- Gold X Mining (GLDX) has launched a definition drilling and resource expansion program at its wholly owned Toroparu Gold Project in Guyana
- The company plans to drill at least 12,000 metres, testing the continuity of recently identified high-grade gold-bearing structures
- A shallow resource expansion program will also seek to re-classify inferred gold resources in several zones
- Service agreements have been signed with SRK Consulting and High Power Exploration, which will assist in reviewing historical data and designing the program
- Gold X Mining (GLDX) is currently down 0.27 per cent to C$3.69 per share at 12:12pm EDT
Gold X Mining (GLDX) has launched a definition drilling and resource expansion program at its wholly owned Toroparu Gold Project in Guyana.
The company intends to carry out at least 12,000 metres of drilling, which will focus on testing the continuity of recently discovered high-grade gold-bearing structures. It’s thought that these zones of mineralisation extend both laterally and below the current open-pit resource shells that were previously identified.
In addition to the definition drilling, the program will also seek to re-classify inferred gold resources within several regions of the Toroparu Northwest and Toroparu Main zones.
This is expected to include drilling for mineralisation not yet tested at the Northwest zone, as well as the extension of the overall Toroparu Trend by at least 600 metres from the current northwest limit.
SRK Consulting and High Power Exploration, a company founded by Gold X’s recently appointed Chairman, Robert Friedland, have been contracted to conduct a review of historic data and assist in the design of the exploration program.
Paul Matysek, CEO of Gold X Mining, said High Power Exploration has been instrumental in reviewing and reconceptualising the extensive geological data collected at the Toroparu Project.
“The results of this review have opened the possibility of significant optimization of the mine plan, and we are incorporating these results into our current drilling plans.
“We are excited to combine our efforts to develop one of the largest gold resources in the Americas,” he added.
The drill program forms part of a broader optimisation strategy for the project, which is expected to result in a final feasibility study in conjunction with the issuance of a Mining License by the Government of Guyana in 2021.
Gold X Mining (GLDX) is currently down 0.27 per cent to C$3.69 per share at 12:12pm EDT.
