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Guyana Goldfields Inc.
Summary
| Project: | Aurora | |
|---|---|---|
| Deposit: | Aurora | |
| Location: | Guyana | |
| Commodities: | Gold | |
| Date: | 3/27/2020 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Active Mining & Production | |
| Report details: | 27-3-2020: Guyana Goldfields Inc. announces a Resource Estimation report for its Aurora deposit at the Aurora project. Updated resource and reserve estimate at the project + updated NPV and LOM Plan. TORONTO, March 27, 2020 /CNW/ - Guyana Goldfields Inc. | |
| Resources: | (Reserves, P+P): 25.8Mt @ 2.7g/t Au (2,240koz Au) | |
| CP/QP: | [Resources]: David Ross, Katherine Masun (Roscoe Postle Associates Inc.) | |
| ABSTRACT: | TORONTO, March 27, 2020 /CNW/ - Guyana Goldfields Inc. (TSX:GUY) (the "Company") today announced the results of an updated Mineral Resources and Mineral Reserves estimate (the "R&R Update") and an updated life of mine plan (the "LOM Plan") on its 100% owned Aurora Gold Mine (the "Mine") located in Guyana, South America. Summary of R&R Update and LOM Plan (all references to currency are stated in US$ unless otherwise specified): Estimated total gold contained in Proven and Probable Mineral Reserves of 2.24 million ounces ("Moz") and estimated total gold contained in Measured and Indicated Mineral Resources (inclusive of Mineral Reserves) of 3.82 Moz, representing a 2% reduction in contained gold in year-over-year total Mineral Reserves. Mineral Reserves were estimated using a gold price of $1,200/oz, and Mineral Resources using a gold price of $1,500/oz, consistent with the prior year's gold price assumptions. LOM Plan estimates of recovered gold production total 2.07 Moz at an average estimated head grade of 2.7 grams per tonne (g/t Au) over a 14-year mine life and includes a transition of the Mine from open pit to underground operations by mid-2021. | |
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