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Projects

Aurora Project

News Releases

  • Oct 20, 2014  Guyana Goldfields Achieves Financial Close and First Drawdow...   read more...
  • Sep 03, 2014  Guyana Goldfields Completes US$185 Million Project Finance F...   read more...
  • Aug 12, 2014  Guyana Goldfields Announces Change in Financial Year-End...   read more...
  • Jun 27, 2014  Guyana Goldfields Announces Closing of Private Placement to ...   read more...
  • Jun 11, 2014  Guyana Goldfields Announces Fully Subscribed Private Placeme...   read more...
  • Jun 09, 2014  Aurora Gold Project Fully Funded; Guyana Goldfields Secures ...   read more...
  • Apr 28, 2014  Guyana Goldfields Inc. announces results of Annual Sharehold...   read more...
  • Dec 23, 2013  Guyana Goldfields Announces Changes to its Board of Director...   read more...
  • Dec 09, 2013  Guyana Goldfields Approves US$238M Aurora Gold Project Spend...   read more...
  • Nov 05, 2013  Guyana Goldfields Signs Mandate Letter for US$165 Million De...   read more...
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Aurora Project

Overview

Guyana Goldfields Inc. is focused on the construction and development of the Aurora Gold Project which is scheduled to reach commercial production 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
Email:

For Investor Queries

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