TORONTO, May 21, 2013 /CNW/ - Guyana Goldfields Inc. ("GGI" or "the Company") (TSX: GUY) is pleased to announce the appointment of Mr. Peter Lello Galassi
("Lello") to the position of Chief Operating Officer ("COO") of the
Company, effective immediately. Mr. Galassi will be based in
Georgetown, Guyana and will be responsible for all daily operations
related to the Aurora Gold Project in Guyana, South America.
Patrick Sheridan, Founder and CEO, states, "The addition of Lello is a
significant milestone in the corporate development of the Company and
substantially strengthens our technical expertise. His disciplined
background and experience in mine development and execution solidifies
GGI's ability to advance the Aurora Gold Project and transfer the
Company from an exploration to a development stage company as we build
the mine. Lello's exceptional track record of designing and building
mines on budget and on time is particularly important for the Company
as we continue to maintain our guidance. We anticipate announcing
additional senior management appointments and changes in the coming
Mr. Galassi has over 15 years of experience in Senior Project Director
roles where he budgeted, implemented, built, commissioned and turned
over large international development projects in Peru, Chile,
Australia, Democratic Republic of the Congo, and Guinea. Mr. Galassi
has an outstanding project track record in delivering safety, cost
effectiveness, and scheduled timelines. He previously worked for Rio
Tinto Iron Ore ("Rio Tinto") as the Senior Project Manager for the
multi-billion dollar Simandou Project in Guinea, West Africa starting
in 2008 where he led brownfield and greenfield expansion projects
ranging from mine to port structures, equipment and systems. In 2010,
Lello was promoted to Project Director, General Manager and led the
feasibility study process, early works program and constructed the
in-country management team for its expansion projects.
Prior to Rio Tinto, Mr. Galassi was the Senior Project Manager of the
Tenke Fungurume Mine in Democratic Republic of the Congo for Freeport
McMoRan from 2004 to 2008. Lello managed the engineering, procurement
and construction of the project, including a new process plant,
housing, support infrastructure, power, roads and airfield access
developments as well as directed numerous international consultants as
the Feasibility Study Manager.
From 1998 to 2004, Lello worked for RAHCO International, Inc. as the
Senior Project Manager for the Morenci Mine and later on became the
Chief Operations Officer, Vice President where he led operations teams
in project management, engineering, manufacturing, purchasing,
shipping, and field service for the development, production and
delivery of large mining equipment for international mining companies.
Mr. Lello Galassi states, "I look forward to this opportunity in joining
senior management and the Aurora project team at this exciting time. My
key focus will be the efficient and safe construction of the project
while achieving ramp-up and operating goals in a way that maximizes the
return to our shareholders and meets our projected milestones on time
and on budget."
Mr. Galassi holds advanced-degrees in Aeronautical and Astronautical
Engineering and is a Level III Senior Project Manager graduate from the
Air Force Institute of Technology and the University of Washington. He
served a 20-year long career in the U.S. Air Force as a senior officer
leading teams in development of military defense systems and leading
Air Force survival, evasion, resistance, and escape training operations
throughout the world.
About Guyana Goldfields Inc.:
Guyana Goldfields Inc. is a Canadian based company, focused on the
exploration and development of gold deposits in Guyana, South America
where the Company has operated since 1996. The Company is focused on
bringing the Aurora Gold Project into production with infrastructure
development currently underway. Active exploration continues at Aurora
and at the Company's Aranka Group of Properties with the intention of
further expanding these resources. Greenfields exploration by our
experienced team of geologists is ongoing in the broader Aranka group
of properties. As at the date hereof, the Company has approximately
C$122 million in cash and cash equivalent and no debt; there are
approximately 126,125,149 shares issued and outstanding.
SOURCE: Guyana Goldfields Inc.
For further information:
Guyana Goldfields Inc.
Patrick Sheridan, Jr
Chief Executive Officer
Vice President, Investor Relations & Corporate Communications
Tel: (416) 628-5936 Ext. 2295
Fax: (416) 628-5935