Business
Golden Shield Resources Provides Update on Exploration Results and Planned Drilling at Marudi Mountain Property
VANCOUVER, BC, Aug. 14, 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. 14, 2023 /CNW/ - Golden Shield Resources Inc. (CSE: GSRI) (OTCQB: GSRFF) (FRA: 4LE0) (the \"Company\" or \"Golden Shield\") is pleased to report on exploration results at its 100% owned flagship, 5,457-hectare, Marudi Mountain gold project located in southwestern Guyana (the \"Marudi Mountain Property\" or \"Marudi\"). The Company is pleased to report results from mapping and geological interpretive work at the Marudi Mountain Property which was conducted by Specialized Geological Mapping. In addition, the Company reports results of the reinterpretation of a 25 km2 Induced Polarization (\"IP\") and resistivity survey conducted by Arce Geofísicos S.A.C. and the 2018 helimagnetic survey conducted by GeophysicsOne Inc. It is important to note that the 2018 helimag survey at the Marudi Mountain Property was completed once drilling by the previous operator had ceased. Golden Shield is the first company to have this geophysical data available to guide drilling at the Marudi Mountain Property. Additionally, surface trenching, pitting, mapping, and sampling has taken place with the collection of over 2,000 rock samples. In 2022, the Company completed approximately 9,000m of drilling on the Marudi Mountain Property and extended high-grade mineralization below the base of the historic resource constraining pit by 180m, with the best intercept being 50 meters grading 9.10 g/t gold. In addition, the Company has completed the purchase of a dual-purpose Air Core (\"AC\") and Reverse Circulation (\"RC\") drill rig from Multi-Power Products Ltd., based in Kelowna, BC, Canada. This drill rig will be used to penetrate through the saprolite cover and test fresh bedrock in a grid pattern to validate drill targets before testing with the more expensive diamond drill rig that is located on site. Leo Hathaway, Executive Chairman of Golden Shield, commented: \"Recent geological work at Marudi has been pivotal in providing us with a new exploration model. Geophysical work has traced the prospective horizon into areas it was previously unknown, and the Company's recent work has then 'ground-truthed' this by trenching in these areas and unearthing the horizon in outcrop. This detailed understanding of the exploration model may now be applied elsewhere in the southern Guyana greenstone belt, in which Golden Shield is a first ...