Guyana hits gold in first hole

The first hole in a 4-hole program at the Peters mine property in Guyana intersected 52 ft. of gold mineralization grading 0.2 oz. per ton at a depth of 331 ft., reports property owner Guyana Goldfields (GGFI-C). The intersection included a higher-grade interval of 29 ft. at 0.305 oz. per ton.

The company has also drilled 83 sonic holes and, in the process, extended to 2,400 ft. the length of a zone worked by itinerant local miners. The zone returned a weighted average grade of 0.05 oz. per ton and has an average width of 350 ft.

Preliminary metallurgical tests reveal that 96.7% of the gold can be recovered in 48 hours by cyanidation.