VANCOUVER, Nov. 15, 2011 /PRNewswire/ - Guyana Frontier
Mining Corp. ("Guyana Frontier")
is pleased to announce the results of recently received copper
analyses from 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 from December 2010 to April
2011. The gold results from the drilling program were
previously reported on June 16,
2011.
The Sardine Hill drill holes intersected
strongly weathered to fresh and unoxidized saprolite, and host
bedrock, with characteristic
chlorite-ankerite-sericite-tourmaline-epidote alteration.
Widespread disseminated pyrite and lesser chalcopyrite,
bornite-magnetite, and traces of arsenopyrite with gold occur
within parallel and sub-parallel quartz veinlets along foliation
planes. The style of gold-copper mineralization and alteration
assemblages are similar to the Groete Creek and Toroparu projects
in Guyana. In general,
multi-element analyses from Sardine Hill indicate copper results
are only moderately anomalous, with no obvious correlation between
gold and copper values. For example, drill hole SH11-04 intersected
1.33 grams/tonne gold over 73.5 metres (estimated true width 61.01
metres) but averaged 0.06% copper over the same interval.
Conversely, the best copper intersection in hole SH11-16 averaged
0.30% Cu with 0.56 grams/tonne gold over 94.5 metres (estimated
true width 78.44 metres).
No significant values of other metals were
detected in the follow-up multi-element analyses. Certain elements
such as barium and molybdenum are elevated within higher grade gold
intersections, and those elements may be useful as a geochemical
guide to gold mineralization at Sardine Hill.
The newly received copper results and previously
reported gold results from the 2010-2011 drill program are
presented in Table 1 below.
Table 1. Sardine Hill 2010-2011
Diamond Drilling Results: Gold and Copper Values
Drill
Hole
Number |
Final
Depth
(m) |
Planned
Bearing/
Inclination
(degrees) |
From
(m) |
To
(m) |
Interval
(m) |
Estimated
True Width
(m) |
Gold
Intercept
(grams/
tonne) |
Copper
Intercept
(percent) |
SH10-01 |
79.5 |
90 /-50 |
4.30 |
30.0 |
25.7 |
14.91 |
0.37 |
NSV* |
|
|
|
53.5 |
58.5 |
5.0 |
2.90 |
0.98 |
NSV |
SH11-02 |
207.0 |
90 /-50 |
32.8 |
41.5 |
8.7 |
5.05 |
0.30 |
0.05 |
|
|
|
49.0 |
52.0 |
3.0 |
1.74 |
0.38 |
NSV |
|
|
|
96.35 |
100.0 |
3.65 |
2.12 |
0.04 |
0.42 |
SH11-03 |
197.0 |
90 /-50 |
0.0 |
47.78 |
47.78 |
39.66 |
0.97 |
0.03 |
SH11-04 |
177.0 |
90 /-50 |
0.0 |
75 |
73.5 |
61.01 |
1.33 |
0.06 |
|
|
|
79.5 |
97.5 |
18.0 |
14.94 |
1.09 |
0.03 |
SH11-05 |
223.0 |
90 /-50 |
0.0 |
16.5 |
16.5 |
13.70 |
0.74 |
0.02 |
SH11-06 |
187.5 |
90 /-50 |
4.5 |
10.5 |
6.0 |
4.98 |
0.43 |
0.07 |
|
|
|
19.5 |
27.0 |
7.5 |
6.23 |
1.14 |
0.04 |
|
|
|
34.5 |
81.0 |
46.5 |
38.60 |
1.10 |
0.06 |
|
|
|
84.0 |
111.55 |
27.55 |
22.87 |
0.45 |
0.05 |
|
|
|
117.0 |
125.75 |
8.75 |
7.26 |
0.18 |
0.02 |
|
|
|
134.07 |
138.5 |
4.43 |
3.68 |
0.22 |
0.06 |
|
|
|
157.5 |
164.2 |
6.7 |
5.56 |
NSV |
0.28 |
SH11-07 |
164.2 |
90 /-50 |
0.0 |
138.30 |
138.30 |
114.79 |
0.74 |
0.12 |
SH11-08 |
165.0 |
90 /-50 |
6.0 |
37.50 |
31.50 |
26.15 |
0.87 |
0.05 |
|
|
|
48.0 |
54.0 |
6.0 |
4.98 |
0.82 |
0.04 |
|
|
|
58.2 |
121.5 |
63.3 |
52.54 |
0.76 |
0.07 |
|
|
|
126.0 |
132.0 |
6.0 |
4.98 |
0.73 |
0.06 |
|
|
|
135.0 |
143.5 |
8.5 |
7.06 |
0.46 |
0.06 |
|
|
|
154.5 |
162.0 |
7.5 |
6.23 |
0.02 |
0.32 |
SH11-09 |
136.5 |
90 /-50 |
0.0 |
67.5 |
67.5 |
56.03 |
1.68 |
0.04 |
SH11-10 |
210.0 |
90 /-50 |
0.0 |
21.0 |
21.0 |
17.43 |
0.72 |
0.08 |
|
|
|
25.25 |
52.5 |
27.24 |
22.61 |
1.34 |
0.04 |
|
|
|
55.35 |
62.6 |
7.25 |
6.02 |
0.72 |
0.03 |
|
|
|
78.0 |
85.6 |
7.6 |
6.31 |
0.21 |
0.05 |
|
|
|
89.45 |
91.77 |
2.32 |
1.93 |
0.22 |
0.02 |
SH11-11 |
93.0 |
90 /-50 |
0.0 |
9.0 |
9.0 |
7.47 |
0.72 |
0.14 |
|
|
|
19.5 |
93.0 |
73.5 |
61.01 |
1.12 |
0.02 |
SH11-12 |
157.0 |
90 /-50 |
0.0 |
7.5 |
7.5 |
6.23 |
0.89 |
0.16 |
|
|
|
19.5 |
109.5 |
90.0 |
74.70 |
1.14 |
0.03 |
SH11-13 |
189.0 |
90 /-50 |
0.0 |
67.5 |
67.5 |
56.03 |
1.15 |
0.04 |
SH11-14 |
183.0 |
90 /-50 |
0.0 |
17.0 |
17.0 |
14.11 |
0.61 |
0.04 |
|
|
|
19.6 |
40.5 |
20.9 |
17.35 |
0.33 |
0.03 |
SH11-15 |
177.0 |
90 /-50 |
0.0 |
24.3 |
24.3 |
20.17 |
0.89 |
0.03 |
SH11-16 |
181.0 |
90 /-50 |
39.0 |
55.5 |
16.5 |
13.70 |
0.60 |
0.09 |
|
|
|
60.0 |
64.8 |
4.8 |
3.98 |
1.12 |
0.06 |
|
|
|
72.0 |
166.5 |
94.5 |
78.44 |
0.56 |
0.30 |
SH11-17 |
186.0 |
90 /-50 |
0.0 |
8.0 |
8.0 |
6.64 |
0.32 |
0.06 |
|
|
|
16.5 |
49.0 |
32.5 |
26.98 |
0.81 |
0.03 |
|
|
|
52.0 |
94.34 |
42.34 |
35.14 |
0.78 |
0.03 |
SH11-18 |
163.5 |
90 /-50 |
0.0 |
37.5 |
37.5 |
31.13 |
1.43 |
0.02 |
*No Significant Values
NOTE: The changes in estimated true widths,
which average approximately 13% longer in holes SH11-03 to SH11-18
relative to earlier disclosure of these drilling results, are based
on a detailed review of structural data by the Qualified Person for
Sardine Hill, David Bending, M.Sc.,
P.Geo., in conjunction with the Guyana field team. Mr. Bending
represents that these re-calculated true width estimates have a
higher degree of accuracy, recognizing that in the tropical
weathering environment some local rotation of structures and
apparent dips is common in the upper portion of the laterite
profile and interpretation of the results requires special
attention.
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 and
copper 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 the
stated intercepts.
Analytical
Methods
All drill samples were 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 were
conducted in Activation's Venezuelan facility while multi-element
analyses and copper assays were 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 was subject to Fire Assay
Pre-concentration gravimetric analysis, with results reported in
grams per tonne with a lower limit of 0.03 grams per tonne. A
separate sub-sample, 0.25 grams of the pulp was subject to
four-acid digestion and analysis by ICP/OES (Optical Emission
Spectroscopy) to provide analyses for 35 elements.
The technical work disclosed in this document
was planned and supervised by David
Bending, M.Sc., P.Geo., who is a Qualified Person as defined
in National Instrument 43-101, and is responsible for all technical
information contained in this news release.
To view a map of Sardine Hill visit Guyana
Frontier's website at:
http://www.guyanafrontier.com/s/SardineHill.asp.
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.