Overview

Mine Type	Open Pit
Status	Inactive / Suspended
Commodities	Gold
Mining Method	Truck & Shovel / Loader
Production Start	...
Snapshot	It was revealed back in August 2023 that Troy Resources would be closing its operations in Guyana but management did not provide any exit plans to the State although it had announced the sale (liquidation) of its assets in the media. The government has since secured the Karouni Mining Site where Troy Resources operated. The company went into "care and maintenance" in early 2021 and failed to resume operations. They even proposed liquidating their assets to the government, but this was rejected because they were not addressing outstanding payments promptly. However, the government remained engaged in order to restart mining and settle outstanding debts. November 16, 2023 the government has decided to allow small miners to use the lands previously mined by the company.

Deposit type

• Vein / narrow vein
• Breccia pipe / Stockwork
• Mesothermal

Summary:

The Karouni Gold Project deposits are situated on the west-northwest trending Greenstone Belts of the Palaeoproterozoic Barama-Mazaruni Supergroup interspersed with extensive Granitoid Batholiths also of Trans-Amazonian age. Basement lithologies in the project area are partially obscured by a veneer of Tertiary to Holocene sedimentary cover.

Primary gold mineralisation is exposed at several localities within the Karouni Project, the most notable being the Hicks, Smarts and Larken Zones along the northern extremity of the project. Here the White Sand Formation cover has been removed by erosion to expose the underlying mineralised Palaeoproterozoic greenstone successions of the Trans-Amazonian Barama-Mazaruni Group.

Gold mineralisation within the Karouni Gold Project comprises mesothermal quartz, quartz-carbonate, quartztourmaline structurally controlled lodes, veins, stockworks and breccia zones variously hosted by Mafic to Intermediate Volcanics and Volcanoclastics, Carbonaceous Shales and syntectonic Granitoid Stocks. Gold is commonly accompanied by pyrite and less commonly arsenopyrite, in the latter instance particularly where hosted by Carbonaceous Shales and Phyllites. In essence, the style of mineralisation is entirely consistent with similar gold-bearing Archaean and Palaeoproterozoic greenstone terrains world-wide. Gold workings associated with recent alluvial deposits are notable along virtually all streams and rivers throughout the project area, where the barren White Sand Formation cover has been removed by erosion.

Gold mineralisation at the Hicks Deposit is hosted by a northwest trending, sub-vertical to steeply southwest dipping shear zone some 2,500m in strike length and up to 60m wide in places. The shear has developed within Basalts and Andesites comprising the footwall Greenstone Succession along the north-eastern limb of a shallowly northwest plunging anticline. Auriferous mineralisation is also noted at the contacts of PorphyryGranite intrusives. The shear is comprised of semi-continuous zones of quartz lenses and quartz-carbonate veining or brecciating.

At the Smarts Deposit gold is hosted by a northwest trending, sub-vertical to steeply southwest dipping shear zone 2,800m in strike length and up to 60m wide. The shear zone has developed within Basalts and Andesites comprising the footwall Greenstone Succession along the northeast limb of a shallowly northwest plunging anticline. Auriferous mineralisation is also noted at the contacts of porphyry-granite intrusives. The shear zone is comprised of semi-continuous zones of quartz lenses and quartz-carbonate veining or brecciation.

Mining Methods

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Comminution

Crushers and Mills

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Processing

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Production

Operational metrics

Metrics	2020	2019	2018	2017	2016
Stripping / waste ratio	....	6.92		7.7
Ore tonnes mined	....	811,664 t	996,529 t	783,291 t	476,817 t
Waste	....	4,812,557 t	4,639,288 t	6,733,918 t	5,189,000 t
Total tonnes mined	....	5,624,221 t	5,635,817 t	7,243,003 t	5,734,000 t
Tonnes milled	....	888,198 dmt	871,660 dmt	828,893 dmt	356,772 dmt

Personnel

Job Title	Name	Profile	Ref. Date
.......................	.......................		Nov 20, 2023