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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

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  • Paleo-Proterozoic greenstones intruded by Trans-Amazonian granitoids

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

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  • 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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KM
100

Location

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

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

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Profile

  • 152.25 km2; 37 medium-scale mining permits

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

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  • Multitude of artisanal workings

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  • 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

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

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  • 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

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  • 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

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  • 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

 

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PHASE II Target Testing

  • Trenching

  • Diamond drilling

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

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