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Guyana Frontier Mining Corp. (“Guyana Frontier”, formerly known as Shoreham Resources Ltd.) is pleased to announce the results of a diamond drilling program on the Borland Lake target area at the Favourable Lake Project in Ontario, Canada. The Favourable Lake Project, located approximately 200 kilometres north of Red Lake, Ontario, is a joint venture between Guyana Frontier, which holds a 70.3% interest, and Gold Canyon Resources Inc., which holds a 29.7% interest.
The 2011 drilling program successfully achieved the objective of testing a historical silver mineralized zone, last drilled by a previous operator in 1987. Two holes totaling 236 metres were completed from the ice of Borland Lake, targeting the location of the mineralized zone as interpreted from filed assessment reports, and from the interpreted results of Guyana Frontier’s 2008 Titan 24 geophysical survey.
Hole B-11-01 encountered silver, gold, lead and zinc mineralized veinlets, disseminated sulphides and breccias from 76.8 to 90.8 metres within siliceous metagreywacke and quartzite rocks, and in two other mineralized intervals between 92.1 and 108.9 metres downhole. Sulphides containing argentite (a silver-bearing, halide mineral) were noted in the core, with accompanying sphalerite, pyrrhotite and pyrite. The estimated true width of the mineralized interval was 7.7 metres (25.26 feet), which averaged 291 grams/tonne (8.49 ounces per ton) silver, including 365 grams/tonne (10.65 oz/ton) silver over 6.08 metres (19.94 feet). Minor values of gold, lead and zinc were also encountered.
Hole B-11-02 was collared approximately 84 metres from Hole B-11-01 and intersected mineralized zones at downhole depths of 23.8 to 64.5 metres, and from 67.7 to 73.7 metres. Mineralization was again observed within siliceous metagreywacke and quartzite rocks with notably higher silver and gold values than were seen in B-11-01, averaging 99 grams/tonne (2.89 oz/ton) silver and 1.03 grams/tonne gold over an estimated true width of 30.53 metres (100.14 feet), which included 285 grams/tonne (8.3 oz/ton) silver and 1.63 grams/tonne (0.05 oz/ton) gold over 8.53 metres (27.98 feet), and 438 grams/tonne (12.78 oz/ton) silver and 2.99 grams/tonne gold (0.09 oz/ton) over 4.6 metres (15.1 feet). Pegmatites were observed cutting through the mineralized zones, from 64.5 to 66.24 metres, for example.
A review of the results and re-examination of the 2011 drill core has prompted Guyana Frontier to complete additional sampling to potentially extend the intervals of mineralized material. The results from this additional sampling will be reported when available. Guyana Frontier is also testing selected core samples from the 2011 drilling program for bulk resistivity/conductivity response to better interpret the results of the 2008 Titan 24 survey geophysical survey. The integration of geophysical and geological information gained in the last three years is expected to generate high-priority drill targets for the 2012 winter exploration season.
Read the full news release here.
