Projects
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Valle Hondo Project
Located near the Cuyuni River the Valle Hondo Project encompasses more than 25,000 hectares and is about 40 km southeast of the SREP Project and Emilia facility. With the limited drilling of 13,000m in 114 drill holes, the project contains a current NI 43-101 compliant resource of 103,000 ounces indicated and 1,344,000 ounces inferred. Scott Wilson RPA has completed a mineral resource estimate for the Valle Hondo Project. The estimate was prepared using a cut-off grade of 0.5 g/t Au. High grade assays were cut to 20 g/t Au. Scott Wilson RPA constructed a block model for the deposit. Dimensions of the blocks were 25 m (along strike) by 10 m (down dip) by 6 m. Grades were interpolated into the blocks using ordinary kriging.
The Valle Hondo project is characterized by several kilometre-scale targets of which only one has been moderately drill tested. These targets have excellent potential to expand the near surface zones and define the higher grade results received to-date (up to 100 g/t). These main zones are open in all directions and an additional 17,000m of drilling was completed in 2008. Additional work will be completed in 2010.
Concession GeologyIn the Valle Hondo area, the greenstone volcanic rocks are is intruded by units of the Supamo Complex. The host of mineralization, the Apanao Intrusion, has approximate dimensions of 3,000 m by 1,500 m. The intrusion has been sheared and has undergone extensive siliceous alteration. More recently, there has been extensive deep weathering.
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