GOLD Port Resources Ltd., a Canada- based Company exploring for gold in the Cuyuni, Region 7 (Cuyuni/Mazaruni) earlier this week, announced an initial mineral resource estimate of 1.59 million ounces of gold at its Groete Creek properties.
The Groete Gold Copper Project is located approximately 60 kilometres south-west of Georgetown and close to Bartica.
The estimate also includes 0.12% copper (Cu) contained in 74.8 million
tonnes of materials.
Adrian F.C. Hobkirk, President and Chief Executive Officer of Gold Port Resources said that the resource estimate was an independent one prepared in accordance with Canadian National Instrument 43-101 – Standards of Disclosure for Mineral Projects
He said that it was prepared with the objective of confirming historical drill results and identifying a gold resource which would be amenable to open-pit mining methods.
He said, “We are very encouraged to reach this important milestone. The attractive location of the project, close to infrastructure and water access, and the fact that gold mineralisation occurs at surface, make the Groete Gold Copper Project a unique opportunity in Guyana. The potential to expand the already significant resource through continued exploration is a top priority of the Company.”
Access to Groete Creek is by a 16 km dirt road from Manaka, directly to the project area.
The project is one of the most easily accessed, large gold copper resources in Guyana, having both deep-water and electrical power / support infrastructure within approximately 30 km.
Hobkirk said that the company intends to move the project forward to a preliminary economic analysis, in stages.
The next stage will involve further core drilling and metallurgical testing.
The intent of the further drilling will be to enhance the known inferred resource to the indicated or measured classification with the intent of the holes being to better define the size of the resource potential of the project.
The company has two drill rigs on site, both having been recently fully re-built and ready for service. All support vehicles and heavy equipment, including two CL-320 excavators and a D-6 bulldozer, are on site, as well as a full camp and core logging and storage facilities ,Hobkirk disclosed.