A Canadian-based gold mining company said Guyana has great potential to become South America’s favoured destination for investments even as it recently announced the detection of anomalous gold.
The values range up to 12,334 parts per billion (ppb) (12.234 grams per ton (gpt) of Au (gold) from recent tests done at its Aranka North project, located in the Waini River.
Canamex Resources Corporation Chief Executive Officer, Greg Hahn
Guyana Times International last week had headlined a report on the company saying it had found large gold deposits, but it was large gold mineralisation instead.
Meanwhile, Chief Executive Officer of Canamex Resources Corporation, Greg Hahn said in a recent interview that Guyana hosts one of the newest emerging and most undeveloped gold provinces known in the world.
In addition, it has a stable government based on English common law. An analyst for RBC Capital Markets said it best, “Guyana has great potential to become a favoured South American destination for investment, as high geological prospectivity meets a government keen on developing its mining industry”.
Canamex’s Aranka North project is located on 98,000+ acre lands about 140 kilometres northwest of the capital city of Georgetown on the most pronounced and productive northeasterly aligned gold trend in Guyana, where this gold trend intersects a northwest alignment of known gold deposits. It is the intersection of these two structural trends that establishes Aranka North as an exciting exploration opportunity for hosting a major bedrock gold deposit.
Asked about the company’s exploration strategy, Hahn said there is active alluvial mining on the property, “so we know there is gold in the area. Our objective is to discover the sources of bedrock gold which are feeding into the streams and the alluvial gold operations. We are taking a measured and cost effective approach, starting with high level interpretation and working our way in stages to the bedrock targets. As everyone knows, you have to drill in order to prove up a gold deposit. However, drilling is very expensive, so the objective is to eliminate as much of the risk as possible and define the target as clearly as we can before we start drilling. That’s our focus at the moment”.
He added that the company has been able to obtain airborne geophysical data over the entire Aranka North property when it acquired the property from GMV Minerals.
“The initial interpretive work identified 15 large, discrete anomalies, all of which have a dimension of two to four kilometres long and one to three kilometres wide within larger shear zones. These anomalies cover an area of approximately 200 to 225 square kilometres on our property, so that work alone reduced the size of our initial area of interest by 50 per cent,” Hahn explained.
Hanh said the company then commenced an initial stream sediment sampling programme from a total of 85 sample sites to evaluate the gold signatures of the 15 airborne geophysical anomalies. That is a density of roughly one per 2.5 square kilometres (85X2.5= 212.5 sq km).
A Canadian-based gold mining company said Guyana has great potential to become South America’s favoured destination for investments even as it recently announced the detection of anomalous gold.The values range up to 12,334 parts per billion (ppb) (12.234 grams per ton (gpt) of Au (gold) from recent tests done at its Aranka North project, located in the Waini River.Guyana Times International last week had headlined a report on the company saying it had found large gold deposits, but it was large gold mineralisation instead.Meanwhile, Chief Executive Officer of Canamex Resources Corporation, Greg Hahn said in a recent interview that Guyana hosts one of the newest emerging and most undeveloped gold provinces known in the world. In addition, it has a stable government based on English common law. An analyst for RBC Capital Markets said it best, “Guyana has great potential to become a favoured South American destination for investment, as high geological prospectivity meets a government keen on developing its mining industry”. Canamex’s Aranka North project is located on 98,000+ acre lands about 140 kilometres northwest of the capital city of Georgetown on the most pronounced and productive northeasterly aligned gold trend in Guyana, where this gold trend intersects a northwest alignment of known gold deposits. It is the intersection of these two structural trends that establishes Aranka North as an exciting exploration opportunity for hosting a major bedrock gold deposit.Asked about the company’s exploration strategy, Hahn said there is active alluvial mining on the property, “so we know there is gold in the area. Our objective is to discover the sources of bedrock gold which are feeding into the streams and the alluvial gold operations. We are taking a measured and cost effective approach, starting with high level interpretation and working our way in stages to the bedrock targets. As everyone knows, you have to drill in order to prove up a gold deposit. However, drilling is very expensive, so the objective is to eliminate as much of the risk as possible and define the target as clearly as we can before we start drilling. That’s our focus at the moment”. He added that the company has been able to obtain airborne geophysical data over the entire Aranka North property when it acquired the property from GMV Minerals.“The initial interpretive work identified 15 large, discrete anomalies, all of which have a dimension of two to four kilometres long and one to three kilometres wide within larger shear zones. These anomalies cover an area of approximately 200 to 225 square kilometres on our property, so that work alone reduced the size of our initial area of interest by 50 per cent,” Hahn explained.Hanh said the company then commenced an initial stream sediment sampling programme from a total of 85 sample sites to evaluate the gold signatures of the 15 airborne geophysical anomalies. That is a density of roughly one per 2.5 square kilometres (85X2.5= 212.5 sq km).
