VANCOUVER, BC, June 23,
2022 /CNW/ -- Gold Port Corporation,
(CSE: GPO) (OTCQB: GPOTF) (the "Company") is pleased to announce
that the claim group comprising the Groete Gold Copper Project has
been renewed for five ensuing years by the Guyana Geology and Mines
Commission. The three Mining Permits total 1,384 hectares and are
now in effect until July, 2027. During this five year period, the
Company has the option to develop the Project and convert the
Mining Permits into a Mining License. The Project is strategically
located 64 kilometers west-southwest of Georgetown, the capital of Guyana, and 11 kilometers west of the
Essiquibo River, a major transportation route in the country. A
10,000 meter development drill program is being initiated to
further confirm and potentially expand the known N.I. 43-101
compliant gold copper resource.
About Gold Port Corporation
Gold Port Corporation is the 100% owner of three Mining Permits
comprising the Groete Gold Copper Project, located in Essequibo,
Guyana. The Project Deposit
contains a National Instrument 43-101 pit constrained Inferred
Mineral Resource Estimate of 1.57 million gold equivalent ( " AuEq"
) oz ("ounces" ) at 0.66 grams per tonne ( "g/t") AuEq including
0.49 g/t gold ("Au") and 0.12% copper ("Cu") contained in 74.0
million tonnes ("mt"). An open pit cutoff grade of 0.25 g/t AuEq, a
gold price of $ U.S. 1,275 per oz, and a copper price of $ U.S.
3.00 /lb were used for this Mineral Resource Estimate.
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.
Gold Port intends to further evaluate the Groete Gold Copper
Project with the intention of potentially expanding and enhancing
the current resource. A 10,000 meter drill program is planned to
further this objective. A Company owned drill rig is in country and
expected to be on site in the coming weeks.
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
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.
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. We seek safe
harbor.
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SOURCE Gold Port Corporation