VANCOUVER, March 30 /PRNewswire/ - Guyana Frontier Mining Corp. ("Guyana Frontier" or the "Company", formerly known as Shoreham Resources Ltd.) (TSXV: GYG) announces the conclusion of a diamond drilling program on the Borland Lake target area at the Favourable Lake Project in Ontario, located approximately 200 kilometres north of Red Lake, Ontario. The Favourable Lake Project is a joint venture with Gold Canyon Resources Inc. ("Gold Canyon") with Guyana Frontier holding a 70.3% interest, and Gold Canyon holding a 29.7% interest.
Two holes totaling 236 metres were completed from the ice of Borland Lake, targeting a mineralized zone that exhibited significant historical intersections of silver, with accompanying minor values of gold, lead and zinc. Core has been split and sampled, and analytical results will be released after their receipt, compilation and interpretation. Deteriorated winter road conditions necessitated early termination of the drilling program.
The 2011 drilling program achieved two objectives: (1) to test the historical silver mineralized zone, last drilled by a previous operator in 1987, and (2) to demobilize the drill and camp equipment at Borland Lake left on site since the conclusion of the 2010 drilling program. The results of the 2011 drilling program will be correlated to the 2008 Titan 24 survey to aid in the interpretation of the geophysical response from the historical zone, and to potentially identify and target any adjacent zones of interest that were unknown to previous explorers.
David Bending, M.Sc., P.Geo., President and CEO of Guyana Frontier, is a qualified person as defined in National Instrument 43-101. He is responsible for and has reviewed all technical information contained in this news release.
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FORWARD LOOKING STATEMENTS
This news release contains forward-looking statements that are based on the Company's current expectations and estimates. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "suggest", "indicate" and other similar words or statements that certain events or conditions "may" or "will" occur, and include, without limitation, statements regarding the anticipated receipt of analytical results from completed exploration activities and the Company's plans with respect to the further exploration and development of its projects. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in such forward-looking statements. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.
SOURCE Guyana Frontier Mining Corp.