Lely Gold Project, Suriname
The Lely Project is an early stage exploration project with limited previous exploration activity having been carried out to evaluate the gold and base metal potential of the area. The project encompasses a greenstone belt with similar geology to that hosting the Gross Rosebel gold deposit and other substantial gold deposits in Venezuela, Guyana and French Guiana. Lely hosts several large areas of artisanal workings that appear to be surface expressions of more deep rooted gold bearing structures.
Exploration
In 2008, the Company carried out an airborne magnetic and radiometric survey on a 250-meter line spacing and conducted a bulk leach extractable gold (BLEG) sampling program over a 230 km2 area to the east of Lely Plateau, and in the south east corner of the Lely east concession, following up on earlier anomalous results. Following completion of this work, there was a hiatus until the second half of 2011 when work resumed. A comprehensive stream sediment sampling program was conducted, with approximately 120 samples being collected from all major streams over a roughly 30 km by 30 km area. A follow-up program began in mid-February 2012, consisting of prospecting, geochemical sampling, and geological mapping of areas that returned anomalous gold values in 2008, and investigation of anomalous drainages identified by the 2011 stream sediment sampling program, and of artisanal mining pits located on the project. More than 1,200 rock, auger and soil samples were collected by the end of this program at the end of May 2012, from which three new prospects were identified where sampling returned anomalous gold values. A follow-up phase 2 field work program began in mid-September 2012, involving geological sampling over various areas of the project, as well as further investigation of anomalous drainages and artisanal activities. Data organization and compilation is underway.
Metallogenic Setting
• The west Africa and Guiana Shields are the same age.
• Lithologies are similar.
• Gold deposits similar in style and setting.
• Suriname gold endowment probably similar to Ghana but not realized because of lack of access (roads).
Regional Geology
The major greenstone belts in Suriname are on the eastern side of the country and extend into French Guiana.
Greenstone Belts
• Eastern Suriname greenstone belts
• Gross Rosebel Mine production: 301,000 ounces of gold were produced in 2006 and 276,000 ounces of gold in 2007.
Lely Gold Greenstone Belts Map
Lely Permit Areas
• The Lely Gold Project is a 82,850 ha area.
• There is no infrastructure in the project area.
note: A bauxite deposit owned by SURALCO in the central permit is not part of the optioned area.
Lely Gold Permit Area
Lely Geology
• Simplified geology shows the largest greenstone (metabasalt) area is in the north permit.
• Tonalite in the south and northwest permits are also considered to be prospective.
• The area is relatively unexplored.
Lely Gold Geology Map
Airborne Magnetics
Widely spaced air mag, flown in the early 1960's needs to be reprocessed to allow adequate interpretation. There is little other data for the area.
Lely Gold Airborne Magnetics Map
Artisanal Mining
• Gold has been mined from alluvial deposits by artisanal miners north, south, east and west of Lely Mountain for over the last 100 years.
• Intensive alluvial gold mining is currently taking place in Gran Creek, northwest of the Lely Mountain foothills in the north permit.
• There has been no systematic modern exploration in this area.
Technical Report and Annual Report 2008
Click here to view Technical Report for the Lely Gold Project in Suriname
Click here to view Annual Report for the Lely Gold Project in Suriname
