History Of The Gross Rosebel Gold Project In Suriname

The Gross Rosebel gold deposits are located in theGuiana Shield of northcentral Suriname in South America. The property lies 80 km (50 miles) south of the capital city of Paramaribo. Gross Rosebel covers 170 km2 (65 sq miles) in an area of small hills covered primarily with secondary tropical rain forest, separated by discontinuous savannah (Fig. 1). The concession is accessible from Paramaribo by a 120-km (75-mile) paved and all-weather gravel road. Surficial gold was discovered in 1880 by local artisanal miners. This was followed by small-scale mechanized mining from 1885 to 1939. Placer Development carried out the first systematic exploration program from 1974 to 1977. In May 1992, Golden Star Resources optioned the property. Initial shallow reconnaissance diamond drilling of the extensive surface geochemical anomalies intersected sporadic gold mineralization with no apparent continuity between drill sections. Successive deep augering, trenching and systematic grid drilling, based on information from surface mapping, allowed the development of a preliminary geological model. Further drilling of specific structural-lithologic targets and more complete synthesis of geological data from the trenching and deep auger sampling added to the geological model and defined the multiple controls of gold mineralization. Carefully planned infill drilling on a tighter grid spacing resulted in progressive definition of reserves within six discrete gold deposits. Reserves based on $11.25/g ($350/oz) gold now stand at 35.5 Mt (39.1 million st) of 1.8 g/t (0.053 oz/st) gold, or 62.2 t (2 million oz) of gold.