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Golden Shield Resources Announces Results of Grab Sampling and Commencement of Drilling at Marudi
VANCOUVER, BC, Aug. 29, 2023 /CNW/ - Golden Shield Resources Inc. (CSE: GSRI) (OTCQB: GSRFF) (FRA: 4LE0) (the "Company" or "Golden Shield") is pleased to report
About this update from Golden Shield Resources Inc.
[{"type":"text","content":" VANCOUVER, BC, Aug. 29, 2023 /CNW/ - Golden Shield Resources Inc. (CSE: GSRI) (OTCQB: GSRFF) (FRA: 4LE0) (the \"Company\" or \"Golden Shield\") is pleased to report on recent work at its flagship, 5,457-hectare, Marudi Mountain gold project located in southwestern Guyana (the \"Marudi Mountain Property\" or \"Marudi\"), as well provide an update on preparations for Reverse Circulation (\"RC\") and subsequent Diamond drilling. 1) MARUDI NORTH Surface Sampling: The Company has received assay results from grab samples taken during grid-traverse mapping, west and downslope of, the historically drilled, Marudi North prospect. Approximately 187 grab samples were collected over an area of 300 meters by 110 meters. Of these samples, 98 samples (representing 52% of the samples collected) yielded assays greater than 1.0 g/t gold ranging between 1.2 g/t and 37.6 g/t with an average tenor of 5.8 g/t gold. Given the high-grade nature of these assays, the observations of veining (fluid flow), silica flooding (alteration), abundant pyrite (sulphidation), stretching and rotation of pyrite (deformation) visible gold observed in four mineralized samples of the Ferruginous Quartzite (\"FQ\"), the Marudi North Prospect has been upgraded to Priority #1 for RC drilling. This will be undertaken by the Company owned and operated RC/Aircore (\"AC\") Prospector II Drill Rig. Drilling is expected to commence next week. Historical Diamond Drilling: Marudi North was first drilled in 1947 and has been the subject of intermittent exploration. Marudi North has been tested by 43 historical diamond drill holes, totaling 8,150 meters. Table I below is a tabulation of selected drill hole intersections. TABLE 1: Historical Marudi North drill hole intersections From (m) To (m) Intersection (m) Grade (Au g/t) Host Geology 1947 Drilling 91.40 94.18 2.78 3.90 FQ 74.07 78.03 3.96 15.7 FQ 99.06 103.08 4.02 8.50 FQ 1993 Drilling 99 108 9.00 1.90 FQ 186 192 6.00 1.47 FQ 2011 Drilling 12.5 24.5 12.00 2.78 FQ Geology: The host rock for all Marudi North historical mineralized intersections is the FQ unit, which also hosts gold mineralization at Mazoa Hill. The FQ at Marudi North occurs in a similar geological setting to Mazoa, as a unit \"sandwiched\" between foot-wall metavolcanic...