Guyana Goldfields drills targets at Peters mine property

Drilling by Guyana Goldfields (GGFI-C) is testing the Peters mine gold property, a past producer in Guyana.

The initial holes are testing the main shaft area, where previous operators extracted 39,000 oz. gold from 54,000 tons of ore milled in the early 1900s.

Drilling is also planned for the Herold’s Hill and Red Hill areas.

Recent sampling at Herold’s Hill returned values as high as 76.4 grams gold per tonne. Of the eight samples taken from this target, three returned values below 1 gram, while the others returned 18.77 grams, 12.93 grams, 2.53 grams and 12.97 grams.

Herold’s Hill, situated 3,000 ft. south of the main shaft and open-pit area, has never been drilled, though there are at least two known shafts in the area. The junior notes that its sampling results from Herold’s Hill are similar to those obtained by Homestake Mining when it explored the property in the late 1980s.

Earlier this fall, Guyana Goldfields reported results from samples taken near the main shaft and open-pit area. These results include: 9.03 grams, 8.43 grams, 11.87 grams, 5.96 grams, 4.83 grams and 310.03 grams.

The Peters mine property was previously drilled by the United Nations in the early 1960s. This work outlined an inferred resource of 226,000 tons grading 0.95 oz. gold to a depth of 800 ft. Local miners have worked in various parts of the property over the years.