics and assays from the two main mineralized zones: Marudi North and Mazoa Hill (see figure 1 below). 3D models were then constructed using Corebox (www.corebox.net) that allow rotation and viewing of drill patterns in all directions.

Examples of the types of mineralization and assays at Marudi are shown in Figures 2 and 3 and Table 1 below. A plan and a vertical longitudinal section parallel to the strike of the mineralization, showing each of Mazoa Hill and Marudi North drill holes are presented in figures 2 and 3. The observer is looking at Az 030 towards the longitudinal sections.

IMPORTANT NOTE: The Figures and the 3D modeling can be viewed in full scale on the homepage of the Company’s website: www.guyanagoldstrike.com.

The Company has reviewed this and other data and has determined that both Marudi North and Mazoa Hill appear to be open to mineralization in multiple directions and therefore favourable to further exploration and development. The Marudi property remains over 95% unexplored with a number of highly-prospective areas identified as a priority for further exploration and evaluation.

Mr. Peter Berdusco, President and Chief Executive Officer of Guyana Goldstrike stated, "We are very pleased with the modelling MineIt has produced. The data clearly demonstrates that significant gold mineralization was encountered during the course of drilling over the years.” Mr. Berdusco continued, “We are now well positioned to build on this work and continue the exploration on Marudi, which we believe can fast track us to providing a new mineral resource estimate - this gives us a clear advantage when compared to many other exploration-stage juniors.”

MARUDI NORTH AND MAZOA HILL AND MINING CAMP

Figure 1: Plan View of Marudi North and Mazoa Hill target areas with mining camp


Below are the images of the two main mineralized zones, Marudi North and Mazoa Hill, with historic drill intercepts of gold grades categorized in a color-coded range up to 200 g/t.

MARUDI NORTH MINERALIZED ZONE

Figure 2a: Plan View Marudi North Historic Drill Holes


MAZOA HILL MINERALIZED ZONE

Figure 3a: Plan View Mazoa Hill Historic Drill Holes


Qualified Person

Locke Goldsmith, M.Sc., P. Eng, P. Geo, Chief Geologist and Exploration Manager for the Company, is a Qualified Person in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects. Mr. Goldsmith has reviewed and approved the technical content of this news release.

About MineIt Consulting Inc.

MineIt Consulting Inc. with offices located in Vancouver, BC, Canada, is a leading mining engineering consulting firm serving the Canadian mining industry. The company provides engineering services that include Mining Engineering, Project Evaluation, Geotechnical Engineering, and Process & Metallurgy services.
Past clients of MineIt include: Goldcorp, Gold Standard, Terrane Metals, Victory Nickel, Thompson Creek, Riverside Resources, MX Gold, Anglo American, Alexco Resources and North American Tungsten.

About the Marudi Gold Project

The Marudi Gold Project (the “Project”) is the Company's flagship project located in Guyana, South America. Marudi is unique in that it has three known gold bearing areas, specifically the alluvial areas, the saprorlite overburden, and the underlying hard-rock. 42,000 metres of historic diamond drilling (141 holes) has been performed on the Project's hard-rock by prior operators. This historical work has delineated several historical mineral resource estimates on the Project.

www.guyanagoldstrike.com

David Joseph
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