The Aurora Goldmine, operated by Canadian based company, Guyana Goldfields Inc., recently revealed that the said mine produced more than 500,000 ounces of gold in just over three years of commercial production.
Speaking on this matter with much exuberance was Chief Executive Officer (CEO) of the company, Scott Caldwell. He said that this achievement was had in spite of “tough challenges.”
Caldwell noted that the Aurora results were pulled from the updated Mineral Resource and Mineral Reserve estimates and Life of Mine Plan (LOM) which was completed by Roscoe Postle Associates Inc. (RPA).
The Guyana Goldfields CEO said, “The results of RPA’s work demonstrate a profitable future as the mine transitions from an open pit operation into an underground mine. It provides a prudent and achievable operating plan and ensures an accurate model for production and cost forecasting. We have identified and initiated a number of cost savings programmes that will lead to improved operational efficiency.”
Caldwell continued, “We have strengthened our leadership team, streamlined our organisational structure, initiated partnership arrangements with key contractors and suppliers and, in addition, implemented improved operating procedures and optimised our capital spending. We continue to believe that there is considerable, untapped potential for additional, high-quality ounces in this system.”
The Canadian official added, “We expect to access high-grade zones beneath Mad Kiss with our underground exploration development later this year and will look to secure our permit for commercial underground production in a timely manner.”
Caldwell reminded that RPA was engaged to review the Mineral Resource and Mineral Reserve estimates and the overall LOM plan at Aurora in last October. He said that the decision was taken after it became apparent that gold production during the fourth quarter of 2018 would fall short of the forecast, which had been based on the original resource model developed in 2012 under prior management.
Caldwell said that the updated Mineral Resource is based on a revised geologic interpretation of the style and structural controls for certain areas of Aurora mineralisation resulting from open pit production and geologic mapping, 12,801 metres of new oriented core drilling along with re-logging of some 50,000 metres of drill core.
He said that modelling parameters, including the grade capping, domain boundaries, and kriging algorithms were all modified.
With respect to Proven and Probable Mineral Reserves, Caldwell said that these are estimated at December 31, 2018, to be a total of 27 million tonnes grading 2.63 g/t and contain 2.3 million ounces of gold.