- Extensive management experience in low-cost phased project execution in the Americas
- Guyana: an excellent jurisdiction. British law. No environmental, no social issues.
Vision at Eagle Mountain: Support a large-scale open pit gravity/CIL gold operation, focused on low strip ratio, low cost mining of EM’s surficial saprolite resources.
- Phase I Development (Pilot Plant) already built in 2015/16. Gravity only processing plant, open pit mine.
- Mix of dry (truck-excavator) and wet mining (Marok pumping).
- The Company intends to operate the plant at lower volumes (part time) until optimum parameters are achieved on a consistent basis to support breakeven to positive cash flow. In addition, operate to collect information for Large Scale Mining A) further test Marok, B) optimize cyclone, C) metallurgical test work.
- Immediate focus is on increasing our saprolite resources to a minimum of 600,000 oz, grading 1.0-1.5 g/t, via expansion and in-fill drilling which started in late May 2017. Core Rig purchased.
- Add new gold ounces and upgrade inferred resources into the indicated category in an updated resource estimate (Q4 2017).
- An NI43-101 compliant Pre-Feasibility Study will commence in June 2017. Tetra Tech Inc. of Canada retained. Delivery H1 2018.
Strategy - Next Three Years
Our Vision: Become a low cost gold producer in Guyana.
Production Capacity Target: 4,000 to 5,000 tonnes per day within 2-3 years.
- Increase saprolite resource with further drilling
- Produce New Mine Plan & Reserves
- Deliver a PFS for a Gravity/CIL plant, based on increased resource & mine life.
- Transition from medium scale to large scale mining license (which incl. EIAS, EPA submission & Final Permitting - Mineral Production Agreement with Government of Guyana & Environmental Permit)
- Subject to success, Finance, Development, Mine Construction, Commissioning & Production (2019-2020)
N. Eric Fier, CPG, P.Eng., Executive Chairman and Chief Operating Officer of the Company, is the Qualified Person under National Instrument 43-101, Standards of Disclosure for Mineral Projects, responsible for the preparation of the technical information included in this website and for supervision of field activities related to the Company projects.