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Goliat Tibiti Project, Suriname South America

The Goliat Tibiti Project of Harvest Gold Corporation lies in east central Suriname west of the Rosebel Gold Mine of IAMGOLD.  The Tibiti project, Rosebel Gold Mine of IAMGOLD, and the former Saramacca joint venture of Golden Star and Newmont, recently acquired by IAMGOLD, all occur within the same structural and lithologic trend of the eastern greenstone belt of Suriname.  Tibiti has the same structural trends as those associated with gold mineralization at Rosebel based on mapping at Tibiti. 

 

The Tibiti project has the potential to host economic gold mineralization with continued exploration, including drilling, based on the location within this structural and mineralized trend of gold mines and exploration projects.  There is significant small scale mining activity in alluvial sediments which indicates the presence of gold on the concession.  Examination of the gold grains suggests only local transport within the concession boundaries. The concession is at the structural boundary between rocks of the greenstone belt and a package of granitic intrusive rocks and associated felsic and mafic gneisses.  The area has had a history of geologic mapping and gold testing of alluvial drainages by the Geological Survey of Suriname (GMD).  This suggests the gold potential of the concession has been known for some time, but it has not been explored thoroughly.  Both the rocks of the greenstone belt as well as the granitic terrain can host gold mineralization. 

 

The Tibiti exploitation concession consisted of 10,000 hectares located in east central Suriname, South America in the district of Sipaliwini The concession is located approximately 140 kilometers south of Paramaribo, the capital city of Suriname. The concession was converted as an exploitation concession for a period 15 years on April 27, 2015.  A exploitation concession is an asset as it allows mining on the property.

 

A high resolution fixed-wing geophysical survey was flown by Terraquest Ltd in 2011 and the survey was interpreted by Jeremy Brett in 2011 for Cansur. Discrete magnetic lows, 600m to 3900m in scale, are observed that possibly related to alteration and magnetite destruction, which could be related to gold mineralization. A total of 47 of these discrete magnetic lows are identified, clustering in the north and south parts of the Tibiti Block. Several of these lows are either coincident with or proximal to the mapped alluvial gold workings in the NE corner of the Tibiti Block. They also lie at roughly the same elevation as the alluvial workings.  A total of 10 kimberlite targets were identified in the geophysical survey on the original exploration concession.  An intrusive diatreme model has been used for diamond exploration by Canasur.  Some of these targets occur outside of the current exploitation concession boundaries.

 

An auger sampling program started in 2010 collected 6235 samples from 4114 sites. The auger sampling defined at least two large areas of significant anomalous values in gold that merit further exploration by trenching.  Each area is roughly 1000 by 300 meters in size.  Positive results have been received from trenches in the northern area; no trenching has been done in the southern area.  Auger sampling has been very effective at new target generation and further evaluation is planned.

 

Nine 9 trenches with 1132 m in total sampled length have been completed in two phases of trenching in 2012.  From this 691 samples were collected as well as 16 vertical samples, 26 blanks and 22 standards.  The trenching has identified in situ gold mineralization.  Panning of trench material from mineralized zones identified pristine gold showing no evidence of transport.  Panning of small drainages around target has exceptionally high gold counts with evidence of minimal transport. The mineralization appears to be more intrusive related, but there is too little data and fresh saprolite to develop any significant conclusions without more trenching and drilling into hard rock.  

 

Evaluation of this data is in progress by Harvest Gold to develop a 2017 exploration and drilling plan.