Goldstrike Options Precious Metals Prospect Alice Arm North, in Golden Triangle

Rezul News/10493237
VANCOUVER, British Columbia - Rezul -- Goldstrike Options Precious Metals Prospect Alice Arm North, in Golden Triangle

November 19, 2020 – Vancouver, Canada - Guyana Goldstrike Inc. (the "Company" or "Goldstrike") (TSXV: GYA) is pleased to announce that the Company has entered into a definitive option agreement (the "Agreement") to acquire Alice Arm North ("Alice Arm" or the "Property"), a precious metals prospect located in the Golden Triangle, British Columbia from Granby Gold Ltd. ("Granby"), an arms-length private company.

Alice Arm North is located approximately 50 km southeast of Stewart, British Columbia and 9 km south of the Dolly Varden Silver Mine owned by Dolly Varden Silver Corp.  The Property comprises 16 mineral tenures, 100% owned by Granby, covering an area of approximately 842 hectares. Hecla Canada Ltd. currently owns all claims that immediately surround the Property.

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Four mineral occurrences of polymetallic veins are currently known on the property: Eagle (Ag-Pb-Zn+/-Au), La Rose (Ag-Pb-Zn+/-Au), B and C (Zn-Pb), Cape Nome (Ag-Pb-Zn+/-Au). The Bunker Hill occurrence (Ag-Pb-Zn+/-Au) is adjacent to the claim group.  Geophysics has identified a high resistivity axis in a northwest to southeast trend across the northeastern portion of the claim block, between the La Rose and Eagle mineral occurrences. This may reflect a zone of enhanced silicification. *

Under the terms of the Agreement, the Company will be granted the right to acquire up to a one-hundred percent interest in the Property in consideration for completing a series of cash payments totaling $1,000,000 over a five year term, of which $10,000 is due and payable to the Company initially, and incurring expenditures on the Project of at least $1,000,000 over a five year term. Granby will retain a 2.5% NSR on the Property with the Company having a right to make a one time buy-down of 1% of the NSR for $1,000,000. The Company is required to make the cash payments, and incur the expenditures, in accordance with the following schedule in order to maintain the Agreement in good standing and acquire the Property:

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The Company anticipates that the Property will form part of a portfolio of exploration-stage gold projects and does not anticipate that the majority of its working capital or resources will be devoted to the Property in the next twelve months.  No finders' fees or commissions are payable in connection with the Agreement.

For more information please visit www.guyanagoldstrike.com.

On behalf of the Board of Directors of

GUYANA GOLDSTRIKE INC.

Peter Berdusco

President and Chief Executive Officer

https://www.guyanagoldstrike.com/projects/investing-in-guyana

Source: Guyana goldstrike
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