(TheNewswire)
Vancouver, BC - TheNewswire - Aug. 16, 2023 - Guyana Goldstrike Inc. (the “Company” or “Goldstrike”) (TSXV:GYA), dba Copper-X Mining Inc., is pleased to announce that exploration has commenced at the Jupiter Copper Project (the “Jupiter Project”) for the purpose of completing a National Instrument 43-101 Technical Report.
A team, inclusive of independent Qualified Person, has arrived on-site at the Jupiter Project located 90km south of Antofagasta, Chile. Initial exploration will include geochemical sampling and geological mapping. Focus will be on areas of historical sampling of known copper mineralisation in rock outcrop, primarily follow-up exploration to work completed in 2021 (Petrogaia). Initial assays will be delivered to the lab as early as next week. Desktop review of historical geological and geo-technical work has commenced.
Jupiter Copper Project
Multiple historic rock samples assayed copper values in excess of 2.0% copper per tonne (see Fig. 1). The main area of focus surrounds the north central area of samples 5 and 6 which is correlated to the edge of a magnetometer low (see press release dated August 2). This will be the main focus of exploration moving forward with the goal of identifying drill pad locations. The ongoing exploration program is planned to include:
1. drone based mapping;
2. geotechnical sampling of approximately 300 samples;
3. detailed geological mapping of primary zones of interest;
4. to be determined, satellite remote sensing study inclusive of:
a. orthographical photo
b. detailed topography
c. infrared reflectivity image detailing soil, clay, and rock zones;
5. identification of 8-10 drill sites for follow-up drilling (no permit require under 20 drill pads and 20,000 meters).
Fig. 1 – Property Map
Project Highlights
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Property size of 4,000 Hectares
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Targets 1 2 host copper in proximity to historic workings and mine developments.
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Target 1 has evidence of copper mineralization in a corridor of 3 x 2 kms.
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Airborne MAG shows that mineralization is consistent with low mag, indicating several untested areas.
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The abundant microdioritic dykes are interpreted to be feeders of high-grade copper mineralization in both gabbro and andesites.
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Numerous targets are interpreted to be present in proximity to contact zones of mafic intrusives and La Negra Fm volcanics – favourable for hosting hydrothermal solutions rich in copper.
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The main alteration associated with Cu mineralization is albite – epidote – magnetite.
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Mineralization is observed as disseminations and in quartz-albite-epidote veins in fractures as oxide Cu (atacamite – chrysocolla – malachite black oxides).
Project Description
The Jupiter project is accessible by paved road 90kms south of Antofagasta city, the major mining hub in northern Chile, with access to renewable power and adjacent to the ocean to secure access to sea water. The underexplored Jurassic Volcanic/IOCG Belt is host to world class mine operations including Michilla, Antofagasta’s Antucoya, Mantos Copper’s Mantoverde and Mantos Blanco, Teck’s Carmen de Andacollo, Lundin’s Candelaria, Anglo American’s El Soldado; and major projects including Marimaca Copper Corp’s Marimaca, Hot Chili’s Productora-Cortadera and Capstone’s Santo Domingo.
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Fig. 2 - Chile Coastal Belt
Qualified Person
Andris Kikauka (P.Geo) is a Qualified Person in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects, and has reviewed and approved the scientific and technical content of this news release.
On behalf of the Board of Directors,
GUYANA GOLDSTRIKE INC. / COPPER-X MINING INC.
Peter Berdusco
President/CEO
877 704 1119
info@copper-x.com
copper-x.com
The TSX Venture Exchange has in no way passed upon the merits of the proposed Transaction and has neither approved nor disapproved the contents of this press release.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 the intended development of the Project, 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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