Groete Gold Copper Project
Guyana’s Third Largest Gold Copper Deposit
Gold Port’s wholly owned Groete Gold Copper Project has an extensive exploration history. Drilled by the United Nations in the 1960’s and Coeur d’Alene Mines Ltd. in the 1990’s, the project has emerged as one of Guyana’s largest gold copper zones, and the only deposit with deep water access.
In 2011, work by Gold Port expanded the known surface gold zone from 1,200 meters to 4,000 meters. The Groete Deposit contains a pit constrained Inferred Mineral Resource Estimate of 1.57 M gold equivalent (AuEq) oz (ounces) at 0.66 grams/tonne (g/t) AuEq including 0.49 g/t gold (Au) and 0.12% copper (Cu) contained in 74.0 million tonnes (Mt). A gold price of US$1,275/oz and copper price of US$3.00.lb were used for the Mineral Resource Estimate. The project is open in all directions.
Gold Port has a 12,000 meter infill and expansion drill program planned for 2020-2021 to further define and potentially expand the known gold copper resource.
Developing One of the Largest Gold Copper Deposits in Guyana
High value low cost exploration and development
- Experienced team with Exploration Office in Georgetown, Guyana, and fully equipped exploration company
- 100% owned Groete Gold Copper Project, located close to infrastructure, ports and major cities. Full mining permits
- An in pit NI-43-101 Inferred Resource of 1.57 million ounces at 0.66 grams per tonne gold equivalent (AuEq) including 0.49 g/t Au and 0.12% copper (Cu) contained in 74.8 million tonnes (U.S. 1,275 per ounce gold price and $ U.S. 3/lb copper price used in calculation)
- Significant deposit expansion potential
- Preliminary Metallurgy – High recoveries of Copper 96.6 % and Gold 82.4% by conventional methods (SGS Canada)
A major gold copper deposit close to infrastructure
- Located 30 kilometers from port City of Bartica and close to the Essequibo River, a major transportation route
- Most accessible major resource in Guyana with the only short access to deep water
- Over 3,000 hectares in total
- Only 65 kilometers from the capital, Georgetown
Historic Exploration
- Drilled by Coeur d’ Alene Mines from 1994 to 1997 – 5,560 meters of core drilling
- Defined gold copper zone with 4 kilometers of known strike east to west
- Deposit open to west, east and north
Codrington Exploration History
- Late 2010 -2011 – removed “pork-knockers” from project; over 400 people illegally on-site mining surface gold
- 2011 – established road network and constructed full camp facility; located heavy equipment on-site
- 2011 – reviewed and processed all historical information
- 2012 – completed four twin holes and three infill confirmation holes on project
- 2013 – completed NI 43-101 Resource Estimate
Eastern Zone Target Area
- Geoprobe surface evaluation completed on eastern zone; 52 deep soil holes of up to 8.75 meters in depth
- Significant deep soil results with up to 2.65 grams per tonne gold over 8.75 meters, surface down
- 47 of 52 holes anomalous for gold (over 0.10 grams per tonne) with 23 greater than 0.50 grams per tonne gold average
Guyana Mining Activity
- Guyana Goldfields Aurora Deposit recently acquired by Zijin Mining Group Co Ltd for $323 Million
- Robert Friedland recently appointed Chairman of Gold X Mining Corp., moving Toroparu Gold Deposit to a Mining License
Potential low cost of development
- Approximately 30 kilometers from Bartica, a major mining support city
- Approximately 8 kilometers from deep water and 65 kilometers from Georgetown
- Large open ended 1.57 million Au/Eq ounce inferred resource with significant expansion potential
Timeline – Groete Gold Copper Project
2020 Development Program
