Aranka Project
The Aranka property consists 19 contiguous prospecting licenses covering over 307,589 acres, located 19 miles north east of the Aurora Base Camp.
The Aranka Gold Project is in the prospecting and advanced exploration stage of development. Current activities include drilling, field mapping, geochemical sampling, and testing of potential zones by trenching and exploratory drilling.
Guyana Goldfields announced the acquisition of three additional properties in the Aranka district in October 2009 called Properties A, B and C (see press release dated October 20, 2009 on Sedar). These properties form part of a contiguous land package of over 300,000 acres. Company geologists have so far identified two areas for immediate follow up exploration work including diamong drilling on properties A and C. The company has budgeted US $6 Million for exploration at Aranka for 2010.
Property A (Sulphur Rose-24,000 acres):
Latest assay results have been received in June 2010 from an additional seven (7) diamond drill holes from a total of thirty eight (38) holes aggregating 11,535 meters drilled to date. The current drill program is targeting the mineralization both laterally and at deeper levels.
Highlights Include:
Drill hole SDH-20, located at the northwestern section of the mineralization yielded a broad high grade interval of 37.5 metres grading 3.55 g/t Au including 8 metres at 10.43 g/t Au. Another zone down the hole returned 21 metres grading 2.27 g/t Au.
Drill hole SDH-21, drilled on the same section as SDH-20 returned a wide high grade zone of 27.5 metres at 3.15 g/t Au including a better grade interval of 14 metres at 5.84 g/t Au.
Drill hole SDH-22, the northwestern-most drill hole that traced the lateral extent of the mineralization, returned 17.5 metres at 0.74 g/t Au.
The latest drill results continued to confirm the highly distinct northwest trending sigmoidal shaped zone of significant gold mineralization. It has effectively extended the lateral continuity of the mineralization to over 500 metres strike length and close to 100 metres at its widest. It also has identified two higher-grade zones to the southeast and northwest. Mineralization has been extended to approximately 200 meters below surface and still open at depth.
Exploration activities will continue to trace the lateral and vertical extent of the mineralization with two drill rigs currently conducting drilling at the property. A recent re-interpretation of the geophysics identified three more potassium anomaly targets identical to the Sulphur Rose discovery within 3 kilometres of the current drilling.
Exploration activities have been intensified with two drill rigs currently conducting drilling at the property. More geophysical targets proximal to the drilling area have been identified and show similar strong potassium signatures.
In addition to the Sulphur Rose zone, a team of four (4) geologists has commenced reconnaissance work farther north of the concession area at the Wynamu prospect tofollow-up anomalous gold in stream sediments and coincident geophysical potassium anomalies.
Property C (Kopang- 22,000 acres):
An initial six drill holes were completed late 2009 totaling 1,641 meters. Hole KHD-05 returned a best interval of 0.92 g/t Au over 10 meters (51 – 61m) and KHD-04 yielded 4.56 g/t Au over 3.1 meters (93.9 –97.0m). The limited drilling so far has not yet pinpointed a deposit for delineation drilling follow-up. However, elevated gold values in drill core and trenches as well as the presence of associated favorable silica-pyrite alteration are indicative of a gold mineralized hydrothermal system that passed through the property. The Company is currently conducting additional sampling and trenching programs on Property “C”.