– prospecting of lithium on the horizon
The First quarter gold declaration is along projected lines to achieve a record 700,000 ounces targeted for 2017.
This disclosure has been made by Minister of Natural Resources, Raphael Trotman, during a recent presentation of the work his Ministry. According to Minister Trotman 163,000 ounces of gold has been declared for the first quarter of this year.
Minister Trotman said that the 2017 budget has set the target of 694,000 ounces of gold, but the Ministry is aiming for 700,000 ounces.
Last year’s unprecedented declaration earned the country USD$730,915,229. The country recorded the highest gold declaration with 641,668 ounces, 16.6 percent above its target. Small and medium-scale miners accounted for 429,188 ounces while Guyana Goldfields and Troy Resources, large gold mining operations, contributed 145,236 ounces and 67,244 ounces respectively.
The Guyana Gold Board recorded 451,490 ounces of gold in 2015, surpassing the 380,000 ounces target.
The foregoing was information that was disseminated by the Government Information Agency [GINA].
Meanwhile, Trotman was quoted as saying that a survey is currently being done to “get a better sense of what exactly we have.”
Last year, a permit was given to a Canadian company for prospecting of lithium. “That company has started doing some drilling and has seen signs of lithium. I believe they are now in the process of looking for financiers to go further,” the Minister explained.
The Canadian based company, Guyana Strategic Metals (GSM) Incorporated is operating in Region Seven, Minister Trotman said. GSM earlier this year signed an agreement with an Australian company, Greenpower Energy to acquire interests in the exploration.
In the coming months, Greenpower Energy is expected to carry out an airborne geophysical survey to focus on the follow-up work.
Lithium is said to be the lightest known metal and is commonly used to make rechargeable batteries such as those found in cell phones. The metal was said to be discovered some five years ago in Guyana.