June 20, 2022 / Vancouver, British Columbia / Gold Port Corporation (CSE: GPO) (OTCQB: GPOTF) (the “Company”) is pleased to announce that its Company owned Discovery I Core Rig, by Multi-Power Products Ltd of Kelowna, B.C., has now arrived in Georgetown, Guyana. The state-of-the-art track mounted rig system along with support equipment and supplies is now being cleared through customs and scheduled for transportation to the project site.
Site preparation is ongoing, with a new access road being sited and placed. Heavy equipment on site has been refurbished for the ensuing drill program. Other support structures have been purchased and will be sited prior to the program commencement.
A 10,000-meter, 54-hole core drill program is planned to begin. All holes have been located, and access on site is good. The intent of the program is to potentially expand the known inferred resource and to upgrade the resource definition to measured and indicated. This large tonnage gold copper project is very well located close to infrastructure and deep-water access. The Company is very well funded to complete the planned exploration program.
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. Exploration to date has defined an Inferred Mineral Resource of 1.57 million gold copper equivalent ounces within 74 million tonnes a grade of 0.66 grams per tonne gold copper equivalent using a cutoff grade of .025 gold copper ounce per tonne equivalent and a gold price of $US 1,275 per ounce and a copper price of $US 3.00 per pound. 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.
On behalf of the Board of Directors
Adrian F. C. Hobkirk President
CEO and Director
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.