VANCOUVER, June 22, 2012 /CNW/ - Guyana Frontier Mining Corp.
("Guyana Frontier") is pleased to provide an update on the results
of the remaining six diamond drill holes from the Marudi Mountain
Gold Project ("Marudi Mountain") in Guyana, South America. The six
holes reported here, totalling 909.5 metres, were drilled at the
Marudi North target area from two collar locations, of which three
holes encountered gold mineralization. The 2012 drilling program at
Marudi North successfully intersected gold mineralization within
quartzite-metachert rocks (the "host rock") in six of the nine
holes drilled. In all, 1,977.47 metres were drilled in 12 holes at
both target areas during the Phase 1 drilling program. Nine holes
totalling 1,438.17 metres were drilled in the Marudi North segment
of the 2012 drilling program, and 539.30 metres were earlier
completed in 3 holes at Mazoa Hill. Highlights of Marudi North
Diamond Drilling, Final Holes (See Table 1 for detailed results) --
DDH MN12-137 returned a weighted average of 0.77 grams/tonne gold
over 9.81 metres from 195.13 to 204.94 metres. -- DDH MN12-140
returned a weighted average of 1.90 grams/tonne gold over 8.19
metres from 72.5 to 80.5 metres, including 3.40 grams/tonne over
4.0 metres from 74.50 to 78.50 metres. -- DDH MN12-141 returned a
weighted average of 0.31 grams/tonne gold over 6.0 metres from 60.0
to 66.0 metres. The goals of Guyana Frontier's 2012 drilling
program were twofold: to confirm historical results at the Mazoa
Hill target area where drilling by previous explorers in the 1990s
identified a substantial zone of gold mineralization, and to
identify new zones of gold mineralization at the Marudi North
target area that could be related to Mazoa Hill. Mazoa Hill Target
Area Guyana Frontier's three Mazoa Hill 2012 drill holes showed
significant gold mineralization, as indicated by holes MH12-130,
-131 and -132. For example, hole MH12-132 returned a weighted
average of 2.59 grams/tonne gold over 37.47 metres from 47.03 to
84.5 metres, which included 11.06 metres of 5.85 grams/tonne gold
from 63.44 to 74.5 metres, and 2.0 metres of 11.0 grams/tonne gold
from 66.5 to 68.5 metres (see Guyana Frontier's news release of May
2, 2012). Guyana Frontier has access to most of the historical
drill core from the 1991-1995 and 2004 drilling programs on site in
a secure storage facility, and prior to further drilling plans to
carry out additional re-logging, re-sampling and re-assaying
programs to add further understanding of the historical gold
resource, which is not compliant with the standards of National
Instrument 43-101 (see Guyana Frontier's review of the Mazoa Hill
historical resource estimate in its news release of June 6, 2012).
Marudi North Target Area At Marudi North, located 1.6 kilometres to
the north of Mazoa Hill, Guyana Frontier has begun to define a new
zone of gold mineralization, and has collected valuable subsurface
geological information for integration with prior results of
trenching and soil sampling, and planned geophysical surveys.
Previously reported holes MN12-134 returned a weighted average of
4.29 grams/tonne gold over 17.55 metres from 12.50 to 30.05 metres,
which included 12.0 metres of 5.54 grams/tonne gold from 12.50 to
24.50 metres, and MN12-135 returned a weighted average of 1.80
grams/tonne gold over 32.24 metres from 23.26 to 55.50 metres (see
Guyana Frontier news release dated May 24, 2012). Three of the last
six holes drilled in the Marudi North target area encountered
varying amounts of gold mineralization in the host rock. The host
rock appears to be faulted and deformed in this western area of
Marudi North, which made targeting more difficult. For example, in
hole MN12-137, a feldspar-porphyry dyke and extensive faults were
encountered at the expected location of the upper host rock target
zone, and the lower zone host rock was not intersected until 195.13
metres to 204.94 metres. In hole MN12-138, the host rock was not
intersected, despite its suggested strike and direction interpreted
from the 2011 trenching program. In holes MN12-140 and -141, the
host rock unexpectedly appears to trend westerly and dip southerly.
The geological characteristics and mineralization of the host rock
at Marudi North is therefore not completely understood, and demands
further drilling to determine its full potential. To view a map
depicting the locations of the completed 2012 drill holes and
historical drill holes at Marudi Mountain, and for a detailed list
of the 2012 drilling results, please visit Guyana Frontier's
website at http://www.guyanafrontier.com/s/MarudiMountain.asp#dpm
Table 1. Marudi Mountain Project: Gold Results for 2012
Marudi North Drilling, Holes MN12-136, -137, -138, -139, -140 and
-141.
__________________________________________________________________________________
| | | | | Final | | | | Gold | | Hole |Location| Azimuth | Dip |
Depth | From | To |Interval| Intercept | | # |
|(degrees)|(degrees)| of Hole | (m) | (m) | (m) | (grams/ | | | | |
| (m) | | | | tonne) |
|________|________|_________|_________|_________|______|______|________|___________|
|MN12-136| Marudi | | | | | | | no | | | N. | 115° | -50 | 37.50 |
- | - | - |significant| | | | | | | | | |gold values|
|________|________|_________|_________|_________|______|______|________|___________|
|MN12-137| Marudi | 115° | -55 | 292.50 |195.13|204.94| 9.81 | 0.78
| | | N. | | | | | | | |
|________|________|_________|_________|_________|______|______|________|___________|
|MN12-138| Marudi | | | | | | | no | | | N. | 135° | -55 | 136.50 |
- | - | - |significant| | | | | | | | | |gold values|
|________|________|_________|_________|_________|______|______|________|___________|
|MN12-139| Marudi | | | | | | | no | | | N. | 295° | -55 | 193.50 |
- | - | - |significant| | | | | | | | | |gold values|
|________|________|_________|_________|_________|______|______|________|___________|
|MN12-140| Marudi | 140° | -55 | 139.50 |48.97 |57.16 | 8.19 | 0.31
| | | N. | | | | | | | |
|________|________|_________|_________|_________|______|______|________|___________|
| | Marudi | | | |72.50 |80.50 | 8.0 | 1.90 | | | N. | | | | | | |
|
|________|________|_________|_________|_________|______|______|________|___________|
| | | | |including|74.50 |78.50 | 4.0 | 3.40 |
|________|________|_________|_________|_________|______|______|________|___________|
|MN12-141| Marudi | 165° | -55 | 110.00 | 36.0 |42.50 | 8.95 | 0.26
| | | N. | | | | | | | |
|________|________|_________|_________|_________|______|______|________|___________|
| | | | | | 60.0 | 66.0 | 6.0 | 0.30 |
|________|________|_________|_________|_________|______|______|________|___________|
The true widths of the mineralized intervals reported herein, and
the geometry of the mineralized zones are not currently known.
Mineralized intervals were calculated using a 0.1 grams/tonne
cutoff grade. Intervals containing below cutoff grade were excluded
from the calculations when they were 6 metres or greater in length.
Analytical Methods and Quality
Control All drill samples
were shipped directly to the independent preparation facility of
Acme Laboratories Ltd. in Georgetown, Guyana ("Acme Guyana") for
sample preparation. Both gold fire assay determinations and
multi-element analyses were conducted in Acme's facility in
Santiago, Chile ("Acme"). At Acme Guyana, the core samples were
crushed to 80% passing 10 mesh (1.7 mm), then split to provide a
500 gram subsample which was pulverized to 85% passing 200 mesh (75
microns). A 50 gram split was subject to fire assay with an AA
finish. Samples with results over 10 ppm gold were subject to a
gravimetric analysis and results are reported in grams per tonne,
with a lower limit of 0.005 grams per tonne. A separate sub-sample,
0.25 grams of the pulp, was subject to a 4-acid digestion and
analyzed by ICP/ES (Emission Spectroscopy) for 36 elements. Guyana
Frontier's 2012 diamond drilling program is subject to an industry
standard QA/QC program, which includes the use of standards and
blanks. Assays of all of the standards returned values within
the acceptance window, and re-runs of pulps and duplicates of pulps
were found to be consistent. Certain mineralized samples that may
be subject to the "nugget effect," or a form of localized
enrichment within the sample, are being re-submitted to Acme for
total metallic assay. In addition, 5 percent of the received
analyses, have been, or are in the process of being re-submitted to
a laboratory independent of Acme Labs for check assay in order to
monitor and assess analytical accuracy. The technical work
disclosed in this document was planned and reviewed by Locke
Goldsmith, M.Sc., P.Eng., P.Geo., an independent consultant to
Guyana Frontier, who is a Qualified Person as defined in National
Instrument 43-101 - Standards of Disclosure for Mineral Projects
("NI 43-101"), and is responsible for and has approved all
technical information contained in this news release. About the
Marudi Mountain Project Marudi Mountain consists of one mining
licence totalling 13,502 acres (5,464 hectares) located in southern
Guyana approximately 500 kilometres (330 miles) from the capital
city of Georgetown. Guyana Frontier also holds a prospecting
licence for the adjacent Paint Mountain property, totalling 8,848
acres (3,581 hectares), where Guyana Frontier commenced surface
exploration in 2011. Detailed trenching, mapping and sampling was
carried out at Paint Mountain in 2012 on the basis of favourable
geology and the presence of artisanal alluvial gold miners. An
airborne magnetic and radiometric survey is planned for both the
Marudi Mountain and the Paint Mountain projects in 2012. 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. FORWARD LOOKING STATEMENTS This release contains
"forward-looking statements" within the meaning of applicable
Canadian securities legislation. Forward-looking statements
include, but are not limited to, statements that address
activities, events or developments that Guyana Frontier expects or
anticipates will or may occur in the future, including such things
as the receipt of further results from Guyana Frontier's 2012
drilling program, planned additional exploration activities at
the Marudi Mountain and Paint Mountain properties, the
establishment of an NI 43-101 compliant resource at the Marudi
Mountain property, future business strategy, competitive strengths,
goals, expansion, growth of Guyana Frontier's businesses,
operations, plans and with respect to exploration results, the
timing and success of exploration activities generally, permitting
time lines, government regulation of exploration and mining
operations, environmental risks, title disputes or claims,
limitations on insurance coverage, timing and possible outcome of
any pending litigation and timing and results of future resource
estimates or future economic studies. Often, but not always,
forward-looking statements can be identified by the use of words
such as "plans", "planning", "planned", "expects" or "looking
forward", "does not expect", "continues", "scheduled", "estimates",
"forecasts", "intends", "potential", "anticipates", "does not
anticipate", or "belief", or describes a "goal", or variation of
such words and phrases or state that certain actions, events or
results "may", "could", "would", "might" or "will" be taken, occur
or be achieved. Forward-looking statements are based on a number of
material factors and assumptions, including, the result of drilling
and exploration activities, that contracted parties provide goods
and/or services on the agreed timeframes, that equipment necessary
for exploration is available as scheduled and does not incur
unforeseen break downs, that no labour shortages or delays are
incurred, that plant and equipment function as specified, that no
unusual geological or technical problems occur, and that laboratory
and other related services are available and perform as contracted.
Forward-looking statements involve known and unknown risks, future
events, conditions, uncertainties and other factors which may cause
the actual results, performance or achievements to be materially
different from any future results, prediction, projection,
forecast, performance or achievements expressed or implied by the
forward-looking statements. Such factors include, among others, the
interpretation and actual results of current exploration
activities; changes in project parameters as plans continue to be
refined; the existence of weather conditions suitable for
exploration activities; future prices of minerals; possible
variations in grade or recovery rates; failure of equipment or
processes to operate as anticipated; the failure of contracted
parties to perform; labour disputes and other risks of the mining
industry; delays in obtaining governmental approvals or financing
or in the completion of exploration, as well as those factors
disclosed in Guyana Frontier's publicly filed documents. Although
Guyana Frontier has attempted to identify important factors that
could cause actual actions, events or results to differ materially
from those described in forward-looking statements, there may be
other factors that cause actions, events or results not to be as
anticipated, estimated or intended. There can be no assurance that
forward-looking statements will prove to be accurate, as actual
results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should not
place undue reliance on forward-looking statements.
Guyana Frontier Mining Corp. CONTACT: For further information about
Guyana Frontier, please visit ourwebsiteat www.guyanafrontier.com
or contact Warren Stanyer, President and CEO,at (604) 558-0077.
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