Guyana Goldfields resumes underground exploration decline construction
TSX-listed Guyana Goldfields has resumed construction and development work on an underground exploration decline at its Aurora gold mine, following environmental authorisation from the Guyanese Environmental Protection Agency (EPA).
The mine, which has been in commercial operation as an openpit since 2016, is anticipated to transition into an eventual combined openpit and underground operation and would become the first modern underground mine developed in Guyana.
The underground decline is intended for exploration and definition drilling in support of planned underground production. The company temporarily suspended work on the underground decline in November, at the request of the EPA.
The recommencement of work on the underground decline would begin immediately, Guyana Goldfields reported on Wednesday.
Going forward, a contractor would complete and reinforce the collar and extend the decline 200 m to fulfil the scope of the early works phase. The company says this work will take about three months to complete once the contractor is fully mobilised. A budget of $2-million has been approved for the early works phase.
Guyana Goldfields further said that it was finalising the review of bids received for the underground development contract and that it would aim to award the contract in the second quarter.
The decline is intended to provide access to all principal underground mining areas, including some higher-grade zones in Mad Kiss and East Walcott, which will allow the firm to further delineate exploration targets and potentially add mineral resources and help convert mineral resources to mineral reserves.
In addition, the permit allows for test mining of up to 350 000 t that could potentially provide supplemental mill feed during the development period and further unlock value at the Aurora mine.
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