- 39 RC drillholes (1939 m total) have been completed at the Marudi North Prospect
- Select drill highlights include:
- MN-23-RC005: 14 m at 1.0 g/t Au from 5 m, incl. 11 m at 1.27 g/t Au
- MN-23-RC008: 7 m at 7.50 g/t Au from 3 m, incl. 4 m at 13.06 g/t Au
- MN-23-RC009: 4 m at 1.78 g/t Au from 13 m
- MN-23-RC010: 5 m at 1.86 g/t Au from 5 m, incl. 1 m at 7.40 g/t Au
- Further assays for Marudi North are currently pending.
- Select drill highlights include:
- The RC rig is currently drilling at the IP-6 prospect where 12 drillholes (779 m) have been drilled to date with additional drill holes set to be completed.
Pancake Creek will be drilled using the RC rig following the completion of the IP-6 Grid.
The goal of the RC drill campaign at the Marudi Mountain Property is to acquire an understanding of the shallow subsurface geology beneath the saprolite cover. Specifically, the Company seeks to explore the Marudi Mountain Property for the favourable gold-bearing, Ferruginous Quartzite ("FQ"), lithology that is the primary host of mineralization across the property. Drill depths currently vary between 22-79 m, with holes having an average depth of 52.5 m. The RC drill campaign is designed to have 140 drillholes completed across three prospects: Marudi North (completed), IP-6 (current), and
A total of 39 RC drillholes, totaling 1939 m, have now been completed at the Marudi North exploration target. Previous operators recognized the existence of gold-bearing FQ unit at the Marudi North prospect; however, Golden Shield RC drilling has helped to define a large package of prospective FQ to the southwest of historical drillholes. This enlarges the current footprint of the Marudi North prospect to an approximate extent of 100 x 100 m and proves the continuity of the gold bearing horizon to the SW-of its previously known extent. Downhole geochemical data is currently being consolidated to allow for future diamond drill targeting, with the aim of progressing the prospect to the diamond drilling stage (Figure 2).
Initial RC drill results are encouraging, with highlights listed and summarized in Table 1. Further assays for Marudi North are currently pending.
Table 1. RC drill results received to date.
Drillhole | Depth of | Azimuth | Dip (degrees) | From | To | *Interval | Au (g/t) |
MN-23-RC001 | 79 | 126 | 55 | No Significant Intercepts | |||
MN-23-RC004 | 60 | 35 | 50 | No Significant Intercepts | |||
MN-23-RC005 | 65 | 35 | 50 | 5.00 | 19.00 | 14.00 | 1.00 |
Incl. | 7.00 | 18.00 | 11.00 | 1.27 | |||
MN-23-RC006 | 62 | 130 | 55 | No Significant Intercepts | |||
MN-23-RC007 | 18 | 42 | 50 | No Significant intercepts | |||
MN-23-RC008 | 51 | 42 | 50 | 3.00 | 10.00 | 7.00 | 7.50 |
Incl. | 5.00 | 9.00 | 4.00 | 13.06 | |||
MN-23-RC009 | 52 | 130 | 50 | 13.00 | 17.00 | 4.00 | 1.79 |
MN-23-RC010 | 27 | 207 | 45 | 5.00 | 10.00 | 5.00 | 1.86 |
Incl. | 9.00 | 10.00 | 1.00 | 7.40 | |||
MN-23-RC011 | 57 | 90 | 55 | No Significant Intercepts | |||
MN-23-RC012 | 49 | 50 | 55 | No Significant Intercepts | |||
MN-23-RC020 | 64 | 125 | 55 | No Significant Intercepts | |||
MN-23-RC022 | 60 | 125 | 50 | No Significant Intercepts | |||
MN-23-RC023 | 40 | 35 | 50 | No Significant Intercepts | |||
MN-23-RC025 | 28 | 30 | 50 | No Significant Intercepts |
*There is insufficient data available to calculate true widths for these intervals. Additionally, the RC drill bit may "smear" results down the hole, although no evidence of this has been observed. Full sampling details are provided below. |
A total of 12 RC drillholes, totaling 726 m, have now been completed at the IP-6 exploration target. The drilling at IP-6 is targeting previously unrecognized exposures of the FQ host unit, that were discovered as a result of the Induced Polarization (IP) survey conducted at the Marudi Mountain Property (see the Company's news release dated
Drilling will commence at Pancake creek with the RC drill rig following the completion of the RC drilling grid at IP-6.
Golden Shield is committed to advancing the Marudi Mountain Property through iterative and focused exploration. The Company has a structured plan to advance the highest rated exploration targets to diamond drill stage. Over the past year, the 10 most advanced exploration targets have undergone extensive boots-on-the-ground exploration work including extensive sampling and mapping. Nine of the ten exploration targets have now undergone mechanical trenching. Two of the ten exploration targets have now undergone RC drilling, with RC drilling planned on additional prospects. Diamond drilling at the Mazoa Hill deposit, and additional targets is expected in Q1 2024. For the status of each individual prospect, please see Figure 4.
Golden Shield has commenced RC drilling at the Marudi Mountain Property as of
Samples are collected every 1 meter and are collected on-site using a cyclone splitter, producing a 4-5 kg bulk sample, where 2-3kg is an assay sample and a 2-3 kg duplicate sample is stored and can be used for re-assay work. Coarse blank material and standard reference pulps are inserted into the sample stream on a 1-in-10 sample basis such that each 20-sample group contains one blank and one reference pulp. Every 10-meter bulk sample is weighed in order to monitor recovery. Assay samples are placed in shipping sacks for every 10 meters upon completion of each hole. Prior to shipping, all samples are maintained under the direct control and supervision of the on-site geological staff.
Upon arrival at Actlabs laboratory in
Golden Shield was founded by experienced professionals who are convinced that there are many more gold mines yet to be found in
Connect with Golden Shield
Email | Website | Facebook | LinkedIn | X/Twitter| YouTube |
To register for investor updates please visit https://goldenshield.ca
This news release includes certain "Forward‐Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward‐looking information" under applicable Canadian securities laws. When used in this news release, the words "anticipate", "believe", "estimate", "expect", "target", "plan", "forecast", "may", "would", "could", "schedule" and similar words or expressions, identify forward‐looking statements or information. These forward‐looking statements or information relate to, among other things: the exploration and development of the Company's mineral projects; and release of exploration results.
Forward‐looking statements and forward‐looking information relating to any future mineral production, liquidity, enhanced value and capital markets profile of Golden Shield, future growth potential for Golden Shield and its business, and future exploration plans are based on management's reasonable assumptions, estimates, expectations, analyses and opinions, which are based on management's experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances, but which may prove to be incorrect. Assumptions have been made regarding, among other things, the price of gold and other metals; no escalation in the severity of the public health crises; costs of exploration and development; the estimated costs of development of exploration projects; Golden Shield's ability to operate in a safe and effective manner and its ability to obtain financing on reasonable terms.
These statements reflect Golden Shield's respective current views with respect to future events and are necessarily based upon a number of other assumptions and estimates that, while considered reasonable by management, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance, or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward‐looking statements or forward-looking information and Golden Shield has made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: the Company's dependence on one mineral project; precious metals price volatility; risks associated with the conduct of the Company's mineral exploration activities in
SOURCE
© Canada Newswire, source