Million Mountain Property
MILLION MOUNTAIN HARD ROCK GOLD TREND
The Million Mountain Project is a gold deposit located in the County of Demerara, west-central Guyana about 100 air kilometers southwest of the capital city of Georgetown, Guyana, South America. Current access is by road (7 to 9 hours) or speedboat and road (4 to 5 hours) from Georgetown. In periods of high water, riverboats can reach Million Mountain by using the Puruni River.
A 100 person camp is maintained at the Million Mountain site. The Million Mountain site comprises 21 contiguous claims and the area under tenure totals 88.5 square kilometers.
The Million Mountain Project is an advanced exploration play with a gold mineralized zone in Precambrian sediments in the upper portions of an intrusive quartz monzonite. Current modeling studies done for this technical report, limited to the “Zone 1” of the deposit, indicate a resource of 14.3 Million tonnes at an average grade of around 1.0 g/t with some smaller zones of much better grade. Gold mineralization exists in both the 30 m thick saprolite cap and the underlying bedrock. At the Million Mountain Zone 1 site, the bedrock consists of sedimentary and volcanic rocks of the Cuyuni Formation, part of the Baram- Mazaruni Group.
Access to the site is gained primarily from the capital of Georgetown through the use of roads and ferries and riverboats. The use of roads connects to a watertaxi system which conveys passengers to a resource road at the village of Itibali on the Mazaruni River, just upstream from the junction of the Essequibo, Mazaruni and Cuyuni Rivers. A “Dirt” bush road extends along the Mazarui River and then the Puruni River drainages. The river port village of Itibali is approximately 100 kilometers from the Million Mountain camp and the trip journey requires between 3 and 4 hours.
The Essequibo River is navigable by heavy tugs and barges from the sea port located in Georgetown to the river port of Itibali which would facilitate the movement of heavy equipment and supplies by river and road to the Zone 1 at Million Mountain site. Itibali is the closest town to the property.
HIGHLIGHTS OF THE MILLION MOUNTAIN HARD ROCK GOLD PROJECT:
- Large near-surface zone of gold-bearing mineralization - 600m x 400m has been drilled.
- Numerous high-grade shoots have been identified with up to 30.5 g/t Au.
- IP Targets suggest significant expansion with 8 additional zones along 20km trend near several known gold deposits.
- Interim Resource Estimate in Zone 1 represents only 1% of the area of the total mineralized target zones
- Resource estimate to be updated with up to 23,000 meters of additional drilling contribution added.
- Advanced Work Camp
- Core drilling Program with excellent results to date with Prospect drilling scheduled
451,397 TR OZ AU Now + Up to 23,000 Meters Additional drilling to contribute to next Resource Update Moving Towards Hard Rock Production
- Internal Pre-feasibility Analysis of Development of High Grade Core of Million Mountain Hard-rock Resource for Production Has Begun - Early Results Look Promising.
- Concept Being Investigated Utilizes A Modular 3,000 tpd Portable Process Plant
- Mine Shallow Higher Grade Mineralization
- Annual Production at 30 - 50K tr oz Au
- Annual Net Cash Flow Potential from $20 - $40 million
- Capital Development - $20 - $25 million
- Next Step to Commission Third Party Pre-Feasibility Rolling Into a BFS If Warranted
- As A Part Third Party Feasibility, NI 43-101 Compliant Resource Would Be Updated To Include Additional Drilling Since Last Resource Compilation (40 holes)
- Feasibility Funded From Operating Cash Flow (Alluvial Production & Contract Drilling)
- Mine Development Capital Funded By Equity Offering Plus Possible Project Oriented Debt Financing
- Timing - Pursue As Aggressively As Internally Generated Cash Flow Permits
- Million Mountain Zone 9 May Also Offer Near-term Hard-rock Production Potential
- Scout Drilling Intersected Near Surface High Grade Narrow Veins
- 45 g/t Au over 1 meter from surface outcrop
- 4.0 g/t Au over 13.6 meters intersected in drilling
- Follow-up Drilling (Resource Definition) Planned As Priority Program
- If Follow-up Drilling Positive, MM Zone 9 Would Be Examined For Feasibility Of Near Term Production In Addition To MM Zone 1
Email Sign Up
Enter your info to receive our monthly email updates