GUY extends new zone- 70m 4g/t auGuyana Goldfields drills 70 m of three g/t Au at Aurora
Guyana Goldfields Inc (C:GUY)
Shares Issued 77,254,503
Last Close8/17/2010 $7.98
Wednesday August 18 2010 - News Release
Mr. Claude Lemasson reports
GUYANA GOLDFIELDS EXTENDS NEW ZONES - 70M AT 3.00 G/T AU ATAURORA
Guyana Goldfields Inc.'s diamond drilling at the company's100-per-cent-owned Aurora gold project has extended previously announced newzones (see press release dated April 20, 2010). The Company has intersectedmultiple areas of significant new gold mineralization in the "Golden SquareMile". The property is currently the subject of a definitive feasibility studybeing prepared by AMEC Americas Limited in Oakville, Ontario.
Assay results from six (6) new drill holes in the new AleckHill zone have significantly expanded the recent discovery in this area. Thelatest results demonstrate gold mineralization over a 180m strike length and125m along dip, with true widths of mineralization varying from 25 to 50m.Highlights of the drilling include holes AHD-133, which returned 70m @ 3.00 g/tAu, including 14m @ 8.20 g/t Au as well as hole AHD-136 which returned 50m @2.93 g/t Au, including 4m @ 9.30 g/t Au and 6m @ 11.87 g/t Au. These new zonesremain open along strike and dip.
Drilling has also significantly expanded the down dipcontinuity of gold mineralization in the new Mad Kiss zones. Highlights includeholes MKD-90 which returned 18m @ 12.20 g/t Au and MKD-91 which returned 26m @2.33 g/t Au and 40m @ 1.88 g/t Au. True widths of mineralization in the variousMad Kiss zones vary from 10 to 35m and all of the zones remain open at depth.
The latest results from the ongoing "Golden Square Mile"exploration are tabulated in the attached intercept spreadsheet and illustratedin the 3D models. These results are not included in the current data set of theongoing AMEC resource calculation and feasibility study.
Patrick Sheridan, CEO of Guyana Goldfields states, "Drillingresults at the Aurora Property continues to prove that the "Golden Square Mile"has significant potential to grow outside of the known resource estimate of 4.58million ounces. Exploration drilling is ongoing in the "Golden Square Mile" andalso parallel step-out drilling is occurring to follow up on various targets.
INTERCEPT TABLE FOR THE PERIOD APRIL 15 TO JULY 28, 2010
Area Hole No. Drill intercept (metres) Gold
From To Width (g/t)
Aleck Hill AHD-125 134.00 146.00 12.00 17.77
16.49 (cut to 25 g/t Au)
Aleck Hill AHD-126 19.00 23.00 4.00 0.54
Aleck Hill AHD-127 no significant results
Aleck Hill AHD-128 231.00 234.00 3.00 0.74
254.00 256.00 2.00 0.56
Aleck Hill AHD-129 4.50 9.00 4.50 2.01
122.90 130.50 7.60 1.35
180.00 182.00 2.00 0.91
357.00 360.00 3.00 0.70
Aleck Hill AHD-130 172.00 174.00 2.00 0.90
234.00 236.00 2.00 0.62
Aleck Hill AHD-131 no significant results
Aleck Hill AHD-132 153.00 157.00 4.00 0.67
181.00 211.00 30.00 0.81
including 203.00 205.00 2.00 4.30
Aleck Hill AHD-133 198.00 200.00 2.00 1.02
221.90 224.10 2.20 1.41
275.00 345.00 70.00 3.00
2.95 (cut to 25 g/t Au)
including 286.50 305.00 18.50 4.28
including 286.50 292.00 5.50 9.14
including 327.00 341.00 14.00 8.20
7.96 (cut to 25 g/t Au)
including 329.00 337.00 8.00 12.65
12.22 (cut to 25 g/t Au)
Aleck Hill AHD-134 127.00 131.00 4.00 3.84
291.00 293.00 2.00 2.72
316.00 319.00 3.00 1.53
Aleck Hill AHD-135 62.00 64.00 2.00 1.49
170.00 172.00 2.00 1.71
188.00 190.00 2.00 0.99
218.00 220.00 2.00 0.81
Aleck Hill AHD-136 45.50 49.50 4.00 1.60
72.50 76.50 4.00 0.94
100.50 108.50 8.00 1.25
216.00 218.00 2.00 1.12
270.00 272.00 2.00 1.53
342.00 392.00 50.00 2.93
including 344.00 348.00 4.00 9.30
including 364.00 370.00 6.00 11.87
including 386.00 390.00 4.00 7.25
424.00 426.00 2.00 0.58
Aleck Hill AHD-137 54.00 60.10 6.10 2.53
163.00 165.00 2.00 17.20
Aleck Hill AHD-138 no significant results
Aleck Hill AHD-139 31.00 71.00 40.00 0.73
including 31.00 42.00 11.00 2.02
including 59.65 62.00 2.35 1.22
288.00 294.00 6.00 0.54
328.90 375.00 46.10 2.49
including 328.90 341.00 12.10 4.97
including 332.35 339.10 6.75 7.64
including 355.00 361.55 6.55 5.75
Aleck Hill AHD-140 66.00 68.00 2.00 2.91
82.00 102.00 20.00 0.95
including 93.50 98.00 4.50 2.45
115.00 165.00 50.00 0.67
including 115.00 119.00 4.00 1.95
including 141.00 146.00 5.00 1.90
including 150.00 152.00 2.00 1.52
including 154.00 156.00 2.00 1.35
including 160.00 162.50 2.50 1.06
Aleck Hill AHD-141 69.00 90.00 21.00 1.38
including 69.00 75.00 6.00 0.47
including 87.00 90.00 3.00 8.67
267.00 342.00 75.00 2.44
including 267.00 272.75 5.75 5.11
including 293.00 298.00 5.00 4.39
including 303.80 319.50 15.70 3.62
including 334.00 339.90 5.90 11.13
Aleck Hill AHD-142 87.00 91.00 4.00 1.53
117.00 131.00 14.00 1.38
including 121.00 125.00 4.00 3.90
147.00 158.00 11.00 1.66
including 150.50 151.60 1.10 14.20
197.00 205.00 8.00 4.10
including 199.00 203.00 4.00 7.70
292.00 296.00 4.00 3.34
356.00 384.00 28.00 1.88
including 374.00 384.00 10.00 5.02
including 374.00 378.00 4.00 11.75
407.00 417.00 10.00 1.01
Aleck Hill AHD-143 no significant results
Aleck Hill AHD-144 52.00 54.00 2.00 0.61
147.00 171.00 24.00 1.22
including 168.00 171.00 3.00 5.80
288.00 312.00 24.00 1.68
including 288.00 302.00 14.00 2.64
426.00 448.00 22.00 1.93
including 426.00 428.00 2.00 7.30
including 432.00 436.00 4.00 5.49
including 446.00 448.00 2.00 1.35
Mad Kiss MKD-73 114.00 124.00 10.00 1.44
including 122.00 124.00 2.00 4.20
Mad Kiss MKD-75 220.00 224.00 4.00 0.71
Mad Kiss MKD-76 no significant results
Mad Kiss MKD-77 206.00 212.00 6.00 1.25
West zone 241.00 259.00 18.00 11.97
10.02 (cut to 25 g/t Au)
including 243.00 251.00 8.00 17.23
12.85 (cut to 25 g/t Au)
Mad Kiss MKD-83 21.00 24.00 3.00 0.75
East zone 148.00 149.00 1.00 0.69
189.00 192.00 3.00 2.87
370.15 380.15 10.00 3.43
including 374.00 378.00 4.00 5.20
Mad Kiss MKD-84 84.00 87.00 3.00 1.08
369.00 372.00 3.00 1.03
Mad Kiss MKD-85 12.00 15.00 3.00 4.00
Mad Kiss MKD-86 144.00 147.00 3.00 3.50
207.00 210.00 3.00 1.05
231.00 234.00 3.00 0.95
252.00 261.00 9.00 0.90
Mad Kiss MKD-87 55.00 57.00 2.00 3.40
268.00 272.00 4.00 0.52
Mad Kiss
East zone MKD-88 372.00 426.00 54.00 0.85
including 372.00 374.00 2.00 2.92
including 408.00 413.00 5.00 2.90
including 418.00 420.00 2.00 2.80
Mad Kiss
Main zone MKD-89 260.00 272.00 12.00 4.11
including 266.00 270.00 4.00 6.60
Mad Kiss MKD-90 301.00 319.00 18.00 12.20
Main zone 8.87 (cut to 25 g/t Au)
including 303.00 307.00 4.00 31.45
16.45 (cut to 25 g/t Au)
including 311.00 317.00 6.00 10.08
Mad Kiss MKD-91 3.00 5.00 2.00 0.70
Main zone 7.00 9.00 2.00 0.55
126.00 128.00 2.00 0.63
160.00 186.00 26.00 2.33
including 184.00 186.00 2.00 27.60
25.00 (cut to 25 g/t Au)
278.00 318.00 40.00 1.88
including 288.00 296.00 8.00 5.87
including 314.00 318.00 4.00 6.10
Mad Kiss MKD-92 no significant results
Main zone
Mad Kiss MKD-93 103.00 112.00 9.00 1.99
Main zone 384.00 397.00 13.00 4.25
including 393.00 397.00 4.00 10.30
Mad Kiss
Main zone MKD-94 371.00 383.00 12.00 3.37
including 371.00 375.00 4.00 5.33
including 377.00 381.00 4.00 3.46
Mad Kiss
Main zone MKD-95 367.00 377.00 10.00 3.53
including 367.00 373.00 6.00 5.59
Mad Kiss
West zone MKD-96 265.00 286.00 21.00 4.92
including 266.50 274.00 7.50 7.29
including 276.00 286.00 10.00 4.73
East Walcott EWD-45 0.00 6.00 6.00 8.75
37.00 40.00 3.00 1.59
79.00 82.00 3.00 0.52
97.00 136.00 39.00 2.26
including 106.00 121.00 15.00 5.42
including 106.00 109.00 3.00 24.90
East Walcott EWD-46 60.00 64.00 4.00 0.97
85.00 94.00 9.00 4.30
161.00 175.00 14.00 3.07
including 171.00 175.00 4.00 8.76
209.00 211.00 2.00 1.40
226.00 229.00 3.00 1.56
East Walcott EWD-47 17.75 21.00 3.25 1.29
East Walcott EWD-48 no significant results
East Walcott EWD-49 174.00 225.00 51.00 1.20
including 174.00 176.00 2.00 4.50
including 200.50 208.50 8.00 4.50
including 223.00 225.00 2.00 2.13
254.00 261.00 7.00 1.00
267.00 269.00 2.00 1.42
297.00 299.00 2.00 1.38
East Walcott EWD-50 57.00 107.00 50.00 2.10
including 67.00 77.00 10.00 4.44
including 81.00 83.00 2.00 5.50
including 105.00 107.00 2.00 3.40
East Walcott EWD-51 110.00 118.00 8.00 1.89
including 116.00 118.00 2.00 5.40
North Aleck
Hill AHD-66 52.50 56.50 4.00 2.38
North Aleck
Hill AHD-67 32.00 46.00 14.00 1.79
North Aleck
Hill AHD-68 24.10 26.20 2.10 0.52
252.00 260.20 8.20 1.06
276.00 288.00 12.00 0.98
including 279.20 280.60 1.40 5.20
North Aleck
Hill AHD-69 3.00 13.50 10.50 5.09
4.86 (cut to 25 g/t Au)
including 6.00 9.00 3.00 16.35
15.55 (cut to 25 g/t Au)
217.00 218.00 1.00 0.79
236.00 244.00 8.00 0.79
including 240.00 244.00 4.00 1.02
North Aleck
Hill AHD-70 9.00 16.50 7.50 1.03
including 9.00 10.50 1.50 3.30
East Rorys
Knoll RKD-153A no significant results
East Rorys
Knoll RKD-154 no significant results
East Rorys
Knoll RKD-156 no significant results
East Rorys
Knoll RKD-157 no significant results
East Rorys
Knoll RKD-158 243.00 249.00 6.00 0.75
285.00 288.00 3.00 1.03
366.00 375.00 9.00 0.55
399.00 408.00 9.00 4.74
including 402.00 408.00 6.00 6.90
435.00 450.00 15.00 2.37
East Rorys
Knoll RKD-160 182.00 185.00 3.00 2.84
East Rorys
Knoll RKD-161 40.00 43.00 3.00 2.49
Powis Hill PHD-6 no significant results
Powis Hill PHD-7 229.00 231.00 2.00 2.61
243.00 245.00 2.00 1.11
Powis Hill PHD-8 no significant results
Drill core samples were sent to and prepared at ACMEAnalytical Laboratories Ltd (ACME Lab) in Georgetown, Guyana while assaying wasdone at ACME Lab in Santiago, Chile using FA-AAS with Fire-Assay gravimetricfinish for samples with greater than 3,000 ppb.Au.
This news release and its contents have been reviewed by Mr.Niel Silvio (AusIMM/AIG), a qualified person within the meaning of NationalInstrument 43-101.
? 2010 Canjex Publishing Ltd.