Golden Shield Resources (CSE: GSRI) this morning put out strong results from the final holes of a recent drill campaign. Drilling was conducted at the firms Marudi Mountain gold project, which is found in southwest Guyana, where the company intersected 9.10 g/t gold over 50 metres.
The drill program as a whole consisted of thirteen holes that were drilled for an aggregate 2,364 metres under a phase one program. Seven holes were conducted at what is referred to as Mazoa Hill, the first three of which were previously released. The remaining six holes were drilled at the Toucan Creek prospect, which are currently pending.
Highlights from the results released this morning include:
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- MH-21-04: 9.1 g/t gold over 50 metres, including 14.8 g/t gold over 17 metres
- MH-21-06: 32.29 g/t gold over 1 metre
- MH-21-07: 8.79 g/t gold over 5 metres
While the highlight drill result has significant mineralization, the company has indicated that the “intercepts reported for this hole are not thought to represent true thicknesses.” The lower portion of the intersect is also said to be below the historic resource contained at the zone, with the hole said to target an undrilled panel in this historic resource while also exploring for mineralization in the footwall.
The company has indicated that further drill targets at the larger Marudi project are expected to be identified “in the coming weeks,” which will lead to further drilling occurring.
Golden Shield last traded at $0.61 on the CSE.
Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
