Drill Program Moving Ahead / Corporate Update
Drill Program Moving Ahead / Corporate Update
April 7, 2021 / Vancouver, BC / Gold Port Corporation CSE: GPO (the “ Company”) is
providing a corporate update.
Groete Gold Copper Project Drill Program
Camp expansion at the Company owned Groete Gold Copper Project, located in Guyana, has
been completed and the work site is now prepared for a Phase I Drill Program. All planned
drill holes have been located and confirmed to be accessible. No planned dri ll holes are
within existing mining pits. Management is reviewing several drilling proposals, and
interviewing potential key staff members.
The project was last explored in 2012, which included a drill program that allowed the
calculation of an Inferred M ineral 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 $ U.S. 1,275 and copper
price of $ 3.00 per pound was used in the calculation of the Inferred Mineral Resource.
The objective of the follow up drill program will be to potentially enhance the known
resource from inferred to measured and indicated, and to also expand the deposit size. The
first phase of the program is anticipated to include 2,500 meters totaling 12 holes.
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.
Financial Update and Business Development
Management is pleased to report to the shareholders the current financial position of the
Company. Corporate investments over the past year have returned significant gains
resulting in the Company having a working capital balance of approximately CDN $
6,300,000. The proceeds will be utilized for the further development of the Company’s
asset in Guyana.
To compliment and diversify the business of the Company, management is reviewing
opportunities within the alternative energy space, and intends to make an acquisition in
the near future.
On behalf of the board of directors of Gold Port Corporation
Adrian F. C. Hobkirk
President and Chief Executive Officer
T: 954-684-8040
W: www.goldportcorporation.com
No stock exchange or securities regulatory authority has reviewed or accepted responsibility f or the
adequacy or accuracy of this release.