Welcome to Reunion Gold Corporation
Reunion Gold Corporation is a mineral exploration company focused on acquiring and exploring mineral projects in the Guiana Shield region of South America. The Company has assembled a large, strategic land position in North-western Guyana. Reunion Gold's shares are listed on the TSX Venture Exchange under the symbol "RGD".
Matthews Ridge Manganese Project, Guyana
In 2010, the Company, through its wholly owned subsidiary, Reunion Manganese Inc., was awarded by the Government of Guyana four prospecting licenses (185 km²) to conduct exploration and development activities for manganese in the North West District of Guyana. In 2011, it was awarded two Permissions for Geological and Geophysical Survey (14,770 km²) surrounding the PLs. The project is centered in and around the abandoned manganese mine at Matthews Ridge and Pipiani which was operated by a subsidiary of Union Carbide Corporation from 1962 to 1968. In excess of 1.66 million tonnes of manganese concentrate were shipped from the mine site during that period. The main project footprint hosting the manganese mineralization consists of a 15 km-long series of nine hills contained within the Matthews Ridge Formation and is known to extend for more than 40 kilometers of strike.
In October 2010: Exploration commenced. Over 65,000 meters of drilling completed in 2011 and 2012.
In March 2011: A mineral agreement with the Republic of Guyana was executed. The agreement sets out the fiscal terms and conditions for the exploration, development and mining at the Matthews Ridge manganese project.
In February 2013: Measured and indicated resource was estimated at 32.4 M tonnes at 14.0% Mn using an 8% Mn cutoff grade with an additional 5.3 M tonnes of inferred resources grading 15% Mn at an 8% Mn cutoff grade.
In July 2013: Pre-feasibility study was completed.
- Proven and probable mineral reserves of 26.3 million tonnes with an average grade of 14.2% Mn;
- Open pit mine and conventional washing and gravity plant processing 2.8 million tonnes of ore per year;
- Production of 750,000 tonnes of manganese concentrate per year over a 10 year mine life, mainly suitable in silico-manganese furnaces;
- Initial capital cost of $233 million;
- Internal rate of return of 15.7% based on consensus manganese price forecasts;
- Satellite manganese deposits offer significant potential to extend mine life or lead to expansion.
The Matthews Ridge Project is currently on care and maintenance while the Company is evaluating different options to finance the further development of the project.