(TheNewswire)
Aug. 2, 2023 – TheNewswire - Vancouver, Canada - Guyana GoldstrikeInc. (the “ Company ” or“ Goldstrike ”) ( TSXV:GYA ), dba Copper-X Mining Inc., ispleased to announce that the Company has acquired geophysical datafrom the Government of Chile for use in mineral exploration. Thedata includes geophysics showing both regional and property widemagnetic lows (inverse) correlated with copper mineralized zones.
The property wide magnetic data shows a direct correlation with mediumand high-grade copper samples and magnetic lows (the blue zone),particularly near the contact with the medium resistivity readings(the green zone) (see Fig. 1 and 2). Multiple historic rock samplesassayed copper values including in excess of 2.0% copper per tonne(see Fig. 2). This area, the south-eastern area of Target 1 will bethe main focus of exploration.
Fig.1 Property-wide Magnetic Survey
Fig. 2 - Target 1 and Target 2
Both Target 1 and Target 2 have high exploration potential similar tothat discovered at Marimaca (see Fig. 3 cross section A-A’ in Target1). NW-SE trending major structures appear to be conduits/feeders forhigh-grade copper mineralization forming mantos or strataboundhorizons in receptive Andesitic volcanics adjacent togabbro-microdiorite intrusives.
Table 1 - Jupiter Historical Rock Samples (Petragaia Consulting 2021)
Fig. 3 - Target Area 1 with Cross Section A-A’
Fig. 4 - Interpretation of cross section A-A’
Exploration Plan
Exploration is expected to commence August15 th , 2023. The south-eastern area of Target 1 will be the mainfocus and planned exploration will include:
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drone based mapping;
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geotechnical sampling of approximately 200 samples;
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detailed geological mapping of primary zones of interest;
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identification of 8-10 drill sites for immediate (no permit required)follow-up drilling;
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Completion of a National Instrument 43-101 Technical Report –September 15 th , 2023;
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to be determined, satellite remote sensing study inclusive of:
a. orthographicalphoto
b. detailedtopography
c. infraredreflectivity image detailing soil, clay, and rock zones.
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 andmine developments.
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Target 1 has evidence of copper mineralization in a corridor of 3 x 2kms.
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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 ofhigh-grade copper mineralization in both gabbro and andesites.
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Numerous targets are interpreted to be present in proximity to contactzones of mafic intrusives and La Negra Fm volcanics – favourable forhosting 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 inquartz-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 ofAntofagasta city, the major mining hub in northern Chile, with accessto renewable power and adjacent to the ocean to secure access to seawater. The underexplored Jurassic Volcanic/IOCG Belt is host to worldclass mine operations including Michilla, Antofagasta’s Antucoya,Mantos Copper’s Mantoverde and Mantos Blanco, Teck’s Carmen deAndacollo, Lundin’s Candelaria, Anglo American’s El Soldado; andmajor projects including Marimaca Copper Corp’s Marimaca, HotChili’s Productora-Cortadera and Capstone’s Santo Domingo.
Fig. 5 - Chile Coastal Belt
QualifiedPerson
Andris Kikauka (P.Geo) is a Qualified Person inaccordance with National Instrument43-101 – Standards of Disclosure for Mineral Projects , and has reviewed and approved the scientific and technicalcontent 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 noway passed upon the merits of the proposed Transaction and has neitherapproved nor disapproved the contents of this press release. Neither the TSX Venture Exchangenor its Regulation Services Provider (as that term is defined in thepolicies of the TSX Venture Exchange) accepts responsibility for theadequacy or accuracy of this release.
This news release may containcertain “Forward-Looking Statements” within the meaning of theUnited States Private Securities Litigation Reform Act of 1995 andapplicable 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 identifyforward-looking statements or information. These forward-lookingstatements or information may relate to the intended development ofthe Project, and other factors or information. Such statementsrepresent the Company’s current views with respect to future eventsand are necessarily based upon a number of assumptions and estimatesthat, while considered reasonable by the Company, are inherentlysubject to significant business, economic, competitive, political andsocial risks, contingencies and uncertainties. Many factors, bothknown and unknown, could cause results, performance, or achievementsto be materially different from the results, performance orachievements that are or may be expressed or implied by suchforward-looking statements. The Company does not intend, and doesnot assume any obligation, to update these forward-looking statementsor information to reflect changes in assumptions or changes incircumstances or any other events affections such statements and information other than asrequired by applicable laws, rules and regulations.
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