Noseno Gold Project

COUNTRY PROFILE

Guyana

  • Highly prospective and underexplored

  • Investor-friendly government policies

  • English speaking democratic republic

    • British common low

    • Secure tenure

  • Democratically elected government

  • Government Royalty

    • 5% for gold price < US$1,000 /oz

    • 8% for gold price > US$1,000 /oz

  • Corporate income tax rate of 27.5%

  • No withholding tax on interest

Resource Endowment

  • GOLD – Toroparu (GCM Mining.), Aurora mine (Zijing Mining Croup Co.), Omai Mine (Omai Gold Mines Corp.), Karouni (Troy Resources, Barrick JV)

  • OIL – ExxonMobil discovered a Guyana offshore crude oil deposit, total reserve 9 bn barrel (750 BBL production per day by 2026)

  • BAUXITE – Bonasika Mine (First Bauxite Llc.), UC Rusal, Bosai Minerals Group

  • Manganese – 30 M-ton reserve being developed by Bosai with 600kt/y production commenced in 2021

North-West Mining District

  • GOLD EXPLORATION:

    • Considerable exploration in the District by juniors and majors (Newmont, Barrick, Nordgold)

    • Alerio Gold – Tassawini project (499 Koz)

    • Virgin Gold – Arakaka project (520 Koz)

  • MANGANESE MINING:

    • Long history of managanese mining dating back to 1962

    • Bosai Minerals Group – Matthew’s Ridge, recently redeveloped & now shipping ore

    • Port Kaituma reconstruction complete

Tectonic Setting

Guiana shield very underexplored relative to the Birimian, with 15 yrs vs. 100 yrs of exploration history

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Geological Setting

  • Noseno is located in the Trans- Guyana gold belt

  • Paleo-Proterozoic greenstones intruded by Trans-Amazonian granitoids

  • Orogenic-style structurally controlled gold mineralization associated with major structures, intrusive contacts and deformation zones within smaller intrusives

  • Exploration in Guyana quite immature. Only two active large- scale gold mines (Aurora and Karouni), one development project (Toroparu), several advanced / resource growth projects and a handful of active explorers

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Location

210 km (1 hr flight) west of the capital, Georgetown, and 75km south of regional supply centre at Port Kaituma (inland port).

Recently improved roads from Port Kaituma to Matthews Ridge to Noseno.

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Profile

  • 152.25 km2; 37 medium-scale mining permits

  • Small-scale hard rock and placer mining with a history of 100 years

  • Multitude of artisanal workings

  • Unexplored, apart from limited work on Noseno & Williams prospects

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Regional Geology

Noseno located in the same greenstone terrane that hosts the largest gold deposits in Guyana, the Aurora Mine and the Toroparu Project

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Regional Magnetics

Situated between two major crustal structures along which the Aurora Mine and the Torparu Project are located

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Local Geology

Largely underlain by greenstone, intruded by multiple granitic stocks and larger batholiths surrounding the property → Multiple contacts for orogenic,

structurally hosted mineralization to have focused upon

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Noseno Prospect

  • Located on Higgins small-scale claims within XAU Resources Inc. mining permit

  • Target of small-scale miners since the 1930’s

  • Multiple 0.5-1.0m wide quartz veins, multiple grab samples > 100 g/t Au, hosted in sheared amphibolites

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  • Prospect area 700m long by up to 280m wide

  • Limited diamond drilling by Riva Gold Corp in 2010 returned up to 1.6m @ 98.9 g/ t Au including 0.5m @ 274 g/t Au

  • Little exploration conducted by Riva Gold outside of the small Noseno and Williams prospects

Noseno Nuggets

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Planned Exploration Program

PHASE I Target Identification

  • Stream sediment sampling

  • Geol mapping, prospecting,

    rock sampling

  • Historic airborne data acquisition, reprocessing

  • Soil sampling, infill soil sampling

 

PHASE II Target Testing

  • Trenching

  • Diamond drilling

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The photos are from other projects in Guyana and are for illustrative purposes