2010 Assay Results
Groete Creek / Georgetown West Exploration 2010 Assay Geochemistry Results
About Groete Creek and Georgetown West:
The Groete Creek and Georgetown West Projects are located some 43 miles southwest of Georgetown, the capital city of Guyana. Groete Creek is comprised of three Mining Permits, and Georgetown West is comprised of six Mining Permits. Gold Port recently removed a significant number of illegal gold miners from the Groete Creek area. The Georgetown West area is the location of ongoing mining activity by local Guyanese with the permission of the owner. Results of the recent ground reconnaissance program have significantly expanded the gold horizon across the two projects.
2010 Sampling Program:
A total of 47 samples were taken at Groete Creek, and 24 samples were taken at Georgetown West . All samples were grab samples unless noted, with all the anomalous results above 0.10 grams per tonne gold ( gpt Au ) reported in the table at the bottom of this press release.
At Groete Creek, 29 of the samples returned values greater than 0.10 gpt Au, and as high as 2.78 gpt Au. At one pit location, gold was confirmed to be present in the saprolite, exposed bedrock and quartz. Sample GC-32 returned 1.29 gpt Au from piled saprolite awaiting processing, and GC-38 returned 1.09 gpt Au from the wall of the pit. Of further interest is sample GC-23 which returned 2.78 gpt Au , and sample GC-36 which returned 1.79 gpt Au. Both samples were from saprolite recently excavated and piled. Sample GC-37 from the bottom of a working pit returned 2.02 gpt Au and sample GC-39 from piled weathered rock near a pit returned 1.08 gpt Au. Sample GC-41 of a granite outcrop ( bedrock ) returned 0.80 gpt Au. Sample GC-75 from a quartz pile returned 1.71 gpt Au.
At the Georgetown West Project, 16 samples returned values greater than 0.10 gpt Au, with a high of 7.97 gpt Au, along with significant copper at one location. Of note are results from the horizontal sampling of a pit face, taking weathered bedrock in .5 meter chips. Sample RH-001 returned 5.75 gpt Au with 179 parts per million copper ( ppm Cu ), Sample RH-002 returned 0.27 gpt Au with 182 ppm Cu, and sample RH-003 returned 7.97 gpt Au with 280 ppm Cu. Of further interest is a weathered bedrock sample, RH-012 which returned 0.906 gpt Au.
The results have confirmed gold mineralization over a five kilometer strike from the western most claim of the Groete Creek Project to the eastern claims of the Georgetown West Project, with gold found in quartz, saprolite and bedrock. A sample program of operating and abandoned sluice boxes, and tails returned insignificant gold values, indicating recovery by local miners is extracting most of the gold. Full sample details are provided below.
Groete Creek was originally explored by the United Nations Mineral Survey and subsequently, Coeur d’ Alene Mines ( TSX:CDM ). The exploration which included drilling allowed Coeur d’ Alene Mines to calculate by using a simple polygonal method, a non-NI 43-101 compliant resource of approximately 94 million tonnes grading 0.6 grams per tonne gold and 0.11% copper. ( Caution: The issuer has not done the work necessary to verify the classification of the resource or reserve, the issuer is not treating them as a NI 43-101 defined resource or reserve verified by a qualified person, and the historical estimate should not be relied upon ). This gold mineralized zone is contained within the western portion of the Groete Creek project permits, over approximately 1,000 meters of strike.
Samples were collected under the direct supervision of George C. Sharpe, a Qualified Person as per NI 43-101. For security, each sample was bagged and tagged by Mr. Sharpe and shipped directly to Loring Laboratories of Georgetown. Loring completed a fire assay for gold with a metallic finish. Mr. Sharpe as QP has reviewed the content of this page.
Based upon the historical data, sampling by the Company and recent significant mining activity, management believe the Groete Creek / Georgetown West projects offer the opportunity to confirm and expand a significant gold deposit. The next phase of exploration will involve a ground geophysical program which will be followed by a drill program. The Company owns heavy equipment and a track mounted drill rig ideally suited for this purpose. A full camp is established on site and personnel are in place. The Company proposes to complete a 25 hole, 6,000 meter drill program in the immediate future, pending financing. The program will seek to establish the historical gold zone to NI 43-101 standards, and if possible, expand the area.
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