(Gold Port Corporation, 17.Oct.2022) — Gold Port Corporation (CSE: GPO) (OTCQB: GPOTF) provided a technical update on the Groete Gold Copper Project, located in Guyana, South America.
The Groete Gold Copper Project is currently defined by 22 historical drill holes, with both gold and copper mineralization. The known gold portion of the deposit is comprised of a higher-grade gold zone surrounded by a lower grade halo. After review of all historical data, management have determined the future development of the project should focus on the higher-grade gold zone.
The company has received an updated infill drilling plan to develop an Indicated Mineral Resource Estimate at the project. The new plan was developed by P&E Mining Consultants Inc. of Brampton, Ontario, Canada. The 35-hole, 8,102-meter drill program will focus on the higher-grade gold portion of the deposit. The in-situ exploration target potential of the higher-grade zone is estimated to be between 15 to 20 million tonnes with a gold grade between 0.90 and 1.40 grams per tonne gold. P&E also recommends that comprehensive bulk density measurements be taken from drill hole core, by either water immersion or pycnometry. It is also recommended that additional metallurgical test work be completed, with three holes twinned for this purpose. Full details of the new exploration plan are available at the Company website at www.goldportcorporation.com.
Mr. Eugene Puritch, P. Eng., FEC, CET, an independent Qualified Person under NI 43-101, and consultant to the company, participated in the writing of this news release. Mr. Puritch approves of the scientific disclosure contained herein.