Reviewed by Lexie CornerSep 9 2024
Greenheart Gold Inc. provided an update on exploration efforts at its two original gold properties, Majorodam in Suriname and Abuya in Guyana. The Company is also pleased to announce the opening of its website, www.greenheartgold.com, on the first day of trading on the TSX Venture Exchange.
Location of Greenheart Gold projects about the greenstone belts of the Guiana Shield. The location of major deposits (white), past (yellow), and currently active mining operations (red). Image Credit: Greenheart Gold Inc.
Greenheart Gold is an exploration company aiming to build on a successful track record of discovery and mine development in the Guiana Shield. Formed as a spin-off from the merger between G Mining Ventures Corp. and Reunion Gold Corporation on July 15, 2024, Greenheart Gold acquired Reunion Gold's interests in the Majorodam and Abuya gold properties, supported by C$15 million in funding.
The company is led by former executives of Reunion Gold, known for their recent discovery and delineation of the Oko West deposit, the largest gold find in the Guiana Shield. Despite being home to several gold deposits and highly promising geological terrain, the Guiana Shield remains underexplored, which is where Greenheart Gold is focusing its efforts.
The company's goal is to build a robust portfolio of early-stage exploration projects that target the key geological factors believed to have been crucial to the discovery of Oko West. Greenheart Gold is primarily focused on gold prospects in Suriname and Guyana, offering a favorable combination of promising geology and supportive governments. The company is actively pursuing discussions to expand its pipeline of exploration projects.
Majorodam, Suriname
Located in the Marowijne Greenstone Belt, approximately 120 km south of Paramaribo, Suriname, the Majorodam project offers Greenheart Gold the option to acquire a 100% stake. The property, positioned just 2.5 hours south of Paramaribo and adjacent to established highways, provides excellent access for exploration activities.
Greenheart Gold views Majorodam as a highly promising project with favorable geological features, including reactive host rocks, significant regional and property-scale deformation events like polyphase folding, and extensive artisanal gold workings in the drainages downstream from the primary target areas.
The project sits on the southern limb of the same regional fold structure as the Saramacca deposit, which contains 1.1 Moz Au @ 1.9 g/t Au (IAMGOLD 2022 Annual Report). It is located about 12 km from the northern limb. There has been significant historical and ongoing alluvial gold mining in this formation's limbs. Despite its favorable geological setting and accessibility, Majorodam has not been thoroughly explored for primary gold resources using modern techniques.
In 2019, the concession holder completed an aeromagnetic survey, which Greenheart Gold’s exploration team has used to analyze various folding events at the site. The company believes that polyphase deformation events, which contributed to the discovery of the Oko West deposit in Guyana, may also be key to unlocking other deposits in the Guiana Shield.
More details on the Majorodam Project can be found in the Majorodam Technical Report, authored by Ross Sherlock, Ph.D., P.Geo., of Tantalus Geoscience Services Ltd., and available on Greenheart Gold’s website. Preliminary exploration has already begun, including detailed geological mapping and the initial phase of a reconnaissance soil sampling program.
Abuya, Guyana
Located approximately 15 km west of Zijin's productive Aurora Gold Mine, the Abuya project is an early-stage exploration venture in the northwest region of Guyana, near the Cuyuni River. It sits on the western edge of the Aurora batholith and the Devil's Hole Gneiss complex. Greenheart Gold has the option to acquire a 100 % stake in the project, which spans ninety square kilometers and includes twenty permits for medium-scale mining.
Currently, a local prospector is successfully mining alluvial deposits on a small scale. Greenheart Gold collaborates with the prospector by sharing the costs of running the camp and equipment, enabling the company to use its exploration funds efficiently.
The Abuya project meets most of the geological criteria that the Greenheart Gold team believes are key indicators for the presence of Paleoproterozoic gold mineralization in the Guiana Shield.
The Abuya project area, despite its favorable geological setting, has not been explored for primary gold deposits. The only historical reference to the area is from a 1968 report that mentioned early alluvial gold mining efforts. Phase 1 reconnaissance mapping has since confirmed that the geologic environment at Abuya is similar to those at the Aurora and Oko West deposits. The optioned area is characterized by locally sheared and folded volcano-sedimentary rock units near the eastern edge of the gneiss-granite complex.
The Ammamuri granite, which dominates the northwest part of the permits, intrudes along the regional fold axis. This combination of recognized folding and deformation events, reactive host rocks, and the rheological differences between nearby rock strata creates a potentially favorable environment for gold mineralization.
After just three weeks of fieldwork, Greenheart has already completed a phase 1 reconnaissance mapping and soil sampling program at Abuya, with results still pending.