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GYA - Guyana Goldstrike Inc (TSX.V)

Discussion in 'International Markets' started by Userman, May 26, 2017.

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    GUYANA GOLDSTRIKE REPORTS MILESTONES ACHIEVED

    Guyana Goldstrike Inc. (GYA.V) has provided a progress report on the company's achievements for its shareholders and potential new investors.

    Peter Berdusco, Guyana Goldstrike's president and chief executive officer, commented: "We are extremely proud of our accomplishments that have been achieved to date. We have successfully completed the acquisition of the Marudi gold project and financed the company through a private placement to execute on its corporate strategy and business plan. We are now advancing Marudi and will continue to update our shareholders and investors as the project moves forward."

    Acquisition and call to trade

    In a news release on March 3, 2017, the company announced it had completed the acquisition of Romanex Guyana Exploration Ltd. Romanex is a privately held mineral exploration company incorporated under the laws of the Republic of Guyana. Romanex holds a 100-per-cent interest in the Marudi Mountain mining licence located in Guyana, South America. Following completion of the acquisition, the company changed its name to Guyana Goldstrike.

    Trading in the common shares of the company began on March 21, 2017, after the completion of final filings with the TSX Venture Exchange. The company is now listed as a Tier 2 mining issuer under the new symbol GYA.

    Romanex is now a fully owned Guyanese subsidiary of Guyana Goldstrike, fulfilling all operational activities on the property.

    Financing

    The company announced in a news release on March 17, 2017, that it had completed a non-brokered private placement of 8,885,235 units at a price of 20 cents per unit for gross proceeds of $1,777,047. Each unit consists of one common share of the company and one-half of one common share purchase warrant. Each warrant entitles the holder to acquire an additional common share of the company at a price of 30 cents per share for a period of 24 months.

    Management

    Guyana Goldstrike has assembled a strong well-rounded management team with extensive mining experience in Guyana. The company's most recent addition was announced in a news release on March 24, 2017, with the appointment of Rodney Stevens as an independent director of the company. Mr. Stevens is a CFA charter holder with over 10 years of experience in the capital markets, first as an investment analyst with Salman Partners Inc., then as a merchant and investment banker. While at Salman Partners, Mr. Stevens became a top-rated analyst by StarMine on July 17, 2007, for the metals and mining industry.

    About the Marudi gold project

    The Marudi gold project is a permitted mining licence consisting of approximately 13,500 hectares, located 230 kilometres from the town of Lethem in southern Guyana. Over $30-million (U.S.) in historical exploration has been spent on the property (which includes 42,000 metres of diamond drilling).

    There is good infrastructure in place, easily accessed with an all-season road through an open savannah. The property was acquired in 1998 by Vannessa Ventures (Guyana) Ltd. from Sutton Resources/Barrick Gold Corp. and then further acquired by Guyana Frontier Mining, where the project was partially finance by Teck Resources Ltd.

    The Marudi gold property contains a historical non-compliant resource estimate of 880,000 ounces of hard-rock gold. There exists strong potential to increase the hard-rock ounces through further exploration on the open areas of the development sites.

    This information is taken from a report prepared in March, 2004, by consulting geologists for Vannessa Ventures. The information contained in the report is based on estimates from two main development sites: Mazoa Hill consisting of 760,000 ounces of gold at five grams per tonne based on 4.7 million tonnes and Marudi North consisting of 120,000 ounces of gold at 2.7 grams per tonne based on 1.4 million tonnes.

    The information was derived from surface expressions and average grades from bore holes where the results were greater than one part per million. The other information is not known, the historical estimates does not use the Canadian Institute of Mining, Metallurgy and Petroleum classifications, and, for that reason, additional work would need to be done to upgrade or verify the historical estimate as a current mineral resource.

    Historical estimates

    The historical estimates contained in this news release should not be relied upon. These estimates are not National Instrument 43-101 compliant. While the company considers these historical estimates to be relevant to investors as it may indicate the presence of mineralization, a qualified person for the company has not done sufficient work to classify the historical estimates as current mineral resources as defined by NI 43-101, and the company is not treating these historical estimate as a current mineral resource.

    About Guyana

    The Republic of Guyana is located in South America between Venezuela and Suriname. The country is English speaking under British common law with a democratically elected government. It has an established mining act and rich history of gold production. In 2013, 458,000 ounces of gold were produced by operators mining in the country. The Guiana Shield belt has 110 million ounces of gold inventory and is world recognized as a premier gold region. With geological continuity with West Africa, the shield is highly prospective and very underexplored. Two mines have recently declared the commencement of commercial production in 2016: Aurora deposit (Guyana Goldfields) and the Karouni deposit (Troy Resources).

    Qualified person

    Locke Goldsmith, MSc, PEng, PGeo, chief geologist and exploration manager for Guyana Goldstrike, acts as the company's qualified person for technical disclosure in accordance with National Instrument 43-101. Mr. Goldsmith has reviewed and approved the technical content of this news release.



    www.guyanagoldstrike.com
     
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    GYA.V Guyana Goldstrike to Build a New 3D Model for 800k Gold Deposit

    Engineers to Create New 3D Model from Previous Drill Data for 800,000 ounces Gold


    12661406-3d-image-gold-deposit.png

    3D Image Gold Deposit

    Goldstrike Inc. (GYA - TSX.V) announced on that it has retained the services of mining engineering firm MineIt Consulting Inc. to assist the Company in compiling, modelling and advancing the legacy geological data from the Marudi Gold Project located in Guyana, South America.

    The legacy data contains over 40,000 metres of diamond drilling performed on the project by prior operators. The majority of the drilling was conducted on Marudi's two main development sites: Mazoa Hill and Marudi North. Both sites are open to mineralization in multiple directions and therefore favourable to further exploration and development. Mineit services will primarily assist the company in defining a comprehensive exploration program for these sites, focussing on drill target definition and mineralization expansion.

    About MineIt Consulting Inc.

    MineIt Consulting Inc. with offices located in Vancouver, BC, Canada, is a leading mining engineering consulting firm serving the Canadian mining industry. The company provides engineering services that include Mining Engineering, Project Evaluation, Geotechnical Engineering, and Process & Metallurgy services.

    Past clients of MineIt include: • Goldcorp • Gold Standard • Terrane Metals • Victory Nickel • Thompson Creek • Riverside Resources • MX Gold • Anglo American • Alexco Resources • North American Tungsten

    About the Marudi Gold Project

    The Marudi Gold Project is the Company's flagship project located in Guyana, South America. It has had an extensive history of exploration and development completed by past operators. The Marudi has all-season infrastructure including an established mining camp with permanent facilities, employees and a full-time camp manager.

    http://www.guyanagoldstrike.com
     

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    Guyana Goldstrike Inc. Appoints Zijin Midas Exploration Fund Member Dr. Tony Gou P. Geo

    Zijin Midas Exploration Fund - Strategic Investment Fund - Invests in Junior Mining Companies



    Guyana Goldstrike (GYA.V) announced that it has appointed Dr. Yingting (Tony) Guo, P. Geo as an Advisor to the Board of Directors.

    Dr. Guo is the founder and Chairman of the Association of Chinese Canadian Mining Professionals in Canada which aims to provide a technical and investment networking group for Chinese professionals in the mining industry in Canada and a member of the technical committee of the Zijin Midas Exploration Fund, a strategic investment fund that invests in junior mining companies. The fund's mandate is to invest strategically, and on a global basis, with a focus on exploration projects demonstrating potential for a large discovery.

    "We are honored to have Dr. Guo as the first member of our Advisory Board and his expertise will provide a critical role in the advancement of our objectives at the Marudi Gold Project," stated Mr. Peter Berdusco, President and Chief Executive Officer of Guyana Goldstrike. "Our near-term focus will be the strategic exploration of high-priority mineralized targets on the property giving us an opportunity to add ounces beyond our historic resource estimate and the implementation and exploitation of our mining license", continued Mr. Berdusco.

    Dr. Guo has over 30 years' experience in the mining industries having worked on mineral exploration and development projects/mines in China, Mongolia, Africa, US and Canada. His business expertise includes mineral resource exploration, estimation, development, assessment, acquisition and project management. He has worked for companies such as Jinshan Gold Mines, China Gold International, Behre Dolbear Group and is the founder and Chairman of the Association of Chinese Canadian Mining Professionals in Canada.

    Dr. Guo holds a Bachelor of Science degree in geology from the Nanjing University and a doctoral degree in geology and exploration from the China University of Mining and Technology. He is a registered professional geoscientist in the Province of British Columbia, Canada, and a committee member of the Mining and Metallurgical Society of America.

    About the Marudi Gold Project

    The Marudi Gold Project is the Company's flagship project located in Guyana, South America. Marudi is unique in that it has three known gold bearing areas, specifically the alluvial areas, the saporlite overburden and the lower hard-rock. 42,000 metres of diamond drilling (141 holes) has been performed on the property's hard-rock by prior operators. This historical work has delineated multiple historical mineral resource estimates on the Project. For information concerning these estimates and the Project, readers are encouraged to review "NI 43-101 Technical Report on the Marudi Property, Guyana", a technical report prepared for the Company by Derrick Strickland, P. Geo., and is available on the Company's website www.guyanagoldstrike.com/images/pdf/2016/Marudi_43-101_November_30_2016.pdf and under the Company's profile on SEDAR www.sedar.com.*

    There exists excellent exploration upside through exploration and development of previously identified, highly-prospective mineralized targets on the Project. The Project has a mining license in good standing, all-season road access, infrastructure in place, with an established mining camp served by employees, service buildings, and a full-time mining manager.

    * The Company considers these estimates to be historical, and cautions that a Qualified Person has not done sufficient work to classify the historical estimates as current mineral resources or mineral reserves in accordance with National Instrument 43-101.The Company does consider these historical estimates to be relevant as they may indicate the presence of gold mineralization and favourable geology.

    About Guyana

    The Republic of Guyana is located in South America between Venezuela and Suriname. The country is English speaking under British Common Law with a democratically elected government. It has an established mining act and rich history of gold production. In 2013, 458,000 ounces of gold were produced by operators mining in the country. The Guiana Shield has over 100 million ounces of gold inventory and is world-recognized as a premier gold region.* With geological continuity with West Africa, the shield is highly prospective and very under-explored. In 2016, two mines declared the commencement of commercial production: Aurora deposit (Guyana Goldfields) and the Karouni deposit (Troy Resources).

    * Independent Technical and Environmental Review Karouni Gold Project - Guyana, Behre Dolbear Australia Pty Ltd, April 29, 2016

    Qualified Person

    Locke Goldsmith, M.Sc., P. Eng, P. Geo, Chief Geologist and Exploration Manager is the Company's Qualified Person for technical disclosure in accordance with National Instrument 43-101. Mr. Goldsmith has reviewed and approved the technical content of this news release.

    The Company encourages all interested parties to visit the Company's website for further information or contact the company via telephone or email: info@guyanagoldstrike.com or 1.877.844.4661.

    Website: www.guyanagoldstrike.com
     
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    Guyana Goldstrike Completes 3D Modelling of Gold Assays and Drill Intercepts


    3D Drilling Data to be Used to Establish a Current Gold Mineral Resource for Marudi Gold Project



    Guyana Goldstrike (GYA.V) is pleased to announce that it has received the 3D modelling of legacy drill data from mining engineering firm MineIt Consulting Inc. (“MineIt”) on the Company’s Marudi Gold Project ("Marudi") located in Guyana, South America.



    Marudi has had a substantial amount of geological work completed by previous mining operators, such as Noranda Inc., Sutton Resources Ltd., and Vanessa Ventures Ltd. A total of over 42,000 metres of historical diamond drilling equalling 141 drill holes has been performed on the property, of which 90 holes are represented in the modelling. As a result of this prior exploration, Guyana Goldstrike has the benefit of a large data bank of geological information that has assisted the Company in furthering its exploration objectives towards the goal of establishing a current mineral resource.


    News Link: https://web.tmxmoney.com/article.php?newsid=7189289491428072&qm_symbol=GYA
     
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    Guyana Goldstrike Reports Gold Royalty Payments from Marudi


    Guyana Goldstrike Inc. (TSXV: GYA, OTC: GYNAF, FSE: 1ZT) announced receiving royalty payments from alluvial mining on the Marudi Gold Project.

    President and CEO, Mr. Peter Berdusco stated, “Marudi is a very unique mining project in that it hosts three separate gold bearing areas; the alluvial areas, saprolite overburden and the under-lying hard rock. Under a cooperative agreement artisanal miners have been given access to mine the alluvial areas of the Property in return for an in-kind royalty payment.” Mr. Berdusco continued, “The royalty payment will assist with offsetting the operational costs of the Marudi mining camp and other expenses making it a win-win for all involved.”

    In the 6 months ending September 31, 2017 the small-scale alluvial miners (“Artisanal Miners”) recovered approximately 618.20 gross Au oz from mineralized material mined from the Property’s alluvial areas and artisanal alluvial tailings. This has resulted in a total of 61.82oz/Au paid as an in-kind 10% royalty to Romanex Guyana Exploration Ltd. (“Romanex”), the Guyanese operating subsidiary of Guyana Goldstrike. This royalty is paid under a cooperative agreement between Romanex and the Artisanal Miners.

    On August 4, 2017 Romanex sold 30.57 oz/Au in the form of fines to the Guyana Gold Board, Georgetown for a price of $1269.30/oz USD and for a net sale of $35,686.00 USD after smelting costs, and a 5% royalty to the Government of Guyana. The gold was assayed at 97% purity.

    On October 25, 2017 Romanex sold a further 31.25 oz/Au in the form of fines to the Guyana Gold Board for a price of $1275/oz USD and for a net sale of $36,487.00 USD after smelting costs and a 5% royalty to the Government of Guyana. The gold was assayed at 97% purity.

    As a result of the August and October sales, total gold sales of $72,173.00 USD are reported for this period.

    Romanex estimates that it has incurred approximately $9,750.00 USD of costs in connection with the supervision of activities which resulted in this royalty payment, and the preparation and transportation of gold to the Guyana Gold Board.

    The Company first announced a gold royalty payment from Artisanal Mining in a news release dated June 14, 2017, which resulted in $106,490 USD in net sales. The payment represented a 6 month production period from October 1, 2016 to March 31, 2017. An unusually long rainy season which extended from May to August of this year accounts for the drop in production by the Artisanal Miners over this current reporting period.


    About the Artisanal Mining

    Through a cooperative agreement, Artisanal Miners have been given company-controlled access and oversight to work the alluvial areas (creeks, edges and new channels) of the Property; and also, the alluvial tailings that have been mined in the past by Artisanal Miners. A stipulation of the agreement is the requirement that the Artisanal Miners incorporate only those mining practices acceptable to the Environmental Protection Act of Guyana.

    Under the agreement the Artisanal Miners pay Romanex an in-kind royalty equal to 10% of all gross gold produced. The intent under the agreement is to provide economic opportunity for Artisanal Miners in the local community, restore historic workings and creek channels and to generate some cash flow.

    The decision to allow Artisanal Miners to commence small-scale mining on alluvial areas of the Property was a decision solely based on corporate social responsibility. The production of gold from the Property by the Artisanal Miners has not been based on a feasibility study nor are there any mineral resources or reserves identified in the area which is subject to the Artisanal Mining. The decision to mine is one made by the Artisanal Miners; the Company and Romanex acknowledge that there is increased uncertainty and economic and technical risks of failure associated with the actions of the Artisanal Miners.


    Qualified Person

    Locke Goldsmith, M.Sc., P. Eng, P. Geo, Chief Geologist and Exploration Manager for the Company, is a Qualified Person in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects. Mr. Goldsmith has reviewed and approved the scientific and technical content of this news release.


    www.guyanagoldstrike.com
     
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    Guyana Goldstrike Inc.

    Gold Royalties - Historical Resource - Near Term Producer


    Micro Cap Stock


    Guyana Goldstrike Inc. (GYA.V / GYNAF) recently had two significant news releases. The impact in the market has been a upward movement in share price, climbing from a low of 17 cents to up to 34 cents to get within sight of the all-time high at 35 cents set on May 2, 2017.

    Technically, the stock price broke over its 50-day moving average on October 12, subsequently continuing the climb to the 200 day moving average two weeks later viewed as bullish trend. With the surge in price per share, the 50 DMA is now rising towards the 200 DMA, holding a trajectory that likely will result in a bullish component, a sign of positive sentiment in the chart.

    The company received the 3D modeling of drill data at its Marudi Gold Project in Guyana, South America, created by the experts at Minelt Consulting. The 3D model is on display on Guyana Goldstrike’s home page, provides some color to the substantial historical work completed at Marudi by previous operators, including Noranda, Sutton Resources and Vanessa Ventures.

    There have been 141 diamond drill holes completed totaling 42,000 meters of drilling. This gives the company a large data set to define upcoming drill targets in relatively concentrated areas of the project that by-large remains mostly unexplored. The 3D modeling focuses on 90 drill holes at Marudi North and Mazoa Hill, the two main mineralized zones at Marudi. The data from these areas indicate that gold mineralization remains open in multiple directions, making them ideal targets for more exploration and development.

    Guyana Goldstrike chief executive Peter Berdusco said in a statement announcing the 3D modeling that the company is now able to fast track a new mineral resource estimate, a move that would give the company “a clear advantage when compared to many other exploration-stage juniors.”

    Another area where it’s arguable that Guyana Goldstrike has an advantage over similar-size gold juniors is that the company currently generates revenue from its property.

    This is accomplished through a cooperative agreement with alluvial miners, granting them access to alluvial areas at Marudi under the oversight of the Romanex Guyana Exploration, the company’s operating Guyanese subsidiary. In the six months ended September 30, 2017, the small-scale alluvial miners recovered about 618.2 ounces of gold from creeks, edges, new channels and tailings piles at the property.

    Per the agreement, Romanex receives 10 percent of the gross gold ounces for allowing the miners access. Romanex received 61.82 ounces of gold that assayed 97 percent purity. In August, 30.57 ounces were sold in the form of gold fines to the Guyana Gold Board for $1,269.30 per ounce, followed by the sale of 31.25 ounces at $1,275.00 per ounce in October. After smelting expense and giving the Guyana government a 5 percent royalty, the company netted $72,173.00 from the sales.

    In the last six months, gold sales brought in $106,490 to the company. Management said that the lower sales in the recent period was due to an unusually long rainy season that slowed gold production. It’s cash flow that can be used to offset development expenses at the highly prospective gold project.

    And it’s part of a business model that Guyana Goldstrike is efficiently executing on, a fact the market seems to be recognizing and embracing this undiscovered company.

    BNN TV

    www.guyanagoldstrike.com
     
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