Expands Gold Potential In Suriname
Rhyolite Resources Ltd’s (TSXV:RYE) initial field work exploration programme at the Brothers Project in Suriname has expanded on the gold potential of the concession.
President and CEO, Richard Graham, said prospecting by small-scale miners working within the Brothers concession has opened new sites exposing quartz veins in the soil profile. High-grade rock samples and channel samples continue to expand the extent of the gold bearing structures at Brothers.
Highlights:
- 41 rock grab samples with the highest values of 42.67 and 20.54 grams per tonne (g/t) of gold (Au). In total, 9 samples were 5 g/t or higher (22%) and 19 were greater than 1 g/t (46%). Good reproducibility was noted in duplicate assaying.
- Two-metechannel samples were collected wherever small-scale miners opened small trenches to prospect. Out of 25 samples, four were over 2 g/t and thirteen were over 0.2 g/t (52%) including:
- 15.54 g/t over 2 meters and 7.59 g/t over 2 meters near the Mike and Jordel workings.
“The identification of additional targets returning multiple high-grade samples indicates the significant potential of the Brothers concession that lies only 45 km south of Newmont’s Merian Mine which is producing 500,000 ounces of gold per year,” Mr Graham said.
“Also, we are very pleased to welcome Tony Chedraoui and Michael Leskovec to our Board. The addition of Tony and Michael not only strengthens our financial capabilities but also greatly enhances our corporate governance as we look to grow significantly over the next year. We would also like to thank Demetrius Pohl and Michael Basha for their many years of service on the Board and we wish them well.”
All sampling covered areas of small-scale mining that are within or close to drainages and water.
The mineralised quartz veins are associated with structural and silicified zones within granite country rock. Visible gold and high gold values are associated pyrite, silicification, tourmaline and minor chalcopyrite.
Further scouting and sampling is planned in January. A Lidar survey, ground geophysics, soil (auger) sampling and trenching are planned to select drill targets in the coming months.
