Guyana Goldstrike Inc. (GYA.V) recorded first sales of 910 ounces of gold at the Marudi gold project, located in Guyana, South America.
The gold was mined and recovered by local small-scale alluvial or artisanal miners through a corporate social responsibility program and cooperative agreement established by the company. The artisanal miners have been given company-controlled access, with Guyana Goldstrike oversight, to work the alluvial areas (creeks, edges and new channels) of the property and the alluvial tailings that had been previously mined by previous artisanal miners.
A stipulation of the agreement is the requirement that the artisanal miners incorporate only those mining practices acceptable to the Environmental Protection Act of Guyana. Owing to their efforts, the company has successfully poured its first Dore gold bars and sold those bars to the Guyana Gold Board.
Under the terms of the agreement, the artisanal miners pay the company a 10% royalty on all gold mined from the property. In the five months ending March 31, the artisanal miners recovered about 910 oz of gold from mineralized material mined from the property’s alluvial areas and artisanal alluvial tailings. This resulted in 90.9 oz of gold paid to Guyana Goldstrike in royalties.
The Daily Journalist