Groete Gold Deposit Inferred Resource Calculation based on 2012 DrillingThe Conversation (0)
Gold Port Corporation (CSE: GPO) (OTCQB: GPOTF) (the "Company") is pleased to advise that drill core bulk samples from the Groete Gold Project have been received by SGS Laboratories of Lakefield, Ontario for leach testing. The purpose of the program is to evaluate Groete Gold Project samples for amenability to new generation leaching agents. Several reagents will be tested, with further details to follow. The program is under the supervision of Mr. Eugene Puritch P.Eng., FEC, CET and D. Grant Feasby, P.Eng., of P&E Mining Consultants Inc., both independent Qualified Persons under National Instrument 43-101.
The Company is well funded to continue its evaluation of the Groete Gold Copper Project located in Guyana . A 2023, 35 core hole drill program has been designed to delineate a higher grade gold zone within the known deposit. The Company owns and operates its own new Multi-Power track mounted core drill rig and additional heavy equipment. Project access is under design, and will require a new access route from a nearby road network.
The Project was last explored in 2012, which included a drill program that allowed the calculation of an Inferred Mineral Resource of 1.57 million gold equivalent ounces (gold plus copper) within 74 million tonnes, at a grade of 0.66 grams per tonne gold equivalent. A cut-off grade of 0.25 gold equivalent grams per tonne, a gold price of US$1,275 per ounce and copper price of US$3.00 per pound was used in the calculation of the Inferred Mineral Resource. Details of the Mineral Resource are contained in a National Instrument 43-101 report titled, Technical Report and Updated Mineral Resource Estimate on the Groete Gold Copper Deposit, Groete Property, Guyana , South America by P&E Mining Consultants Inc., dated April 16, 2019 , available on SEDAR and the Company website at www.goldportcorporation.com
On behalf of the Board of Directors
Adrian F. C. Hobkirk
President, CEO and Director
T: 954-684-8040
E: info@goldportcorporation.com
W: www.goldportcorporation.com
Mr. William Feyerabend , a Consulting Geologist and Qualified Person under National Instrument 43-101, participated in the writing of this press release and approves the scientific and technical content.
No stock exchange or securities regulatory authority has reviewed or accepted responsibility for the adequacy or accuracy of this release.
This news release contains certain "forward-looking statements" within the meaning of Section 21E of the United States Securities and Exchange Act of 1934, as amended. Except for statements of historical fact relating to the Company, certain information contained herein constitutes forward-looking statements. Forward-looking statements are based upon opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors which could cause actual results to differ materially from those projected in the forward-looking statements. The reader is cautioned not to place undue reliance on forward- looking statements. We seek safe harbor.
View original content: https://www.prnewswire.com/news-releases/leach-testing-begins-on-groete-creek-gold-project-samples-301851270.html
SOURCE Gold Port Corporation
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Figure 1 – Simplified geological cross-section showing recent results, mineralisation interpretation, Mineral Resource block model and planned RC holes; Section location shown in plan on Figure 2 (A-A1).
Figure 2 – Plan Overview, Apollo Hill RC Holes. Previously reported holes >1 Gram Metre (g/t Au x Metres) with all holes reported in this announcement illustrated. 2023 Apollo Hill Mineral Resource1 Pit Shell Outline seen at 350RL (Average Surface RL); Figure 1 cross-section illustrated as line A-A1 on this diagram.