Guyana Frontier Reports Trenching Results from Marudi Mountain Gold Project
VANCOUVER, Oct. 31, 2011 /PRNewswire/ - Guyana Frontier Mining Corp. ('Guyana Frontier') is pleased to announce the initial results of a trenching program at the Marudi Mountain Gold Project (the 'Marudi Project') located in southern Guyana, South America. Nineteen trenches totaling 3,400.4 metres in length were excavated and sampled by Guyana Frontier in the Marudi North target area, beginning in July 2011. The results of the trenching indicate gold mineralization is present in bedrock within the area tested. Drill collar locations for a proposed diamond drilling program have been selected based on the analytical results received to date. Maps depicting the 2011 trenching program and photos of gold mineralization recovered can be viewed on Guyana Frontier's website at www.guyanafrontier.com at 'Projects - Marudi Mountain'.
Highlights of the 2011 Trenching Program
-- 1,086 soil samples each weighing between 1 to 3 kilograms were
taken in continuous horizontal 3 metre intervals in most of the
trenches;
-- To date, analytical results for 1,073 samples have been
received, of which 179 samples showed gold values greater than
0.26 grams/tonne, with the highest values in Trenches 04 and 06
assaying up to 12.0 grams/tonne gold (see Table 1 below);
-- Gold mineralization is associated with the subcrops of
quartzite/metachert rocks found within the trenches, and
consists of fine gold dust and gold grains up to 0.5 x 2.0
millimetres in size;
-- The angular, wire, and hackly shapes of gold grains indicate
that the gold recovered in pan concentrates has weathered in
situ from bedrock and has not been transported from its source;
-- A 400 to 500 metres strike length of the quartzite rocks has
been interpreted from the work carried out to date, providing a
highly prospective target area for a proposed 2011-2012 diamond
drilling program.
2011 Trenching Program
The location of the 2011 trenching program was determined from a review of the results of auger drilling and trenching work carried out by Guyana Frontier in 2007-2008, and by observations made in the summer of 2011 during re-logging of historical diamond drill holes drilled by previous explorers in the early 1990s (see Guyana Frontier News Release dated August 24, 2011). The historical drill holes indicate the presence of gold-bearing quartzite rocks in the Marudi North target area, which could therefore host a similar geological setting as is found at the southern Mazoa Hill target area. Mazoa Hill was the subject of extensive historical diamond drilling by previous explorers due to the gold mineralization found there. The results of the 2011 trenching program demonstrate that Guyana Frontier has succeeded in mapping gold-bearing quartzite rocks in the Marudi North target area.
Subcrops of quartzite/metachert in Marudi North trenches 04 and 06, for example, were exposed in horizontal widths of 5 to 40 metres, interbedded with saprolite after metavolcanics. Gold grains were observed in panned samples, usually located above and near quartzite. The greatest concentrations of gold occur towards the eastern, stratigraphically lower, downslope margin of quartzite, and in adjacent saprolite.
Outcrop patterns of quartzite are discontinuous along strike. A 290 degree normal fault or shear plane with apparent right lateral offset with the northern block down-dropped is interpreted to transect the local stratigraphy approximately parallel to, and between Trenches 04 and 06. The influence that a shear zone may have had upon genesis and distribution of gold mineralization at this site, other than interpreted offset, is not yet determined.
Bedding/foliation in quartzite and attitude of the quartzite/saprolite contact in the west end of Trench 06 when projected down dip, crosses the upper portion of historical drill hole 92-79 where quartzite and banded iron formation were observed. Original 1992 drill logs note visible gold in hole 92-79 between 138.90 to 145.92 metres, as measured in the length of the hole.
Table 1. 2011 Marudi North Trenching Program: Range of Gold Values in Samples
________________________________________________________________________
| | | | Number of Samples With | |
| | | | Range of Gold Values | |
| |Trench|Length | (grams/tonne Au) | Total |
|Location| Name | of |________________________________________|Number |
| | and |Trench | | | | | | of |
| |Number| (m) |0-0.25|0.26-0.50|0.51-0.75|0.76-1.0|>1.1|Samples|
| | | | | | | | | |
| | | | | | | | | |
|________|______|_______|______|_________|_________|________|____|_______|
|Marudi |Trench|49.0 | 10 | 0 | 0 | 0 | 0 | 10 |
|N. |01 | | | | | | | |
|________|______|_______|______|_________|_________|________|____|_______|
|Marudi |Trench|12.0 | 4 | 0 | 0 | 0 | 0 | 4 |
|N. |02 | | | | | | | |
|________|______|_______|______|_________|_________|________|____|_______|
|Marudi |Trench|52.0 | AssaysPending | 13 |
|N. |03 | | | |
|________|______|_______|________________________________________|_______|
|Marudi |Trench|342.0 | 46 | 32 | 16 | 6 | 14 | 114 |
|N. |04 | | | | | | | |
|________|______|_______|______|_________|_________|________|____|_______|
|Marudi |Trench|63.0 | 7 | 0 | 0 | 0 | 0 | 7 |
|N. |04E | | | | | | | |
|________|______|_______|______|_________|_________|________|____|_______|
|Marudi |Trench|13.4 | 5 | 0 | 0 | 0 | 0 | 5 |
|N. |05 | | | | | | | |
|________|______|_______|______|_________|_________|________|____|_______|
|Marudi |Trench|216.0 | 37 | 21 | 5 | 5 | 4 | 72 |
|N. |06 | | | | | | | |
|________|______|_______|______|_________|_________|________|____|_______|
|Marudi |Trench|174.0 | 58 | 0 | 0 | 0 | 0 | 58 |
|N. |06E | | | | | | | |
|________|______|_______|______|_________|_________|________|____|_______|
|Marudi |Trench|30.0 | 2 | 5 | 0 | 0 | 3 | 10 |
|N. |06W | | | | | | | |
|________|______|_______|______|_________|_________|________|____|_______|
|Marudi |Trench|348.0 | 79 | 24 | 3 | 2 | 2 | 110 |
|N. |07 | | | | | | | |
|________|______|_______|______|_________|_________|________|____|_______|
|Marudi |Trench|42.0 | 12 | 1 | 2 | 0 | 0 | 15 |
|N. |08 | | | | | | | |
|________|______|_______|______|_________|_________|________|____|_______|
|Marudi |Trench|138.0 | 47 | 0 | 1 | 0 | 0 | 48 |
|N. |09 | | | | | | | |
|________|______|_______|______|_________|_________|________|____|_______|
|Marudi |Trench|243.0 | 78 | 1 | 0 | 1 | 1 | 81 |
|N. |A | | | | | | | |
|________|______|_______|______|_________|_________|________|____|_______|
|Marudi |Trench|286.0 | 75 | 7 | 0 | 0 | 2 | 84 |
|N. |B | | | | | | | |
|________|______|_______|______|_________|_________|________|____|_______|
|Marudi |Trench|417.0 | 128 | 4 | 1 | 0 | 0 | 133 |
|N. |C | | | | | | | |
|________|______|_______|______|_________|_________|________|____|_______|
|Marudi |Trench|252.0 | 83 | 0 | 0 | 0 | 0 | 83 |
|N. |D | | | | | | | |
|________|______|_______|______|_________|_________|________|____|_______|
|Marudi |Trench|228.0 | 74 | 0 | 0 | 0 | 0 | 74 |
|N. |E | | | | | | | |
|________|______|_______|______|_________|_________|________|____|_______|
|Marudi |Trench|294.0 | 87 | 4 | 4 | 1 | 1 | 97 |
|N. |F | | | | | | | |
|________|______|_______|______|_________|_________|________|____|_______|
|Marudi |Trench|201.0 | 62 | 3 | 0 | 2 | 1 | 68 |
|N. |G | | | | | | | |
|________|______|_______|______|_________|_________|________|____|_______|
| | | | | | | | | |
|TOTAL |19 |3,400.4| 894 | 102 | 32 | 17 | 28 | 1,086 |
|________|______|_______|______|_________|_________|________|____|_______|
NOTE: The detail and distribution of the gold values described in Table 1 above should be read in conjunction with and compared to the map entitled 'Marudi Project - 2011 Trenching Program Gold Values and Proposed Drill Holes' on the Guyana Frontier website at the following web address:
http://www.guyanafrontier.com/s/MarudiMountain.asp
The gold assay results as shown in Table 1 above are susceptible to the 'nugget effect', that is, non-uniform distribution of individual gold grains can provide higher or lower assays when sample results are compared to the results of a duplicate sample.
Sampling Procedures
Trenches were dug with an excavator and averaged 2.6 metres in depth. Chip channel samples of decomposed quartzite and saprolite were collected in continuous 3-metre intervals from trench walls, were bagged on site, and delivered to Acme Laboratories Ltd. ('Acme') in Georgetown, Guyana. At intervals of 20 samples a duplicate was collected and submitted to Acme for geochemical analysis. Another sample was collected from each chip-channel, panned to separate heavy minerals, and the number of visible gold grains recorded.
Analytical Methods
At Acme, samples were crushed to 80% passing 10 mesh (1.7 mm), then split to provide a 250 gram subsample which was pulverized to 85% passing 200 mesh (75 microns). Gold fire assay determinations and multi-element analyses were conducted in Acme's facility in Santiago, Chile.
A 30 gram split was subject to Fire Assay pre-concentration with an AA finish. Samples with results over 10 ppm gold were subject to a gravimetric analysis and results were reported in grams per tonne with a lower limit of 0.005 grams per tonne. A separate sub-sample, 0.5 grams of the pulp, was subject to a 1:1:1 Aqua Regia digestion and analyzed by ICP/OES (Optical Emission Spectroscopy) for 34 elements.
Proposed 2011-2012 Diamond Drilling Program
Based on the results of the 2011 trenching program received to date, approximately 6,000 metres of diamond drilling in 20 to 25 holes is planned. Guyana Frontier intends to test the Marudi North area with a minimum of 3,000 metres of drilling, and if results warrant, to continue the drilling program subject to obtaining additional exploration financing.
The technical work disclosed in this document was planned and reviewed by Locke Goldsmith, M.Sc., P.Eng., P.Geo., an independent consultant to Guyana Frontier, who is a Qualified Person as defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects ('NI 43-101'), and is responsible for all technical information contained in this news release.
About the Marudi Project
The Marudi Project consists of one Mining Licence totaling 13,502 acres (5,464 hectares) located in southern Guyana approximately 500 kilometres (330 miles) from the capital city of Georgetown. Guyana Frontier holds a 100% interest in the Project, subject to a 2% net smelter returns royalty ('NSR').
Guyana Frontier holds a 100% interest in the adjacent Paint Mountain property ('Paint Mountain'), subject to a 2% NSR. Paint Mountain consists of one Prospecting Licence totaling 8,848 acres (3,581 hectares) and remains largely unexplored. Guyana Frontier has recently commenced exploration at Paint Mountain. Rock samples have been collected and will be sent for geochemical analysis and petrography. A portion of the property has been selected for detailed mapping and sampling on the basis of favourable geology and the presence of artisanal placer miners. Airborne geophysical surveys are planned for both Paint Mountain and the Marudi Projects.
About Guyana Frontier
Guyana Frontier is a public mineral exploration company listed on the TSX Venture Exchange
, 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 goal is to develop a significant gold resource at the Marudi 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.
Guyana Frontier Mining Corp.
CONTACT: For further information about Guyana Frontier, please contact
Warren
Stanyer, President and Chief Executive Officer, at (604) 558-0077 or
visit our website at www.guyanafrontier.com