Advancing the Marudi Gold project in Guyana, South America.
Marudi has near-term production potential from the alluvial areas and the saprolite (thoroughly decomposed, weathered and porous rock) overlying a hardrock host. The project has an active mining license.
The company is currently generating revenues from a 10% royalty on artisanal mining on the project area. In the 12 months ended September 2017, a total of 1,528 oz were produced. GYA’s 10% royalty was US$178k.
A historic resource estimate (1995) on two mineralized zones (Mazoa Hill and Marudi North) total approximately 472 Koz of hard-rock gold.
The company has recently announced that it is converting the historic resource estimate of the Mazoa Hill zone into a NI 43-101 compliant resource. The company has also initiated a multi phase exploration program to expand the mineralization on the property through the discovery of new zones and areas.
The property has been subject to a total of 42,000 m (141 holes) of diamond drilling since 1946 by various entities, for a total exploration expenditure of approximately $30 million. 95% of Marudi is still unexplored.
Guyana is host to several large gold projects. The country’s annual gold production in 2016 was 690,000 oz.
www.guyanagoldstrike.com
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