Guyana is located in the northeast coast of South America; the official language is English and it is a member of both the Commonwealth of Nations and Caricom. The legal system of Guyana is based on English common law and it has a modern and transparent mining code and a Government that is supportive of mining.
Geologically Guyana is underlain by the Guiana Shield, a Proterozoic aged craton that before the opening of the Atlantic Ocean was contiguous with the Leo Mann Shield of West Africa. Both shields are host to discrete corridors of low grade metamorphic rocks (Greenstone Belts) that are host to substantial gold endowment. The geology of the Guiana Shield is similar in age, lithology and style of mineralisation to the prolific Birimian gold belts of West Africa which are highly prospective for high tonnage, orogenic style gold deposits, however, while Guyana hosts extensive greenstone coverage it remains significantly underexplored relative to West Africa.
The Guiana Shield already hosts numerous “World Class” (+3 million ounce) gold deposits with the majority of the known gold deposits located within a portion of the Shield that lies in greenstone belts within 200km of the coast. However, modern exploration across a vast portion of the Guiana Shield remains in its infancy. Ongoing development of industry in the Guiana Shield provide important infrastructure to further advance the understanding of mineralisation in the region.
There remains a high potential for a period for discovery of significant gold resources that West Africa has enjoyed over the past decade that currently continues throughout a number of Greenstone belts.
Diagrammatic reconstruction of Gondwanaland illustrating continuity of the West Africa Mann Shield greenstone belts (host to >300Moz of gold) to the Guiana Shield, (host to >50Moz of gold).
The Guiana Shield is already seeing a period of increased mineral development and discovery emerging despite a protracted downturn in the mineral sector in recent years. Several major new mines have commenced commercial production in recent history including Guyana Goldfield’s Aurora Mine hosting a 3.5Moz Au reserves at 3g/t Au, Troy Resources Karouni Project, producing a combined 240,000 oz per annum in Guyana, and Newmont’s Merian Mine with +6Moz Au resource in Suriname.
Discovery of additional resources is ongoing in the Guiana Shield with IamGold expanding the footprint of know mineralisation around its +8Moz Au Gros Rosebel Mining District with the recent discovery with high grade intercepts at the Saramacca Gold Project in Suriname.
Guyana has a population of over 800,000 people predominantly located in and around the capital city, and along the coast, with several small towns scattered in the country’s interior.