VANCOUVER, March 30 /PRNewswire/ - Guyana Frontier Mining
Corp. ("Guyana Frontier" or the
"Company", formerly known as Shoreham Resources Ltd.) (TSXV: GYG)
announces the conclusion of a diamond drilling program on the
Borland Lake target area at the Favourable Lake Project in
Ontario, located approximately 200
kilometres north of Red Lake,
Ontario. The Favourable Lake Project is a joint venture with
Gold Canyon Resources Inc. ("Gold Canyon") with Guyana Frontier
holding a 70.3% interest, and Gold Canyon holding a 29.7%
interest.
Two holes totaling 236 metres were completed
from the ice of Borland Lake, targeting a mineralized zone that
exhibited significant historical intersections of silver, with
accompanying minor values of gold, lead and zinc. Core has been
split and sampled, and analytical results will be released after
their receipt, compilation and interpretation. Deteriorated winter
road conditions necessitated early termination of the drilling
program.
The 2011 drilling program achieved two
objectives: (1) to test the historical silver mineralized zone,
last drilled by a previous operator in 1987, and (2) to demobilize
the drill and camp equipment at Borland Lake left on site since the
conclusion of the 2010 drilling program. The results of the 2011
drilling program will be correlated to the 2008 Titan 24 survey to
aid in the interpretation of the geophysical response from the
historical zone, and to potentially identify and target any
adjacent zones of interest that were unknown to previous
explorers.
David Bending,
M.Sc., P.Geo., President and CEO of Guyana Frontier, is a qualified
person as defined in National Instrument 43-101. He is responsible
for and has reviewed all technical information contained in this
news release.
Neither the TSX Venture Exchange nor its
Regulation Services Provider
(as that term is defined in the policies of the TSX Venture
Exchange)
accepts responsibility for the adequacy or accuracy of this
release.
FORWARD LOOKING STATEMENTS
This news release contains forward-looking
statements that are based on the Company's current expectations and
estimates. Forward-looking statements are frequently characterized
by words such as "plan", "expect", "project", "intend", "believe",
"anticipate", "estimate", "suggest", "indicate" and other similar
words or statements that certain events or conditions "may" or
"will" occur, and include, without limitation, statements regarding
the anticipated receipt of analytical results from completed
exploration activities and the Company's plans with respect to the
further exploration and development of its projects. Such
forward-looking statements involve known and unknown risks,
uncertainties and other factors that could cause actual events or
results to differ materially from estimated or anticipated events
or results implied or expressed in such forward-looking statements.
Any forward-looking statement speaks only as of the date on which
it is made and, except as may be required by applicable securities
laws, the Company disclaims any intent or obligation to update any
forward-looking statement, whether as a result of new information,
future events or results or otherwise. Forward-looking statements
are not guarantees of future performance and accordingly undue
reliance should not be put on such statements due to the inherent
uncertainty therein.
SOURCE Guyana Frontier Mining Corp.