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Aurora Project

News Releases

  • Nov 16, 2015  Guyana Goldfields Inc. Files Third Quarter Financial Stateme...   read more...
  • Oct 29, 2015  Guyana Goldfields Inc. Announces First Gold Sale at Its Auro...   read more...
  • Oct 22, 2015  Guyana Goldfields Inc. Comments on Venezuela Border Dispute...   read more...
  • Oct 05, 2015  Guyana Goldfields Inc. Announces Scheduled Departure of Chie...   read more...
  • Sep 21, 2015  Guyana Goldfields Inc. Announces Aurora Gold Mine is Mechani...   read more...
  • Sep 17, 2015  Guyana Goldfields Inc. Announces Inclusion in the S&P/TSX Gl...   read more...
  • Aug 21, 2015  Guyana Goldfields Inc. Files Amended and Restated AIF...   read more...
  • Aug 04, 2015  Guyana Goldfields Inc. Pours First Gold at its Aurora Gold M...   read more...
  • May 27, 2015  Guyana Goldfields Inc. Commences Mill Commissioning; First G...   read more...
  • May 26, 2015  Guyana Goldfields Appoints Wendy Kei to its Board of Directo...   read more...

Aurora Project


Guyana Goldfields Inc. is focused on the construction and development of the Aurora Gold Project which is scheduled to reach first gold pour by mid-2015. The mine plan for the Aurora Gold Project is designed to produce 3.29 million ounces of gold, averaging 194,000 ounces per year, over an initial 17 year mine life. The Aurora Gold Project has total proven and probable reserves of 3.48 million ounces of gold (2.38 million tonnes at 3.04 g/t Au of proven reserves and 37.22 million tonnes at 2.72 g/t Au of probable reserves). The project has a total gold resource of 6.54 million ounces in the measured and indicated categories (62.83 million tonnes at 3.24 g/t Au) as well as an additional 1.82 million ounces in the inferred category (16.93 million tonnes at 3.34 g/t Au). 

Mine Plan

Financials @ 5% Discount Rate Aurora Gold Project Mine Plan Parameters
Gold Price Base Case $1,300/oz
Mine Life 17 years
Commercial Production Mid-2015
Average Mill Throughput 5,000 tpd / 10,000 tpd
Mine Depth 1,037 m (970mbsl)
Strip Ratio (waste:ore) 4.7:1
Average Gold Grade 2.74 g/t
Gold Recovery 97% (saprolite); 94.4% (fresh rock)
Total Gold Production 3.29 Moz
Average Operating Cash Cost (w/Royalty) $527/oz
Initial Capital Cost $249 M
After-Tax Net Present Value (NPV) $735 M
After Tax Internal Rate of Return (IRR) 31%
After-Tax Payback Period 4.4 years

Projected Operating Costs

Open pit cost per tonne $2.42
Open pit strip ratio (waste:ore) 4.7:1
Mining cost per tonne to the mill $13.68
Underground Cost per tonne $19.28
Processing cost per tonne $13.78
General & Admin cost per tonne $3.83

For further details, please refer to the press release dated December 9, 2013 and the report entitled "NI 43-101 Technical Report, Updated Feasibility Study -- Aurora Gold Project" dated January 29, 2013 available on SEDAR at www.sedar.com. 


Guyana Goldfields Inc.

141 Adelaide St. West, Suite 1608
Toronto, ON., M5H 3L5
Telephone: (416) 628 5936
Fax: (416) 628 5935

For Investor Queries

Vice President, Investor Relations & Corporate Communications
Jacqueline Wagenaar
Tel: 416-628-5936 Ext 2295