Latest update November 14th, 2024 1:00 AM
Latest News
- “Regardless of a referendum ExxonM has to consent to change oil deal- AG, Anil Nandlall
- ExxonM produced 500 million barrels of oil Since 2019- Company says
- Deadly Israeli strike shatters sense of ‘safety’ in remote north Lebanon
- Govt. signs rental deal for second powership
- Auditors question ICAG’s motive behind suspension of licence and membership
Another Canadian gold firm boasts of promising prospects
The location of the Abuya project (Greenheart Gold Corporation
Kaieteur News- Newly-formed Canadian mining company, Greenheart Gold Corporation reported on Monday that initial geochemical sampling at the Abuya Project in northeastern Guyana has identified several promising anomalous zones for further activities.
Anomalous zones are areas where samples have been taken and indicate the potential for gold deposits.
Greenheart Gold was formed as a spin-off from the merger between Canadian firms-G Mining Ventures Corporation (GMIN) and Reunion Gold Corporation. Earlier this year, Reunion announced that GMIN will be acquiring the company for some US$638 million, and will become the new owner of Reunion’s flagship Oko West project located in Region Seven (Cuyuni-Mazaruni).
According to the statement, in relation to the Abuya project, the first phase of sampling covered a 100-square-kilometer area, with samples taken at 100-meter intervals on lines spaced 1 kilometer apart. This reconnaissance phase aimed to quickly narrow down potential gold-bearing zones across the large project area. Notable findings include anomalous gold values of up to 0.55 grams per ton (g/t) of gold, which align with significant geological features, such as granitic and volcanic contacts and regional fold axis orientations.
Follow-up exploration in early 2025 will include more detailed infill sampling at 500-meter by 50-meter spacing, along with geological mapping and potential geophysical surveys to further evaluate these promising zones.
According to Greenheart Gold, the Abuya project sits just 15 kilometers west of Zijin’s Aurora Gold Mine (AGM) and covers 90 square kilometers of highly prospective land, held under 20 medium-scale mining permits.
Notably, Greenheart Gold said its goal is to build a robust portfolio of the early-stage exploration projects that target the key geological factors believed to have been crucial to the discovery of Oko West. The Oko West Mine is set to be a large-scale gold project and is expected to produce 353,000 ounces of gold annually over its 12.7-year mine life, with a total output of 4.5 million ounces. Production is expected to start in 2025.
Moreover, the company noted, “Greenheart Gold is primarily focused on gold prospects in Suriname and Guyana, offering a favorable combination of promising geology and supportive governments. The company is actively pursuing discussions to expand its pipeline of exploration projects.”
(Another Canadian gold firm boasts of promising prospects)
Similar Articles
THE BLUNT OF THE DAY
Sports
Features/Columnists
Poor Power Planning (PPP)
…Peeping Tom Kaieteur News- Planning has long been the PPP/C government’s pride and joy. The PPP/C touts it at rallies,... more
Rising Gun Crimes in the Caribbean: Urgent Action required by all
By Sir Ronald Sanders Kaieteur News – There is an alarming surge in gun-related violence, particularly among younger... more
Weekend Cartoon
