Joint venture partners Giant Resources of Australia and Edmonton-based Golden Star Resources say they will spend $2 million to continue exploration on three Guyana gold properties.
Previous exploration on the Arakaka, Baramita and Million Mount properties has determined that further work is warranted, the partners announced recently.
As reported (N.M., Jul 20/87), the Baramita is located 260 km west- northwest of Georgetown and historical documents say 12,000 oz grading 0.1 oz gold per ton has already been produced from the old camp.
Arakaka is located is 220 km northwest of Georgetown. Six small gold mines in the area produced 22,000 tons over a number of years.
Million Mount is in northern Guyana near the old Peters mine which produced 40,000 oz around the turn of the century.
According to Golden Star, the first phase of exploration at Arakaka’s Rodrigues prospect will consist of 2,700 m of diamond drilling through the weathered (saprolite) zone into the bedrock.
Depending on the results of this $2-million program, to be completed by August, further definition drilling is planned.
In a bid to bring currently identified prospects to a feasibility stage, the partners plan to spend $5.4 million this year
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