Guyana Goldstrike Inc.
Guyana Goldstrike Inc. is a Canadian gold exploration and development company with a focus on near-term production. The Companys operations are in Guyana, South America where its flagship asset the Marudi Gold Project is under development.
Guyana has a long history of gold production. The country currently produces over 400k oz of gold per annum. There is also a history of representation of mining companies in the country, especially Canadian representation, with such notable companies as Guyana Goldfields and Sandspring Resources. All gold production occurs within the Guiana Shield which has geological continuity with West Africa. However, the shield in comparison to West Africa is under-explored and presents strong exploration and development upside. The country is English speaking, with British common law and has an established Mining Act. In terms of exploration, Guyana is a premier world-class district.
Marudi Gold Project
Guyana Goldstrike is developing the Marudi Gold Project located in Guyana, South America. It is an advanced exploration and development project with a permitted mining license. The property lies within the Guiana Shield which underlies Venezuela, Guyana (previously British Guiana), Suriname (previously Dutch Guiana) and French Guiana (or Guyane), as well as parts of Colombia, and Brazil. The Guiana Shield is host to a multitude of gold deposits in the region and has geological continuity with West Africa. The shield is also relatively under-explored when compared to West Africa.
Marudi is unique in that it has three known gold bearing areas, specifically the alluvial areas, the saporlite overburden and the lower hard-rock. 42,000 metres of diamond drilling (141 holes) has been performed on the property's hard-rock by prior operators. This historical work has delineated multiple historical mineral resource estimates on the Project.
There exists excellent exploration upside through exploration and development of previously identified, highly-prospective mineralized targets on the Project. The Project has all-season road access, infrastructure in place, with an established mining camp served by employees, service buildings, and a full-time mining manager.
Marudi Project Highlights
*This information is taken from a report prepared in March 2004 by consulting geologists for Vanessa Ventures (Guyana) Ltd. The information contained in report is based on estimates from the Mazoa Hill of some 760,000 ounces in 4,700,000 tonnes and the Marudi Mountain of 120,000 ounces based on 1,400,000 tonnes. The information was derived from surface expressions and average grades from bore holes where the results were greater 1 part per million. The other information is not known and the historic estimates does not use the CIM classifications and for that reason additional work would need to be done to upgrade or verify the historical estimate as current mineral resources.
Near-Term and Primary Objective
The Companys near-term and primary objective is to drill out and delineate a further 1-2 million hard rock ounces of gold which will add to the existing 760,000 historical ounces previously drilled on the property.
The drilling will consist of a multi-phase program designed to expand the properties two main development sites: Mazoa Hill and Marudi North.
Management and Directors
Peter D. Berdusco, President, Chief Executive Officer and Director
For the past 20 years Mr. Berdusco has been an investor, business consultant, senior executive officer and board member in the public and private sectors. Over the last seven years, he has financed projects for junior public resource companies, worldwide. In particular as CEO of Nexus Gold Corp. (TSX.V:NXS), he has financed exploration programs in Nevada, USA and Burkina Faso, West Africa.
Locke Goldsmith, M.Sc., P.Eng, P.Geo., Chief Geologist and Exploration Manager
Mr. Goldsmith has been a self-employed consulting mining exploration geologist since 1970 and has worked on projects worldwide.
Marshall Mintz, Country Manager, Guyana
Mr. Mintz has over 30 years experience in mining, exploration, operations planning and operations management in Asia, Canada and South America. He is owner and partner of Guyanese company Falcon Logistics Inc.
Donald J. Birak, M.Sc, Regis. Mem. SME, Fellow AusIMM, Independent Technical Director
Mr. Birak is a Consulting Geologist with over 37 years of experience in the minerals industry. He was Senior VP of Exploration and consultant of Coeur Mining. Currently, he serves as an Independent Director of Dolly Varden Silver Corp.
Scott Davis, CPA, CGA, Chief Financial Officer and Director
Mr. Davis is a partner of Cross Davis & Company LLP Chartered Professional Accountants. His experience includes CFO positions of several companies listed on the TSX Venture Exchange.
Rodney Stevens, CFA, Independent Director
Mr. Stevens is a CFA charter holder with over ten years experience in the capital markets.
Dr. Yingting (Tony) Guo, P.Geo., Advisor to the Board of Directors
Dr. Guo is the founder and Chairman of the Association of Chinese Canadian Mining Professionals in Canada. Dr. Guo has over 30 years' experience in the mining industries having worked for companies such as Jinshan Gold Mines, China Gold International, and Behre Dolbear Group.
Sha Liu, M.Sc., Director
Please refer to Guyana Goldstrike's website www.guyanagoldstrike.com for complete biographies.
On June 13, 2018, Guyana Goldstrike Inc. announced that the geological team has uncovered quartzite-metachert (host rock for gold mineralization) in the first three excavator trenches at the Marudi North–West Extension on its Marudi Gold Project located in Guyana, South America. The geological team has now expanded the trenching program in this area to continue tracing the host rock and associated gold mineralization.
Summary Report for 6 months Jan - June 2018 on GYA.V's activities and accomplishments
Commenced phase one of a multi-phase exploration program on Marudi Gold Project, Guyana
First trenching assayed up to 7.45 g/t in New Discovery of Gold Mineralization at Paunch Area
Second trenching assays up to 5.98 g/t Gold at Paunch Area
Produced 43-101 compliant mineral resource estimate report on the Mazoa Hill zone containing 259,100 indicated gold ounces within 4,428,000 tonnes grading 1.8 grams/tonne (g/t) and 86,200 inferred gold ounces within 1,653,000 tonnes grading 1.60 grams/tonne (g/t)
Completed a C$3.2 million strategic investment with Zijin Global Fund and Zijin Midas Exploration Fund LLC
Completed 3D interactive models of the legacy drill data from the Mazoa Hill and Marudi North zones
Received gold royalty payments from local alluvial mining activities
On June 7, 2018, Guyana Goldstrike Inc. announced that the Company’s geological team has commenced trenching, mapping and sampling at the Marudi North zone/West Extension area on its Marudi gold project located in the Guiana gold belt, Guyana, South America. It is important to note that the Marudi North zone has been drilled and assayed by previous operators, therefore the West Extension is an excellent follow up exploration target to determine if there's continuity of gold present in the area.
Locke Goldsmith, P.Eng., P.Geo., Vice-President of Exploration, reported: "New trenching at Marudi North/West Extension has commenced. One trench has been completed to date, including sampling, mapping and photography. At this trench an outcrop of quartzite-metachert, the host bedrock was identified and exposed at a depth of 2.5 metres. The Marudi North/West Extension has a very good potential for the discovery of gold."
On May 30, 2018, Guyana Goldstrike Inc. announced that the Company’s geological team has completed trenching, mapping and sampling at the Paunch area on its Marudi gold project located in the Guiana gold belt, Guyana, South America.
Locke Goldsmith, P.Eng., P.Geo., Vice-President of Exploration, stated: "These results are very encouraging as they confirm the presence of gold in the new discovery area. This is the first of nine areas of interest that we plan to trench over the coming months in preparation for a phase 1 drill program. The results obtained from trenches A and L with peak gold values of 7.45 and 5.98 g/t Au are located further south and are closer to the ridge top than the other lower values." Mr. Goldsmith continued, "This is suggestive that the gold dispersion is down slope due to transportation and originates from a nearby, yet undiscovered bedrock source."
On May 24, 2018, Guyana Goldstrike Inc. analyst report (http://www.guyanagoldstrike.com/images/Com_._Report_GYA.V_May_2018.pdf)
On May 15, 2018, Guyana Goldstrike Inc. has discovered new gold mineralization at the Paunch area on its Marudi gold project located in the Guiana gold belt in Guyana, South America. The assays up to 7.45 g/t in the new discovery. A total of 166.4 metres of surface trenching was completed at Paunch in 12 trenches, 95 sample intervals with 166 horizontal chip channel samples analyzed (including separated undersized and oversized samples) and 5 duplicates all taken at intervals of between 1-3 metres at the bottom of the trench walls to depths of 1-3 metres.
On May 09, 2018, Guyana Goldstrike Inc.'s geological team has completed preliminary trenching, mapping and sampling at the Paunch area on its Marudi gold project, located in the Guiana gold belt, Guyana, South America. Assay results will be announced when analyses have been received and maps are completed.
On May 03, 2018, Guyana Goldstrike Inc. has provided a corporate update on its Marudi gold project located in the Guiana gold belt, Guyana, South America. The company has accomplished the following milestones:
On February 27, 2018, Guyana Goldstrike Inc. announced that it has completed a non-brokered private placement of 13.9 million units at a price of 25 cents per unit for gross proceeds of $3.47-million.
Following completion of the placement, Gold Mountains Asset Management Ltd. (GMA) has control of 12.8 million common shares of the company, representing approximately 24.4 per cent of the company's current issued and outstanding common shares, and 12.8 million common share purchase warrants.
The Company also announced that its board of directors has approved the appointment Sha “Lisa” Liu as a director of the Company, effective March 1, 2018.
On February 21, 2018, Guyana Goldstrike Inc. announced that it has founding membership in the formation of an Ethereum blockchain strategic alliance for gold- and silver-asset-backed cryptotokens.
The founding members of the gold and silver Ethereum blockchain strategic alliance are as follows:
On February 20, 2018, Guyana Goldstrike Inc. announced that it has arranged a C$3.2 million strategic investment with Gold Mountains Asset Management Ltd. (GMA). The investment will be completed by Zijin Global Fund and Zijin Midas Exploration Fund LLC, both managed by GMA.
On February 16, 2018, Guyana Goldstrike Inc. announced that it has received C$3.2 million strategic investment from Gold Mountains Asset Management Ltd. (GMA), a wholly owned subsidiary of Zijin Mining Group. The investment will be completed by Zijin Global Fund and Zijin Midas Exploration Fund LLC, both managed by GMA.
On February 5, 2018, Guyana Goldstrike Inc. provided an update on its greenfield exploration activities including drill results from a combined 2,500 meters reconnaissance-style drill program at its Iroma and Wynamu prospects. Guyana reported significant mineralized intercepts from its first ever diamond drill programs at Iroma and Wynamu prospects.
Assay results have been received for seven out of the nine holes drilled to date.
Drilling has intersected several broad zones of intensely altered silica-ankerite-pyrite.
Drilling results indicate two major lithologies - undifferentiated mafic volcanics and diorite.
A trenching and drilling program is currently being planned to test the gold anomaly.
On January 23, 2018, Guyana Goldstrike Inc. announced that Global Mineral Resource Services has completed and delivered a mineral resource estimate for the Mazoa Hill zone at Guyana Goldstrike Inc.'s Marudi Gold Project in Guyana, South America.
On January 19, 2018, Guyana Goldstrike Inc. announced that all matters presented to Guyana Goldstrike Inc. shareholders at its annual general meeting held on Jan. 15 were approved, and the current board of directors was re-elected.
The Company has also completed a second tranche of its previously announced private placement for gross proceeds of $125,000. On completion of this tranche, the Company issued 416,667 units at a price of 30 cents per unit.
On December 13, 2017, Guyana Goldstrike Inc. announced that it has been meeting and consulting with experts in the blockchain and cryptocurrency sector to ascertain the feasibility of financing the Marudi gold project through the issuance of an initial coin offering on the Ethereum blockchain platform.
On November 21, 2017, Guyana Goldstrike Inc. announced that it has entered into an agreement with Global Mineral Resource Services to complete and deliver a NI 43-101mineral resource estimate for the Mazoa Hill zone at the Company's Marudi gold project, Guyana, South America.
On November 16, 2017, Guyana Goldstrike Inc. announced that it has started phase 1 of exploration activities at the Marudi gold project, Guyana, South America.
Phase 1 highlights:
On November 14, 2017, Guyana Goldstrike Inc. announced that President and Chief Executive Officer Mr. Peter Berdusco will attend and present at the two-day Bally Capital Advisors' Swiss Mining Institute Investment Conference (the "SMI Conference") on November 23 and 24, 2017.
On November 9, 2017, Guyana Goldstrike Inc. released details of a planned multiphase exploration program on the Company's 13,500-hectare Marudi gold project in Guyana, South America. The primary objective of the program is to identify new hard-rock gold mineralization in an effort to expand beyond the property's historic resource estimate.
Highlights of the exploration program:
On November 7, 2017, Guyana Goldstrike Inc. announced that through BTV Business Television, Guyana Goldstrike Inc. has launched a branding and awareness campaign to begin on Business News Network (BNN).
BTV and CEO Clips will feature a short video spot on Guyana Goldstrike to be broadcast on BNN starting on Nov. 6 through to Nov. 19, 2017.
On November 1, 2017, Guyana Goldstrike Inc. has received royalty payments from small-scale alluvial mining (artisanal mining) on the Marudi gold project.
On September 21, 2017, Guyana Goldstrike Inc. announced that it is attending and participating in the China Mining Congress and Expo in Tianjin and the Canada Mineral Investment Forum in Beijing, China, on Sept. 21 through to Sept. 25, 2017.