VANCOUVER, BC, Aug. 26, 2021 /CNW/ -- Gold Port
Corporation (the "Company") (CSE: GPO) (OTCQB:
GPOTF) is providing a corporate update.
The Discovery 1 Core Rig ordered from Multi-Power Products Inc.,
of Kelowna, British Columbia, is
nearing completion. The unit is expected to be ready for
shipment by the end of the month. The custom ordered rig is
track mounted to facilitate drilling at the Groete Gold Copper
Project, Guyana. The entire
package, including drill rods and bits, will provide a turnkey
drill operation to the Company. Management have been
assembling an exploration and drilling team sourcing experienced
local Guyanese service contractors.
The Company advises that the three Mining Permits comprising the
Groete Gold Copper Project have been accepted for renewal by the
Guyana Geology and Mines Commission for the ensuing year. The
site has been prepared for a 10,000-meter drill program with the
intention of upgrading and expanding the known gold copper
resource.
The project was last explored in 2012, which included a drill
program that allowed the calculation of an Inferred Mineral
Resource of 1.57 million gold copper equivalent ounces within 74
million tonnes, at a grade of 0.66 grams per tonne gold copper
equivalent. A cutoff grade of 0.25 gold copper ounce per
tonne equivalent, a gold price of $ US 1,275 per ounce and copper
price of $ 3.00 per pound was used in
the calculation of the Inferred Mineral Resource. Details of
the resource are contained in a National Instrument 43-101 report
titled Technical Report and Updated Mineral Resource Estimate on
the Groete Gold Copper Deposit, Groete Property, Guyana, South
America by P & E Mining Consultants Ltd., dated
April 16, 2019, available on SEDAR
and the Company website at www.goldportcorporation.com.
Mr. William Feyerabend, a
Consulting Geologist and Qualified Person under National Instrument
43-101, participated in the writing of, and has reviewed and
approves of the technical disclosure contained in this press
release.
On behalf of the Board of Directors
Adrian F. C. Hobkirk
President, CEO and Director
T: 954-684-8040
E: info@goldportcorporation.com
W: www.goldportcorporation.com
No stock exchange or securities regulatory authority has
reviewed or accepted responsibility for the adequacy or accuracy of
this release.
This news release contains certain "forward-looking statements"
within the meaning of Section 21E of the United States Securities
and Exchange Act of 1934, as amended. Except for statements of
historical fact relating to the Company, certain information
contained herein constitutes forward-looking statements.
Forward-looking statements are based upon opinions and estimates of
management at the date the statements are made and are subject to a
variety of risks and uncertainties and other factors which could
cause actual results to differ materially from those projected in
the forward-looking statements. The reader is cautioned not to
place undue reliance on forward- looking statements.
On behalf of the Board of Directors
Adrian F. C. Hobkirk
President, CEO and Director
T: 954-684-8040
E: info@goldportcorporation.com
W: www.goldportcorporation.com
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content:https://www.prnewswire.com/news-releases/drill-update-and-mining-permits-renewed-301363552.html
SOURCE Gold Port Corporation