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TORONTO, Sept. 9 /CNW/ - Guyana Goldfields Inc. (TSX: GUY) ("Guyana" or
the "Company") is pleased to announce the successful completion of its Aurora
Gold Project Analyst Site Visit that took place on August 25th and 26th in
The tour provided the analysts the opportunity to enhance their
understanding of the project, its strategy going forward, and to meet
additional members of the Company's management team, following the on-schedule
completion of a positive NI43-101 compliant Preliminary Assessment ("PA") for
the Aurora Gold Project by AMEC of Oakville, Ontario.
Nine (9) analysts from the following firms participated in the tour:
- BMO Capital Markets
- Cormark Securities
- Dundee Capital Markets
- Haywood Securities
- Laurentian Bank Securities
- Paradigm Capital
- Raymond James
- TD Securities
- Thomas Weisel Partners
Some of the analysts on the tour are formally covering Guyana Goldfields
and have issued update reports subsequent to the site visit.
Details of the site visit
August 25th: Guyana Goldfields staff and senior consultants, from both
Toronto and Georgetown, reviewed the latest Company presentation covering all
aspects of the Aurora Gold Project. Also presenting were the authors of AMEC's
NI 43-101 Resource Estimate and Preliminary Assessment Report ("PA") that was
released on Monday, August 24th. Both of these presentations are available for
viewing on the Company website at www.guygold.com.
August 26th: The group travelled to the Aurora Gold Project for the day
by chartered plane and landed on the existing airstrip at the site. The
analysts received a tour of the camp, core shack, and the three main
mineralized zones of Rory's Knoll, Mad Kiss and Aleck Hill. An on-site
presentation was completed by geologists providing an in-depth review of the
geological cross-sections and development plan.
A dinner was arranged in Georgetown with the Prime Minister of Guyana,
the Honourable Sam Hinds, who is also the Minister of Mines. During his
speech, he declared his support of mining in Guyana and of the Aurora project
Claude F. Lemasson, the President and Chief Operating Officer (COO) of
Guyana, states "We are pleased with the successful completion of the analyst
site visit and the positive feedback and remarks that were received, which
highlighted several avenues for the Company to improve upon project economics.
This sets a clear and solid framework around the highly profitable gold mine
that we plan on building at Aurora."
The critical advancement of the Aurora project during this
pre-development phase will continue with extensive drilling in the few months,
completion of the ESIA in Q4 2009, completion of the Hydropower Feasibility
Study in Q1 2010, the issue of the Permit to build and operate the mine in Q1
2010, as well as the completion of the Definitive Feasibility Study by AMEC in
Guyana Goldfields will be presenting at the following events in September
and would like to invite you to meet management and hear the latest
Rodman & Renshaw Annual Global Investment Conference
Mining and Metals Track
Location: New York Palace Hotel, Room: Holmes II Salon (4th floor)
Date: Thursday, September 10, 2009
Denver Gold Forum
Location: Grand Hyatt Denver, Room B: Pyramid Peak A - Atrium Tower
Date: Tuesday, September 15, 2009
Audio and video webcasts of the presentation will be available on the
Company website late September.
About Guyana Goldfields Inc.
Guyana Goldfields Inc. is a Canadian based mineral exploration company
primarily focused on the exploration and development of gold deposits in
Guyana, South America where the Company has operated since 1996. The Company
is currently undertaking technical studies to advance and develop the Aurora
Project in Guyana. As at the date hereof, the Company has approximately $26
million in cash and short-term bank guaranteed investment certificates and no
For further information:
For further information: Mr. Claude F. Lemasson, President & COO or Ms.
Jacqueline Wagenaar, Director of Investor Relations, Guyana Goldfields Inc.,
Suite 1205-141 Adelaide Street West, Toronto, Ontario, Canada, M5H 3L5, Tel:
(416) 628-5936, Fax: (416) 628-5935, firstname.lastname@example.org, www.guygold.com