Golden Shield Resourcees (GSRI.C) has started drilling some of the high priority zones on its Marudi project in Guyana way before the company went public and the assay results of all seven holes drilled on the Mazoa Hill zone have now been released. The results of the first batch of three holes was released last week
As you can see in the table above, all three holes encountered gold mineralization which is a good start, but the company used the 9.75 meters containing 11.89 g/t gold encountered in hole 3 as its headline result as that clearly drew a lot of attention. Hole MH-21-01 also encountered gold but with three intervals of two meters that hole wasn’t nearly as exciting as holes 3 and 2. Hole MH-21-02 encountered a thick layer of what could be economic grade gold minralization (with 43 meters of 1.39 g/t gold including 21 meters containing 2.12 g/t gold) after having intersected multiple shorter intervals higher up in the hole.
Looking at the drill plan map, hole 4 was drilled close to hole 3 and we were keen to see what grade that hole would be carrying. And it didn’t disappoint at all, as that hole returned a stunning 50 meters containing 9.1 g/t gold including several higher grade intervals like 17 meters at almost half an ounce per tonne followed by 11 meters containing 9.57 g/t and 3 meters with 13.26 g/t gold.
Hole 5 didn’t encounter any noticeable mineralization but that doesn’t mean the hole was a failure as it confirmed the initial interpretation of the technical team the zone is steeply dipping. So rather than being ‘disappointed’ hole 5 was empty, it appeared to be some sort of ‘condemnation hole and will help the company to target mineralization in the future.
The assay results from all holes drilled at Mazoa Hill have now been reported but the company still needs to publish the results from six holes drilled on the Toucan Creek prospect.
Disclosure: The author has a long position in Golden Shield Resources. Please read our disclaimer.
