Guyana Goldfields Inc. (TSX: GUY) has announced that ongoing drilling at the Company's 100% owned Aurora Gold Project has intercepted significant widths and grades of gold mineralization, extending the previously announced new discoveries to vertical depths of 420 meters at Aleck Hill and 500 meters at the Mad Kiss area.
The project is currently the subject of a definitive feasibility study to be completed in Q4 2011 with a resource estimate drill cut-off date of June 30, 2011. Prior to that, the Company is preparing an updated resource estimate to be announced in mid-February 2011 which will include all known mineralization up to mid-November 2010.
Assay results from fifteen (15) new drill holes in the new Aleck Hill zone are reported hereunder. Highlights include drill hole AHD-145 which returned 50m @ 3.9 g/t Au (3.02 g/t Au cut to 25 g/t Au) at a vertical depth of 420 meters. Included within this broad intercept is a high-grade zone of 16m @ 10.59 g/t Au (7.85 g/t Au cut to 25 g/t Au). In addition, drill hole AHD-161 intercepted 62.44m @ 2.68 g/t Au including the following high-grade intercepts:
- 6.08m @ 8.33 g/t Au
- 6.06m @ 5.11 g/t Au
- 6.20m @ 8.92 g/t Au
These results demonstrate the down-dip potential of the Aleck Hill resource and suggest significant potential for high-grade gold mineralization at depth. True widths of gold mineralization in the Aleck Hill area vary from 25m to 50m and all gold zones remain open to depth.
Drilling in the Mad Kiss zones (west, east and main) also continues to expand previously announced new areas of gold mineralization. Nineteen (19) new drill holes are announced hereunder.
Highlights include:
- MKD-99 - 16m @ 4.12 g/t Au (including 4m @ 10.95g/t Au)
- MKD-107 - 18m @ 2.03 g/t Au (including 3m @ 11.60g/t Au) and - 8m @ 5.17 g/t Au
- MKD-109 - 8m @ 7.13 g/t Au
- MKD-111 - 13.95m @ 4.08 g/t Au
True widths of gold mineralization in the Mad Kiss zones vary from 10m to 35m and all gold zones remain open to depth. The results will be included in an updated resource estimate for the Aurora Gold Project, to be released in mid-February 2011.
Separately, the Company reports that it remains on track to provide key findings of the initial resource estimate from the Sulphur Rose gold discovery at Aranka to be delivered within the next 2 weeks.
Source: Guyana Goldfields Inc.