Guyana

Karouni Mine

Click for more information

Categories

Overview

Mine TypeOpen Pit
Commodities
  • Gold
Mining Method
  • Truck & Shovel / Loader
Production Start... Lock
ShapshotIt 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.

Owners

SourceSource
CompanyInterestOwnership
Troy Resources Ltd. 100 % Indirect
Troy Resources Guyana Inc. (operator) 100 % Direct
October 17, 2023 the Guyana Government announced that the agreement with Australian-headquartered mining company, Troy Resources Guyana Inc., has been canceled and its license to mine in Guyana has been terminated.

The government has since secured the Karouni Mining Site where Troy Resources operated.

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.

Reserves

Lock

- subscription is required.

Mining Methods

Lock

- subscription is required.

Comminution

Crushers and Mills

Lock

- subscription is required.

Processing

Lock

- subscription is required.

Production

CommodityUnits20202019201820172016
Gold oz  ....  Subscribe58,11870,20756,02334,740
All production numbers are expressed as metal in doré.

Operational metrics

Metrics20202019201820172016
Stripping / waste ratio  ....  Subscribe6.92 7.7
Ore tonnes mined  ....  Subscribe811,664 t996,529 t783,291 t476,817 t
Waste  ....  Subscribe4,812,557 t4,639,288 t6,733,918 t5,189,000 t
Total tonnes mined  ....  Subscribe5,624,221 t5,635,817 t7,243,003 t5,734,000 t
Tonnes milled  ....  Subscribe888,198 dmt871,660 dmt828,893 dmt356,772 dmt

Production Costs

CommodityUnits2020201920182017
Cash costs Gold USD  ....  Subscribe 782 / oz   737 / oz   970 / oz  
All-in sustaining costs (AISC) Gold USD  ....  Subscribe 1,095 / oz   931 / oz   1,345 / oz  

Financials

Units2020201920182017
Capital expenditures M USD  ....  Subscribe 16   3   16  
Revenue M USD  ....  Subscribe 103.6   116   92  
After-tax Income M USD  ....  Subscribe 45.8   -10   -148  
EBITDA M USD  ....  Subscribe 12   24   -7  

Heavy Mobile Equipment

Lock

- subscription is required.

Personnel

Mine Management

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Nov 20, 2023

Aerial view:

Lock

- subscription is required.