Greenheart Gold Announces the Commencement of Drilling on Two of Its Projects and Provides an Update on Exploration Progress in Suriname and Guyana Diamond drilling has commenced at the Majorodam project in Suriname, and at the
Greenheart Gold Announces the
Commencement of Drilling on Two of Its
Projects and Provides an Update on
Exploration Progress in Suriname and Guyana
Diamond drilling has commenced at the Majorodam project in Suriname, and at the
Tamakay project in Guyana. At Majorodam, recent channel sampling along a roadcut that
lies between two drill target areas exposed a mineralized quartz vein grading 18 m @ 6.39
g/t Au.
Further soil grid geochemical results from the Igab project in Suriname have added to the
definition of multiple targets in the northern half of the land package. A drone magnetics
survey is underway, and drilling is expected to commence in the fourth quarter.
Appointment of Timothy (Tim) Stubley as Senior Manager, Exploration. Tim will oversee
the Company's activities across the Guiana Shield and brings over 15 years of mineral
exploration experience to the team.
Longueuil, Québec--(Newsfile Corp. - September 2, 2025) - Greenheart Gold Inc. (TSXV: GHRT)
(OTCQX: GHRTF) (the "Company" or "Greenheart Gold") is pleased to announce that it currently has drill
programs underway at both its Majorodam (Suriname) and Tamakay (Guyana) projects. In addition, the
Company wishes to provide a general update on exploration progress on the portfolio of projects held in
both Suriname and Guyana. This includes noteworthy trench results from Majorodam, and the addition of
experienced senior management through the appointment of Tim Stubley as Senior Manager,
Exploration.
Majorodam Project (Suriname)
The Company has commenced drilling at the Heuvel Prospect on the Majorodam project, collaring the
first ever diamond drill hole on the project, on August 15, 2025. Drilling continues to progress well, with
three holes totalling 610 meters (m) completed to date. This Phase 2 drill program of 2,500 m aims to
follow up and expand on the reverse circulation (RC) drill results announced previously on May 7, 2025.
In addition to the commencement of drilling, and as shown in Figure 1, the Company has continued with
the construction of new roads that provide access to possible drill sites and create geological exposure
for mapping and sampling. One roadcut that sits approximately mid-way between two previously drilled
RC target areas at Heuvel, returned with a significant interval of 18.0 m @ 6.39 grams per tonne of gold
(g/t Au), which includes a high-grade quartz vein (sub-vertical, striking NNE) which assayed 4.0 m @
24.07 g/t Au. This is a noteworthy result as the roadcut provides the only exposure bisecting an 800 m
trend between the previously announced results within RC holes MAJR25-003 (6.0 m @ 9.34 g/t Au) and
MAJR25-010 (30.0 m @ 2.06 g/t Au). As Figure 1 shows, the two RC holes and this new trench appear
to be coincident with local magnetic lineations.
The Company has also recently completed a high-resolution low-altitude 50 m line spacing drone
magnetics survey over the Heuvel drill targets. This survey has added significant detail to the fixed wing
magnetics survey (high-altitude, 150 m line spacing) previously flown by the titleholder. This survey is
currently being processed and incorporated into a geological framework supported by drill and trench
logging and results.
Outside of the Heuvel prospect, the Company continues to follow up with trench and channel sampling on
the Helling prospect, which represents the 5-km long soil anomaly on the eastern half of the project. Infill
soils, mapping and sampling are also underway on Heuvel North prospect where the gold-in-soil
anomaly continues onto the Majorodam North project (Figure 1).
Tamakay Project (Guyana)
An initial 1,200 m Phase 1 diamond drill program commenced at Tamakay in mid-August 2025. This
program is designed to follow up several known gold bearing quartz vein occurrences at Tamakay that
were uncovered by previous artisanal mining activities and confirmed by the Company's exploration
programs to date (Figure 2). Drilling is designed to test the down dip continuity of gold bearing quartz
veins that have been previously mined, as well as test for possible stacked veins, zones of mineralization
within the granitic wall rock, and test a shear zone that underlies numerous historical small scale mining
pits where no outcrop is available for sampling. This shear zone target is also identified by a
combination of ground magnetic and induced polarization geophysical surveys.
Igab Project (Suriname)
Early results from the Igab project had produced numerous gold-in-soil anomalies from ridge and spur
sampling at the +100 ppb Au threshold (a threshold that the Company sees as significant based on prior
Guiana Shield exploration experience). Grid soil sampling at a 400 m line spacing, with infill to 200 m,
has continued on the project, and further refined these early results into five distinct prospects as shown
on Figure 3: Lemon Tree, Samansu, Morko, Koela and Cannibal Creek.
At Lemon Tree, where a channel sample (previously reported on February 10, 2025) of a sheared and
altered granite outcrop returned 31.0 m @ 1.36 g/t Au, the Company continues its trenching, mapping
and sampling programs to better define the structure and orientation of this target prior to planned drill
testing. More recently, the Company has uncovered a further 50 m of this altered outcrop to the northeast
and is currently awaiting results from additional channel samples. The Company anticipates that it will
begin drilling this target, as well as an area of known gold bearing quartz veins that lie approximately 500
m north of Lemon Tree, in the fourth quarter of 2025.
At the Mokro, Cannibal Creek and Koela targets in the northern half of the property, infill soil sampling
programs are underway and the recent addition of an excavator and bulldozer to the project is allowing
for more direct access as well as exposing outcrop for sampling and mapping. The Company has now
commenced a drone magnetics survey which is expected to complete within the coming month. This will
significantly assist in the geological and structural interpretation across the project.
Igab Option Agreement
The definitive option agreement for the Igab project (the "IGAB Option Agreement") was signed on
September 1, 2025, between the Company and IGAB N.V. ("IGAB"), the titleholder of the project's
mineral right, under terms agreed under the September 2024 Heads of Agreement. General terms of
this four-year option agreement include making option payments totaling US$3,400,000, with the initial
option payment of US$400,000 payable no later than the 1
st
anniversary of the IGAB Option Agreement,
US$1,000,000 payable no later than the 2
nd
anniversary of the IGAB Option Agreement and
US$2,000,000 payable no later than the 3
rd
anniversary of the IGAB Option Agreement, as well as other
contingent considerations based on future gold reserves and production. The IGAB Option Agreement
can be terminated by the Company upon providing a 30-day prior written notice to IGAB without further
financial obligations.
Greenheart Gold Strengthens its Exploration Team
Greenheart Gold is pleased to announce the appointment of Tim Stubley as Senior Manager,
Exploration. Tim brings over 15 years of experience in mineral exploration across a range of deposit
types and locations, with a particular focus on orogenic gold deposits. Prior to joining Greenheart Gold,
Tim served as Principal Geologist and Project Manager for the Kerr-Addison project in Ontario, where
he was responsible for the planning and execution of a 150 km resource drill program.
Greenheart Gold CEO, Justin van der Toorn, commented, "We are very pleased to welcome Tim to
Greenheart Gold where he will be overseeing the Company's operations across our exploration projects
in Suriname and Guyana. As we see continued positive results across the portfolio, we feel that Tim's
experience is an ideal addition to our existing team as we continue to fulfil our commitment to both a
systematic and a technically driven exploration approach."
Sample Collection, Assaying and Data Management
Significant intervals in this press release have been calculated using a grade cut-off of 0.3 g/t Au, a
minimum length of 5 m, and a maximum length of 5 m of consecutive internal waste. Included significant
intervals have been calculated using a grade cut-off of 1.0 g/t Au, a minimum length of 3 m, and a
maximum length of 2 m of consecutive internal waste. Gold grades are uncapped. Mineralized
intersection lengths are not necessarily true widths. RC drill samples are weighed in their entirety at the
rig side to ensure consistent sample collection, then split, bagged, and tagged. All samples are shipped
to the Actlabs preparation laboratory in Paramaribo, Suriname while respecting best-practice chain of
custody procedures. At the preparation laboratory, samples are dried, crushed to 80% passing 2 mm,
riffle split (to 250 g), and pulverized to 95% passing 105 μm. Coarse blanks are inserted by the
Company, and are used between and following suspected high-grade intervals. Barren sand flushes are
inserted by the analytical laboratory after each sample is pulverized to clean the bowl. Pulverized
samples are transported for analysis to the Actlabs laboratory in Georgetown, Guyana (an ISO 9001
certified laboratory) where gold assay is carried out using a 30 g or 50 g fire assay with an atomic
absorption finish. Initial assays with results above 3.0 g/t Au are re-assayed with a gravimetric finish.
Certified reference materials and blanks are inserted at a rate of 5% of samples shipped to the
laboratories. RC field duplicates pulp duplicates are also generated at a rate of 5% of samples. Assay
data is subject to QA/QC prior to accepting into the Company database managed by an independent
consultant.
Qualified Person
All scientific and technical information in this press release has been reviewed and approved by Justin
van der Toorn, CGeol FGS, EurGeol, President and CEO of Greenheart Gold, and a Qualified Person
under Canadian
National Instrument 43-101 – Standards of Disclosure for Mineral Project
s.
About Greenheart Gold Inc.
Greenheart Gold is an exploration company that builds on a proven legacy of discoveries within the
Guiana Shield, a highly prospective geological terrain that hosts numerous gold deposits yet remains
relatively under-explored. The Company is led by former executives and members of the exploration
group of Reunion Gold, a team that was most recently noted for the discovery and delineation of the
multimillion-ounce Oko West deposit in Guyana. Greenheart Gold intends to build on its technical
knowledge, strong contact base and previous success from exploring in the Guiana Shield to assemble,
maintain and explore a portfolio of early-stage exploration projects in Guyana and Suriname that are
prospective for orogenic gold deposits.
Additional information about the Company is available on SEDAR+ (
www.sedarplus.ca
) and the
Company's website (
www.greenheartgold.com
).
For further information, please contact:
GREENHEART GOLD INC.
Justin van der Toorn, President and CEO, or
Doug Flegg CFA, Senior Vice President Corporate Development
E:
E:
Telephone: +1 450-800-2882
Cautionary Statement on Forward-Looking Information
All statements, other than statements of historical fact, contained in this press release constitute
"forward-looking information" and "forward-looking statements" within the meaning of certain securities
laws and are based on expectations and projections as of the date of this press release. Forward-
looking statements contained in this press release include, without limitation, those related to the
Company's plans and objectives, the timing of and execution of planned exploration activities,
geological interpretation, potential favorable setting and mineralization, other statements relating to
the business prospects of Greenheart Gold and, more generally, the section entitled "About
Greenheart Gold Inc."
Forward-looking statements are based on beliefs, expectations, estimates and projections as of the
time of this press release. Forward-looking statements are necessarily based upon a number of
estimates and assumptions that, while considered reasonable by the Company as of the time of such
statements, are inherently subject to significant business, economic and competitive uncertainties
and contingencies. These estimates and assumptions may prove to be incorrect. Such assumptions
include, without limitation, those underlying the statements in the section entitled "About Greenheart
Gold Inc."
Many of these uncertainties and contingencies can directly or indirectly affect, and could cause,
actual results to differ materially from those expressed or implied in any forward-looking statements.
By their very nature, forward-looking statements involve inherent risks and uncertainties, both general
and specific in nature, including among others, those risks and uncertainties set forth in the
Company's audited consolidated financial statements and related notes for the initial period from
April 19, 2024 to December 31, 2024 and the associated management's discussion & analysis, and
other documents and reports filed by the Company with Canadian securities regulators available
under the Company's profile on SEDAR+ at
www.sedarplus.ca
, and the risk that estimates, forecasts,
projections and other forward-looking statements will not be achieved or that assumptions do not
reflect future outcomes. Forward-looking statements are provided for the purpose of providing
information about management's expectations and plans relating to the future. Readers are cautioned
not to place undue reliance on these forward-looking statements as a number of important risk factors
and future events could cause the actual outcomes to differ materially from the beliefs, plans,
objectives, expectations, anticipations, estimates, assumptions and intentions expressed in such
forward-looking statements. The Company cautions that the list of factors set forth in the Company's
filings that may affect future results is not exhaustive, and new, unforeseeable risks may arise from
time to time. The Company disclaims any intention or obligation to update or revise any forward-
looking statements or to explain any material difference between subsequent actual events and such
forward-looking statements, except to the extent required by applicable law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined
in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this press release.
Figure 1 - Overview of RC drill and trench traces, with results received, on the Heuvel Prospect, with
drone magnetics as background. Inset map shows soil results received to date and the location of the
property in relation to the Saramacca mine, 12 km north of Heuvel. Diamond drill holes are labeled as
D-###, RC drill holes as R-###, and Trench/Channels as T-###. Significant intervals shown have
been calculated using a grade cut-off of 0.3 g/t Au, a minimum length of 5 m, and a maximum length
of 5 m of consecutive internal waste. Included significant intervals have been calculated using a grade
cut-off of 1.0 g/t Au, a minimum length of 3 m, and a maximum length of 2 m of consecutive internal
waste.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/11642/264886_29570cc7e434fa46_002full.jpg
Figure 2 - Location of planned drill holes at the Tamakay project, overlain on geology showing the
extent of alluvial and small-scale mining activities. Current drilling is labeled as TAMD25-001 & 002.
Small pits (transparent red) are labeled with the names ascribed to them by the local pork-knockers.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/11642/264886_29570cc7e434fa46_003full.jpg
Figure 3 - Geological map of the Igab project, showing named prospects based on results received to
date from grid soil sampling.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/11642/264886_29570cc7e434fa46_004full.jpg
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/264886