Tamakay Project

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The Tamakay project is located approximately 300 km west of Georgetown, Guyana, and about 20 km west of Aris Mining Corporation’s Toroparu project (Measured & Indicated resource of 5.4 million (“Moz”) of gold (“Au”) with an additional Inferred resource of 1.2 Moz Au). The Tamakay project is accessible through a combination of boat travel up the Mazaruni River and then via vehicle from Tamakay Landing to the project site (see Figure 1). Gold was first noted on the property in 1937 and small-scale mining activities began shortly thereafter, aimed at mining the exposed quartz veins within the granites, near their contact with the volcanics. Subsequent prospecting activity in 1953 and 1954 was focused mainly on the gold within the adjacent alluvial material, and this alluvial mining activity, which is shown outlined in yellow on Figure 1, continues to the present day. Despite the historic and current mining activity at Tamakay, there is no record of any “modern” exploration having been carried out on the project to investigate the extent of the gold-bearing quartz veins or to uncover additional potential hard rock sources of the gold found in the alluvial material. 

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Geologically, the project area is underlain by granitic rock units to the northeast and metavolcanics and metasediments to the southwest, with the contact running diagonally from the northwest to the southeast through the center of the project area (Figure 1 and Figure 2). Quartz vein samples from outcrops exposed within areas of recent artisanal mining activities, which are located within the granite terrain and just north of the contact, returned several high-grade assays including 969 g/t Au, 213 g/t Au and 144 g/t Au. The Company’s current interpretation is that the quartz veining is associated with multiple splays that are derived from the main shear zone separating the volcanic and granitic domains.

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In advance of completing the option agreements, Greenheart Gold carried out some preliminary exploration work, including geologic mapping, soil sampling and prospecting. From this work, several areas with anomalous grab and soil samples within the granites were identified, as well as a significantly sized soil anomaly within the volcanic rock units, which extends approximately 1,500 m by 750 m as shown in Figure 2. Follow-up work planned for Tamakay includes trenching over these anomalous areas to determine the extent of gold-bearing quartz veins across the stratigraphy, as well as testing for any potential pervasively mineralized zones within the volcanics.