Junior Altai Resources (TSE) will complete a final feasibility study of the Tassawini gold project in Guyana.
The property is a 50-50 joint venture with Menora Resources (ME). Altai is the operator.
About US$8 million has been spent on exploration, which included drilling 120 holes. From a surface oxide deposit, Altai has calculated preliminary reserves of 2 million tons at low grade. It hopes to mine the oxide material using an inexpensive open-pit method.
Below surface is a gold-bearing sulphide deposit averaging 3 grams per tonne. Drilling has probed only the upper surface of this sulphide zone, which is hosted in a greenstone belt.
A production decision is expected by early 1995.
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