GOLDEN PROSPECTS IN SOUTH AMERICA
January 20, 2022 Author: Stefan Feulner news| financial
An interesting opportunity currently presents itself in Guyana. The state in the north of South America on the Atlantic coast borders Brazil to the south and west, Venezuela to the northwest and Suriname to the east. Covered by dense rainforest and with a passion for cricket and calypso music, the English-speaking country has close cultural ties to the Caribbean. In addition, the area has a wealth of mineral resources. The country has one of the world’s largest deposits of bauxite, its most important export product. Moreover, besides diamonds, there is also a high mineralization of gold. In the past, gold exports accounted for more than 30% of total export volume.
The geological structures are similar to those of the West African continent, which is why global industry giants such as Newmont, Reunion, Troy, Omai Gold and G2 Goldfields have set up their tents in Guyana. Junior mining company Alerio Gold has thrown its hat into the ring with two promising projects. The Tassawini gold project, where Alerio Gold holds a 100% option to buy, has a historical resource estimate of 499,000 ounces. Already EUR 23.91 million has been spent on exploration by management, which brings decades of experience in the Guiana Shield. Mineralization at this project is open in several directions, so the area has already been expanded to 1381 hectares.
Mining licenses are already in place, and the current year will see a significant expansion of the exploration program. In addition to obtaining an environmental impact statement, Alerio Gold plans to publish a PEA study, a preliminary economic analysis. In order to fund this, the first tranche of a private placement was recently completed. The Company issued 2,841,000 units at a price of CAD 0.25 for total gross proceeds of CAD 710,250.00. The Company’s market value, also listed in Frankfurt, currently stands at EUR 10.97 million. ……. Link to original article: GOLDEN PROSPECTS IN SOUTH AMERICA