Partners define reserves at Yaou gold project

The four partners developing the Yaou gold project in French Guiana have calculated a probable reserve figure of 10.3 million tonnes grading 2.7 grams gold per tonne.

The joint venture consists of Guyanor Ressources (GRL.B-T), which is the property holder, Golden Star Resources (GSC-T), Cambior (CBJ-T) and Cambiex Exploration (CBX-T).

Cambior is earning a half interest by funding exploration. Under a separate agreement, Cambiex can earn 30% of Cambior’s interest. Golden Star holds about 70% of Guyanor, which operates only in the French overseas department of French Guiana.

The probable reserve, which is amenable to open-pit mining, is part of a larger mineralized inventory of 13 million tonnes grading 2.5 grams.

The estimates are based on results from 130 diamond drill holes (which total 24,416 metres), 40,000 metres of auger drilling and 10 km of trenching.

The reserve calculation takes into account only the Yaou Central and Chaina zones, though the property features three other areas of anomalous gold mineralization. Those zones — the Yaou Nord, Bois Blanc and Tomantoni — are considered worthy of follow-up exploration.

Guyanor has conducted most of its work on the Yaou Central zone, which hosts the bulk of the reserves. The zone remains open in three directions and at depth, whereas the Chaina zone, 7 km southwest of Yaou Central, is open in all directions and at depth.

The Yaou project is underlain by a greenstone sequence typical of the Paramaca formation, which is situated in southwestern French Guiana.

At Yaou Central, gold mineralization is generally associated with quartz veins and veinlets exhibiting sulphides, as well as with carbonate alteration contained in quartz-monzonite intrusives that have been intensely sheared.

Mineralization is also hosted in mylonitic, seriticized rocks associated with felsic volcanics and tuffs.

At the Chaina zone, gold mineralization is associated with quartz veins exhibiting sulphides in both chloritic and seriticized rocks of intrusive and sedimentary origin.

The Yaou Central and Chaina zones represent 15% of the total project area.

Three other zones of interest have been identified on the property.

The joint venture will spend the remainder of the year attempting to outline proven reserves. It also hopes to establish a mineralized inventory and new zones of mineralization.

Plans call for drilling of some 4,300 metres before year-end, on both Yaou Central and Chaina. The lateral and depth extensions on additional targets northeast of Yaou Central will also be tested, in the hope of identifying additional mineralization minable by open-pit methods.

A budget of $1.3 million will be used to finance the remainder of this year’s drill program and conduct additional exploration on the Bois Blanc target, 10 km north of Yaou Central.

The four partners also share, under a similar arrangement, the Dorlin project, 40 km east of Yaou. The best intersections of Guyanor’s initial drill program include: 14.6 metres of 1.5 grams gold; 16.5 metres of 1.1 grams; 13.5 metres of 2.5 grams; 12.3 metres of 2.9 grams; 9.3 metres of 4.6 grams; and 33 metres of 1.2 grams.

Guyanor’s core drilling has focused on Montagne Nivre, a prominent ridge at the southern end of a system of hydrothermal breccias on the 141-sq.-km property. Geologic mapping, soil sampling and auger sampling have traced the structure over a distance of 5 km.

The program at Dorlin for the remainder of the year includes mobilization of a second core drill. The program’s objective will be to test the depth of the Sud Nivre zone, as well as the continuity and depth potential along strike north of Sud Nivre. The partners also intend to confirm mineralized extensions encountered by previous owners.

A budget of $1.1 million will be applied to mobilizing the core drill and carrying out 2,400 metres of drilling by year-end.