Gold

Gold in Guyana
Sacre-Coeur has acquired extensive land holdings with potential for significant gold prospects. The company currently holds approximately 850 square miles of permits in four major gold targets. These four target areas (Lower Puruni regional block including Primary target; Million Mountain, Oko regional block, Northwest regional block and Katuni regional block) are considered targets for exploration and will be the major focus of the companies initial drilling and exploration programs.

The Million Mountain project comprises 21 contiguous claims and the area under tenure totals about 88.5 km2. It covers the Puruni River and Mara Mara drainages north of the Peters Mine property of Guyana Goldfields and covers areas of extensive past and current alluvial mining.

The Million Mountain area and adjacent Peters Mine area are one of Guyana’s gold mining centers. Placer gold operations are active along a number of local streams and river dredging has occurred along the Puruni River. Quartz veined material from a local placer operation on Sacre-Coeur’s ground contains course angular gold that suggests a local source. Previous exploration in the Million Mountain area by Heritage outlined a significant area of gold mineralization. A trenching and sampling program conducted by Sacre-Coeur confirmed a similar pattern of significant gold mineralization. Sampling by the Company has confirmed the presence of a high-grade shear zone within a halo of auriferous stockwork quartz veining. A historic resource of 1,323,803 tonnes grading 3.78 g/t Au requires validation by twinning of additional auger holes and drill of core holes across the steep high-grade structure.

History

The initial gold rush occurred in the 1880’s and was triggered by Venezuelan gold miners. Artisinal gold operations were being worked throughout the Northwest Region of, then British Guiana and widespread between the Cuyuni and Mazaruni Rivers. Small scale workings were excavated by pork-knockers, the common Guyanese term for prospectors who exploited what they found using manual or basic mechanically supported methods. The Peters Mine property, 6 km south-southwest of Million Mountain, was discovered by placer miners in 1904 and sold to a New York syndicate which from 1904 to 1909 produced 1,240 kg of gold from 63,000 tonnes of ore. The head grade was reported to be about 41 g/t Au which suggests a recovery of less than 50%. The Aremu Mine, a quartz vein mine located about 25 km northeast of Million Mountain, was reported to have operated between 1910 and 1911 producing 6,488 ounces of gold from 1,414,632 tons of ore.

In addition to the Million Mountain block of properties, the qualifying property, which is the most advanced project in the Company portfolio, the Company holds 818.8 square miles of mineral concessions, which it believes, are prospective for primary gold, alluvial gold, and alluvial diamonds.

• Lower Puruni regional block - 355.5 sq mi (includes Million Mountain at 34 sq mi)
• Oko regional block – 50.8 sq mi
• Northwest regional block – 355.7 sq mi
• Kartuni regional block – 56.6 sq mi

Guyana Map

Learn more about our properties in Guyana by clicking a location below.