For thousands of other reports visit RSC's Mineral Intellingence Map
Guyana Goldfields Inc.
Summary
| Project: | Aurora | |
|---|---|---|
| Deposit: | Aleck Hill, Madd Kiss | |
| Location: | Guyana | |
| Commodities: | Gold | |
| Date: | 2/11/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Active Mining & Production | |
| Report details: | 11-2-2019: Guyana Goldfields Inc. announces an Exploration/Drilling Update report for its Aleck Hill, Madd Kiss deposit at the Aurora project. Drilling results incl. 15.9m @ 40.8g/t Au from 76.1m. TORONTO, Feb. 11, 2019 /CNW/ - Guyana Goldfields Inc. (TSX | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Ron Stewart (Internal) | |
| ABSTRACT: | TORONTO, Feb. 11, 2019 /CNW/ - Guyana Goldfields Inc. (TSX:GUY) (the "Company") today announced the results from its fourth quarter 2018 brownfield surface exploration drilling campaign at the Aurora Gold Mine ("Aurora"), located in Guyana, South America. The Company also described revisions to the geological interpretation of the gold mineralization at Aurora compared with that which was used for the 2012 resource model, developed under prior management and which appears to have overestimated the average grade at Aurora. Further, the Company announced the approval of an approximately US$6.75 million exploration plan for 2019 covering additional surface brownfield drilling, initial underground drilling and the resumption of greenfield exploration for a combined total of approximately 30,000 metres. This is the largest exploration campaign that the Company has undertaken since 2011 both in terms of allocated capital and proposed drill metres. "The results of the fourth quarter 2018 program, which focused drilling toward near-mine brownfield targets following a change of exploration management last year, continues to demonstrate the potential for high-grade ore shoots beneath the satellite pits at Aurora," said Scott Caldwell, President and CEO. "Our work with Roscoe Postle Associates Inc. ("RPA") on the resource model review is continuing on schedule. We believe certain assumptions applied in the previous model used to derive open pit reserve estimates and production forecasts, including grade capping, geologic domaining and interpolation parameters appear to have contributed to the recent lower than planned gold grade at Aurora. RPA has run a number of preliminary models to determine the impact of the variables and is testing these models against historical production results. We continue to anticipate the results of this work to be completed by the end of March." | |
Full Report
opaxe is a smart software platform that reconfigures and redistributes information and produces business insights to help mining professionals and investors make better decisions. We utilise technology and machine learning for data collection and human intelligence for the value-added services.
Full Report