VANCOUVER, BC , June 24, 2020 /CNW/ – Tajiri Resources Corp. (TAJ.V) (“Tajiri” or the “Corporation”) announces that it has entered into a non-binding Letter of Intent to acquire two prospective gold projects in Guyana , South America – the Gargantuan Project, located in the Mahdia region, and the Epeius Project located in close proximity to the one million tonne per annum Karouni Mine of Troy Resources Limited (TRY.AX).
The Gargantuan Project covers a 4 to 6.5 kilometres strike of the source area (“the Gargantuan Source”) that has given rise to the largest coherent concentration of artisanal gold workings in the Guiana Shield.
The Gargantuan Source has a total interpreted strike of 9-12km, and the Project area of 2,390 hectares, encompasses 40-50% of this interpreted strike length.
Within the Guiana Shield, the artisanal workings associated with the Gargantuan Project are an order of magnitude larger than workings related to most other known > 1 Moz gold deposits and are only equalled in area by those of the Giant1 ~45 Moz2 Las Cristinas+Brisas gold deposit.
The Gargantuan Source is well defined by the upstream/uphill limits of alluvial, colluvial and lateritic gold workings and appears contiguous over 9 kilometres strike with every creek flowing from it or over it and almost every slope downhill from it having been worked at some point since the 1880s.
Along strike from the Project’s boundaries, recent work by Goldsource Mines Inc. (GSX.V) has identified a north-south striking chargeability and resistivity anomaly co-incident with the Gargantuan Source.
Furthermore, early stage diamond drilling of the Gargantuan Source, by Goldsource has returned numerous, mostly shallow, high tenor gold intersections over a strike length of approximately 2 kilometres with results including 69m @ 6.5g/t from surface, 80m @ 2.0g/t from surface, 57m @ 2.6g/t from surface, 50m @ 2.9g/t from surface, 10.5m @ 9.9g/t from 81m , 4m @ 25.2g/t from 258m .
The Gargantuan Source hosts several artisanal workings that have exploited weathered in-situ primary mineralisation which provide immediate targets for early drill campaigns.
Given the above facts: that the Gargantuan Source is defined over a strike length of 9 kilometres, that it has given rise to artisanal gold workings equal in area to those arising from a 45 Moz gold deposit located in the same weathering and geological environment, that a 2 kilometre strike length portion of the Gargantuan Source has returned good gold intersections, and that the Project covers 40-50% of the interpreted extent of Gargantuan Source; Tajiri believes that acquisition of the Gargantuan Project would provide the Company with an excellent exploration opportunity.
Epeius Gold Project is located 6 kilometres north of the Karouni Gold Mine operated by ASX listed Troy Resources Limited (TRY.AX) and 600m from Troy’s new Ohio Creek discovery. The Epeius Project is also contiguous with Tajiri’s wholly owned Kaburi Property where drilling in 2013 returned 23m @ 2.7g/t and 8m @ 6.5g/t.
The Epeius Project covers a ~ 17 kilometre strike of the greenstone belt (referred to as the “Tallman Corridor” by Troy) which hosts Troy’s recently discovered Ohio Creek Deposit with a maiden inferred resource estimate of 2.2 Mt @ 1.9g/t and where trial mining is about to commence.
The Tallman Corridor is associated with extensive alluvial artisanal workings and anomalous stream sediment geochemistry along the entire 17 kilometres of strike encompassed by the Epeius Project.
The Epeius Project also contains several targets for immediate drilling which consist of immediate on-strike extensions from: primary artisanal workings, soil geochemical anomalies and several shallow economic drill intercepts generated by Troy at the boundary of the Project including:
- Ten metres along strike from 3m @ 11.2g/t from 91m and 6m @ 4.1g/t from 25m at Ohio Creek South (Figure 8)
- Forty metres along strike from 16m @ 1.1 g/t from 31m at Goldstar (Figure 9)
- 660m from 11m @ 5.1g/t from 73m at Ohio Creek (Figure 8)
- 200m from one of the largest artisanal pits developed on primary mineralisation in the district. (Figure 10)
Additional Project Information
The Gargantuan Project is comprised of 34 mining claim licences and 13 mining permits which total 5,900 acres (2,390 hectares):
Additional arms-length payments that remain to be made to third party vendors of the Gargantuan Project total USD 380,0000 and are as follows:
- A payment upon transfer of US$ 200,000 for 12 mining claims (expected within the next 4 months)
- A payment of US$ 30,000 upon transfer for 2 mining permits (expected within 3-4 months)
- A payment of US$ 55,000 upon transfer of 2 mining permits (expected within 3-4 months)
- A payment of US$ 95,000 upon the transfer of 10 mining claims (expected within the next 9 months)
Apart from the payment of statutory transfer fees for these properties of approximately US$ 1,000 per licence/ permit there are no other encumbrances, liens or outstanding interests over the properties that comprise the Gargantuan Project.
The Epeius project comprises 13 granted mining permits totaling 13,344 acres (5,400 Ha) and 8 applications for prospecting permits totaling 9,637 acres (3,900 Ha).
