Mining companies found gold in Guyana

Australian mining companies Alicanto Minerals and Troy Resources reported that they discovered gold deposits in Guyana, ranging approximately 500,000 ounces.

This is the equivalent of 1.8 grams per ton of ground ore, making it the second announcement that came days after another company reported that it found deposits of the metal underground, an estimated 15 grams per ton, at its Karouni mine, Smarts Underground in Region Seven, in the north-central part of the country.

“The resources found extend from the surface to a maximum vertical depth of 150 meters,” Alicanto added in a statement. The valuable mineral is found at a depth of 150 meters underground in the Seven region of Guyana.

In turn, it indicated that previous exploration work by Newmont and Barrick Gold Corporation provided them with the necessary data, including geochemistry, geophysics and infrastructure of the camp to discover the gold.

Alicanto Managing Director, Peter George, said the 500,000 ounce gold finfing is just the beginning and he believes there is potential for more findings. The Australian-based company is currently engaged in mineral exploration in South America and Sweden.

Source: Doblellave