Gold Fever replied the topic: Marudi Deposits are iron-formation-hosted gold (“IFG”)
Gold mineralization at the Marudi Property is regarded as being related to iron-formation-hosted gold (“IFG”) deposits that occur in other cratonic greenstone belts (e.g. Lupin, Musselwhite, in Canada, and Homestake in the western U.S.)
These deposits can be remarkably long- lived with sizeable gold production (e.g. +/- 115 years, 65 M ozs Au).
They have a strong association between gold and iron sulfide minerals, the presence of gold bearing quartz veins and structures, the occurrence of deposits in structurally complex terranes, and the lack of lead and zinc enrichment.
In stratiform IFG deposits much of the gold is uniformly disseminated in stratigraphically continuous horizons in well-laminated units of cherty, sulfide-rich BIF that are conformably interlayered with gold and sulfide poor BIF and clastic sedimentary rocks. Iron sulfide minerals are deformed and metamorphosed but oxide BIF is lacking. Late quartz veins or shear zones are volumetrically significant but their control on gold and iron-sulfide is unclear. Arsenic bearing minerals, if present are generally restricted to alteration zones immediately proximal to late quartz veins.
World examples include Lupin, in Canada, Homestake in North Dakota (US), and Morro Vehho and Cuiabá in Brazil.
The strataform gold horizons at Marudi are genetically different from gold deposits and occurrences within the Guiana Shield in northern Guyana that have formed in structural (orogenic) belts in successive back-arc closure and extensional oceanic arc systems caused by migrating spreading ridges.
These deposits form along convergent margins during terrane accretion, translation, or collision, related to plate subduction and/or lithospheric delamination. Brittle faults define conjugate patterns that are either trending north-northwest–south-southeast or north-northeast–south-southwest. Paleo-reconstructions indicate a similar pattern in West Africa.
In West Africa the controlling structural trend is northeast-southwest. When compared at a regional scale, shear patterns of West Africa and those of the Guiana Shield appear to define a nearly conjugate pattern.
The Homestake Mine was a deep underground gold mine located in, South Dakota.
Until it closed in 2002 it was the largest and deepest gold mine in North America.
The mine produced more than forty million troy ounces (43,900,000 oz; 1,240,000 kg) of gold during its lifetime.
The gold ore mined at Homestake was considered low grade (less than one ounce per ton), but the body of ore was very large. Through 2001, the mine produced 39,800,000 troy ounces (43,700,000 oz; 1,240,000 kg) of gold and 9,000,000 troy ounces (9,870,000 oz; 280,000 kg) of silver. In terms of total production, the Lead mining district, of which the Homestake mine is the only producer, was the second-largest gold producer in the United States, after the Carlin district in Nevada.
The mine has estimated reserves of 2.29 million ounces.
Location Opapamiskan Lake, Ontario
Type of Mine Underground
Processing Method Carbon in pulp recovery, cyanide certified
Milling/Processing Capacity 4,500 tonnes per day
Power Demand 25 megawatts
Number of Employees & Contractors 749
Gold Production (guidance for 2018)
AISC (guidance for 2018)
$775 per ounce
Gold Reserves (proven and probable) 1.85 million ounces
Gold Resources (measured and indicated) 310,000 ounces
Gold Resources (inferred) 1.17 million ounces
A fly-in, fly-out operation located approximately 500 kilometres north of Thunder Bay, Canada, Musselwhite has produced over 4 million ounces of gold since achieving commercial production in April 1997.
Musselwhite’s ore is mined from two main zones below Lake Opapimiskan. Ore is processed onsite using a circuit that includes crushing, grinding, leaching by cyanidation, carbon in pulp recovery and electrowinning. Gold recoveries are 96%.
Lupin Mine was a gold mine in Nunavut Territory, Canada.
It opened in 1982 and was originally owned and operated by Echo Bay Mines Limited, who in 2003 became a fully owned subsidiary of Kinross Gold Corporation.
Echo Bay Mines Ltd. brought the mine into commercial production in 1982
Lupin Gold Mine produced approximately 3 million ounces of gold.
Gold Fever replied the topic: News - ANNOUNCES $3.2 MILLION STRATEGIC INVESTMENT
Yes Gambler you are half correct.
Guyana Goldstrike has 2 funds that are part of the Zijin Group investing $3.2M.
The Zijin Global Fund and Zijin Midas Exploration Fund LLC.
fyi, Jaxon news below
"Vancouver, British Columbia--(Newsfile Corp. - October 26, 2017) - Jaxon Mining Inc. (TSXV: JAX) (FSE: OU31) is pleased to announce it has arranged a strategic investment from the Zijin Midas Exploration Fund, a subsidiary of Zijin Mining Group Co. Ltd. of China, and certain other investors, of up to 5,625,000 flow-through shares at a price of $0.32 per share for gross proceeds of $1.8 million."
Zijin Mining Group Company Limited was founded in 1986 and is a large-scale mining group headquartered in Shanghang County, Fujian Province, PRC.
It is the largest gold producer, the second largest copper producer, and a significant zinc, tungsten and iron ore producer in China.
The company trades on the Shanghai and Hong Kong stock exchanges and has a market capitalization of over US$9 billion. As of 2016 it held over US$12 billion in assets.
Zijin engages in the exploration, mining, processing, refining, production, the sale of gold, and other non-ferrous metals in Mainland China.
It primarily produces gold bullion; gold, copper, zinc, tungsten, lead, and iron concentrates; and copper cathodes, zinc bullion, vitriol, copper plate, silver, and tin.
Zijin has an extensive product portfolio of gold, copper, lead and zinc, tungsten, iron ore and other base metals and has interests and investments in 24 provinces across China and 9 ( now 10 with Guyana) foreign countries.
Zijin owns the Global Fund and the Zijin Midas Exploration fun. These funds are funded and operated by Zijin. Both funds have a mandate of investing in both production and exploration stage mining projects of exceptional merits worldwide.
In December 2017 Zijin − through its subsidiary, Gold Mountains (H.K.) International Mining Company Limited – completed a US$412 million investment for a 49.5% interest in Ivanhoe Mines’ Kamoa copper project in the Congo in western Africa.
In October 2017 Zijin and the Sprott Group of Companies made a $C6 million strategic investment into Skeena Resources for the development of the past-producing Snip mine in northwest BC, Canada
In May 2015 Zijin invested C$80 Million in Pretium Resources for the development into its Brucejack Project located in BC, Canada.
In 2014 Zijin acquired 50 per cent stake in the Porgera mine in Papua New Guinea through Barrick Gold Corp.’s Barrick (Niugini) Ltd.
According to Zijin its goal is to evolve into an international mining giant utilizing high-technology, and efficient and profitable operations. It adopted a “Three-Step Strategy”, first to be one of China’s top gold producers which it achieved in 2005, second to be a leader in the domestic mining industry achieved in 2009, and finally, to join the other first class global mining giants by 2020.