Canadian company opens bid for construction of roads, bridges for easy access to gold project

Apr 26, 2025 News

Kaieteur News- Canadian mining company Gold Port Corporation has announced the completion of an access survey for its Groete Gold Copper Project in Guyana, marking a major step toward reactivating exploration at the site amid historically high gold prices.

The company revealed Friday, that the access road construction project is now out for tender to local contractors. Once completed, it will facilitate the deployment of a MP Power diamond core drill rig to the site to commence a new drilling campaign. The planned programme aims to both confirm and expand the project’s existing resource, which is already recognised as one of the largest undeveloped gold-copper zones in the country.

Eastern zone target area (Picture taken from Gold Port Corporation website) (Soaring gold price entices)

The project area is strategically located approximately 10 kilometers from the Essequibo River on the west bank. After a detailed site review, Gold Port identified Manaka Landing, deep-water dock facility accessible from Parika, as the optimal route for transporting supplies and equipment.

A road currently runs from Manaka Landing to within 13 kilometers of the project site. The construction initiative will complete this final stretch and include the building of bridges across White Creek and Black Creek, two small streams in the area.

Gold Port said once completed, the access road will allow for efficient transportation of drill cores to Georgetown, improving logistics as the company seeks to unlock further value from its Groete property. Gold Port is also currently expanding its management team to oversee the upcoming drill campaign. The company said it already owns the necessary drill equipment in-country, streamlining project execution.

This latest development follows the company’s renewed interest in the project spurred by skyrocketing gold prices.

Gold Port Corporation is a 100 per cent owner of the Groete Gold Copper Project located in the Essequibo. Last year the company had their mining permits renewed for five years.

The Government of Guyana through the Guyana Geology and Mines Commission (GGMC) granted the mining permits, which cover 1,384 hectares, will now remain in effect until July 2027.

“During this five-year period, the company has the option to develop the project and convert the mining permits into a mining license. The project is strategically located 64 kilometers west-southwest of Georgetown, the capital of Guyana, and 11 kilometers west of the Essequibo River, a major transportation route in the country,” it was explained.

Gold Port had disclosed that it had completed a review of the project in light of soaring gold prices that were seen last year. Gold Port said, “The company has recently completed a project review given the continued strong upward trend in the gold price.”

The project boasts an inferred mineral resource estimate of 1.57 million gold-copper equivalent ounces, contained in 74 million tonnes at a grade of 0.66 grams per tonne gold equivalent, according to a 2019 national instrument 43-101 report.

“The noted resource was calculated based upon US$1,275 per ounce gold, a far lower value than the present gold price of over US$2,470 per ounce,” Gold Port said in a release late last year.

Further, the company quoted information from the world bank highlighting that their project has a strategic location near existing infrastructure, and is in a mining friendly country with Guyana boasting the fastest growing economy in the world.

To facilitate further development, Gold Port said, “the company is interviewing additions to management to facilitate a drill programme to enhance and potentially expand the current known resource. The company has its own drill equipment in Guyana to complete the programme.”

The Groete Project has a long exploration history, dating back to the 1960s when it was first drilled by the United Nations, followed by additional work conducted in the 1990s by Coeur d’Alene Mines Ltd.

“The project has emerged as one of Guyana’s largest gold copper zones, and the only deposit with deep water access,” it was stated. Gold Port noted that the project was last explored in 2012, which included a drill programme that allowed the calculation of an Inferred Mineral Resource of 1.57 million gold equivalent ounces (gold plus copper) at a grade of 0.66 grams per tonne gold equivalent.

The company’s plan is to focus the next round of exploration on the higher-grade gold portion of the deposit.

Discover more from Kaieteur News

Subscribe to get the latest posts sent to your email.

Latest News