TORONTO, Oct. 31, 2012 /CNW/ - Guyana Precious Metals Inc. (TSX-V:GPM) (the
"Company" or "GPM")
Mr. John Patrick Sheridan reports details of the commencement of the Peters
Mine Property exploration program. Company geologists and technicians are
currently on site and the exploration program is underway.
The program is based on re-interpretation of data from the previous operator
at the Mango Trend. Defined targets are being investigated with a sequence of
6 mechanized trenches of various lengths between 70m and 120m, and soil / rock
sampling of the trenches.
The trenching and sampling is being carried out concurrently with surface
In anticipation of the exploration ramp up, a field camp has been established
at the Peters Mine Main Shaft Area to facilitate ease of access to priority
The Peters Mine Property consists of 8,358 acres of highly prospective ground.
It is located approximately 80km west of the town of Bartica, and
approximately 140km southwest of Georgetown; the capital and largest city of
Guyana. The site is accessible by an all-weather road from the town of Bartica.
Based on archival records, the Peters Mine produced 40,000 ounces of gold
between 1905 and 1909 with head grades in excess of one ounce. Historical
production has not been verified and should not be relied upon. The Main Shaft
Area, the site of the former operation, is part of a regional structural trend
(The Mango Trend ) which is more than 8km in length.
About Guyana Precious Metals
Guyana Precious Metals is led by an experienced management team with project
generation and development experience in Guyana. The Company is presently
expanding the exploration and development of its Aremu and Peters Mine
Properties; two of the four significant past producing mines in Guyana. The
Company maintains an interest in acquiring additional key exploration and
development properties in the country of Guyana.
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 RELEASE
Forward Looking Statements - Certain information set forth in this news
release may contain forward looking statements that involve substantial known
and unknown risks and uncertainties. These forward looking statements are
subject to numerous risks and uncertainties, certain of which are beyond the
control of Guyana Precious Metals Inc. including, but not limited to the
impact of general economic conditions, industry conditions, volatility of
commodity prices, risks associated with the uncertainty of resource and
reserve estimates, currency fluctuations, dependence upon regulatory
approvals, the availability of future financing and exploration risk. Readers
are cautioned that the assumptions used in preparation of such information,
although considered reasonable at the time of preparation, may prove to be
imprecise and, as such, undue reliance should not be placed on forward looking
Guyana Precious Metals Inc. 1205-141 Adelaide Street West, Toronto, ON.
M5H-3L5 Tel: 416.864.6332 Fax: 416.628.6835 E-mail:email@example.com
SOURCE: Guyana Precious Metals Inc.
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CO: Guyana Precious Metals Inc.
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-0- Oct/31/2012 18:11 GMT
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