The Marudi Mountain Mining License, which covers the Marudi gold project, is approximately 13,500 hectares in size and property, that is located 230 km from the town of Lethem in southern Guyana. The property is surrounded by good infrastructure, all-season road network with road access. By charter flight, a Beechcraft 1900D 50 minute flight will reach Lethem from Georgetown and an Islander flight from Lethem to the property will reach in 45 minutes.
The property was acquired in 1998 by Vanessa Ventures from Sutton Resources/Barrick, later it was acquired by Infinito Gold Ltd, and then Guyana Frontier Mining where the project was funded by Teck Resources. Guyana Frontier Mining was unable to maintain the mining license in good standing and the license was temporarily suspendered for lack of activity and reporting. The suspension was lifted in the fall of 2016 by the Guyana Geology and Mines Commission for the Romanex Guyana Exploration Ltd (RGEL) ownership group. Subsequently in 2017 Guyana Goldstrike acquired an option to purchase all of the shares of RGEL and operates in Guyana through RGEL.
The Marudi property contains a historic, non-compliant resource estimate of 403,800 Measured and Indicated gold ounces contained within 4,800,600 tonnes grading 2.60 grams per tonne (g/t) as well as 67,800 gold Inferred ounces contained within 860,900 tonnes grading 2.45 grams per tonne. The estimate, prepared by Sutton Resources LTD, 1995 and Kilborn Engineering LTD, 1995 and disclosed in the Company's most recent Technical Report filed on sedar.com, is derived from two main sites: Mazoa Hill and Marudi North. Gold mineralization identified on both sites is open at depth and to the west.