Preliminary bulk testing of diamond-bearing gravels on a 400-sq.-km Guyana concession optioned by South American Goldfields (TSE) from Golden Star Resources (TSE) commenced recently.
Approximately 25 million cubic metres of diamondiferous gravels with associated gold credits have been outlined by drilling in the Red Hill Loop area of Guyana’s Mazaruni River drainage basin. South American Goldfields can earn a 65% interest in the project.
While heavy equipment brought into the mine site during the past six months was being commissioned, widely spaced samples from the Eping grid yielded more than 240 diamonds, according to South American Goldfields. “The quality of the diamond stones is high with values estimated in the range of US$100-120 per raw carat,” the company said.
Bulk sampling designed to test for both bulk minable tonnages and several prospective high-grade environments is being conducted at 50 sites, each consisting of a salvo of three 1.5-metre diamond pits excavated to depths of up to 12 metres.
Having installed a 1.5-cubic metre-per-hour plant, capable of recovering 96% of diamond tracers, South American Goldfields is encouraged by initial results. It says economically significant grades of diamonds and gold have been recovered from eight of the first 10 samples treated.
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