Edmonton-based Golden Star Resources has established initial reserve figures at three Guyana gold properties which are being explored in a joint venture with Giant Resources of Australia.
They include initial weathered zone inventory estimates from the Arakaka, Baramita and Million Mount permissions which Golden Star acquired from the government of Guyana in 1984.
Located in dense tropical forest, they are accessed by helicopter.
At the Arakaka permission northwest of Georgetown, reserves stand at 1,606,000 tons grading 0.061 oz gold per ton, At the Baramita prospect 40 km further west, reserves totalled 1,761,000 tons grading 0.047 oz and at Million Mount in northern Guyana reserves are calculated at 1,529,000 tons grading 0.044 oz.
Golden Star says its estimates are based on 910 auger drill holes to a depth of 6 m and at a spacing of 25×50 m. With pit and trench sampling also complete, the results are a combination of drill-indicated, drill-inferred and geological inventory.
“The surface work on two other prospects at Arakaka and Baramita is complete, but assay results are not yet available,” said Richard Fraser, Golden Star’s vice-president finance.
Exploration diamond drilling, which started in December 1987, is planned for all three prospects in order to evaluate the deeper weathered zone and test the bedrock potential, says Fraser.
In addition, preliminary engineering to determine an appropriate means of exploiting these deposits has started.
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