Gold Port Resources
Gold Port Resources (GPO - TSX Venture) is an aggressive Canadian junior
gold exploration company developing exploration opportunities in
geographic areas with a proven history of geological discovery in Guyana, South
America. Recent significant gold discoveries by Guyana Goldfields Inc.,
StrataGold Corp. and Sacre-Coeur Minerals Ltd. - along with a major
exploration presence in the country by Newmont Mining - have placed Guyana to
the forefront of the gold exploration sector.
Gold Port Resources Ltd. has plans to re-verify and
potentially extend historical drilling results at two advanced-stage gold
exploration projects, as well as launching exploration at a promising third
project currently hosting extensive artisanal gold mining activity. The
company’s 3,420-acre Akaiwong Gold Project was earlier identified and explored
primarily by Homestake Mining in 1990. The 3,801-acre Groete Creek project was
last explored by Coeur d’Alene Mines in 1996. Both projects have historical
drilling results, with numerous gold intercepts. Exploration work by Gold Port
will attempt to confirm the known gold zones, expand them, and allow them to be
classed according to current NI 43-101 technical standards. Gold Port is also
bringing to the table its Five Stars gold exploration project in
Guyana. Surrounded by the Newmont/Stratagold exploration holdings in the area,
the 20 sq. miles Five Stars project currently hosts considerable artisanal gold
mining activity.
Gold and the Guiana Shield
Guyana is an English-speaking tropical country bordering
the Caribbean Sea on the northeast coast of South America, wedged in between
Venezuela and Suriname and lying above Brazil.
The country is in the heart of a prolific gold region
called the Guiana Shield – also encompassing parts of Venezuela, Suriname and
French Guiana. Geologically, this is believed to be the broken-off extension of
the West African Shield hosting the Birimian gold belt in Ghana where at least
100 million ounces of gold has been identified to date.
Gold deposits in the Guiana Shield can be large in size.
Among the major gold deposits found here are the nearby Las Cristinas in
Venezuela, now held by Crystallex International, with a 13.6-million ounce gold
deposit now in development (Crystallex Annual Report 2005). Cambior Inc.owns
the 3.2-million ounce Rosebel Mine in Suriname, and the 1.2-million ounce Camp
Caiman Project in French Guiana (Cambior 2005 Annual Report, pages 11 and 17).
Guyana’s own position as a gold producing country
was first prominently highlighted when Cambior built the Omai Gold Mine here in
the early Nineties. At the time it was built, Omai was the largest gold mine in
that part of the world. Over 13 years, the Omai produced some 3.7-million
ounces of gold from a 42.9-million tonne heap-leachable resource grading 1.4
grams/tonne gold (Cambior Annual Report 2005, page 13).
What’s Happening in Guyana
Guyana is a poor country by North American standards.
Mining is one of the most important industries and a key provider of foreign
investment and much needed government tax revenue. Elections were held recently
and the government of President Bharrat Jagdeo was returned with a majority in a
fair and violence-free election. This is important for country stability, and
enhances the confidence of foreign investment capital. Gold Port is registered
as an “Internal Company” under the Company Act of Guyana. This allows the
company to take formal title to mining projects, as it has done at Akaiwong.
Three Projects in Guyana
Gold Port has three projects in Guyana. The Akaiwong project is
located on the Cuyuni River in Western Guyana. It is strategically
located close to the world class gold discovery by Guyana Goldfields (www.guygold.com)
at the Aurora Mine. Akaiwong has in excess of $US one million in
exploration expenditures to date, the results which have identified
areas of gold mineralization.
A drilling program started in December 2006 on the Akaiwong property. Check the
News Release Menu and go to Dec 6, 2006.
 Guyana
The Groete Creek Gold/Copper Project is located 43 miles southwest of Georgetown, the
capital of Guyana. The Groete Creek Gold/Copper Project is an advanced stage
exploration project.
The Five Stars Project is located in the northwest portion of Guyana,
near the Venezuelan border, approximately 200 air miles from the
capital city of Georgetown. Mining exploration companies have performed
significant exploration work on this property.
Gold Port Resources is actively searching for new projects in Guyana.
| Issued and Outstanding.... |
27,111,563 |
| Warrants................................ |
9,103,350 |
Information updated on May 29, 2008.
All technical information presented at this web site has been reviewed by Dr. A.D. Drummond, P.Eng., a Qualified Person as defined
in National Policy Instrument 43-101. Click here to view our disclaimer. |