Vancouver, British Columbia--(Newsfile Corp. - September 25, 2019) - Corsurex Resource Corp. (CSE: CRC) is one of the latest new listings on the Canadian Securities Exchange. The company, previously a subsidiary of NRG Metals, was spun out in January 2017.
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Corsurex acquired the Groete Creek Property in September 2005 for total payments of US$500,000 over 3 years and now holds a 100% interest in the property subject to a 1.5% NSR. The Groete Property is located in Guyana, South America, 64 kilometers west-southwest of Georgetown. The property, which consists of three Mining Permits totalling 3,421 acres, is one of the most easily accessed gold copper Mineral Resources in Guyana, having deep water and electrical power support infrastructure within approximately 25 kilometers.
The first systematic exploration of the general Groete region was undertaken in 1964 when the Geological Survey of Guyana completed an area-wide geochemical and geophysical survey, which identified a broad copper in soil anomaly and coincident EM anomaly. A 2010 sampling program confirmed that gold mineralization occurs over the entire west to east strike length of the property.
The project has an extensive exploration history and a defined NI 43-101 gold-copper inferred resource dated January 2019 which is filed on Sedar. The Groete Deposit contains a pit constrained Inferred Mineral Resource Estimate of 1.57 million gold equivalent ounces at 0.66 grams per tonne gold equivalent including 0.49 grams per tonne gold and 0.12% copper contained in 74.0 million tonnes.
The Mineral Resource Estimate demonstrates that the Groete Deposit has the potential for open pit mining and that the potential can be further enhanced by resource expansion. The report recommends further infill drilling and analytical testing, with the infill drilling to include approximately 500 meters of step out drilling in 50 drill holes with the intention of expanding the known Mineral Resource. The company intends to move the project forward to a Preliminary Economic Assessment.
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Barry Morgan, CFO
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