Tickers: XTSX:GYA, PINX:GYNAF, FRAA:1ZT
September 13, 2019 - TheNewswire - Vancouver, Canada - Guyana Goldstrike Inc. (the "Company" or "Guyana Goldstrike") (TSXV:GYA) (OTC:GYNAF) (FSE:1ZT) is pleased to announce the appointment of Mr. Donald J. Birak, (M.Sc., Registered Member SME, Fellow AusIMM) as Technical Advisor to the Board of Directors. Mr. Birak joins Mr. Stuart Angus, Mr. Sandy McVey and Dr. Tony Guo on the Advisory Board and will advise the Company on all technical matters relating to the exploration and development of the Marudi Gold Project ("Marudi" or the "Property") located in the Guiana Shield, Guyana, South America.
In accepting this position, Mr. Birak will be transitioning from his current board role, where he has served three years, to his new position as technical advisor. We look forward to Mr. Birak's expanded technical role and continued participation in the Company's exploration and development at Marudi.
Mr. Peter Berdusco, President and CEO stated,
"Due to his board experience and time spent on the Property, Mr. Birak has acquired extensive knowledge of, and intimacy with, the Marudi Gold Project and its geological setting. Now as a key advisor to the Company, his technical expertise and skills can be fully utilized in Marudi's next stage of exploration and development. We welcome him to the advisory board."
Mr. Birak is a Consulting Geologist with over 40 years of experience in the minerals industry. He served as Senior Vice President of Exploration and consultant for Coeur Mining Inc. from 2004 through 2013, Vice President of Exploration for AngloGold North America from 1999 to 2004, for Independence Mining Inc. from 1995 to 1999, and for Hudson Bay Mining and Smelting Co. Ltd. Currently, he serves as an Independent Director of Dolly Varden Silver Corp. and of Revival Gold Inc. He is a Registered Member of the Society for Mining, Metallurgy and Exploration (SME), a Fellow of Australasian Institute of Mining and Metallurgy (AusIMM), Fellow of the Society of Economic Geologists (SEG) and has extensive experience with Canadian and US securities regulations with respect to public reporting of exploration results and mineral resources and reserves. Mr. Birak has been published in a number of scientific and geologic journals and was a co-recipient of the 'Bill Dennis Prospector of the Year' award given by the Prospectors and Developers Association of Canada. He has a M.Sc. in Geology from Bowling Green State University.
About the Marudi Gold Project
The Company is developing the Marudi Gold Project, which has a 17-year mining license and is located in Guyana, South America. There has been 42,000 meters of historic diamond drilling completed on the project by prior operators that have delineated two zones of gold mineralization: Mazoa Hill and Marudi North zones. A mineral resource estimate has been completed on the Mazoa Hill Zone. It is open to mineralization in multiple directions and at depth.
The Company has also recently discovered a third mineralized zone, called Toucan Ridge, which is situated about 1000 metres to the northeast of the Mazoa Hill Zone. In addition to the known gold deposits and the new Toucan Ridge zone, the company has over 45 sq. kms of underexplored land and believes the greater land position has excellent upside potential for the discovery of new mineralized zones through the development of previously and newly identified mineralized bedrock targets on the project.
For information concerning the Mazoa Hill Zone Conceptual Pit Mineral Resource Estimate, readers are encouraged to review "Technical Report: Marudi Property Mazoa Hill Mineral Resource Estimate", a technical report prepared for the Company by Global Mineral Resource Services and is available at: GYA Mazoa Hill Zone 43-101 and under the Company's profile on www.sedar.com.
The Republic of Guyana is located in South America adjacent to Suriname. The country is English speaking and under British Common Law with a democratically-elected government. It has an established mining act and a rich history of gold production. In 2016, 690,000 ounces of gold was produced by operators mining in the country. The Fraser Institute's 2016 Annual Survey of Mining listed Guyana as the third best mining jurisdiction with regards to investment attractiveness in the Latin America and Caribbean Basin sub-group. The Guiana Shield is the geographic gold-hosting region and is world-recognized as a premier gold region that is highly prospective, under-explored and has geological continuity with West Africa. In 2016, two mines in Guyana declared the commencement of commercial production: the Aurora deposit (Guyana Goldfields) and the Karouni deposit (Troy Resources).
On behalf of the Board of Directors of
GUYANA GOLDSTRIKE INC.
President and Chief Executive Officer
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain certain "Forward-Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When used in this news release, the words "anticipate", "believe", "estimate", "expect", "target, "plan", "forecast", "may", "schedule" and other similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to future prices of commodities, accuracy of mineral or resource exploration activity, reserves or resources, regulatory or government requirements or approvals, the reliability of third party information, continued access to mineral properties or infrastructure, fluctuations in the market for gold, changes in exploration costs and government regulation in Guyana, status of artisanal mining activities and associated rights, and other factors or information. Such statements represent the Company's current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affections such statements and information other than as required by applicable laws, rules and regulations.
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