VANCOUVER,
June 16, 2011 /PRNewswire/ - Guyana
Frontier Mining Corp. ("Guyana
Frontier") is pleased to announce the results of a diamond drilling
program at the Sardine Hill Gold Project located in Guyana, South
America. A total of 3,076 metres were drilled in 18 holes.
Drill core logging and sampling has been completed, and analytical
results for gold have been received, compiled and interpreted.
Further analytical results for copper and other elements are
pending.
Highlights of the 2010-2011 Drill
Program
Known gold mineralization at Sardine Hill occurs in
saprolite (deeply-weathered bedrock) that may be up to 150 metres
thick on portions of the property. Thirteen of the eighteen drill
holes intersected gold-bearing saprolite from surface,
including:
- DDH SH11-04 intersected 1.33 grams/tonne gold over 73.5 metres
(estimated true width 53.66 metres);
- DDH SH11-07 intersected 0.73 grams/tonne gold over 137.38
metres (estimated true width 101.38 metres);
- DDH SH11-09 intersected 1.68 grams/tonne gold over 67.5 metres
(estimated true width 49.28 metres);
- Drill holes SH10-01 and SH11-02 confirmed the presence of gold
mineralization 600 and 660 meters respectively north of the
previously known gold mineralization.
Fourteen of the eighteen drill holes were collared
along east-west sections at 50 metre intervals along 300 metres of
strike length to confirm the grade and geometry of shallow portions
of the historical gold-mineralized zone. The main target area of
Guyana Frontier's 2010-2011 drill program was previously mapped by
auger geochemistry, trenching and diamond drilling by International
Roraima Exploration in 1995-1996, and by Newmont Overseas
Exploration in 1999. To view a map of Sardine Hill visit Guyana
Frontier's website at:
http://www.guyanafrontier.com/s/SardineHill.asp.
Two of the drill holes, SH11-05 and SH11-18, were
drilled to define an interpreted structure which offsets the
northern portion of the mineralized body as defined by historical
work. Holes SH10-01 (lost at 79.5 meters) and SH11-02 confirmed the
presence of gold mineralization 600 and 660 metres further north of
the previously known mineralized body. Guyana Frontier intends to
conduct further geological mapping, ground geophysics and drilling
during future work programs to help evaluate the extensions of the
mineralized zone.
The Sardine Hill drill holes intersected intensely
weathered saprolite, showing pervasive chlorite, ankerite and
sericite alteration assemblages, varying amounts of tourmaline in
veining, widespread disseminated pyrite and lesser chalcopyrite in
foliated and veined zones. None of the drill holes were extended to
test the projected fresh bedrock portion of the mineralized
zone.
Saprolitic weathering is viewed as a positive
aspect of the Sardine Hill gold mineralization because the
weathered rock is generally softer and the gold mineralogy is less
complex than is commonly the case for unweathered bedrock.
Gold results from this drill program are presented
in Table 1.
Table 1. Sardine Hill 2010-2011
Diamond Drilling Results
Drill Hole
Number |
Final
Depth
(m) |
Planned
Bearing/
Inclination
(degrees) |
From
(m) |
To
(m) |
Interval
(m) |
Estimated
True Width
(m) |
Gold
Intercept
(grams/tonne) |
SH10-01 |
79.5 |
90 /-50 |
4.30 |
30.0 |
25.7 |
14.91 |
0.37 |
|
|
|
53.5 |
58.5 |
5.0 |
2.90 |
0.98 |
SH11-02 |
207.0 |
90 /-50 |
32.8 |
41.5 |
8.7 |
5.05 |
0.30 |
|
|
|
49.0 |
52.0 |
3.0 |
1.74 |
0.38 |
SH11-03 |
197.0 |
90 /-50 |
0.0 |
47.78 |
47.78 |
34.88 |
0.97 |
SH11-04 |
177.0 |
90 /-50 |
0.0 |
75 |
73.5 |
53.66 |
1.33 |
|
|
|
79.5 |
97.5 |
18.0 |
13.14 |
1.09 |
SH11-05 |
223.0 |
90 /-50 |
0.0 |
16.5 |
16.5 |
12.05 |
0.74 |
SH11-06 |
187.5 |
90 /-50 |
4.5 |
10.5 |
6.0 |
4.38 |
0.43 |
|
|
|
19.5 |
27.0 |
7.5 |
5.48 |
1.14 |
|
|
|
34.5 |
81.0 |
46.5 |
33.95 |
1.10 |
|
|
|
84.0 |
111.55 |
27.55 |
21.11 |
0.45 |
|
|
|
117.0 |
125.75 |
8.75 |
6.39 |
0.18 |
|
|
|
134.07 |
138.5 |
4.43 |
3.23 |
0.22 |
SH11-07 |
164.2 |
90 /-50 |
0.0 |
138.88 |
137.38 |
101.38 |
0.73 |
SH11-08 |
165.0 |
90 /-50 |
6.0 |
37.50 |
31.50 |
23.0 |
0.87 |
|
|
|
48.0 |
54.0 |
6.0 |
4.38 |
0.82 |
|
|
|
58.2 |
121.5 |
63.3 |
46.21 |
0.76 |
|
|
|
126.0 |
132.0 |
6.0 |
4.38 |
0.73 |
|
|
|
135.0 |
143.5 |
8.5 |
6.21 |
0.46 |
SH11-09 |
136.5 |
90 /-50 |
0.0 |
67.5 |
67.5 |
49.28 |
1.68 |
SH11-10 |
210.0 |
90 /-50 |
0.0 |
21.0 |
21.0 |
15.33 |
0.72 |
|
|
|
25.25 |
52.5 |
27.24 |
19.89 |
1.34 |
|
|
|
55.35 |
62.6 |
7.25 |
5.29 |
0.72 |
|
|
|
78.0 |
85.6 |
7.6 |
5.55 |
0.21 |
|
|
|
89.45 |
91.77 |
2.32 |
1.69 |
0.30 |
SH11-11 |
93.0 |
90 /-50 |
0.0 |
9.0 |
9.0 |
6.57 |
0.72 |
|
|
|
19.5 |
93.0 |
73.5 |
53.66 |
1.12 |
SH11-12 |
157.0 |
90 /-50 |
0.0 |
7.5 |
7.5 |
5.48 |
0.89 |
|
|
|
19.5 |
109.5 |
90.0 |
65.70 |
1.14 |
SH11-13 |
189.0 |
90 /-50 |
0.0 |
67.5 |
67.5 |
49.28 |
1.15 |
SH11-14 |
183.0 |
90 /-50 |
0.0 |
17.0 |
17.0 |
12.41 |
0.61 |
|
|
|
19.6 |
40.5 |
20.9 |
15.26 |
0.33 |
SH11-15 |
177.0 |
90 /-50 |
0.0 |
24.3 |
24.3 |
17.74 |
0.89 |
SH11-16 |
181.0 |
90 /-50 |
39.0 |
55.5 |
16.5 |
12.05 |
0.60 |
|
|
|
60.0 |
64.8 |
4.8 |
3.50 |
1.12 |
|
|
|
72.0 |
166.5 |
94.5 |
68.99 |
0.56 |
SH11-17 |
186.0 |
90 /-50 |
0.0 |
8.0 |
8.0 |
5.84 |
0.32 |
|
|
|
16.5 |
49.0 |
32.5 |
23.73 |
0.81 |
|
|
|
52.0 |
94.34 |
42.34 |
30.91 |
0.78 |
SH11-18 |
163.5 |
90 /-50 |
0.0 |
37.5 |
37.5 |
27.38 |
1.43 |
General Criteria for Calculation of
Mineralized
Intercepts
Sample and assay intervals are based on drilled
intervals with controlled start and end depths. The estimate of
grade across width is based on the multiple of reported gold values
and reported sample intervals. Core recoveries ranged from 100%, to
less than 50% in short intervals, and all drilled intervals were
treated equally in the weighted mean calculations. Sequences of
samples with less than 0.15 grams of gold per tonne across more
than three contiguous samples are not included in stated
intercepts.
Analytical
Methods
All drill samples are shipped directly to the
independent preparation facility of Activation Laboratories Ltd.
("Activation") in Georgetown,
Guyana ("ActLabs Guyana") for
sample preparation. All gold fire assay determinations are
conducted in Activations' Venezuelan facility while multi-element
analyses and copper assays are completed at its Ancaster, Ontario headquarters.
At ActLabs Guyana, all drill samples were crushed
to 90% passing -10 mesh (1.7 mm), then split to provide a 250 gram
subsample which is pulverized to 95% passing 150 mesh (105
microns). A 50 gram split is subject to Fire Assay Preconcentration
gravimetric analysis, with results reported in grams per per tonne
with a lower limit of 0.03 grams per tonne. A separate
sub-sample, 0.25 grams of the pulp is subject to four-acid
digestion and analysis by ICP/OES (Optical Emission Spectroscopy)
to provide analyses for 35 elements. Upon receipt of all
analytical results from the 2010-2011 drilling program, a selected
suite of gold bearing intercepts will be re-subsampled for
supplemental analysis using screen fire metallics to evaluate
possible "nugget effect" to determine if coarse gold is present in
the samples.
An airborne magnetic, VLF (very low frequency) and
radiometric survey was completed by Terraquest Ltd. in February,
2011 at Sardine Hill. A total of 649 line kilometres were flown.
Guyana Frontier's technical team is working to integrate the
airborne data with other geochemical and geological data in support
of future drill target development.
The technical work disclosed in this document was
planned and supervised by David
Bending, M.Sc., P.Geo., President and CEO of Guyana
Frontier, who is a Qualified Person as defined in National
Instrument 43-101, and is responsible for all technical information
contained in this news release.
About Sardine Hill
Sardine Hill consists of one Large Scale
Prospecting Licence totaling 10,427 acres (4,219 hectares) located
approximately 90 kilometres from the capital city of Georgetown.
Guyana Frontier has the right to earn a 100% interest in Sardine
Hill from a private Guyanese corporation, subject to a 3% net
smelter returns royalty. Pursuant to an option agreement dated
May 14, 2010 between Guyana Frontier
and Mulgravian Ventures Corporation ("Mulgravian"), Mulgravian has
an option to earn a 51% interest in Sardine Hill from Guyana
Frontier. Guyana Frontier is the operator of Sardine Hill work
programs.
About Guyana Frontier
Guyana Frontier is a public mineral exploration
company listed on the TSX Venture Exchange (TSX-V: GYG), and is
focused on the exploration, discovery and development of precious
metals deposits located within Guyana, South
America. Guyana Frontier began acquiring interests in
Guyanese exploration properties in 2007, and now holds various
rights to obtain working interests in approximately 342,000 acres
(138,400 hectares) of prospective lands. Guyana Frontier's main
asset is the Marudi Mountain Project, which was the subject of
extensive historical exploration, but has not been the focus of a
diamond drilling program since 2004. Guyana Frontier's goal is to
develop a significant gold resource at the Marudi Mountain Project,
and to explore its other Guyanese projects using funding from
exploration partners.
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
Forward-looking statements are based on a number
of material factors and assumptions, including, the result of
drilling and exploration activities, that contracted parties
provide goods and/or services on the agreed timeframes, that
equipment necessary for exploration is available as scheduled and
does not incur unforeseen break downs, that no labour shortages or
delays are incurred, that plant and equipment function as
specified, that no unusual geological or technical problems occur,
and that laboratory and other related services are available and
perform as contracted. Forward-looking statements involve
known and unknown risks, future events, conditions, uncertainties
and other factors which may cause the actual results, performance
or achievements to be materially different from any future results,
prediction, projection, forecast, performance or achievements
expressed or implied by the forward-looking statements. Such
factors include, among others, the interpretation and actual
results of current exploration activities; changes in project
parameters as plans continue to be refined; future prices of
minerals; possible variations in grade or recovery rates; failure
of equipment or processes to operate as anticipated; the failure of
contracted parties to perform; labour disputes and other risks of
the mining industry; delays in obtaining governmental approvals or
financing or in the completion of exploration, as well as those
factors disclosed in the company's publicly filed documents.
Although Guyana Frontier has attempted to identify important
factors that could cause actual actions, events or results to
differ materially from those described in forward-looking
statements, there may be other factors that cause actions, events
or results not to be as anticipated, estimated or intended. There
can be no assurance that forward-looking statements will prove to
be accurate, as actual results and future events could differ
materially from those anticipated in such statements. Accordingly,
readers should not place undue reliance on forward-looking
statements.
SOURCE Guyana Frontier Mining Corp.