Groete Creek Gold/Copper Project

The Groete Creek property and the adjacent Georgetown West property are an advanced stage gold/copper exploration project. The Groete Creek Project is located 43 miles southwest of Georgetown, Guyana's  capital city.  The Groete Creek project license consists of 3,801 acres granted by the Guyana Geology and Mines Commission. The area is also the location of six placer mining operations which are currently producing significant amounts of gold. In September 2008, Gold Port purchased the Groete Creek Gold/Copper Project. The Company owns the project 100% subject to a Net Smelter Royalty of 1.5% retained by the owner, which can be purchased for U.S. $3.0 million.

The Groete Creek project was explored by the Geological Survey of Guyana and the United Nations Mineral Survey Project between 1967-1968. Drilling identified a large gold/copper mineralized system. In the mid 90’s, CAMDICO and the Caribbean Basic Industries (CBI), a wholly owned subsidiary of Coeur d’Alene Mines Corporation, entered into a joint venture to explore and develop the project. Further drilling expanded and upgraded the known gold/copper zone. Three drill holes bottomed in over 3.0 grams per tonne gold. Drilling at Groete Creek has identified a large gold/copper mineralized system which remains open in three directions and to depth.

The adjacent Georgetown West project was explored in 1997. Work completed in 1997 included extensive sampling and mapping and a ground survey. A gold in soil anomaly was identified and mapped for 2 kilometers in length and 500 meters in width, trending north/south. A total of 345 samples were taken at 25 meter sample intervals, over 12.5 kilometers of line, at 50 meter line spacings.  Loring Laboratories Ltd. of Georgetown, Guyana completed fire assays on all samples. Of the 345 samples assayed, 165 samples returned gold values with less than 100 ppb (parts per billion), and 180 returned gold values greater than 100 ppb. Contained within the 180 samples greater than 100 ppb gold, 90 were greater than 200 ppb gold, and 23 samples greater than 500 ppb gold. Within this contour, soil values range up to greater than 1,000 ppb (greater than one gram gold per tonne). The trend of the gold anomaly appears to be parallel to the strike of the foliation/shear direction of the underlying greenstone belt rocks and lies between the two intrusions mapped on the property.

Groete Creek Exploration Program

The Groete Creek exploration objective is to further define and enhance the known gold / copper zone at Groete Creek / Georgetown West.  Gold Port will conduct an initial 15-hole, 2,500 meter drilling program on the main zone.  Results will determine further work.  Gold Port will use one base camp to service the Groete Creek / Georgetown West   exploration program. 

Placer Miners at Groete Creek