Rory’s Knoll keeps improving (September 10, 2004)

Guyana Goldfields (GUY-T) continues to intersect significant gold over wide intervals and at shallow depth on its Aurora property, 175 km west of Georgetown, Guyana.

Highlighting the drilling at Rory’s Knoll is a 171-metre intersection that graded 2.87 grams gold per tonne from surface. This was drilled 50 metres east of a hole that intersected 205.5 metres grading 1.26 grams gold. Included in this intersection was a 50-metre intercept that graded 2.56 grams gold per tonne from surface.

Rory’s Knoll is one of eight mineralized areas within a 1.6-km-by-1.6-km area in the northern part of the property.

Recent drilling at Walcott’s hill is highlighted by a 70-metre intersection grading 2.58 grams gold from a downhole depth of 20 metres. Another hole, 100 metres north of this, failed to intersect significant gold over wide intercepts, although a wide altered and sulphidized zone was hit.

Walcott Hill is a quartz stockwork zone about 250 metres west of Rory’s Knoll. It was the site of advanced exploration in the 1940s. Development included a tunnel, two adits almost 200 metres apart, eight crosscuts and five drifts.

Exploration is expanding to cover more of the 65-sq.-km property; only about one third of the property has been explored to date. An airborne geophysical survey is being flown at 50-metre line spacing over the entire property and ground follow-up will be carried out.

As at presstime the company had 26.7 million shares issued (32.5 fully diluted) and about $8 million in cash and no debt.