This is an old announcement. It may become of interest in the near future.
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Toronto, ON Jan. 25 2008) - Aranka Gold Inc. ARK/TSXV are pleased to announce the discovery of significant gold trends on the Aranka group of properties. The 275,000 acre land package is being jointly explored by the two Companies on a 50/50 basis. The southern boundary of this land package lies approximately 30 km. from the Guyana Goldfield's Aurora Property which has announced a 4.65 million ounce gold resource (1.97 indicated and 2.68 inferred see Guyana Goldfields press release dated October 10, 2007) and which is currently the subject of ongoing drilling for continued resource expansion and delineation.
Aranka Deep Auger Gold Anomaly
An east-west trending 650-metre long gold anomaly was defined by a 1.0 g/t Au contour in the southern portion of the Aranka Properties. The anomaly was delineated through deep auger soil sampling from 163 grid stations averaging 3.8 metres in depth. A 25m x 50 m grid was laid out to guide the sampling. To avoid contamination from historical workings and tailings however, only stations from the relatively undisturbed hills were sampled.
The gold anomaly appears to pinch and splay to the west but is quite wide (up to 200 metres width) and is open to the east.
The soil gold anomaly juxtaposed with northeast trending, moderately northwest-dipping quartz veins and stockworks mapped and sampled from excavator-trenches and local miner's pits. Channel samples across the widths of the exposed quartz structures returned as high as 83.20 g/t Au over 1 metre.
The initial drilling in the area targeted the north-west trending copper mineralization drilled by the Geological Survey of British Guyana. There were indications in the old data that the gold might be related to the copper mineralization. The drilling results indicated that the gold is not consistently associated with the copper. Interpretations from new geological data suggest that the copper mineralization is older and occurring as lenses parallel to the northwest trending foliation in the metavolcanics. Gold on the other hand is associated with northeast trending quartz veins and stockworks cutting across the regional foliation. Quartz stockworks are usually well developed in weakly metamorphosed tuffaceous rocks.
Aranka Trenching Results
In addition, widely spaced trenching and sampling of historical pits to the northeast of the gold anomaly has returned significant gold values. Horizontal Channel samples, of near vertical structures in the trenches has returned 11.9 g/t Au over 2 metres, 1.07 g/t Au over 6 metres, 41.9 g/t Au over 2 metres as well as 2.15 g/t Au over 4 metres. Vertical channel samples, on near horizontal vein structures, in the same area have returned 5.74 g/t Au over 1.8 metres with an exposed strike length of 25 metres, 6.25 g/t Au over 2 metres and 2.68 g/t Au over 2 metres.
The trenches and pits cover an area of approximately 250 metres by 250 metres and lies approximately 170 metres north east of hole RHD-7 (see press release dated November 5, 2007) which assayed 26.4 metres of 1.39 g/t Au from surface.
The Companies plan additional trenching in the area to better define the anomaly followed by an aggressive drill program. In addition, assay results are still pending from approximately 4,000 samples from a major reconnaissance program to the north east of the discovered anomaly.
About Aranka Gold
The Aranka exploration and drilling program is being carried out under the direction of Mr. Norman Baybayan, a qualified person within the meaning of National Instrument 43-101. Mr. Baybayan has reviewed the exploration results contained in this news release. Sample blanks, duplicates and recognized standards were inserted into the sample stream at regular intervals.
Aranka Gold Inc. ARK/TSXV is a junior exploration Company focusing on early stage gold exploration in the Guiana Shield. The company also holds significant silver assets, including the former Langis Silver mine in the Cobalt camp, Ontario, Canada.
Additional information is available at sedar.com.
About Guyana Goldfields Inc.
Guyana Goldfields Inc is a Canadian based mineral exploration Company primarily focused on the exploration and development of gold deposits in the Guiana Shield of South America. The Guiana Shield is in the northern part of the Amazon Craton and covers parts of Guyana, Venezuela, Suriname, French Guyana and northern Brazil.
The Company holds advanced exploration projects in various stages of development and has been operating in Guyana continuously since 1996.
The Company currently has approximately (CDN) $21 million in cash and no debt.
Additional Information is available on Guyana Goldfields' website at guygold.com and on sedar.com. |
