ni 43-101 report on the aurora project guyana 2005 ...cargill consulting geologists limited...

NI 43-101 REPORT ON THE AURORA PROJECT GUYANA 2005

PREPARED FOR GUYANA GOLDFIELDS INC.

DECEMBER 30, 2005D. GEORGE CARGILL, PH.D., P.ENG.

CONSULTING GEOLOGICAL ENGINEERCargill Consulting Geologists Limited

Suite 501, 55 University Ave.,Toronto, ON M5J 2H7 Canada

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TABLE OF CONTENTS

PAGE

SUMMARY........................................................................................................................ 1Executive Summary ...................................................................................................... 1

Interpretation and Conclusions ............................................................................... 1 Recommendations................................................................................................... 4

Technical Summary ...................................................................................................... 7 Introduction and Terms of Reference ..................................................................... 7 Property Discription and Location.......................................................................... 7 Accessibility, Climate, Local Resources, Infrastructure and Physiography........... 7 History..................................................................................................................... 8 Geological Setting................................................................................................. 10 Local Geology....................................................................................................... 11 Property Geology.................................................................................................. 11 Deposit Types ....................................................................................................... 11 Mineralization ....................................................................................................... 12 Exploration............................................................................................................ 16 Drilling.................................................................................................................. 17 Sampling Method and Approach .......................................................................... 18 Sample Preparation, Analyses and Security ......................................................... 19 Data Verification................................................................................................... 19 Adjacent Properties............................................................................................... 21 Mineral Processing and Metallurgical Testing ..................................................... 22 Mineral Resource and Reserve Estimates............................................................. 22 Other Relevant Data and Information................................................................... 22 Interpretation and Conclusions ............................................................................. 22 Recommendations................................................................................................. 25

INTRODUCTION AND TERMS OF REFERENCE ...................................................... 31

RELIANCE ON OTHER EXPERTS ............................................................................... 31

PROPERTY DESCRIPTION AND LOCATION............................................................ 34 Environmental Considerations.................................................................................... 36

ACCESSIBILITY, CLIMATE, LOCAL RESOURCES, INFRASTRUCTURE AND PHYSIOGRAPHY............................................................................................................ 38

HISTORY ......................................................................................................................... 39 2004- 2005 Program ................................................................................................... 40

Reconnaissnce Program........................................................................................ 41 Followup program................................................................................................. 41

Expenditures ............................................................................................................... 42

GEOLOGICAL SETTING ............................................................................................... 43

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Regional Geology ....................................................................................................... 43 Local Geology............................................................................................................. 44 Property Geology........................................................................................................ 44

DEPOSIT TYPES............................................................................................................. 48

MINERALIZATION ........................................................................................................ 52 Rory’s knoll ................................................................................................................ 52 Aleck Hill.................................................................................................................... 64East Walcott Hill......................................................................................................... 72 West Mad Kiss............................................................................................................ 74 Walcott Hill................................................................................................................. 76South Mad Kiss........................................................................................................... 80 Mad Kiss ..................................................................................................................... 81North Aleck Hill ......................................................................................................... 88 Powis Hill.................................................................................................................... 91Haimaralli ................................................................................................................... 94Marupa ........................................................................................................................ 959,500 N Zone .............................................................................................................. 98 Felice Zone.................................................................................................................. 98Swamp Zone ............................................................................................................... 99 2,400 South Anomaly ................................................................................................. 99

EXPLORATION............................................................................................................... 99 Reconnaisance Program.............................................................................................. 99

Airborne Survey.................................................................................................... 99 Geochemical Survey ........................................................................................... 106 Southeast Reconnaissance Area.......................................................................... 106

Follow-up Exploration.............................................................................................. 108 Gold Creek Area ................................................................................................. 108 Caleb Area .......................................................................................................... 108 Wildcat (#1 Area) ............................................................................................... 108 Anomalies 4 and 28 ............................................................................................ 108

DRILLING...................................................................................................................... 110

SAMPLING METHOD AND APPROACH.................................................................. 116 Geochemical Sampling ............................................................................................. 116

Steam Silts .......................................................................................................... 116 Grab Samples ...................................................................................................... 117 Shallow Auger Samples...................................................................................... 117 Deep Auger Samples........................................................................................... 117

Trenching .................................................................................................................. 117 Diamond Drilling ...................................................................................................... 117

SAMPLE PREPARATION, ANALYSES AND SECURITY ....................................... 118

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DATA VERIFICATION ................................................................................................ 118

ADJACENT PROPERTIES ........................................................................................... 121

MINERAL PROCESSING AND METALLURGICAL TESTING .............................. 121

MINERAL RESOURCE AND MINERAL RESERVE ESTIMATES.......................... 124

OTHER RELEVANT DATA AND INFORMATION .................................................. 124

INTERPRETATION AND CONCLUSIONS................................................................ 124

RECOMMENDATIONS................................................................................................ 127 Phase One.................................................................................................................. 127 Phase Two................................................................................................................. 129

REFERENCES ............................................................................................................... 132

SIGNATURE PAGE ...................................................................................................... 136

CERTIFICATE OF QUALIFICATIONS....................................................................... 137 D. George Cargill...................................................................................................... 137

APPENDIX 1 TITLE INFORMATION.......................................................................... 1-1 Prospecting License No. 1 ......................................................................................... 1-1 Prospecting License No. 2 ......................................................................................... 1-1 Prospecting License No. 3 ......................................................................................... 1-1 Prospecting license No.4............................................................................................ 1-1 Prospecting license No.5............................................................................................ 1-1 Copy of the Publication of the Granting of the Five Prospecting Licenses............... 1-1

APPENDIX 2 ASSAY PROTOCOLS ............................................................................ 2-1

A.) ASSAY PROTOCOLS FOR LORING LABORATORIES (GUYANA) LTD....... 2-1 B.) SGS Assay Protocals........................................................................................... 2-4

FA305 – Lead Collection/Fire Assay Gravimetric Finish For Gold.................... 2-4 Elements and Reporting Limits ........................................................................... 2-5 WPR-1.................................................................................................................. 2-5 WMG-1................................................................................................................ 2-5 FA30G –Lead Collection/Fire Assay Gravimetric Finish for Gold..................... 2-6 Element and Reporting Limits ............................................................................. 2-6

APPENDIX 3 GEOPHYSICAL SURVEY..................................................................... 3-1 Terraquest Aeromagnetic/Spectrometer Survey B-146 for Guyana Goldfields ........ 3-1

Terraquest Aeromagnetic/Spectrometer Survey B-146 for Guyana Goldfields Inc. March 11, 2005 .................................................................................................... 3-1 Aurora/Sand Creek/Akaiwong/ Project, Guyana Geosoft Format Final Archive 3-1

APPENDIX 4 DRILLING INFORMATION.................................................................. 4-1 Sample Drill Log for Alex Hill Saprolite Program SPD-25 ...................................... 4-1 Sample Drill Log for Rory’s Knoll Bedrock Program RKD-34................................ 4-1

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LIST OF TABLES

PAGEProposed Exploration.......................................................................................................... 3Proposed Exploration Program........................................................................................... 6 Summary of Follow-Up Work Done in 2004-2005 Program ............................................. 9 Expenditures October 1, 2004 – September 30, 2005 ...................................................... 10 Diamond Drilling Summary for 2004 – 2005 Program.................................................... 18 Quarter Core Samples - Check Assays ............................................................................. 20 Pulp Samples - Check Assays........................................................................................... 20 Proposed Exploration........................................................................................................ 24 Proposed Exploration Program......................................................................................... 28 Table 1 Prospecting Licenses for the Aurora Property ................................................ 35 Table 2 Exploration History 1911 -2003 for the Aurora Property............................... 40 Table 3 Summary of Follow-up Work Done in 2004-2005 Program.......................... 41 Table 4 Expenditures October 1, 2004 – September 30, 2005 .................................... 43 Table 5 Gold Mineralization Characteristics ............................................................... 49 Table 6 Summary of Drilling Program at Rory’s Knoll 2004-2005 ............................ 58 Table 7 Significant Intersections(1) Rory’s Knoll 2004-2005 ...................................... 59 Table 8 Rock Drilling Program Aleck Hill 2004-2005................................................ 64 Table 9 Saprolite Drilling Program Aleck Hill 2004-2005.......................................... 69 Table 10 Significant(1) Drill (2004-2005) Rock Intersections Aleck Hill ................... 70 Table 11 Significant(1) drill (2004-2005) Saprolite Intersections Aleck Hill............... 71 Table 12 East Walcott Drill Program 2004-2005 ........................................................ 73 Table 13 Significant(1) Intersections East Walcott Drill Program................................ 73 Table 14 Walcott Drilling Program 2004-2005 ........................................................... 79 Table 15 Significant(1) Drill Intersections Walcott 2004-2005.................................... 79 Table 16 South Mad Kiss Drilling Program 2004-2005.............................................. 80 Table 17 Significant(1) Drill Intersections West Mad Kiss 2004-2005........................ 81 Table 18 Mad Kiss 2004-2005 Drilling Program ........................................................ 82 Table 19 Significant(1) Intersections Mad Kiss 2004-2005 Drilling Program ............. 87 Table 20 North Aleck Hill 2004-2005 Drilling Program............................................. 88 Table 21 Significant(1) Drill Intersections North Aleck Hill........................................ 91 Table 22 9500 N Zone 2004-2005 Drilling Program................................................... 98 Table 23 Significant Drill Intersections KRD-1 Zone ................................................. 98 Table 24 Blocks Airborne Survey (Spector 2005)..................................................... 100 Table 25 Airborne Geophysical Targets .................................................................... 102 Table 26 Summary of Follow-up Work Done in 2004-2005 Program...................... 109 Table 27 Drilling Results 2004 – 2005 Program ....................................................... 110 Table 28 Quarter Core Samples - Check Assays ....................................................... 119 Table 29 Pulp Samples - Check Assays..................................................................... 119 Table 30 Metallurgical Samples ................................................................................ 121 Table 31 Results of Preliminary Metallurgical Tests................................................. 123 Table 32 Proposed Exploration.................................................................................. 126 Table 33 Proposed Exploration Program................................................................... 129

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LIST OF FIGURES

PAGEFigure 1 Location and Access ....................................................................................... 33 Figure 2 Aurora Property – Land Status ....................................................................... 37 Figure 3 Regional Geology and Mineral Deposits........................................................ 45 Figure 4 Property Geology............................................................................................ 46 Figure 5 Styles of Gold Mineralization in a Typical Western Pacific ............................. Porphyry System............................................................................................. 51 Figure 6 Rory’s Knoll Drill Plan................................................................................... 53 Figure 7 Rory’s Knoll Cross Section 9,950 N............................................................... 54 Figure 8 Rory’s Knoll Cross Section 10,050 N............................................................. 55 Figure 9 Rory’s Knoll Longitudinal Section 10,750 E ................................................. 56 Figure 10 Aleck Hill – Plan........................................................................................... 66 Figure 11 Aleck Hill – Cross Section 10,000 N............................................................ 67 Figure 12 Aleck Hill - Longitudinal Section 9,800 E ................................................... 68 Figure 13 West Mad Kiss Plan...................................................................................... 75 Figure 14 Walcott Hill Plan........................................................................................... 77 Figure 15 Walcott Hill Cross Section 10,075 N............................................................ 78 Figure 16 South Mad Kiss Drill Plan ............................................................................ 83 Figure 17 Mad Kiss Plan ............................................................................................... 84 Figure 18 Mad Kiss Cross Section................................................................................ 85 Figure 19 Mad Kiss Longitudinal Section .................................................................... 86 Figure 20 Aleck Hill North Plan of Mineralized Zone ................................................. 89 Figure 21 Aleck Hill North Cross Section 10,500 N .................................................... 90 Figure 22 Powis Hill Prospect Auger Soil Krigged Average Gold Values................... 92 Figure 23 Powis Hill Prospect Auger Drilling - Soil Average Gold Values................. 93 Figure 24 Haimaralli Falls Area.................................................................................... 96 Figure 25 Marupa Prospect ........................................................................................... 97 Figure 26 Geophysical Anomalies from Airborne Survey.......................................... 101 Figure 27 Regional Geochemical Anomalies.............................................................. 107

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SUMMARY

EXECUTIVE SUMMARY

Cargill Consulting Geologists Limited (Cargill) was retained by Guyana Goldfields Inc. (Guyana Goldfields) to prepare an independent technical report discussing the wholly-owned Aurora Property, which is a gold property in Guyana about 175 km west of Georgetown. This report is required to update a report on this property prepared by Cargill (2003). It is prepared to conform to National Instrument (NI) 43-101, companion policy NI 43-101CP, and Form NI 43-101F1.

INTERPRETATION AND CONCLUSIONS

! The property is in the Cuyuni greenstone belt of Proterozoic (2.5-1.95 Ga) age in the Amazon Craton. It consists of a number of gold deposits on the eastern side of the Aurora zoned intrusion.

! Regional geological mapping shows the Aurora intrusion as granodiorite with diorite and gabbro phases. The airborne radiometric survey outlines the intrusion on the potassium radiometric channel. The total count channel shows a strong anomaly, along the eastern boundary of the granodiorite which crosses into the volcanic rocks near the Aurora camp. This anomaly could be caused by a phase of the intrusion or by alteration related to a superimposed structure.

! The aeromagnetic survey shows a belt of higher magnetic relief about 4 km wide along the eastern and northern contact of the Aurora intrusion. Although it appears to be outside the surface contact of the granodiorite, it is spatially related to the intrusion.

! Gold was produced from underground operations at Aleck Hill and the Mad Kiss Mines between 1940 and 1948 and the gold deposits were interpreted as fracture controlled, mesothermal veins. The gold veins are accompanied by ankeritization, pyritization and sericitization of the wall rocks. Where the gold veins are closely spaced, gold values approach commercial values.

! At the new Rory’s Knoll deposit, gold is associated with disseminated pyrite and silicification in a zone of narrow dykes cutting an assemblage of finely- bedded/foliated volcanic flows, tuffs, and associated sediments. The field name for this zone is “Dacite Tuff: Rory’s Knoll is completely different from the other known occurrences and provides a large volume of lower grade material.

! Currently data suggests the gold is associated with a high level, QFP phase of the Aurora intrusion. This phase, which is on the east side of the Aurora intrusion, is coarse grained and has a strong radiometric (total count) signature. Similar QFP

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dykes have been described from trenches, adits and drill holes in most of the known gold occurrences on the property.

! The gold occurrences are also associated with fracturing, crackling, quartz veins and stockworks which could result from QFP intrusions. Wall rock alteration related to the gold mineralization includes carbonatization, sericitization and silicification. The sericite and silica are common features of high-level intrusives. The carbonatization is a common feature in greenstone hosted gold deposits of Precambrian age.

! The various gold deposits on the property may represent different levels in a large intrusive/hydrothermal system. Since they are all at essentially the same topographic level the system must be vertically telescoped.

! Historic exploration on this property was directed toward high-grade gold mineralization in mesothermal quartz veins. The discovery of the Rory’s Knoll occurrence has changed the exploration focus to large volume concentrations of lower gold values.

The gold occurrences on the Aurora Property can be divided into three groups on the basis of the amount of exploration information. The best known, are in the Central Aurora Area near the Aurora Mine and include Aleck Hill, Mad Kiss, South Mad Kiss, West Mad Kiss, Walcott Hill, East Walcott Hill, North Aleck Hill and Rory’s Knoll. In each of these areas gold has been found in surface trenches, underground adits and cross-cuts and diamond drill holes.

The next three targets are Powis Hill, Haimaralli and Marupa where there are defined drill targets. The final five areas, North River, 9500 N Zone, Felice Zone, and 2400 South Anomaly, have much less information.

Cargill has summarized the work to date and the proposed exploration approach for each of the targets in the following table.

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PROPOSED EXPLORATION Aurora Project Guyana Goldfields Inc.

Information

Level Mineral

Occurrence Nature Of Deposit

Work To Date Planned Work

High Rory*s Knoll Disseminated gold with pyrite in a highly altered shear zone with narrow dykes

Drill holes Deep drill holes Fill in shallow drilling

Aleck Hill Mesothermal veins in a north trending shear zone

Adits Rock drill holes Saprolite drill holes

No planned work

Mad Kiss Quartz vein stockworks associated with an east trending QFP dyke

Old working Denison drill holes Trenches Drill holes

Integrate data IP and magnetics

North Aleck Hill Quartz veins in a north trending shear zone

Trenches Drill Holes

IP and magnetics

W. Mad Kiss Quartz veins in two north trending shear zones

Adits Denison drill holes

IP and magnetics Drilling

Walcott Hill Trenches Denison drill holes Guyana Goldfields Drill Holes


East Walcott Hill Quartz veins in north trending shear zone

Old Trenches Denison drill holes Drill Holes

Integrate data Shallow drilling

South Mad Kiss Quartz veins in north trending shear zone

Denison rock drill holes Guyana Goldfields saprolite drill holes

Auger geochemical survey IP and magnetics

Powis Hill Old trenches re-sampled

Haimaralli Old geophysical geochemical work UN drill holes Auger soil survey

IP and magnetics Drill holes

Marupa Auger soil survey IP and magnetics

North River Stream silts IP and magnetics

9500 N Zone Soil geochemistry IP and magnetics

Felice Zone Soil geochemistry No planned work

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Information

Level Mineral



Swamp Zone Soil geochemistry No planned work

2400 South Anomaly

Auger soil geochemistry

IP and magnetics

Low

Cargill considers the Aurora Property mentioned above a very favourable geological environment for gold mineralization. Exploration in the Aurora Mine area in the 1940s defined six mineral occurrences with significant gold values in mesothermal quartz vein environments. The discovery of Rory’s Knoll occurrence by Guyana Goldfields in 2004 has identified a new favourable bulk tonnage target close to the original Aurora occurrences.

RECOMMENDATIONS

Cargill considers the Aurora Property is of sufficient merit to justify the exploration program recommended below.

PHASE ONE

1. At present the information from the Guyana Goldfields drilling program is extremely well organized. However, the drilling data from previous operators, the data from other types of exploration, such as soil sampling and rock sampling, and data acquired from Denison and other previous operators, are not. Getting all the data into a useable digital data base is critically important.

Integrate the different types of information: geology, airborne and ground geophysics, silt and auger geochemical sampling, drilling data, thin section data and known mineral occurrences, into a geological model.

2. Implement the recommendations from the review of the QA/ QC procedures (Bloom, 2006). They are:

! Each laboratory work order should be checked for acceptable blank and reference materials (RM) assays on receipt.

! All eight of the failures for blanks should be investigated and new pulps prepared from the stored rejects to be assayed.

! Procedures for inserting QC materials and recording data should be reviewed to minimize the number of mislabelled QC samples.

! Sample pulps from ten samples before and ten samples after each of the 84 QC failures should be re-assayed.

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! The variance between the quoted detection limit of 5 ppb Au and the variations in assays for RMs with values in the range of 49 to 91 ppb Au should be discussed with the laboratory.

! Additional RMs should be added to the program to cover the concentration between 0.10 g/t and 1.4 g/t Au.

! Routine pulp duplicate data should be compiled and reviewed to determine the reproducibility of pulps for all samples.

! It is necessary to assay ½ the core as the original sample and subsequently to test the entire second ½ of the core to determine if the core is preferentially sampled.

! Gold check assays at a secondary laboratory are recommended on pulps for 5% of the total samples.

3. Much of the property has been explored with geochemistry. Many geochemical surveys have demonstrated that silt geochemistry followed up by auger soil-geochemistry is an effective approach to geochemical exploration. Therefore the next step is to develop geophysical exploration tools to complement the geochemical work and to explore in places where geochemistry does not work. A good example is the areas along the Cuyuni River covered by alluvial deposits.

4. The nature of the sulphide mineralization in the drill core from Rory’s Knoll and Aleck Hill suggests IP should be a satisfactory direct geophysical tool. However, Cargill recommends testing a series of different geophysical methods including, magnetics, radiometrics, EM and IP to see which instrument or combination of instruments gives the most complete information. The best approach would be to conduct orientation surveys at Rory’s Knoll and Aleck Hill, where Guyana Goldfields has the most drilling information.

5. When a satisfactory group of geophysical methods are established, they can be used to: a.) define specific drill targets in broad geochemical (auger drilling) anomalies such as those at Haimaralli and Marupa; b.) test areas where geochemical surveys do not work, such as areas where there are thick deposits of alluvial sediments along the Cuyuni River; and c.) explore the Central Aurora area at depth to establish whether there is any mineralization between the known surface showings.

6. Expand the preliminary metallurgical study to gather information necessary for the design of an extraction process.

7. Continue the environmental study to obtain the baseline environmental information on the area. It is necessary to carry out a study that satisfies the international authorities as well as those in Guyana.

8. Carry out an infill-drilling program at Rory’s Knoll and Aleck Hill to ensure the data points for the initial resource estimate are evenly distributed.

9. Prepare a resource estimate for the Rory’s Knoll and Aleck Hill deposits.

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10. Drilling to establish what is happening at depth on the smaller zones. At the present time the only deep information is from Rory’s Knoll and Aleck Hill. The drilling of the other zones has only tested very shallow parts of the mineralized systems.

11. Drill test new geochemical/geophysical targets at Haimarali, Marupa, River Flats and Powis Hill.

PHASE TWO

Phase Two is not contingent on the results of Phase One.

1. Diamond drilling of closely spaced drill holes to increase the confidence level in the mineralized resources estimated in Phase One at Rory’s Knoll and Aurora.

2. Diamond drilling to develop resources at two areas, or more, drilled in Phase One.

3. A full scale, environmental impact study on mine development in the Rory’s Knoll/Aleck Hill Area carried out to international standards.

4. Detailed metallurgical testing for material from the Rory’s Knoll/Aleck Hill as a basis for designing a flow sheet.

5. A resource estimate at a high level of confidence for the Rory’s Knoll/Aleck Hill area as a basis for a reserve estimate.

6. A preliminary mining study for the Rory’s Knoll/Aleck Hill area as the basis for a pre-feasibility study.

Cargill’s proposed program is set out in the following table.

PROPOSED EXPLORATION PROGRAM Aurora Project Guyana Goldfields Inc.

Program Can$

Phase One $5,076,500

Phase Two Total $5,929,000

Total $11,005,500

Notes. 1. Numbers are rounded 2. Exchange rate is CanW1XU.S.W0.75

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TECHNICAL SUMMARY

INTRODUCTION AND TERMS OF REFERENCE

Cargill Consulting Geologists Limited (Cargill) was retained by Guyana Goldfields Inc. (Guyana Goldfields) to prepare an independent technical report discussing the wholly-owned Aurora Property, which is a gold property in Guyana about 175 km west of Georgetown. This report is required to update a report on this property prepared by Cargill (2003). It is prepared to conform to National Instrument (NI) 43-101, companion policy NI 43-101CP, and Form NI 43-101F1.

PROPERTY DISCRIPTION AND LOCATION

The original property was a prospecting license covering an area of approximately 6,500 ha and centered at 59º 45’ W and 5º 45’ N. Five new prospecting licenses have been added to the property and the current area of the six contiguous gold properties of the Aurora Project is 27,741 ha. The properties have not been legally surveyed, nor is there any requirement for a legal survey. There are no known environmental liabilities associated with the property. Guyana Goldfields have retained Ground Structures Engineering Consultants Inc. of Georgetown to initiate a preliminary environmental survey which will assemble baseline data for the physical environment, biological environment and socio-cultural environment.

ACCESSIBILITY, CLIMATE, LOCAL RESOURCES, INFRASTRUCTURE AND PHYSIOGRAPHY

The quickest access is by helicopter or float aircraft from Georgetown to the Cuyuni River, adjacent to Aurora. The usual access is by road from Georgetown to Parika, then by boat up the Essequibo River to Bartica, by truck to a landing on the Cuyuni River, and up the Cuyuni River to Aurora. This trip requires from one day to one week depending on water level and the size and nature of the boat.

There are two logging roads, one on each side of the Cuyuni River, that approach the property. To connect the existing logging roads to the Aurora Property would require building about 40 km of road from the northern road, or about 50 km from the southern road.

The climate is humid tropical with an annual rainfall of more than 250 cm. The usual seasons are:

Long rainy season Mid April to mid August Long dry season Mid August to mid November Short rainy season Mid November to the end of January Short dry season February to mid April

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There has been a great deal of placer activity along the Cuyuni River. At present, most placer mining is done with dredges but there is still some hand mining by local prospectors for placer and eluvial deposits.

The nearest supply center is at Bartica, about 195 km down river from Aurora, but all major items must be obtained from Georgetown.

The area is of generally low relief with small hills near the river. Several large creeks drain into the Cuyuni River and there are large swampy areas. The entire property is covered with dense rainforest. Near the river are a series of river flats about 400 m wide that are flooded during the rainy seasons when the river rises 6 m or 7 m.

HISTORY

There has been a significant amount of work on the Aurora project area, although much of the older work is poorly documented. Work prior to 2003 was summarized in Cargill (2003). The current program began in December 2003 with the construction of a field camp which provides accommodation for 80 men.

On December 13, 2004 Guyana Goldfields obtained a reconnaissance permit of a 600 km2 surrounding the Aurora Prospecting License. Guyana Goldfields explored this area with an airborne magnetic and radiometric survey, flown by Terraquest, and with reconnaissance stream silt surveys. Dr. A. Spector, consulting geophysicist identified 62 anomalous areas, from the airborne geophysical data. The geochemical reconnaissance was supervised by Dr. Linda Heesterman, consulting geochemist. Her program collected 306 stream sediment samples, 1,819 deep, auger samples from 832 stations and 415 rock float samples. Heesterman also obtained and integrated all existing stream silt analyses for the area from surveys done by Denison Mines Inc. (Denison), BHP Billiton Inc. (BHP) and the Guyana Geology and Mines Commission (GGMC) and integrated this information into her interpretation. On the basis of the reconnaissance information Guyana Goldfields applied for and received five new prospecting licences around the perimeter of the original Aurora concession.

The principal follow-up work is summarized in the following table.

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SUMMARY OF FOLLOW-UP WORK DONE IN 2004-2005 PROGRAM Aurora Project Guyana Goldfields Inc.

Auger Soil Adits

Mapped/SampledTrenches Mapped

SampledRock

DDH/m SaproliteDDH/m

Aleck Hill Zone

No survey 7 adits/workings mapped and 219 samples

No new trenches

14 / 3,103.3 26 / 1,932

North Aleck Hill

Small survey 1 adit 3 samples

Readings Trenches 16 samples 3 new trenches 441 samples

5 / 1,467.0 ---/---

West Mad Kiss

No survey 3 adits 211 samples

No new trenches No new drill holes

---/---

Walcott Hill


No new trenches 11 / 1,683.9 ---/---

East Walcott Hill

No survey --- No new trenches 6 / 1,263.6 ---/---

Rory’s Knoll

No survey ---- No trenches 50 / 17,381.40 ---/---

Mad Kiss

No survey No underground sampling

4 new trenches 22 samples

14 / 2,602.0 ---/---

South Mad Kiss

No survey No U/G sampling No new trenches 8 / 825.0 ---/---

Miscellaneous Zones

Survey 6 / 1,359.15 ---/---

Totals 114/29, 685.4 26/1,932

EXPENDITURES

The summary of expenditures to date are provided by Mr. E. Badida, CFO, Guyana Goldfields and summarized on the following table.

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EXPENDITURES OCTOBER 1, 2004 – SEPTEMBER 30, 2005

(After Ed Badida 2005 and 2006) Aurora Project Guayana Goldfields Inc.

Element 10-01-04

12-31-05

Geophysical Consulting 58,700

Assays 302,304

Geochemical consulting 26,086

Geological consulting fees and expenses 706,415

Land surveying 1,840

Diamond drilling 2,334,276

Expediting and transportation 1,857,647

Drilling supplies 152,500

Office eùipment and software 109,788

Copying and printing 1,061

Courier 746

Consulting - other 58,480

Field eùipment and supplies 150,918

Management fees and expenses 177,379

Airborne geophysical survey 281,667

Land acùisition 241,350

Insurance 2,112

Total 6,463,270

GEOLOGICAL SETTING

REGIONAL GEOLOGY

The Guyana Shield (Shield) is the northern Amazon Craton, which was part of the West African Craton until the Atlantic Ocean opened about 115 Ma ago. The Amazon Craton was divided into provinces based on age determinations, structural trends, proportion of lithologies and geophysical trends. The Proterozoic greenstone areas of Guyana are in the Pastora-Amapa Province (2.2 Ga to 1.95 Ga} and consists of metavolcanic and metasedimentary rocks. Tropical weathering has transformed the upper 100 m of the Shield into a saprolite, highly variable in thickness but which can be mined at a relatively low cost.

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LOCAL GEOLOGY

The Barama, Cuyuni and Mazaruni are the greenstone belts in Guyana. The Aurora Prospect is in the Cuyuni belt, which consists of, basalts, overlain by andesite-rhyolites, overlain by shales and graywackes. Ultramafic and carbonate rocks occur locally.

Most rocks were deformed by the Trans-Amazonian Orogeny (2.0 Ga). Brittle faults trending north-northwest or north-northeast were intruded by mafic dikes and north-northeast faults displaced mineralized zones.

There are a number of gold mines and gold occurrences in Guyana, Venezuela, Surinam and French Guiana.

PROPERTY GEOLOGY

The Aurora project covers metasedimentary and metavolcanic rocks of the Cuyuni Formation, east of the Proterozoic Aurora intrusion. The Aurora intrusion is on the contact between the greenstone belts and the Devil’s Hole Gneisses. These gneisses are believed underlying the greenstones. Both greenstones and intrusions are intruded by basic sills and dykes.

Greenstones trend east-southeast and include mafic tuff, andesite with dacite, phyllite, quartzite, and schist. They are intruded by the Iroma-Ranka, Aurora and Katruni medium-grained granodiorite and diorite intrusions.

The rocks which include folded mafic volcanics and derived sediments are metamorphosed to greenschist facies. Mapping by Odan (1992) showed doubly-folded folds suggesting a complex deformation pattern. The Aurora granodiorite intrusion is along the southwestern side of the property.

The airborne radiometric survey showed two radiometric phases in the Aurora intrusion. The entire intrusion has anomalous values for potassium but the east side is also anomalous in total count. The contact of the intrusive is marked by a belt about 2.5 miles (4 km) wide of aeromagnetic disturbance related to the intrusive which is equally strong in the Cuyuni volcanic rocks and the Devil’s Hole Gneisses.

DEPOSIT TYPES

Deposits at Aleck Hill and Mad Kiss were originally described as mesothermal quartz veins and many known mineral occurrences on the original Aurora property are in this category. However, Rory’s Knoll is significantly different. It is hosted by a sequence of volcanic flows, tuffs and derived sediments intruded by dykes of quartz-feldspar porphyry (QFP) and associated with intense carbonate, sericite and quartz alteration. Opaque minerals are principally fine-grained, disseminated pyrite and gold. The Haimarralli and Marupa showings are associated with small intrusive bodies, but the mineralization is not understood.

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Although most zones of mineralization, with the exception of Mad Kiss, follow northerly trending structures, the mineralized parts of these structures form three easterly trending belts at 10,000 N, 9800 N and 9400 N. The belts of mineralization are at about right angles to the intrusive contact which suggests a structural control related to the intrusive.

MINERALIZATION

RORY’S KNOLL

The Rory’s Knoll deposit extends ±250 m along a trend of 300º W, plunges ±70˚ N, and dips 80˚ to 85˚ E. It is about 100 m thick at the widest point and has been traced to about 700 m below surface. It has been defined by 50 diamond drill holes (17, 381.40 m).

Host rocks are interbedded volcanic flows, tuffs and graywackes intruded by granitic and QFP dykes in a ductile (?) deformation zone between a hanging wall sequence of volcanic rocks and a footwall sequence of volcanic and sedimentary rocks. Superimposed on the deformed rocks is intense wallrock alteration, which was divided during core logging into: 1.) “Dacite Tuff”, 2.) “Sericite Schist” and 3.) “Altered Volcanic Rock”. The three units are complex mixtures of different lithologies, and different types of deformation with different superimposed alterations and veining. Gold mineralization is spatially associated with the “Dacite Tuff” unit.

Petrographic work (Kipfel, 2005) indicates most wallrock alteration is carbonate, sericite and quartz. The “Dacite Tuff” unit has been named by Kipfel as tonalite. The mineralized zone contains disseminated pyrite grains as well as minor amounts of chalcopyrite and molybdenite. Trace amounts of sphalerite, argentite, native silver, bornite and chalcocite have been reported in polished sections. The gold mineralization is at reasonably consistent grades through large volumes of rock which indicates fine evenly distributed gold grains.

In the hanging wall, narrow zones of quartz breccias surrounded by envelopes of carbonatization and pyritization contain significant amounts of gold mineralization. In the footwall, there are narrow quartz vein stockworks with pyrite and gold.

ALECK HILL

At Aleck Hill, the mineralized zone extends ±800 m along strike with higher-grade material and the old underground workings extending for ± 400 m in the centre. Gold occurs in a zone of pyrite-rich quartz veins striking 150º and dipping sub-vertically. The zone is up to 20 m wide and enclosed in intensely altered volcanic rocks which appear sericitized and carbonatized in hand specimen. Extensive fracturing cemented with calcite is frequently present.

The most recent program at Aleck Hill included a bedrock drilling program of 14 holes (3,103.3m) and a saprolite drilling program of 26 holes (1,932.5 m). The mineralized zone at Aleck Hill is a much smaller volume of rock than at Rory’s Knoll.

13

The new work has established a coherent zone of gold mineralization in the saprolite and improved the definition of the main zone, but it did not pursue the higher grade shoots at depth.

EAST WALCOTT HILL

The East Walcott Hill occurrence is about 150 m east of Walcott Hill. Previous work included seven trenches, which cut zones up to 17 m wide, and three diamond-drill holes, which cut zones of low-grade gold mineralization up to 28 m of 1.84 g/t Au. The current program, six diamond-drill holes (1,263.60 m) defined a quartz stockwork, 50 m long, 15 m wide that is open at depth and along strike. The geometry suggests it might be an up dip extension of the Rory’s Knoll Zone.

WEST MAD KISS

The West Mad Kiss occurrence is 200 m west of Mad Kiss. It consists of a southern area, West Mad Kiss Tunnels #1 and #2 and Denison drill hole (AD-46) and a northern area, West Mad Kiss Tunnel #3 and Denison drill hole (AD-40). Denison did not believe the two areas were geologically related (Andreazza, 1992). In the current program mineralized zones in the tunnels were remapped and re-sampled (210 samples from 200 m of tunnel) but there was no drilling.

All the tunnels are in saprolite and gold values may represent surface enrichment. However, two zones with significant gold values across significant distances warrant additional exploration.

WALCOTT HILL

Denison’s work described gold in quartz veins up to 0.6 m wide, striking 320º and dipping sub-vertically. The current exploration program included cleaning out, re-mapping and re-sampling three adits and drilling three holes (732.9 m.) on the same section as the Denison drill hole.

The new sampling showed a zone of significant gold mineralization ±35 m along strike in adits WH-2 and WH-3. The width is uncertain but it appears to be 10 m to 12 m. Adit WH-1 has a zone of mineralization about 5 m wide and 8 to 10 m long. If the gold mineralization is from the same zone, the length would be ±150 m.

The drill section, which contains a Denison drill hole and three Guyana Goldfields holes, is on the boundary between adits WHA-3 and WHA-2. Denison’s hole contained 1.25 g/t Au over 11 m but core recovery was poor. Guyana Goldfield’s drill hole WHD-1, under the Denison hole, had 1.67 g/t Au over 7.8 m and the core recovery was ±100%. If the two intersections are the same, the mineralized zone is vertical. However in the eight additional holes drilled along strike there were only scattered mineralized intersections. The holes did not define a primary zone of mineralization to correspond to the one in saprolite. At present no additional work is envisioned for Walcott Hill.

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SOUTH MAD KISS

The South Mad Kiss deposit is located about 700 m east of Aleck Hill. Previous trench sampling and seven diamond drill holes by Denison (Andreazza, 1992) showed the gold mineralization to be discontinuous. The current program of Guyana Goldfields, eight diamond drill holes (823 m), has confirmed a zone of discontinuous mineralization.

MAD KISS

The Mad Kiss deposit, located about 450 m east of Aleck Hill, received significant amounts of trenching and drilling in the previous programs. The current program consisted of four backhoe trenches and 14 drill holes (2,602 m).

Sereneo (2005) summarized the geology as a mineralized zone trending 250º and dipping 70º N, bounded by two parallel, northwest faults. It is about 150 m wide and the QFP is the principal host for the gold. There is also gold mineralization in stockworks trending about 150º and dipping steeply north and south on the hanging wall and footwall of the QFP. Sereneo (2005) believed the QFP filled the dilational zone between the two faults. If this model is correct, there may be additional QFP dykes to the southeast and northwest of the boundary faults.

The five significant intersections in the current program (MKD 2, MKD-4, MKD-5, MKD-6 and MKD-10) are all quartz vein stockworks in QFP or on the contact of the QFP. When combined with the previous intersections, they define a zone of mineralization with a limited volume. In Cargill’s opinion, there are no drill targets in the Mad Kiss Prospect at the present time. However, when all the assay results from the current program are incorporated into the model, new targets may be developed.

NORTH ALECK HILL

The North Aleck Hill occurrence, about 500 m north of Aleck Hill, is a small hill covered with quartz float and showing a strong soil geochemical anomaly. The current program began with a deep-auger geochemical survey. Geochemical anomalies were followed up with three backhoe trenches dug 50 m apart for a total of 500 m of trenching. This was followed by five diamond drill holes (1,467 m). Drilling defined a mineralized quartz stockwork about 250 m long, 35 m thick, dipping steeply. It is cut off to the north and south but is open down dip (plunge?).

In Cargill’s opinion, the mineralization is in a steeply-plunging quartz-stock work. Additional drilling would better define the zone and trace it down plunge, but it is a target with limited tonnage potential.

POWIS HILL

The Powis Hill occurrence is located about 2 km south of the Aurora base camp. It is a low hill with seven old trenches (±270 m) in saprolite. Guyana Goldfields cleaned out these trenches and re-mapped and re-sampled them.

The most interesting results were from the western trenches where they defined a zone of en echelon quartz veins in a zone striking 300º, about 70 m long and ±5 m wide.

15

Channel samples had values of 2.07 g/t Au over 8 m, 2.05 g/t Au over 6 m, 2.73 g/t Au over 4 m and 1.33 g/t Au over 1 m as well as grab samples grading up to 114.73 g/t Au. Samples from the eastern trenches contained no significant gold values.

The next step is to either dig trenches to bedrock with the backhoe or to drill a fan of holes under the widest part or the zone.

HAIMARALLI COPPER-GOLD ZONE

Barron and Harden (1963) described the Haimaralli Copper-Gold Zone as an area underlain by volcanic and sedimentary rocks, metamorphosed to greenschist facies, with a vertical foliation striking south-easterly. It is immediately east of the Devil’s Hole Gneiss complex and north of the Aurora high-level intrusive. Macdonald (1968) described the original occurrence as oxide copper in the Cuyuni River bed near Haimaralli Falls. This discovery led to a stream silt survey (100 km2) by the Guyana Geological Survey and the United Nations Development Program (UNDP), followed by soil surveys which produced two weak anomalies. Drilling tests did not find copper mineralization. A hole drilled to test the original showing, intersected about 0.3% Cu over intersections of up to 24 m. All copper assays were done using colorimetric methods. There was no assaying for gold. The significant copper-gold mineralization at the neighbouring Aranka Property makes testing the gold content of copper mineralization from this area a high priority.

Denison did a soil auger geochemical survey on the Haimaralli Copper-Gold zone (Andreazza, 1992) which confirmed the soil geochemical anomaly reported by the UNDP. Denison did no follow-up work.

Guyana Goldfields has located the UNDP drill sites and parts of the Denison geochemical grid. Careful review of the old data showed that the Denison and UNDP soil geochemical anomalies correspond. Guyana Goldfields has carried out a program of auger drilling and plans ground geophysical work over the new grid.

MARUPA

The Marupa deposit was found by the Guyana Goldfields silt-geochemical reconnaissance program. The silt anomaly roughly corresponded to an aeromagnetic anomaly interpreted as a granitic intrusive.

Guyana Goldfields follow-up work consisted of auger sampling along the ridges separating the anomalous drainages. Three anomalous areas were found and systematic soil-auger grids were laid out to cover the anomalies. Guyana Goldfields plans to survey these grids with ground geophysics to help define drill targets.

9,500 N ZONE, 9,400 N ZONE

The 9,500 N and 9,400 N Zones are a poorly defined zone of scattered geochemical anomalies (Cargill, 2003). The best showing is described as a quartz vein in sericite schist but grab samples did not yield significant gold values. The six drill holes (1,359

16

m) drilled to test the geochemical anomalies intersected highly anomalous soils in KRD-5 and narrow high grade quartz veins in KRD-3 and KRD-5.

FELICE ZONE

Guyana Goldfields did no additional work in the current exploration program for the Felice Zone.

SWAMP ZONE

A deep augering, soil-geochemical survey did not yield anomalous results in the Swamp Zone.

2,400 SOUTH ANOMALY

No additional work was done in the current program for the 2,400 South Zone.

EXPLORATION

RECONNAISANCE SURVEY

The reconnaissance survey program included an airborne survey and a stream silt geochemical survey. The airborne survey was flown in December 2004, over 802 km2

and consisted of 8,120 line km. It included magnetic, radiometric and EM instruments. The contractor prepared composite profiles of the magnetic intensity, potassium radiometric channel and EM data at 1:10,000, which were the basis for the analysis and interpretation of the data by Dr. A. Spector, Consulting Geophysicist. Dr. Spector selected 62 airborne geophysical targets.

The stream silt survey consisted of: the Northwest Reconnaissance Area, the original Aurora Prospecting License and the Southeast Reconnaissance Area. It was organized and supervised by Dr L. Heesterman, Consulting Geochemist. In addition to collecting new samples, Heesterman obtained all existing silt information and integrated it into the interpretation. On the Northwest area two gold anomalies were identified. The first, immediately north of the Cuyuni River, may represent a continuation of the mineralization at Rory’s Knoll. The second anomaly, farther to the northeast, which includes a geophysical target and a historical gold showing, is now designated the Marupa area.

Work on the original Aurora Prospecting License consisted of semi-detailed silt sampling in the southern and northwestern parts. From this data Dr Heesteman identified three anomalous areas which had not been followed up.

The Southwest area recently had been covered by silt sampling programs by the GGMC and BHP. The base metal analyses defined an anomalous area for Cu-Pb-Zn. Guyana Goldfields also collected about 100 soil samples from four reconnaissance soil lines across this area which did not yield any significant anomalies.

Geochemical follow-up work consisted of auger soil-sampling programs at Western Gold Creek, Caleb Area, Wildcat #1 and geophysical anomalies #4 and #28 (Figure 27).

17

All these areas are on or very close to the original Aurora Prospecting License. At Western Gold Creek the work did not define any significant anomalies. At Caleb Area-East auger samples were moderately anomalous but did not define specific areas for follow-up. At Caleb Area-West auger sampling defined two areas for follow-up auger sampling and prospecting. At Wild Cat #1 Area a cluster of rock and auger anomalies required prospecting and auger geochemistry. At geophysical anomalies #4 and #28 no significant rock or auger anomalies were defined.

For the previously known areas, the follow-up work is outlined in “Summary of Follow-up Work Done in the 2004-2005 Program” table under “History”.

DRILLING

Previous diamond drilling was summarized in Cargill (2003). Diamond drilling in the 2004-2005 program is summarized in the table below.

Saprolite was drilled with “HQ Core Barrel” sized core and hard rock with “NQ” sized core. Recoveries were very good, essentially 100%. Guyana Goldfields surveyed each drill collar and carried out down-hole surveys with a single shot instrument about every 50 m. These surveys are used to establish the location of the hole in three dimensions. Core logging and rock quality determination (RQD) logging is routinely saved in Excel spreadsheet format. Specific gravity (SG ) measurements are done on each new rock type using the water immersion method. For the initial holes, Guyana Goldfields also took systematic measurements of magnetic susceptibility. However, the susceptibility is so low that it was essentially impossible to measure it with the portable instruments.

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DIAMOND DRILLING SUMMARY FOR 2004 – 2005 PROGRAM

Aurora Project Guyana Goldfields Inc.

Area Number of Holes

Total Depth (m)

Aleck Hill 14 3,103.30

Aleck Hill Saprolite 26 1,932.50

North Aleck Hill 5 1,467.00

Rory*s Knoll 50 17,381.40

East Walcott Hill 6 1,263.60

Miscellaneous Holes 6 1,359.15

Walcott Hill 11 1,683.90

Mad Kiss 14 2,602.00

South Mad Kiss 8 825.00

Total 140 31,617.85

SAMPLING METHOD AND APPROACH

GEOCHEMICAL SAMPLING

STEAM SILTS

Silts were one standard stream silt sample collected from live silt in the active channel at each sample point.

GRAB SAMPLES

During prospecting programs, grab samples were take from quartz veins in bedrock and float.

AUGER SAMPLES

Initial soil sampling consisted of samples collected with a small auger at a depth of "20 cm. These samples were usually contaminated and the method has been abandoned. The current soil sampling is done with large, hand-powered augers and samples are collected from surface to depths of 4 or 5 m. The first 20 cm of material is discarded and the rest of the material collected as 1 m samples which weigh from 2 kg to 5 kg.

TRENCHING

All trenching was done with a back hoe. Trenches are 3 m deep and about 0.5 m wide. They provide samples below areas disturbed by mining activity or surface geochemical enrichment. These trenches were sampled with channel samples, about 5 cm wide and 5 cm deep, from the center of the bottom of the trench. The lengths of the

19

samples were determined by geology but ranged from 0.5 to 4.0 m in length and contained from 2 kg to 10 kg of material.

DIAMOND DRILLING

Diamond drilling used “HQ Core Barrel” sized core for saprolite and “NQ” sized core for rock. Sample recoveries were excellent (±100%). Rock drill core was sawn on site, with samples from 1 to 3 m in length. Saprolite drill core was usually cut in half with a knife but fragments of quartz vein material were split in a Longyear core splitter. All drill core is stored on the property in plastic boxes.

SAMPLE PREPARATION, ANALYSES AND SECURITY

All samples, geochemical, grab and drill core, were shipped from the site to the Loring Laboratory (Loring), in Georgetown in plastic bags packaged within rice sacks. Each shipment is transported under the supervision of a company representative from the time it leaves the site until it reaches the laboratory. Each sample batch of 20 samples includes a Reference Material (RM) and a blank.

Sample preparation was done by Loring and the sample preparation procedures, imay be summarized as follows.

! The entire interval is crushed to 95 % passing a10 mesh screen. ! A sub-sample weighing 300 g is riffle split from the crushed sample. ! The riffle split is pulverized to 80% passing 150 mesh. ! The pulps are assayed for Au using a 30 g aliquot by lead fire assay with

an atomic absorption spectrometry finish (FA-AAS). ! Samples with FA-AAS gold assays greater than 1 g/t Au are submitted for

fire assay with a gravimetric finish (FA-GRAV). ! A second split from the crushed material is prepared for samples with

greater than 1 g/t gold reported in the original sample.

DATA VERIFICATION

Although Loring, Guyana, is not a certified laboratory, it is a branch of a major certified Canadian Laboratory. Cargill has verified Loring’s assay results against those obtained in Toronto by SGS (XRAL) on five quartered-core and 17 pulp samples. Cargill has also verified Loring’s assay values against those obtained by SGS (XRAL) on previous occasions (Cargill and Gow, 2003).

Cargill collected five ¼ core samples and 17 sample pulps for intervals previously analyzed by Guyana Goldfields. These samples were assayed for gold by Loring in Georgetown and by SGS in Toronto. The following table and figures show the comparisons between the results obtained by Guyana Goldfields at Loring Laboratories in Guyana and by SGS in Toronto.

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QUARTER CORE SAMPLES - CHECK ASSAYS Aurora Project Guyana Goldfields Inc.

Original Assay Split Core

Check Assays Quartered Core Sample

Number g/t Au (Loring)

g/t Au (Loring)

g/t Au (SGS)

G-1 1.40 1.50 0.72 a(1.03)

G-2 3.27 0.69 1.50

G-3 1.97 2.80 2.70

G-4 3.33 1.33 0.93

G-5 2.80 1.07 1.73

a Duplicate assay from pulp by the laboratory

PULP SAMPLES - CHECK ASSAYS Aurora Project Guyana Goldfields Inc.

SampleNumber

Original Assay Loring

Check Assay SGS

13414 1.40 3.08 13418 3.27 1.77 13430 6.20 6.76 12823 1.80 2.55 12831 2.80 3.04 36961 3.60 2.87 36990 2.43 3.41 37617 13.47 12.8 37620 1.37 1.10 13419 5.60 3.94 13436 5.07 5.57 13451 2.50 1.17 12817 4.10 3.77 12811 1.67 1.17 12857 4.27 5.31 15610 3.73 4.37 15607 3.87 3.44

Bloom (2006), licensed consulting geochemist reviewed Guyana Goldfields assay and quality control program. This review concluded that: 1.) there is no evidence of contamination for the gold assays based on the insertion of blanks, however, there is possible cross-contamination after samples with >2.6 g/t Au; 2.) there is no bias based on

21

results for reference materials with grades greater than 1 g/t Au, but results for the four reference materials with expected values >100 ppb demonstrate the laboratory cannot distinguish between values form 49 to 91 ppb Au.

Bloom also made nine recommendations for improving the QA work on the program. They are:

1. Each laboratory work order should be check for acceptable blank and RMs assays on receipt.

2. All eight of the failures for blanks should be investigated and new pulps prepared from the rejects to be assayed.

3. Procedures for inserting QC materials and recording data should be reviewed to minimize the number of mislabelled QC samples.

4. Sample pulps from ten samples before and ten samples after each of the 84 QC failures should be re-assayed.

5. The variance between the quoted detection limit of 5 ppb Au and the variations in assays for RMs with values in the range of 49 to 91 ppb Au should be discussed with the laboratory.

6. Additional reference materials should be added to the program to cover concentrations between 0.10 g/t and 1.4 g/t Au.

7. Routine pulp duplicate data should be compiled and reviewed to determine the reproducibility of pulps for all samples.

8. It is necessary to submit ½ the core as the original sample to determine if the more mineralized half of the drill core is preferentially sampled.

9. Gold check assays at a secondary laboratory are recommended on pulps for 5% of the total samples.

ADJACENT PROPERTIES

About 10 to 15 km north of Aurora significant copper-gold mineralization has been located at the Aranka Prospect. The best reported diamond drill intersection was 120 m grading 1.11 g/t Au and 0.34% Cu (Thompson, 1999). The presence of this mineralization may be very significant given the copper mineralization at Haimaralli Falls on the Aurora Property.

Information on adjacent properties is derived from third party reports in the public domain and the technical aspects have not been independently verified by

22

Cargill. Technical data from these properties is not necessarily indicative of the mineralization on the Aurora Properties.

MINERAL PROCESSING AND METALLURGICAL TESTING

There are no records of metallurgical testing of material from the Aurora Property by previous operators. Guyana Goldfields submitted six – 5 kg samples, two samples from Rory’s Knoll, three from Aleck Hill and one from Mad Kiss to Lakefield Laboratories in Ontario for preliminary metallurgical testing. Four of the samples were of primary material and two of saprolite. These tests indicated the mineralized material is free milling and might be expected to yield gold recoveries of 92% under very normal cyanide leach conditions.

MINERAL RESOURCE AND RESERVE ESTIMATES

There are no Mineral Resources or Mineral Reserves outlined on the property that are consistent with the requirements of NI 43-101.

OTHER RELEVANT DATA AND INFORMATION

Guyana Goldfields does not need to obtain any further permits to complete the exploration programs proposed in this report.





! Gold was produced from underground operations at Aleck Hill and the Mad Kiss Mines between 1940 and 1948 and the gold deposits were interpreted as fracture controlled, mesothermal veins. The gold veins are accompanied by

23

ankeritization, pyritization and sericitization of the wall rocks. Where the gold veins are closely spaced, gold values approach commercial values.

! At the new Rory’s Knoll deposit, gold is associated with disseminated pyrite and silicification in a zone of narrow dykes cutting an assemblage of finely- bedded/foliated volcanic flows, tuffs, and associated sediments. The field name for this zone is “Dacite Tuff”. .It is completely different from the other known occurrences and provides a large volume of lower grade material.

! Currently data suggests the gold is associated with a high level, QFP phase of the Aurora intrusion. This phase, which is on the east side of the Aurora intrusion, is coarse grained and has a strong radiometric (total count) signature. Similar QFP dykes have been described from trenches, adits and drill holes in most of the known gold occurrences on the property.







24


Information

Level Mineral



High Rory*s Knoll Disseminated gold with pyrite in a highly altered shear zone with associated dykes




No planned work






IP and magnetics



















25


Information

Level Mineral




2400 South Anomaly


IP and magnetics

Low


RECOMMENDATIONS


PHASE ONE


2. Integrate the different types of information: geology, airborne and ground geophysics, silt and auger geochemical sampling, drilling data, thin section data and known mineral occurrences, into a geological model.

3. Implement the recommendations from the review of the QA/ QC procedures (Bloom, 2006). They are: ! Each laboratory work order should be checked for acceptable blank and

reference materials (RM) assays on receipt. ! All eight of the failures for blanks should be investigated and new pulps

prepared from the stored rejects to be assayed. ! Procedures for inserting QC materials and recording data should be reviewed

to minimize the number of mislabelled QC samples. ! Sample pulps from ten samples before and ten samples after each of the 84

QC failures should be re-assayed.

26

! The variance between the quoted detection limit of 5 ppb Au and the variations in assays for RMs with values in the range of 49 to 91 ppb Au should be discussed with the laboratory.



! It is necessary to assay ½ the core as the original sample and subsequently to test the entire second ½ core to determine if the core is preferentially sampled.






8. Continue the environmental study to obtain the baseline information on the area. It is necessary to carry out a study that satisfies the international authorities as well as those in Guyana.



27



PHASE TWO









28


Program Can$

Phase One Program (12 Months)

Data Compilation - Digitizing the Database etc. 15,000

Evaluation of the QA/QC assays 10,000

Geological Consulting and Costs 500,000

Salaries (local) 100,000

Camp Maintenance (for 12 months) 60,000

Expediting and Transportation 1,000,000

Drilling Rory*s Knoll Aleck Hill East Walcott Hill West Mad Kiss Walcott Hill South Mad Kiss Mad Kiss North Aleck HIll Powis Hill Hairmaralli Marupa 9500N North River 2400 South

15,000 m 1,500,000

Drill collars surveys 5,000

Topographic surveys 5,000

Geology 10,000

Prospecting 75,000

Auger Geochemistry 3 anomalies need follow up work 30,000

Geophysical E`uipment 200,000


Environmental Baseline Program Aurora Properties 160,000

Metallurgical Testing Rory*s Knoll 10,000

Resource Estimate Rory*s Knoll, Aleck Hill 40,000

Assaying 175,000

Check Assaying (North American Lab) 5,000

Report Writing 5,000

29


Program Can$

Drafting 10,000

Heavy E`uipment Purchases and Maintenance 600,000

Subtotal 4,615,000

10% Contingency 461,500

Phase One Total $5,076,500

Phase Two Program (12 Months)

Data Digitizing and Modeling 25,000

Geological Consulting and Expenses 500,000

Salaries Local 100,000

Camp Maintenance (for 12 Months) 60,000


Drilling Rory*s Knoll Aleck Hill Area fAg Area fBg

25,000 m @W100 2,500,000

Drill collars, boundary surveys 15,000


Access road surveys 25,000

Geology 10,000

Prospecting 75,000

Down hole geophysical surveys 35,000


Environmental Studies and Reports 50,000

Metallugical Testing - Flowsheet 50,000

Preliminary Mine Design 35,000

Resource/Reserve Estimates 50,000

Assaying 175,000

Check Assaying 15,000

Pre-Feasibility Study 35,000

30


Program Can$


Phase 2 Subtotal 5,390,000



Total Phases One and Two $11,005,500


31

INTRODUCTION AND TERMS OF REFERENCE

Cargill Consulting Geologists Limited (Cargill) was retained by Guyana Goldfields Inc. (Guyana Goldfields) to prepare an independent technical report discussing the wholly-owned Aurora Property, a gold property in the western part of Guyana about 170 km west of Georgetown (Figure 1). This report is required to update a report on this property prepared by Cargill (2003), “Report on the Aurora Property”. It is prepared to conform to National Instrument (NI 43-101, companion policy NI-43-101CP, and Form NI 43-101F1.

Information included in this report is from the Guyana Goldfields field-program that ended December 30, 2005. Additional information on the QA/QC program and the preliminary metallurgical studies was from the study of material collected during the field program that ended December 30, 2005. Although field work resumed in January 2006, none of the results from this work has been included in this report.

While Guyana Goldfields holds other properties in Guyana, only the Aurora Property is the subject of this report.

Dr. D. George Cargill, P.Eng. visited the Aurora Property between September 17, 2005 and Sept. 29, 2005. Cargill had previously visited the property in 2003 and 2004. Discussions were held with company personnel on the property, in Georgetown, Guyana, and in Toronto. Additional information was obtained from reports from Canadian mining companies that previously held title to the property and from the records of the Government of Guyana. Citations for the material reviewed are listed at the back of this report.

Metric units and Canadian dollars ($) are used throughout this report, unless other units are specified.

This technical report has not included information under Item 25 of National Instrument 43-101F1 because the Aurora Property is not regarded as a development or production property at this time.

RELIANCE ON OTHER EXPERTS

This report has been prepared by Cargill for Guyana Goldfields (the Client). The information, conclusions, opinions, and estimates contained herein are based on: information available to Cargill at the time of preparation of this report. Assumptions, conditions, and qualifications are as set forth in this report, and, data, reports, and

32

opinions supplied by the Client and other third party sources (listed below). Cargill does not guarantee the accuracy of conclusions, opinions, or estimates that rely on third party sources for information that is outside the area of technical expertise of Cargill.

Cargill has relied on the following reports and/or opinions from third party sources for the following information that is outside the area of technical expertise of Cargill:

! Alphonso Agreement on mineral title (Cargill 2003)

! Benn Letter (2003) pertaining to mineral title (Cargill,2003)

! Additional title information pertaining to the five new prospecting licenses acquired on the periphery of the property (Appendix 1)

! Expenditure data from Guyana Goldfields (Badida 2005 and 2006).

Further, Cargill has been unable to confirm parts of the work reported by Denison because the record of work completed by Denison is incomplete.

0 50 100 150 200

kilometres

December 2005

N

08°

04°

64°W

60°W

G u y a n a

Suriname

Brazil

Venezuela

AtlanticOcean

MazaruniRiver

EssequiboRiver

CuyuniRiver

CorantijnRiver

EssequiboRiver

BerbiceRiver

Matthew�sRidge

Parika

Georgetown

New Amsterdam

DemeraraRiver

TimehriAirport

Figure 1Guyana Goldfields Inc.

Aurora PropertyGuyana

Location and Access(after Andreazza, 1992)

LoggingRoads

Projected Roadto Property

AuroraProperty

Bartica

Quartz StoneLanding

CARGILLCONSULTING GEOLOGISTS LIMITED

34

PROPERTY DESCRIPTION AND LOCATION

The Aurora project is about 170 km west of Georgetown, the capital of Guyana and 130 km from Bartica, a settlement located near the mouth of the Cuyuni River (Figure 1). The original Aurora property was a prospecting license (PL) covering an area of ±6,500 ha centered at longitude 59º 45’ W and latitude 5º 45’ N. A complete description and copies of the relevant agreements included in Cargill (2003). The five new PLs that have been added to the property are listed in Table 1 and shown on Figure 2. The total area of the contiguous PLs is 27,741 ha. The complete legal description for each of the five new PLs is given in Appendix 1. The granting of these PLs was published by the Guyana Geology and Mines Commission (GGMC) in the Gazette of the Government of Guyana on December 19, 2005. The properties have not been legally surveyed, nor is there any requirement for a legal survey. There are no known environmental liabilities associated with the property.

Under an agreement dated May 20, 1998 with Mr. A. Alphonso, (Alphonso Agreement), Guyana Goldfields holds the option to acquire a 100% interest in the original Aurora Prospecting License or the Replacement License and all rights to a mining license. The 2% NSR royalty mentioned in a previous report (Cargill, 2003) has been purchased by Guyana Goldfields. Guyana Goldfields ownership of the Prospecting License, subject to the Alphonso Agreement, is confirmed in a letter dated August 15, 2003 by Mr. Robeson Benn, Commissioner, Guyana Geology & Mines Commission (Cargill, 2003).

As of December 14, 2004 Guyana Goldfields obtained a Reconnaissance Permit for an area surrounding the original Aurora PL. This permit covered an area of about 148,800 acres (60, 219 ha) but excluded all lands lawfully held or occupied at the time the permit was issued. The permit lasted for a period of 6 months. The boundary of the permit is shown on Figure 2 and the description is given in Appendix 1. While the permit was in force Guyana Goldfields explored the area with an airborne geophysical survey and stream silt geochemical surveys. On the basis of this work Guyana Goldfields applied for and obtained five Prospecting Licences within the Reconnaissance permit area. The new prospecting licenses are: GUYGOLD-001-17Q; GUYGOLD-002-17Q GUYGOLD-003-17Q; GUYGOLD-004-17Q and GUYGOLD-005-17Q. The five new licences cover about 56,811 acres (22,991 ha). These licences were granted to Guyana Goldfields, Dec. 19, 2005 and copies of the licences are included in Appendix 1.

35

TABLE 1 PROSPECTING LICENSES FOR THE AURORA PROPERTY

Aurora Project Guyana Goldfields Inc. Prospecting License Area (Acres/ha) Geographic Coordinates

Original Aurora License

14,131.2/5652.4 59i 43* 17g W 6i 47* 32g N, 59i 41 *24g W 6i 45* 38g N 59i 41* 24g W,6i 43* 03g N 59i 43* 08g W,6i 43* 03g N 59i 46* 54g W 6i 46* 40g N, 59i 46* 54g W, 6i 48* 15g N

GUYGOLD-001-17Q 11,386/4,607.9 59k 47* 58g W 6k 51* 02g N 59k 44* 05g W 6k 51* 02g N 59k 47* 05g W 6k 50* 01g N 59k 43* 06g W 6k 50* 01g N 59k 43* 06g W 6k 47* 20g N 59k 46* 53g W 6k 48* 16g N 59k 46* 53g W 6k 47* 56g N 59k 47* 02g W 6k 47* 56g N 59k 47* 02g W 6k 49* 02g N 59k 48* 00g W 6k 49* 02g N

GUYGOLD-002-17Q 8,416/3,405.9 59k 48* 03g W 6k 47* 02g N

59k 47* 02g W 6k 47* 02g N 59k 47* 02g W 6k 47* 56g N 59k 46* 53g W 6k 47* 56g N 59k 46* 53g W 6k 46* 43g N 59k 43* 40g W 6k 43* 32g N 59k 44* 10g W 6k 43* 32g N 59k 44* 00g W 6k 43* 46g N 59k 46* 56g W 6k 43* 46g N 59k 46* 56g W 6k 43* 59g N 59k 49* 59g W 6k 43* 59g N 59k 49* 59g W 6k 44* 59g N 59k 48* 03g W 6k 44* 59g N

GUYGOLD-003-17Q 11,426/4624.1 59k 43* 06g W 6k 50* 01g N 59k 42* 00g W 6k 50* 01g N 59k 42* 00g W 6k 47* 03g N 59k 41* 00g W 6k 47* 03g N 59k 41* 00g W 6k 45* 00g N 59k 40* 01g W 6k 45* 00g N 59k 40* 01g W 6k 43* 37g N 59k 33* 52g W 6k 43* 37g N 59k 34* 23g W 6k 42* 37g N 59k 40* 01g W 6k 42 37g N 59k 40* 01g W 6k 42 56g N 59k 40* 43g W 6k 42 56g N 59k 40* 43g W 6k 43 33g N 59k 41* 28g W 6k 43 33g N 59k 41* 25g W 6k 45 38g N 59k 43* 06g W 6k 47 20g N

36

TABLE 1 PROSPECTING LICENSES FOR THE AURORA PROPERTY

Aurora Project Guyana Goldfields Inc. Prospecting License Area (Acres/ha) Geographic Coordinates

GUYGOLD-004-17Q 11,452/4,634.6 59k 37* 39g W 6k 42* 37g N 59k 34* 23g W 6k 42* 37g N 59k 34* 01g W 6k 39* 42g N 59k 35* 02g W 6k 39* 55g N 59k 35* 58g W 6k 37* 26g N 59k 37* 39g W 6k 37* 57g N

GUYGOLD-005-17Q 11,900/4,815.9 59k 37* 39g W 6k 37* 57g N 59k 34* 37g W 6k 37* 01g N 59k 35* 22g W 6k 35* 03g N 59k 34* 40g W 6k 33* 42g N 59k 34* 40g W 6k 32* 04g N 59k 37* 16g W 6k 32* 04g N 59k 37* 16g W 6k 34* 26g N 59k 37* 39g W 6k 34* 26g N

ENVIRONMENTAL CONSIDERATIONS

Guyana Goldfields have retained Ground Structures Engineering Consultants Inc. of Georgetown to initiate a preliminary environmental survey which will assemble baseline data for the physical environment, biological environment and socio-cultural environment (Ceres, 2006). The baseline data to be assembled and evaluated will include:

! Local general geological structure, classification, composition and distribution of superficial deposits;

! Biological resources in the area including the presence of any unique ecosystems, natural habitat or endangered species;

! Historical association of the area with Indigenous Peoples; ! Permanent or transient uses of the area by Indigenous Peoples; ! The existence and movement of groundwater; ! Determination of hydrogeological data; ! Determination of hydraulic data; ! Physical, chemical and geotechnical properties of the subsoil; ! Background contamination of the subsoil, surface water and/or groundwater; ! The risk of natural hazards (e.g. flooding) and subsidence; and ! Record local meteorological conditions.

0 2 4 6 10

kilometres

8



Land Status(After Guyana Goldfields, 2005)

December 2005

CuyuniRiver

Devil�s HoleFalls

Kartuni River

Aurora PL

Akaiwong PL

GuyGold PL001-17Q

GuyGold PL 002-17QGuyGold PL 003-17Q

GuyGoldPL

004-17Q

GuyGoldPL

005-17Q

N

6°30�N 190000mE 200000mE 210000mE 220000mE

740000mN

730000mN

720000mN

750000mN

59°50�W 59°40�W

6°40�N

6°50�N


Original Guyana Goldfields PLNew Guyana Goldfields PLReconaissance AreaOther Companies PL

38

ACCESSIBILITY, CLIMATE, LOCAL RESOURCES, INFRASTRUCTURE AND PHYSIOGRAPHY

The quickest access to the property is by helicopter or float aircraft from Georgetown to the Cuyuni River, which is about 300 m wide adjacent to camp at Aurora (Figure 1). When the water is high the river provides a good landing place for float-equipped aircraft and clearings at the Aurora Camp provide abundant landing places for helicopters. Guyana Goldfields has started to prepare a landing strip for fixed wing aircraft on the gravel bars along the river near the camp.

The usual means of access is by road from Georgetown to Parika (±35 km), then by boat up the Essequibo River to Bartica, then by truck to a landing on the Cuyuni River, and up the Cuyuni River to the Aurora Camp (±195 km). This combination truck-boat-truck-boat trip can take from one day to one week depending on the water levels and the size and nature of the boat. All of the heavy equipment on the property was brought to the site by this method. There are many rapids on the river at low water and the journey can be hazardous without an experienced boat captain.

There are two logging roads, one on each side of the Cuyuni River, that approach the property (Figure 1). The river trip could be shortened about 50% by trucking equipment to Quartz Stone Landing on the south side of the river. Moving heavy equipment by this route would require upgrading the road between Quartz Stone and Quartz Stone Landing. To connect the existing logging roads to Aurora would require building about 40 km of road from the northern road, or about 50 km of road from the southern road.

The climate is humid tropical with an annual rainfall of more than 250 cm. The usual seasons are:

Long rainy season Mid April to Mid August Long dry season Mid August to Mid November Short rainy season Mid November to the end of January Short dry season February to Mid April

There has been a great deal of placer activity both in the Cuyuni River and in various feeder streams. At present, most placer mining is done with dredges but there is some hand mining by local prospectors (locally known as pork knockers) for both placer and eluvial deposits.

The nearest supply center is at Bartica about 195 km down river from the Aurora Property, but all major items must be obtained from Georgetown.

39

The area is of low relief with some small hills near the river and there are hills over 200 m high in the southwest part of the property. Two land surfaces are recognized on the property. One corresponds to the flat tops of the hills about 200 m above river level. The second is a few metres above river level and forms the large valley in the middle of the concession. Several large creeks drain into the Cuyuni River and there are large swampy areas. The entire property is covered with dense rainforest.

The property runs southeast from the Cuyuni River which is ±50 m above sea level at the camp and maintains a straight east-southeast course in a single channel. Near the river a series of river flats about 400 m wide are flooded during the rainy seasons when the river rises 6 m or 7 m.

About 8 km south of the river on the southwest side of the concession a series of hills form the watershed between the Cuyuni and the Kartuni Rivers. On the property itself there are hills formed of bedrock and clayey residual deposits cut by streams trending northeast and northwest, presumably following fracture patterns in the bedrock.

This is an exploration property in a remote area. Surface rights are adequate for either open pit or underground mining operations and disposal of waste rock and tailings. The Cuyuni River supplies sufficient water for any type of mining operation. The operation will require its own power plant and Guyana Goldfields is investigating the possibility of using a turbine in the Cuyuni River to supply power for the operation.

HISTORY

There has been a significant amount of work performed on the Aurora Property, although much of the older work is poorly documented. Work prior to 2003 is summarized in Table 2 and outlined in Cargill (2003).

40

TABLE 2 EXPLORATION HISTORY 1911 -2003 FOR THE AURORA PROPERTY


Year Exploration History

1911 Discovery of gold on the Aurora Property

1934-1939 Solar Development Company Ltd., a subsidiary of Teck Cominco Ltd., explored the area

1940 Cuyuni Goldfields Company Ltd. (Cuyuni) acùired part of the area.

1940-1948 Cuyuni mined at Aleck Hill and explored Aleck Hill and Mad Kiss with underground openings and 30 DDH (2,088 m)

1963 Geological Survey of Guyana and the United Nations Development Program conducted a copper exploration program near Haimaralli Falls, northwest of Central Aurora Area. This program included 19 DDH (2,515 m)

1989 South American Goldfields Ltd (South American) acùired the property

1989-1992 Denison Mines Ltd. (Denison) optioned the property and carried out a three year exploration program which included 56 DDH (10,180 m). Denison dropped the option in 1992.

1992 Gold Star Resources Ltd. (Gold Star) optioned the property from South American and carried out some geochemical exploration and trenching. They dropped the option in 1993 (?) and South American dropped their Prospecting License (PL).

1995 Mr. A. Alphonse acùired the property as a PL. He optioned the property to Coeur d*Alene Mines Ltd. who carried out a geochemical exploration program

1998 Guyana Goldfields Ltd. acùired a 100% option on the property from Mr. Alphonse.

2000 Guyana Goldfields Ltd conducted a small exploration program on the property with included 39 shallow DDH (1,076.1 m)

The current Guyana Goldfields program began with the construction of a field camp in December 2003 which now provides accommodation for about 80 men.

On December 13, 2004 Guyana Goldfields obtained a reconnaissance permit covering about 600 km2 surrounding the original Aurora PL. Guyana Goldfields explored this area with an airborne magnetic and radiometric survey, flown by Terraquest, and with a reconnaissance stream-silt exploration-program, supervised by Dr. L. Heesterman, Consulting Geochemist. On the basis of the reconnaissance information Guyana Goldfields applied for five new prospecting licences contiguous with the original Aurora concession. These licences were formally granted by the Government of Guyana on December 19, 2005.

2004- 2005 PROGRAM

It is convenient to divide the work in 2004-2005 into reconnaissance and follow-up. The reconnaissance work covered the Aurora PL, away from the Central Aurora Area, and the reconnaissance permit. Follow-up work was primarily on the known mineral

41

occurrences in the Central Aurora Area but some work was done on anomalies defined by the reconnaissance work.

RECONNAISSNCE PROGRAM

The reconnaissance program included an airborne geophysical survey and a stream-silt geochemical program. The airborne survey was divided into four blocks covering about 802 km2 (8,120 line kilometres). The geophysical data was processed by the contractor into composite profiles of magnetic intensity, “K” channel radiometrics, and electromagnetics and plotted at 1:10,000. These profiles were interpreted by Dr. A. Spector, consulting geophysicist, who identified 62 geophysical anomalies.

The geochemical reconnaissance was supervised by Dr. Linda Heesterman, Consulting Geochemist. This program collected 306 stream sediment samples, 1,819 deep auger samples from 832 stations and 415 rock float samples. Dr. Heesterman also obtained and integrated all existing stream silt-values for the area from surveys done by Denison Mines, BHP and the GGMC for her interpretations.

FOLLOWUP PROGRAM

The principal follow-up work is summarized in the following table.

TABLE 3 SUMMARY OF FOLLOW-UP WORK DONE IN 2004-2005 PROGRAM

Aurora Project Guyana Goldfields Inc. Auger Soil Adits

Mapped/Sampled Trenches Mapped

SampledRock


Aleck Hill Zone


No new trenches

14 / 3,103.3 26 / 1,932

North Aleck Hill

Small survey

1 adit 3 samples


5 / 1,467.0 ---/---

West Mad Kiss



---/---

Walcott Hill


No new trenches 11 / 1,683.9 ---/---

42


Aurora Project Guyana Goldfields Inc. Auger Soil Adits

Mapped/Sampled Trenches Mapped

SampledRock


East Walcott Hill


Rory’s Knoll


Mad Kiss



14 / 2,602.0 ---/---

South Mad Kiss


Misc. Zones

Survey 6 / 1,359.15 ---/---

Totals 114/29,685.4 26/1,932

EXPENDITURES

The summary of expenditures to date are provided by Mr. E. Badida, CFO., Guyana Goldfields and summarized in Table 4.

43

TABLE 4 EXPENDITURES OCTOBER 1, 2004 – SEPTEMBER 30, 2005

(After Badida 2005 and 2006)

Aurora Project Guayana Goldfields Inc.

Element Time Period

Can. $


Assays 302,304

Geochemical consulting 26,086

Geological consulting fees and expenses 706,415

Land surveying 1,840

Diamond drilling 2,334,276

Expediting and transportation 1,857,647

Drilling supplies 152,500

Office eùipment and software 109,788

Copying and printing 1,061

Courier 746

Consulting - other 58,480

Field eùipment and supplies 150,918

Management fees and expenses 177,379

Airborne geophysical survey 281,667

Land acùisition 241,350

Insurance 2,112

Total 6,463,270

GEOLOGICAL SETTING

REGIONAL GEOLOGY

The Guyana Shield (Shield) is the northern part of the Amazon Craton, which is surrounded by Neo-Proterozoic orogenic belts (Figure 3). The craton was part of the West African Craton until the opening of the Atlantic Ocean about 115 Ma (million years) ago.

The Amazon Craton has been divided into provinces on the basis of age determinations, structural trends, proportion of lithologies and geophysical trends. Gibbs

44

and Barron (1987) included the Proterozoic greenstone areas of Guyana in the Pastora-Amapa Province which has yielded geochronological ages of 2.2 to 1.95 Ga (billion years). It consists of deformed metavolcanic and metasedimentary rocks, usually metamorphosed to greenschist and amphibolite facies but includes terrains of granulite facies metamorphism.

Exploration for mineral deposits in the Amazon Craton (Craton) is hindered by the thick canopy of tropical vegetation. However, several million years of tropical weathering has transformed the upper 100 m of the Craton into saprolite which can be mined at a relatively low cost. The saprolite blanket is highly variable in thickness across the region.

LOCAL GEOLOGY

Gibbs and Barron (1987) noted that the greenstone belts of Guyana formed the Barama, Cuyuni and Mazaruni southeast trending belts. The Aurora Prospect is within the Cuyuni Belt, which is the least well known. Gibbs and Barron (1987) recognized a general stratigraphy within the belt, with lower basaltic units (both tholeiitic and calc-alkaline) overlain by an andesite-rhyolite units and finally a sedimentary unit. The sedimentary rocks include shale and fine-grained greywackes. Ultramafic rocks and carbonate rocks occur locally.

Most intrusive and volcanic rocks in the greenstone belts were affected by an intensive phase of ductile-brittle deformation at about 2.0 Ga called the Trans-Amazonian Orogeny. Brittle faults are ubiquitous throughout the Shield. Most faults trend north-northwest or north-northeast. Many faults became sites of extensive, mafic-dike emplacements and locally some of the north-northeast faults may have displaced mineralized zones.

There are a number of former and existing gold mines in the general area of interest. Gold mines and significant occurrences are associated with greenstone belts of this age in Guyana, Venezuela, Surinam and French Guiana (Figure 3).

PROPERTY GEOLOGY

The Aurora properties cover the lower Proterozoic metasedimentary and metavolcanic rocks of the Cuyuni Formation on east side of the Proterozoic Aurora granodiorite (Bracewell, 1949) (Figure 4). Webber (1952) reported the Aurora granodiorite intruded along a contact between the greenstones and the Devil’s Hole gneisses which parallel the strike of the greenstones. The gneisses are believed to underlie the greenstones but they are appear to be in fault contact in the Aurora area. Both the greenstone sequence and the major intrusions have been intruded by basic sills and dykes.

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8



Property Geology(After Bracewell, 1949)

December 2005

CuyuniRiverCuyuni

RiverDevil�s Hole

Falls

Kartuni River

N

AkaiwongPL

IromaGranite

Aurora

Granite

HaimaralliArea

MarupaArea

CentralAuroraArea

Powis HillArea

500 metres

EastWalcott

Hill

AleckHill

WestMadKiss

WalcottHill

MadKiss

10,000 E

10,00

0 N

9,500

N

SouthMadKiss

NorthAleckHill

Rory�sKnoll

10,50

0 N

MINE G

RID

N

190000mE 200000mE 210000mE 220000mE59°50�W 6°30�N

740000mN

730000mN

720000mN180000mE170000mE

770000mN

760000mN

750000mN

59°40�W

6°40�N

6°50�N

7°00�N


LateriteQuaternaryGabbro and noriteGranitic rocksDioriteMetagabbroGneissAmphiboliteMetavolcanic rocksPhyllite and schist

Alluvial / elluvial workings, goldAlluvial / elluvial workings, diamonds

Original Guyana Goldfields PLNew Guyana Goldfields PLReconaissance AreaOther Companies PL

47

The greenstones consist of a series of east-southeast trending volcanic tuffs and andesites, with minor amounts of dacite, phyllite, quartzite, and schist, intruded by theIroma-Aranka, Aurora and Katruni intrusions. The intrusions have aplite, porphyry, granodiorite and diorite phases.

Five tectonic events have been recognized on the Aurora Property (Andreazza, 1992):

1. Broad regional deformation of the greenstones producing tight parallel folds;

2. Intrusion of the Aurora Batholith accompanied by shearing along foliations, radial faulting and dykes roughly perpendicular to the general strike, and large barren quartz veins;

3. Possibly contemporaneous with (2) local areas of intense alteration including carbonate, silica, sericite chlorite, and pyrite, developed in the felsic units;

4. Intensive deformation marked by folding and shearing. Altered units were fractured so that quartz stringers and quartz veins occurred preferentially in altered units. Blue and smoky quartz, carbonate, pyrite and gold were deposited along fractures and shears in porphyries at Mad Kiss and East Walcott Hill and in the tuffs at South Mad Kiss. The event also produced dilation zones in previously developed shears at Aleck Hill, West Mad Kiss and Walcott Hill resulting in en-echelon quartz vein development;

5. The prominent 290º faulting, which may also represent a mineralizing event.

It is not possible to relate these local events to the regional Trans-Amazonian Orogeny (2.0 Ga) although they probably are part of it.

The rocks on the property include folded mafic volcanic and sedimentary rocks metamorphosed to greenschist facies. Some workers believe supracrustal rocks are folded into a synform with an axis oriented at about 140º (Andreazza, 1992). Mapping by Odan (1992) shows doubly-folded folds suggesting a complex deformation pattern. The Aurora granitic stock is intruded along the southwestern side of the property.

The property has been partially explored. Some production has come from the Aleck Hill and Mad Kiss deposits. Other deposits or occurrences that have been tested to different degrees include Rory’s Knoll, Walcott Hill, East Walcott Hill, West Mad Kiss and South Mad Kiss. More complete descriptions are given in the section on “Mineralization”.

Airborne radiometric surveys show two phases in the Aurora intrusive. On the east side there is a zone higher in total count, within the intrusive but parallel to the contact. The boundary of the entire intrusive is mapped by higher potassium values.

48

On the eastern contact of the intrusive the aeromagnetic survey shows a belt about 4 km wide of magnetic disturbance. This belt appears caused by deeper magnetic sources, probably related to the intrusive. There is a similar zone along the contact of the Iroma intrusive. This zone of magnetic disturbance is not related to the rocks mapped on the surface and continues from the volcanic-sedimentary assemblages into the Devil’s Hole gneisses. Surface mapping and drilling to date show the rocks within the zone and outside the zone have similar rock types and are characterized by low magnetic susceptibilities.

DEPOSIT TYPES

Webber (1952) described the mineralization at the Aleck Hill and Mad Kiss Mines as mesothermal. He pointed out there were no minerals identified of high-temperature, hypothermal affiliation and no textures characteristic of epithermal mineralization. Mineral associations were also characteristic of mesothermal veins. Crustification or comb structure of minerals, which is often present on the Aurora Property, is a texture characteristic of mesothermal deposits. The gold mineralization is accompanied by abundant ankeritization, and lesser pyritization and sericitization of the wall rocks. This alteration pattern is characteristic of mesothermal deposits.

The ore shoots at Aleck Hill consist of sigmoidal quartz veins in a weak shear zone. The comb textures suggest the quartz was filling an open space caused by dilation. At Mad Kiss, the mineralized shoots are not continuous for any appreciable distance. They appear a reticulated system of veinlets on two sets of fractures. Where the fractures are closely spaced the gold values approach commercial values. Descriptions by Webber (1952) suggest the deposits are in quartz veins developed by brittle fracture of the rocks.

The new discovery at Rory’s Knoll is different from other known zones of mineralization on the property. The host rock is a sequence of volcanic flows, tuffs and sediments derived from volcanic rocks with some narrow dykes of quartz-feldspar porphyry (QFP), and other intrusive rocks. The mineralization is associated with intense carbonate, sericite and quartz alteration (Kipfel, 2005). Opaque minerals are principally finely-disseminated pyrite, with lesser amounts of chalcopyrite, sphalerite and molybdenite. Gold is associated with pyrite grains. This may represent mineralization in a crackle zone associated with dykes.

The Haimarralli and Marupa occurrences are showings associated with small intrusive bodies. However, the mineralization is not well enough understood at these occurrences for it to be classified.

Although the Aurora Project is at a very early stage a few general observations on deposit types that can be made. First the gold mineralization is associated with zones of intense alteration, carbonate, sericite and quartz. The zones are sometimes associated with finely disseminated pyrite and quartz stockworks and sometimes with major quartz

49

veins. Both types of deposits are associated with dykes of QFP which appears similar to the QFP in the western part of the Aurora intrusive. Mineralized zones are limited in length along and across strike but show continuity down plunge.

With the exception of the Mad Kiss Zone, all zones of mineralization follow northerly trending structures. However, the mineralized parts of these structures can be divided into three mineralized belts trending grid east. The best defined belt is at Grid 10,000 N and includes a strong ore shoot at Aleck Hill, the southern part of West Mad Kiss, Walcott Hill, East Walcott Hill and Rory’s Knoll. The second zone is at Grid 9800 N and includes another ore shoot at Aleck Hill and the Mad Kiss area. The third zone is at Grid 9400 N and includes the southern part of Aleck Hill, South Mad Kiss and the KRD #1 Area. The grid east trending belts of mineralization are at about right angles to the contact of the Aurora intrusive and suggest a structural control related to the intrusive.

Many of the characteristics of the zones of gold mineralization are consistent with features found in and along small structural zones above large intrusive systems.

TABLE 5 GOLD MINERALIZATION CHARACTERISTICS Aurora Project Guyana Goldfields Inc.

Zone Vein Stockwork Breccia QPP

Intrusive Crackle

Zone

Aleck Hill m m m

West Mad Kiss m

North Aleck Hill m m

Walcott Hill m

East Walcott Hill m m

Rory*s Knoll m m m m

Mad Kiss m m

South Mad Kiss m m

KRD #1 m

The small structural zones contain dykes, bounded by breccia zones (rotated fragments), succeeded by crackle zones (unrotated fragments), followed by isolated fractures. Vertical zonation is more complex because there are many dykes at different levels in the same mineralized zones. In general, breccia zones cap the dykes and are followed by stockwork zones and/or isolated veins. The dykes tend to intrude pre-existing structures.

Alteration, superimposed on these systems, is also zoned. The nature of the alteration appears controlled by the type of structural system. Isolated fractures have distinct envelopes on each side of the fracture/vein. When fractures are closely spaced alteration

50

envelopes coalesce into a zone of pervasive alteration. The alteration associated with the disseminated pyrite at Rory’s Knoll could be related to a crackle zone around the QFP dykes.

Figure 5 is a diagram by Sillitoe (1989) illustrating some of the three dimensional aspects of the copper-gold deposits of the South West Pacific. Although Sillitoe tends to emphasize epithermal aspects of deposits, which are absent at Aurora, his system has a number of interesting similarities to the Central Aurora area. They are:

1. Relationship of gold mineralization to a composite porphyry stock;

2. Vertical continuity of different parts of the system;

3. Breccias and dykes showing multiple stages;

4. Multiple types of mineralization;

5. Mineralization formed at multiple levels occurring at the same topographic level.



Styles of Gold Mineralization in aTypical Western Pacific Porphyry Copper System

(After Sillitoe, 1989)December 2005

Late-mineralintrusion

Compositeporphyry stock

Outer limit ofK-silicatealteration

Au-Zn-Cu Skarn

Limestone

Cu-Au Skarn

Late-mineraldiatreme

StockworkAu-Cu

Late-mineraldome

Advancedargillic alteration

Top of Basement

Veins / breccias

Replacement /breccias

Acid-sulfate type:Au-Cu-As

3km

2km

1km

0km

1km 2km 3km

4km

Faul

t

present surface


52

MINERALIZATION

As exploration has progressed, a number of separate areas of mineralization have been identified. The locations of these areas are shown in Figure 4. The main occurrences are discussed below.

RORY’S KNOLL

Rory’s Knoll is shown on Figures 6, 7, 8 and 9. The mineralized zone extends about 250 m at N 30º W and plunges ±70˚ north. It dips 80˚ to 85˚ E and is about 100 m thick at the widest point. It has been traced by drilling to about 750 m below surface. On surface there was a small outcrop of highly altered rocks cut by quartz veins.

The host rocks are interbedded volcanic flows, tuffs and graywackes in a ductile (?) deformation zone. The intense deformation obscures the bedding and depositional structures. In Cargill’s opinion, there are significant amounts of volcanically derived sediments (graywackes) within the assemblage. Essentially the zone of mineralization occurs at a break between a hanging wall sequence of “Cuyuni” volcanic rocks and a footwall sequence of “Cuyuni” volcanic and sedimentary rocks. This contact appears along a structural break, probably a fault. Along the contact, within the mineralized zone, are narrow dykes of various types of intrusive rocks. The most obvious rock type is QFP whose texture survives the intense alteration. These QFP dykes follow the contact and serve as a focus for the alteration and mineralization. Superimposed on the deformed rocks is intense wall rock alteration. The field name for this alteration zone is “Dacite Tuff”. Petrogrphic work by Kipfel (2005 (b)) changed the name to tonalaite.

In the core logging, geologists for Guyana Goldfields have divided the alteration into: 1.) “Dacite Tuff”, 2.) “Sericite Schist” and 3.) “Altered Volcanic Rock”. These three alteration units are complex mixtures of lithologies and types of deformation with superimposed alteration and veining. The “Dacite Tuff” is the most important alteration. It is a combination of intensely altered, narrow dykes and volcanic rocks with a superimposed stockwork of quartz veins. “Dacite Tuff” contains abundant very fine- grained, disseminated sulphides. Gold is spatially associated with this unit.

020

4060

100

met

res

80

500

met

res

East

Wal

cott

Hill

Ale

ckH

ill

Wes

tM

adK

iss

Wal

cott

Hill

Mad

Kis

s

10,000 E

10,0

00 N

9,50

0 N

Sout

hM

adK

iss

Nor

thA

leck

Hill

Ro

ry�s

Kn

oll

10,5

00 N

MIN

E G

RID

N

Alte

red

volc

anic

rock

s�D

acite

� tuf

fSe

ricite

sch

ist

Cuy

uni v

olca

nic

rock

sC

uyun

i vol

cani

c an

dse

dim

enta

ry ro

cks

>3 g

/t Au

1-3

g/t A

u

Min

eral

ized

zon

e

Geo

logy

Min

eral

ized

dril

l int

erse

ctio

ns

RK

D-1

3R

KD

-32

RK

D-1

1

RK

D-1

2

RK

D-2

3

RK

D-3

1

RK

D-3

0

RK

D-2

0 RK

D-1

9

RK

D-2

6,26

aR

KD

-28

RK

D-2

4R

KD

-27

RK

D-3

3

RK

D-3

4

RK

D-1

7R

KD

-21

RK

D-1

0

RK

D-1

6

RK

D-9

RK

D-2

5R

KD

-8

RK

D-1

4

RK

D-1

0

RK

D-2

9

RK

D-1

8

RK

D-5

RK

D-4

RK

D-1

,2,3

KR

D-5

RK

D-2

2

RK

D-6

RK

D-7

EWD

-1

EWD

-6

EWD

-5

EWD

-2

EWD

-3

RK

D-3

7

RK

D-3

6

RK

D-3

8

RK

D-4

1

RK

D-4

0aR

KD

-40b

RK

D-4

0c

RK

D-4

4aR

KD

-43

RK

D-4

7aR

KD

-42

RK

D-4

4b

RK

D-4

6R

KD

-45

RK

D-3

9

EWD

-4

RK

D-3

5

EWD

-1

East

Wal

cott

Hill


Figu

re 6

Guy

ana

Gol

dfie

lds

Inc.

Aur

ora

Prop

erty

Guy

ana

Ror

y�s

Kno

ll, D

rill P

lan

(afte

r Guy

ana

Gol

dfie

lds,

Dec

embe

r 200

5)D

ecem

ber 2

005

10,6

00E

10,7

00E

10,8

00E

10,9

00E

11,0

00E

11,1

00E

10,1

00N

10,0

00N

9,90

0N

9,80

0N

9,70

0N

N

10,2

00N

Sect

ion

10,0

50N

Sect

ion

9,95

0N

Long

itudi

nal

Sect

ion

10,

750E

020

4060

100

met

res

80

Soi

l/sap

rolit

eA

ltere

d vo

lcan

ic ro

cks

�Dac

ite� t

uff

Ser

icite

sch

ist

Cuy

uni v

olca

nic

rock

sC

uyun

i vol

cani

c an

dse

dim

enta

ry ro

cks

>3 g

/t A

u1-

3 g/

t Au

Geo

logy

Min

eral

ized

dril

l int

erse

ctio

ns

RK

D-7

RK

D-6

RK

D-8

RK

D-2

5R

KD

-9R

KD

-10

RK

D-1

7R

KD

-21

RK

D-3

4

RK

D-3

4

RK

D-2

0

RK

D-2

4

RK

D-2

2R

KD

-5

265.

2m

249m

362m

354m

431m

203m

346m

435m

549m


Figu

re 7

Guy

ana

Gol

dfie

lds

Inc.

Aur

ora

Prop

erty

Guy

ana

Ror

y�s

Kno

llC

ross

Sec

tion

9,95

0NLo

okin

g N

orth

wes

t(a

fter G

uyan

a G

oldf

ield

s, D

ecem

ber 2

005)

Dec

embe

r 200

510,6

00E

10,7

00E

10,8

00E

10,9

00E

11,0

00E

11,1

00E

0m -100

m

-200

m

-300

m

Sur

face

Alte

ratio

n Zo

ne

SWN

E

0 20 40 60 100metres

80

Soil/saproliteAltered volcanic rocks�Dacite� tuffSericite schistCuyuni volcanic rocksCuyuni volcanic andsedimentary rocks

>3 g/t Au1-3 g/t Au

Geology

Mineralized drill intersections

EWD-2 RKD-11

EWD-3

RKD-12

RKD-27

RKD-41 RKD-40d

EWD-6

EWD-7

East Walcott Hill

RKD-40d

RKD-39

RKD-41




Rory�s KnollCross Section 10,050N

Looking Northwest(after Guyana Goldfields, Dec.30, 2005)

December 2005

10,700E 10,800E 10,900E 11,000E 11,100E

0m

-100m

-200m

-300m

Surface

Surface

Alteration Zone

-400m

-500m

SW NE

?

11,200E

-600m

0 20 40 60 100

metres

80

volcanics andvolcanic sediments


December 2005

NW SE10,200N 10,100N 10,000N 9,900N 9,800N

0m

-100m

-200m

-300m

RKD-29

RKD-18RKD-5

RKD-4RKD-42

RKD-15

RKD-22

RKD-10RKD-23

RKD-9RKD-8

RKD-7

RKD-6RKD-11

RKD-12

RKD-13

RKD-32

RKD-30RKD-24

RKD-17

RKD-34

RKD-27

RKD-28

MineralizedZone

EWD-2

RKD-39

RKD-36

RKD-37

RKD-41

RKD-40d

RKD-46

RKD-45RKD-2

RKD-3

RKD-47

RKD-44b

RKD-35

RKD-16

9,700N

surface

-400m

-500m

-600m

-700m

RKD-51



Rory�s KnollLongitudinal Section

10,750ELooking Northeast

(after Guyana Goldfields, 2005)

Drill hole numberMineralized intersectionDrill hole

RKD-34

57

The “Sericite Schist” underlies the “Dacite Tuff”. It appears to be a sericitized zone of intensely sheared volcanic rock and is associated with a fault separating the Cuyuni volcanic rocks from the Cuyuni volcanic and sedimentary rocks. The “Sericite Schist” is in the hanging wall above the “Dacite Tuff” unit. The “Altered Volcanic” unit includes altered rocks from the Cuyuni volcanic and sedimentary rock unit. Although not as distinctive as the other two units, the “Altered Volcanic” unit is currently regarded as a zone of similar but less intense alteration.

Petrographic work (Kipfel, 2005) indicates that most wall rock alteration consists of carbonate, sericite and quartz. The mineralized zone contains disseminated pyrite grains as well as minor amounts of chalcopyrite and molybdenite. Trace amounts of sphalerite, argentite native silver, bornite and chalcocite were reported in polished sections. There are dykes of altered intrusive rocks within the alteration zone. Most evident are QFP dykes similar to those at the Mad Kiss and East Walcott showings but there are also “granitoid” dykes of tonalite (?) composition. In some rocks there are discrete areas of a green mineral that resembles fuchsite. Optical petrographic work suggested this mineral is a very green sericite and not a true fuchsite. Gold is associated with the disseminated pyrite in zones of intense carbonatization, sericitization and silicification. There is an impression of crackling (microfracturing) associated with the zones which have better gold grades. There are few large quartz veins but there are local zones of breccias cemented with quartz and intruded by narrow zones of QFP. The gold mineralization is present at reasonably consistent grades through out large volumes of rock, rock which indicates fine, evenly distributed gold grains.

In the hanging wall of the main Rory’s Knoll Zone, narrow zones of quartz breccias are surrounded by envelopes of carbonatization and pyritization. These zones contain significant gold mineralization. In the footwall of the main Rory’s Knoll zone there are narrow quartz vein stockworks with pyrite. The East Walcott occurrence or parts of it may be one of these zones.

Along strike to the north and south the shearing and similar lithologies continue but the intense alteration and the gold values stop abruptly in about a 50 m interval between drill sections.

Mineralization was discovered in this area when Guyana Goldfields drilled a hole to test the extent of the quartz veins in the outcrop. To December 30, 2005, Guyana Goldfields had drilled 50 holes (17,381.40 m) to explore the extent of the mineralization at Rory’s Knoll.

The drilling at Rory’s Knoll to the end of 2005 is summarized in Table 6, significant drill intersections are summarized in Table 7 and examples of the drill logs with assays are presented in the Appendix.

58

TABLE 6 SUMMARY OF DRILLING PROGRAM AT RORY’S KNOLL 2004-2005


HoleNumber

Start Finish Easting Northing AZM Dip Length (m)

RKD-1 12-May-04 17-May-04 9881.99 10763.54 90 -45 46.50RKD-2 18-May-04 21-May-04 9882.06 10762.98 90 -60 114.00RKD-3 10-Jun-04 19-Jun-04 9882.21 10763.08 90 -45 305.00RKD-4 20-Jun-04 27-Jun-04 9876.28 10774.40 270 -45 261.00RKD-5 28-Jun-04 3-Jul-04 9876.17 10775.11 270 -60 248.00RKD-6 5-Jul-04 12-Jul-04 9970.98 10744.48 270 -45 265.20RKD-7 12-Jul-04 18-Jul-04 9970.97 10745.02 270 -60 249.00RKD-8 1-Aug-04 19-Aug-04 9966.01 10793.43 270 -60 354.00RKD-9 20-Aug-04 29-Aug-04 9958.79 10838.02 270 -45 362.00RKD-10 29-Aug-04 11-Sep-04 9965.08 10944.34 270 -45 382.00RKD-11 12-Sep-04 21-Sep-04 10065.86 10794.20 270 -45 282.00RKD-12 22-Sep-04 18-Oct-04 10065.79 10873.61 270 -45 372.20RKD-13 25-Sep-04 7-Oct-04 10166.64 10790.55 270 -45 366.00RKD-14 19-Oct-04 27-Oct-04 9878.64 10882.44 270 -45 291.00RKD-15 28-Oct-04 8-Nov-04 9872.95 10972.71 270 -45 308.00RKD-16 9-Nov-04 20-Nov-04 9874.59 11081.57 270 -45 411.00RKD-17 23-Nov-04 6-Dec-04 9965.30 11039.42 270 -45 431.00RKD-18 21-Nov-04 27-Dec-04 9794.11 10886.56 270 -45 284.50RKD-19 28-Nov-04 3-Dec-04 10161.86 10997.51 270 -45 216.60RKD-20 3-Dec-04 10-Dec-04 10163.08 10994.65 180 -45 336.00RKD-21 17-Jan-05 09-Feb-05 9965.22 11049.32 270 -65 346.00RKD-22 18-Jan-05 29-Jan-05 9990.43 10618.09 105 -55 432.00RKD-23 10-Feb-05 15-Feb-05 10020.52 10874.19 274 -60 303.00RKD-24 13-Feb-05 25-Feb-05 10018.39 10972.69 274 -60 435.00RKD-25 16-Feb-05 20-Feb-05 9960.12 10817.67 270 -90 203.00RKD-26 24-Feb-05 04-Mar-05 10066.21 10963.52 274 -50 238.10RKD-27 01-Mar-05 20-Mar-05 10027.45 11060.46 280 -60 620.00RKD-28 07-Mar-05 20-Mar-05 10066.21 10963.52 280 -60 576.00RKD-29 22-Mar-05 25-Mar-05 9812.19 10828.55 275 -42 119.00RKD-30 21-Mar-05 03-Apr-05 10070.13 10922.49 280 -62 506.00RKD-31 26-Mar-05 30-Mar-05 10148.66 10948.95 275 -78 182.00RKD-32 31-Mar-05 11-Apr-05 10176.60 10911.95 275 -66 413.00RKD-33 05-Apr-05 15-Apr-05 10008.73 11193.55 280 -61 464.00RKD-34 12-Apr-05 29-Apr-05 9963.54 11085.15 280 -58 549.00

59

TABLE 6 SUMMARY OF DRILLING PROGRAM AT RORY’S KNOLL 2004-2005


HoleNumber

Start Finish Easting Northing AZM Dip Length (m)

RKD-35 15-Sept-05 26-Sept-05 9900.00 11000.00 277 -60 371.20 RKD-36 28-Sept-05 11-Oct-05 10150.00 11050.00 279 -65 635.00RKD-37 30-Sept-05 24-Oct-05 10200.00 11100.00 285 -70 1067.60RKD-38 13-Oct-05 18-Oct-05 10113.40 10943.99 262.3 -69.7 243.00RKD-39 20-Oct-05 03-Nov-05 10150.00 11070.00 270 -45 554.00RKD-40A 26-Oct-05 30-Oct-O5 10052.79 11108.23 270 -58 184.00RKD-40B 31-Oct-05 31-Oct-05 10052.79 11108.23 280 -69 32.00RKD-40C 31-Oct-05 31-Oct-05 10052.79 11108.23 280 -69 10.00RKD-40D 01-Nov-05 17-Nov-05 10052.79 11108.23 285 -70 805.00RKD-41 05-Nov-05 27-Nov-05 10100.00 11150.00 278 -64 745.00RKD-42 20-Nov-05 25-Nov-05 9935.00 10830.00 260 -50 202.00RKD-43 24-Nov-05 27-Nov-05 9935.00 10875.00 260 -51 239.50RKD-44 28-Nov-05 02-Dec-05 9935.00 10885.00 270 -62 310.00RKD-45 29-Nov-05 01-Dec-05 10000.00 10770.00 270 -50 171.00RKD-46 02-Dec-05 06-Dec-05 11000.00 10800.00 270 -60 228.00RKD-47 03-Dec-05 07-Dec-05 9935.00 10895.00 270 -68 313.00Sub-Total (m) 17,381.40

TABLE 7 SIGNIFICANT INTERSECTIONS(1) RORY’S KNOLL 2004-2005


HoleNumber

From(m)

To(m)

Intersection(m)

Grade(g/t)

RKD-1 0.00 4.00 4.00 3.71 4.00 9.00 5.00 10.14

11.00 13.00 4.00 2.39 15.00 24.10 9.10 13.01 27.00 29.00 2.00 9.15 30.00 40.00 10.00 1.95 45.00 46.50 1.50 6.48

RKD-2 0.00 7.50 7.50 2.05 18.00 21.00 3.00 3.95 27.00 32.00 5.00 2.06 46.70 48.60 1.90 22.02

60



HoleNumber

From(m)

To(m)

Intersection(m)

Grade(g/t)

67.50 72.50 5.00 2.42 92.3 93.00 0.70 26.89

RKD-3 0.00 5.35 5.35 5.06 5.35 21.00 15.65 8.55

28.50 43.50 15.00 3.12 34.65 51.00 16.35 2.40 65.00 68.00 3.00 2.77

RKD-4 0.00 6.50 6.50 4.35 15.00 27.00 12.00 3.49

Redrilled 33.00 36.00 4.00 5.00 37.50 40.98 3.48 3.33 43.50 53.49 9.99 1.05

RKD-5 No Significant Intersections RKD-6 5.00 16.00 11.00 5.46

24.00 26.00 2.00 5.02 32.00 34.00 2.00 3.01 36.00 38.00 2.00 2.85 77.00 81.00 4.00 5.05

146.00 148.00 2.00 3.30 RKD-7 3.00 16.60 13.60 3.74

32.00 48.00 16.00 7.68 79.00 80.00 1.00 6.10

RKD-8 6.00 16,30 10.30 6.66 16.30 39.00 22.70 4.07 58.50 64.50 6.00 1.86 67.50 74.00 6.50 7.94 82.00 94.00 12.00 1.52

100.00 116.00 16.00 2.89 121.00 136.00 15.00 2.57 147.00 171.00 24.00 7.23

RKD-9 45.50 52.32 6.82 4.06 60.10 66.50 6.4 4.31 68.10 101.55 33.45 6.31

117.00 168.15 51.15 1.917

61



HoleNumber

From(m)

To(m)

Intersection(m)

Grade(g/t)

182.00 197.00 15.00 7.52 209.00 211.00 2.00 6.75

RKD-10 131.00 133.00 2.00 5.24 183.00 193.00 10.00 8.66 198.00 215.00 17.00 2.78 2.22.00 228.00 6.00 8.34 247.00 256.00 9.0 3.94 253.00 292.00 39.00 3.83

RKD-11 108.00 111.30 3.30 6.30 169.00 170.00 1.00 7.73 207.35 227.00 19.65 5.21

RKD-12 67.85 76.00 8.15 4.61 188.5 196.00 7.5 2.95

RKD-13 97.50 99.00 1.50 7.63 RKD-14 143.00 153.00 10.00 3.46

157.00 168.00 11.00 4.37 171.00 174.00 3.00 4.05

RKD15 No Significant Intersections RKD-16 No Significant Intersections RKD-17 288.00 289.00 1.00 27.17

304.00 306.3 2.3 9.50 308 320.00 12.00 3.14

332.00 340.00 8.00 7.08 358.00 392.00 34.00 5.22

RKD-18 No Significant Intersections Rkd-19 125.00 129.50 4.50 5.64 RKD-20 No Significant Intersections RKD-21 158.6 164.00 5.40 5.05 RKD-22 143.00 149.00 6.00 11.75

171.00 175.00 4.00 3.94 181.00 219.00 38.00 6.81 241.00 271.00 30.00 4.10

RKD-23 210.00 220.00 10.00 1.69 RKD-24 140.00 144.27 2.27 9.14

62



HoleNumber

From(m)

To(m)

Intersection(m)

Grade(g/t)

199.00 201.00 2.00 10.89 320.00 340.00 20.00 2.94 350.00 386.00 36.00 4.98

RKD-25 122,00 142.00 20.00 5.69 RKD-26 177.09 182.90 5.81 5.10

232.50 238.10 5.60 20.54 RKD-27 65.00 86.03 21.03 2.93

432.20 468.00 35.80 4.80 478.00 496.00 18.00 1.67 501.00 560.00 59.00 1.86

RKD-28 395.00 415.00 20.00 2.18 442.00 452.00 10.00 8.72

RKD-29 No Significant Intersections RKD-30 196.00 202.00 6.00 2.40

210.21 224.43 14.22 5.89 239.00 252.85 13.85 2.92 296.00 2982.00 2.00 4.37 348.00 358.00 10.00 2.28 374.00 380.00 6.00 7.62

RKD-31 No Significant Intersections RKD-32 No Significant Intersections RKD-33 393.86 397.00 3.14 1.81

402.4 405.5 3.10 5.13 RKD-34 209.00 215.00 6.00 6.20

408.00 430.00 22.00 4.92

458.00 487.65 29.65 8.09 (532.50)

RKD-35 No Significant Intersections RKD-36 No Significant Intersections RKD-37 856 874 18 4.69

884 903 19 3.67

RKD-37 946 951 5 5.98 1013 1018 5 5.39

RKD-38 131.00 133.00 2.00 6.53

63



HoleNumber

From(m)

To(m)

Intersection(m)

Grade(g/t)

RKD-39 264.8 266.8 2.0 3.00 330.0 342.0 12.0 2.84 371.0 382.0 11.0 11.87 384.0 401.0 17.0 4.89 422.0 425.0 3.0 5.32 427.0 429.0 2.0 1.48 454.0 460.0 6.0 2.39 471.0 475.0 4.0 5.53

RKD-40d 459.60 461.70 2.10 7.33 686.0 689.0 3.0 2.43

RKD-41 661 679 18 8.78 701 720 19 7.29

RKD-42 47.0 56.5 9.5 7.42 85.0 95.5 10.5 10.42

134.0 145.0 11.0 8.24 RKD-43 27.0 32.0 5.0 1.53

127.0 148.0 21.0 3.99 172.0 200.0 28.0 2.58

RKD-44B 6.0 13.5 7.5 1.17 196.0 205.0 9.0 4.91 260.5 271.0 10.5 7.05

RKD-45 12.0 29.35 17.35 1.73 39.5 77.0 37.5 3.78

112.0 132.0 20.0 3.64 148 150.0 2.0 8.85

RKD-46 39.0 49.5 10.5 6.38 67.5 228.0 160.5 1.66

RKD-47 216.0 229.0 13.0 5.65 265.0 289.0 24.0 5.51

Note:5 gram metres is the minimum significant intersection

64

ALECK HILL

Aleck Hill Mine is shown on Figures 10, 11 and 12. The mineralized zone extends for ±800 m along strike with better grade material, and underground workings from the previous production extend about 400 m (Figures 10 and 12). The mineralization is in a zone of pyrite-rich quartz-veins that strike about 150º and dip sub-vertically. The zone of quartz veins is up to 20 m wide enclosed in an intensely altered volcanic rock. The altered wall rocks are buff-coloured to light green and appear as sericitized and carbonatized volcanic rocks in hand specimen. Extensive fracturing cemented with calcite is frequently present.

Work, prior to 2003, is summarized in Cargill (2003).

The current program at Aleck Hill included drilling programs in bedrock and in saprolite. The bedrock program consisted of 14 holes (3,103.3 m) summarized in Table 8 and the saprolite program 26 holes (1,932.50 m) summarized in Table 9. The significant intersections are presented in Tables 10 and 11.

The new work has established a coherent zone of gold mineralization in the saprolite and improved the definition of the main zone. However, the work did not pursue the higher grade shoots at depth as was recommended in Cargill (2003).

TABLE 8 ROCK DRILLING PROGRAM ALECK HILL 2004-2005 Aurora Project Guyana Goldfields Inc.

Grid Coordinates HoleNumber

Date Started

Date Completed Northing Easting

AZM(Grid)

Dip Total Depth (m)

AHD-1 11-Feb-04 27-Feb-04 9997.60 9700.37 90 -65 258.80

AHD-2 28-Feb-04 13-Mar-04 9998.00 9664.82 90 -65 314.00

AHD-3 12-May-05 17-May-05 10000.63 9769.91 90° -55° 187.00

AHD-4 14-Mar-04 27-Mar-04 9754.13 9650.42 90 -60 297.00

AHD-5 28-Mar-04 4-Apr-04 9752.79 9690.16 90 -57 222.00

AHD-6 16-May-05 26-May-05 10050.26 9763.23 90 -55 268.00

AHD-7 17-May-05 27-May-05 9997.52 9688.19 90 -80 418.00

AHD-8 29-May-05 04-Jun-05 9948.43 9695.59 90 -60 306.00

AHD-9 04-Jun-05 08-Jun-05 9946.84 9751.35 90 -60 171.00

AHD-10 08-Jun-05 12-Jun-05 10099.03 9779.99 90 -60 151.00

AHD-11 11-Jun-05 15-Jun-05 10051.22 9791.06 90 -61 132.00

AHD-12 12-Jun-05 14-Jun-05 9899.47 9747.94 90 -60 150.00

AHD-13 14-Jun-05 18-Jun-05 9850.87 9744.49 90 -60 131.00

65

TABLE 8 ROCK DRILLING PROGRAM ALECK HILL 2004-2005 Aurora Project Guyana Goldfields Inc.


Date Started


AZM(Grid)

Dip Total Depth (m)

AHD-14 15-Jun-05 17-Jun-05 9796.58 9741.61 90 -60 97.50

Total 3,103.30

0 20 40 60 100

metres

80

>3 g/t Au1-3 g/t Au


Underground workings

Historic drill holeGuyana Goldfields drill hole

AD-01

AD-42

AD-02

AD-39

AD-27AD-03

AD-08AD-05

AD-21

AD-04AD-51

AD-31

AD-6AD-18

AD-56

AD-07

AD-35

AD-09

AD-38

AD-11

AD-16

AD-13

AAH-16

AAH-15

AAH-8

AAH-7AAH-24

AAH-23

AAH-22AAH-6

AAH-4

AAH-21AAH-5

AAH-13

AAH-12 AAH-4

AAH-25AAH-26 AAH-20

AAH-11AAH-3

AAH-19

AAH-18

AAH-2AAH-10

AAH-17AAH-1

AAH-9

AHD-6

AHD-7

AHD-2 AHD-1

AHD-4 AHD-5

AHD-3

SPD-23SPD-24

SPD-5,8SPD-21

SPD-25,26

SPD-9,10SPD-11

SPD-22

SPD-14,15

SPD-1

SPD-2

AHD-14

SPD-20SPD-19 SPD-18

AHD-13

AHD-10

AHD-11

AHD-8

AHD-9

AHD-12 SPD-12,13





Aleck Hill Plan(after Guyana Goldfields, 2005)

December 2005

N

500 metres

EastWalcott Hill

AleckHill

WestMadKiss

WalcottHill

MadKiss

10,000 E10,000 N

9,500 N

SouthMadKiss

NorthAleck

Hill

Rory�sKnoll

10,500 N

MINE GRID

N

Aleck HillOpen Cut

10,000 E

10,100 N

10,000 N

9,900 N

9,800 N

9,700 N

9,600 N

10,200 N

Cross Section 10,000N

Longitudinal Section9,800E

9,900 E

9,800 E9,700 E9,600 E

0 20 40 60 100

metres

80

>3 g/t Au1-3 g/t Au

Mineralized zone



AHD-2AD-51

AHD-7AHD-1

AHD-3

AD-21

AD-4

AAH-18

AAH-2

AAH-11

SPD-4 SPD-9SPD-8saprolite


surface




Aleck HillCross Section 10,000 N

Looking Northwest(after Guyana Goldfields, 2005)

December 2005

SW NE

0m

-100m

9,600 N 9,700 N 9,800 N 9,900 N

+100m

-200m

-300m

?

?

020

4060

100

met

res

80

AD

-2

AD

-39

AD

-27

AD

-3

AD

-8

AD

-4

AD

-3

AD

-31

SP

D-4

SP

D-9

SP

D-3

SP

D-2

SP

D-2

3

AA

H-1

1

SP

D-2

4S

PD

-10

SP

D-1

1

SP

D-1

2

SP

D-1

3S

PD

-22

AA

H-1

2A

AH

-26

AA

H-5

AA

H-6

SP

D-1

4

SP

D-1

5S

PD

-16

SP

D-1

7

AA

H-2

3A

AH

-15

AA

H-1

5 SP

D-1

8

AA

H-2

0A

AH

-19

AD

-9A

D-1

3

AD

-16 AD

-11

AD

-38

AD

-35

AD

-7

AD

-18

AD

-57

AD

-21

AH

D-1

0

AH

D-1

1

AH

D-6

AH

D-1

3

AH

D-5

AH

D-4

AH

D-8

AH

D-1

AH

D-2

AH

D-9

AD

-6

AD

-56

AH

D-2

SP

D-1

SP

D-9


4.5

/1.0

5.7

/3.0

NS

V

4.1

/2.0

6.8

/5.0

5.1

/2.3

3.9

/7.5

46

.0/4

.0

5.0

/42

.7

5.5

/6.0

42

.7/5

.0

NS

V

Figu

re 1

2G

uyan

a G

oldf

ield

s In

c.A

uror

a Pr

oper

tyG

uyan

aA

leck

Hill

Long

itudi

nal S

ectio

n 9,

800

ELo

okin

g N

orth

east

(afte

r Guy

ana

Gol

dfie

lds,

200

5)D

ecem

ber 2

005

NW

SE

0m -100

m

10,2

00 N

+100

m

-200

m

sapr

olite

volc

anic

s an

dvo

lcan

ic s

edim

ents

surfa

ce

10,1

00 N

10,0

00 N

9,90

0 N

9,80

0 N

9,70

0 N

9,60

0 N

4th

Leve

l

Ope

n P

it

Shaf

t

2

25

10

5

Cro

ss-S

ectio

n10

,000

N

2

Min

eral

ized

sho

ot in

und

ergr

ound

wor

king

s

Min

eral

ized

Zon

e fro

m D

enis

on D

rillin

g(th

ickn

ess

cont

ours

- m

etre

s)

His

toric

Dril

l Hol

e P

ierc

e P

oint

, Hol

e N

umbe

rM

iner

aliz

ed, N

on-m

iner

aliz

ed

Guy

ana

Gol

dfie

lds

Dril

l Hol

e P

ierc

e P

oint

, Hol

e N

umbe

r

Dril

l Int

erse

ctio

n (g

/t A

u / m

etre

s)

No

Sig

nific

ant V

alue

s

Old

Und

ergr

ound

Min

e W

orki

ngs

22

55

1010

10

69

TABLE 9 SAPROLITE DRILLING PROGRAM ALECK HILL 2004-2005 Aurora Project Guyana Goldfields Inc.

Grid Coordinates Hole

Number Date

StartedDate

Completed Northing Easting

Azimuth (Grid)

Dip Total Depth (m)

SPD-1 21-May-04 27-May-04 10100.00 9820.00 90 -45 45.50

SPD-2 28-May-04 3-Jun-04 10099.36 9824.89 90 -55 176.00

SPD-3 3-Jul-04 1-Aug-04 9997.16 9802.28 90 -45 40.00

SPD-4 5-Aug-04 Abandoned 9997.17 9801.58 90 -70 62.00

SPD-5 17-Apr-05 19-Apr-05 10055.55 9820.56 90° -45° 55.00

SPD-6 20-Apr-05 20-Apr-05 10055.77 9819.85 90° -65° 40.00

SPD-7 20-Apr-05 21-Apr-05 10055.81 9819.21 90° -65° 44.00

SPD-8 22-Apr-05 25-Apr-05 10004.21 9804.77 90° -45° 72.00

SPD-9 25-Apr-05 27-Apr-05 10004.25 9803.91 90° -65° 67.00

SPD-10 28-Apr-05 30-Apr-05 9975.40 9783.36 90° -45° 79.50

SPD-11 30-Apr-05 01-May-05 9975.47 9782.74 90° -60° 85.00

SPD-12 02-May-05 03-May-05 9900.09 9780.11 90° -45° 45.00

SPD-13 03-May-05 05-May-05 9900.00 9783.00 90° -60° 62.00

SPD-14 01-May-05 04-May-05 9851.50 9781.50 90° -45° 71.50

SPD-15 04-May-05 08-May-05 9849.96 9779.83 90° -60° 82.00

SPD-16 06-May-05 08-May-05 9800.00 9750.00 90° -45 84.00

SPD-17 08-May-05 10-May-05 9800.00 9750.00 90° -60 85.00

SPD-18 09-May-05 11-May-05 9755.72 9761.97 90° -45 62.00

SPD-19 11-May-05 16-May-05 9755.76 9737.64 90° -45 98.00

SPD-20 20-Jun-05 25-Jun-05 9755.84 9750.08 90 -60 81.00

SPD-21 23-Jun-05 25-Jun-05 10050.16 9879.28 270 -45 72.00

SPD-22 26-Jun-05 28-Jun-05 9902.34 9831.21 270 -45 80.00

SPD-23 26-Jun-05 28-Jun-05 9975.00 9780.00 90 -45 81.00

SPD-24 28-Jun-05 29-Jun-05 9975.00 9780.00 90 -60 95.00

SPD-25 29-Jun-05 01-Jul-05 10030.82 9804.67 90 -45 78.00

SPD-26 01-Jul-05 03-Jul-05 10030.82 9803.94 90 -65 90.00

Total 1,932.50

70

TABLE 10 SIGNIFICANT(1) DRILL (2004-2005) ROCK INTERSECTIONS ALECK HILL

Aurora Project Guyana Goldfields

HoleNumber

From(m)

To(m)

Intercept(m)

Grade(g/t)

AH-1 0.0 5.0 5.0 2.5 199.0 203.0 4.0 46.0 221.0 224.0 3.0 8.0 AH-2 184.6 185.9 1.3 16.3 211.0 214.2 3.2 5.0 216.0 217.0 1.0 9.7 235.0 238/0 3.0 2.3 264.0 277.0 13.0 3.2 279.0 285.7 6.7 7.9 AH-3 0.0 3.00 3.0 3.3 10.5 15.0 4.5 4.8 71.1 76.0 4.9 2.3 82.0 91.0 9.0 17.8 AH-4 114.3 116.6 2.3 5.08 AH-5 1.0 2.0 1.0 6.2 20.0 25.0 5.0 6.8 AH-6 0.0 2.0 2.0 2.8 AH-7 0.0 4.5 4.5 2.0 245.5 247.0 1.5 8.2 280.0 289.0 9.00 2.7 296.5 298.0 1.5 8.7 AH-8 144.0 150.0 6.0 2.3 166.5 174.0 7.5 3.9 AH-9 31.0 34.0 4.0 26.7 103.5 109.5 6.0 5.5 AH-10 70.0 71.0 1.0 4.5 AH-11 0.0 3.0 3.0 4.7 97.5 100.5 3.0 5.7 AH-12 No Significant Intersections AH-13 0.0 7.5 7.5 8.8 114.0 116.0 2.0 4.1 AH-14 33.0 37.5 4.5 6.9

71

TABLE 10 SIGNIFICANT(1) DRILL (2004-2005) ROCK INTERSECTIONS ALECK HILL

Aurora Project Guyana Goldfields

HoleNumber

From(m)

To(m)

Intercept(m)

Grade(g/t)

60.0 63.0 3.0 5.1 64.5 75.0 10.5 11.3 5 gram metres is the minimum significant intersection

TABLE 11 SIGNIFICANT(1) DRILL (2004-2005) SAPROLITE INTERSECTIONS ALECK HILL


HoleNumber

From(m)

To(m)

Intercept (m)

Grade(g/t)

SPD-1 No significant intersections SPD-2 No significant intersections SPD-3 0.0 14.5 14.5 4.06 34.0 40.0 6.0 10.9 SPD-4 0.0 9.0 9.0 2.5 SPD-5 36.0 46.0 10.0 30.8 SPD-6 0.0 10.5 10.5 2.0 SPD-7 0.0 6.0 6.0 3.4 SPD-8 18.0 48.5 30.5 5.2 SPD-9 21.5 29.0 7.5 26.7 SPD-10 0.0 4.5 4.5 1.1 SPD-11 0.0 4.5 4.5 5.8 66.0 73.5 7.5 5.2 SPD-12 19.5 25.5 6.0 10.0 36.0 40.5 4.5 16.3 43.0 45.0 2.0 19.5 SPD-13 25.0 29.5 4.5 11.5 SPD-14 No significant intersections SPD-15 29.5 38.0 8.5 11.7 44.5 49.0 4.5 5.6 SPD-16 37.5 39.0 1.5 16.2 SPD-17 No significant intersections SPD-18 31.0 38.5 7.5 7.0 SPD-19 No significant intersections SPE-20 67.5 72.0 4.5 34.9

72

TABLE 11 SIGNIFICANT(1) DRILL (2004-2005) SAPROLITE INTERSECTIONS ALECK HILL


HoleNumber

From(m)

To(m)

Intercept (m)

Grade(g/t)

SPD-21 38.0 47.0 9.0 9.4 SPD-22 14.0 26.0 12.0 13.3 SPD-23 0.0 15.0 15.0 11.8 SPD-24 0.0 10.5 10.5 5.0 16.5 21.0 4.5 10.1 SPD-25 0.0 21.0 21.0 4.1 49.5 63.0 13.5 11.4 SPD-26 0.0 6.0 6.0 2.7 5 gram metres is the minimum significant intersection

EAST WALCOTT HILL

East Walcott Hill is located about 150 m north of Walcott Hill (Figures 6 and 8). Previous work by Denison included 7 trenches and 3 diamond drill holes. The trenches cut zones of low-grade mineralization up to 17 m wide. The drill holes cut zones of low-grade mineralization up to 28 m of 1.84 g/t Au (Cargill, 2003). Previous mapping indicated the mineralization occurred in altered, mafic-volcanic rock. Mineralization reported in the drill hole summaries (Andreazza, 1992) noted that the gold values occurred in quartz veins and veinlets.

Guyana Goldfields program consisted of six diamond drill holes summarized in Table 12 and Table 13. These holes have defined a quartz vein stockwork 50 m long and about 15 m wide. It is open at depth and along strike in both directions. The geometry of the zone suggests that it might be an up dip extension of the Rory’s Knoll Zone (Figures 6 and 8).

The relationship between the zone defined in the current program and the one defined by Denison is not clear. The current zone may be a separate zone sub parallel to the one defined by Denison.

Cargill considers that further testing is justified in this area.

73

TABLE 12 EAST WALCOTT DRILL PROGRAM 2004-2005 Aurora Project Guyana Goldfields Inc.


Number Date

StartedDate


Azimuth (Grid)

Dip Total Depth (m)

EWD-1 04-Jun-04 09-Jun-04 10091.94 10507.41 65k -50k 212.00EWD-2 6-Jul-04 20-Aug-04 10016.04 10581.53 60k -40k 225.00EWD-3 21-Aug-04 23-Sep-04 10015.35 10580.60 60k -65k 237.90EWD-4 28-Oct-04 8-Nov-04 10094.16 10594.11 270k -45k 198.75EWD-5 9-Nov-04 23-Nov-04 10094.32 10647.09 270k -45k 213.05EWD-6 24-Nov-04 9-Dec-04 10041.76 10651.26 270k -45k 176.90

Total 1,263.60 (m)

TABLE 13 SIGNIFICANT(1) INTERSECTIONSEAST WALCOTT DRILL PROGRAMAurora Project Guyana Goldfields Inc.

Hole

Number From(m)

To(m)

Intercept (m)

Grade(g/t)

EW-1 29.0 30.0 1.0 7.0 65.0 65.5 0.5 18.7 EW-2 20.0 28.0 8.0 6.9 31.0 39.0 8.0 3.1 59.0 68.1 9.1 5.1 86.0 90.0 4.0 2.9 EW-3 149.0 151.3 2.3 17.3 174.0 178.0 4.0 6.3 194.0 197.5 3.5 29.1 199.4 202.5 3.1 7.9 204.5 207.5 3.0 5.2 EW-4 92.0 94.5 2.5 2,589.2 103.0 104.0 1.0 9.6 134.0 137.0 3.0 3.8 EW-5 No Significant Intersections EW-6 0.0 4.5 4.5 10.4 6.0 14.5 8.5 4.5 38.9 40.0 1.1 7.4 41.0 43.0 2.0 3.7 48.9 51.0 2.1 5.8

74

TABLE 13 SIGNIFICANT(1) INTERSECTIONSEAST WALCOTT DRILL PROGRAMAurora Project Guyana Goldfields Inc.

Hole

Number From(m)

To(m)

Intercept (m)

Grade(g/t)

79.7 79.7 5.0 7.5 85.6 87.6 2.0 4.0 145.5 148.0 2.5 3.6

(1) 5 gram metres is the minimum significant intersection

WEST MAD KISS

The West Mad Kiss prospect is 200 m west of Mad Kiss and 250 m northeast of Aleck Hill (Figure 4). West Mad Kiss includes a southern area tested by West Mad Kiss (WMK) Tunnels 1 and 2 and Denison diamond drill hole AD-46, and a northern area tested by West WMK Tunnel 3 and Denison diamond drill hole AD-40 (Figure 13). Denison did not think that the two areas were geologically related (Andreazza, 1992). A more detailed description of Denison’s work is included in Cargill (2003).

In the current program the tunnels were remapped and 210 samples were collected from the back and the side walls for 200 m of tunnels. The most significant results are shown in Figure 13. There has not been any drilling as part of the current program.

All the tunnels are in saprolite and gold values may include surface enrichment. However, there are two zones with significant gold values across significant distances. Cargill considers that this area warrants additional exploration. A possible approach would be to use geophysical surveys to define specific drill targets.

0 10 20 30 50

metres

40

AD-46

AD-40

grams per tonne Goldmetres


MKD-13

MKD-11


>3 g/t Au1-3 g/t Au

Mineralized zone

Mineralized sample




7.2216.4



West Mad Kiss Plan(after Guyana Goldfields, 2005)

December 2005

10,000 E

10,100 N

10,000 N

N

2.345.0

5.855.0

8.2611.0

3.122.1

0.190.8 0.11

1.0

0.300.8

0.507.0

7.2216.4

13.28.0

2.281.4

8.316.1

500 metres

EastWalcott

Hill

AleckHill

West Mad Kiss

WalcottHill

MadKiss

10,000 E

10,000 N

9,500 N

SouthMadKiss

NorthAleck

Hill

Rory�sKnoll

10,500 N

MINE GRID

N

2.281.4

TunnelWMK3

TunnelWMK2

TunnelWMK1

10,050 E 10,100 E 10,150 E

9,950 N

10,050 N

76

WALCOTT HILL

Previous work for the Walcott Hill occurrence is described in Cargill (2003). Denison mapped and sampled existing adits and trenches. They reported gold in quartz veins up to 0.6 m wide, striking 320º and dipping sub-vertically. The current exploration program included cleaning out, re-mapping and re-sampling the three adits and initially drilling three holes on the same section as the Denison drill hole and subsequently eight drill holes along strike (Figure 14.).

The new sampling in the adits showed a zone of significant gold mineralization about 35 m along strike in adits WH-2 and WH-3. The width of this zone is difficult to establish but appears to be 10 m to 12 m. Adit WH-1 has a zone of mineralization about 5 m wide and 8 to 10 m long. If the zone of mineralization in the two adits is the same zone, the total length would be about 150 m.

Denison’s drill hole (AD-33) is roughly on the boundary between adits WHA-3 and WHA-2 (Figure 15). It had one good intersection, 1.25 g/t Au over 11 m, but core recovery was poor (Figure 15). Guyana Goldfield’s drill hole WHD-1 was under the Denison hole and had an intersection of 1.67 g/t Au over 7.8 m. If the intersections in the two holes are joined, the mineralized zone is almost vertical. However, the mineralized zone was not intersected in WHD-3 which, although the hole was drilled in the opposite direction, should pass through the mineralization. Hole WHD-2 is drilled below WHD-3 and does not appear to be long enough to penetrate the proposed zone. The additional holes along strike WHA-4 to WHA-11 had scattered intersections but did not define a continuous primary zone corresponding to the surface anomaly. At present no additional work is envisioned for Walcott Hill.

0 10 20 30 50

metres

40

Historic underground workingsHistoric trenchHistoric drill holeGuyana Goldfields drill hole

3.1318.0

>3 g/t Au1-3 g/t Au

Mineralized sample



AD-33

WHD-1

WHD-3 WHD-2

Cross Section 10,075 N

WHD-5

WHD-10WHD-6

WHD-11

WHD-4

WHD-8

WHD-9

WHD-7





Walcott Hill Plan(after Guyana Goldfields, 2005)

December 2005500 metres

EastWalcott Hill

AleckHill

WestMadKiss

WalcottHill

MadKiss

10,000 E

10,000 N

9,500 N

SouthMadKiss

NorthAleckHill

Rory�sKnoll

10,500 N

MINE GRID

N

N

10,100 N

10,000 N

1.1711.7

PortalWH3

PortalWH2

PortalWH2

PortalWH1

1 X-Cut N

1 X-Cut S

2 X-Cut S

2 X-Cut N

3 X-Cut S

3 X-Cut N

4 X-Cut S

1.7616.9

2.7635.0

2.4816.0

7.818.0

3.1318.0

0.9012.0

10,050 N

9,950 N

10,300E 10,350E 10,400E

10,450E

SurfaceAnomalousZone

10,150 N

9,900 N

10,400E

0 10 20 30 50

metres

40

>3 g/t Au1-3 g/t Au

Mineralized zone

Drill intersection




7.2216.4

AD-33WHD-1

WHD-3

WHD-2

surface

saprolite


WHD-4




Walcott HillCross Section 10,075N

Looking Northwest(after Guyana Goldfields, 2005)

December 2005

1.2511.0

10,300E 10,350E 10400E 10,450E 10,500E

SW NE

1.677.87

+100m

+50m

0m

-50m

-100m

-150m

?

79

TABLE 14 WALCOTT DRILLING PROGRAM 2004-2005 Aurora Project Guyana Goldfields Inc.

Hole

Number Date

StartedDate

Completed Grid Coordinates

Northing Easting Azimuth

(Grid)Dip Total

Depth (m)

WHD-1 3-Mar-04 30-Jun-04 10048.63 10285.62 77 -65 257.9WHD-2 03-Jul-05 06-Jul-05 10089.99 10473.74 270 -60 226.0WHD-3 08-Jul-05 13-Jul-05 10090.33 10422.67 270 -60 249.0WHD-4 18-Nov-05 21 Nov O5 10064.00 10369.00 78 -62 101.00WHD-5 21-Nov-05 22 Nov 05 10018.00 10373.00 90 -48 71.00WHD-6 23-Nov-05 24 Nov 05 9975.00 10385.91 90 -53 92.00WHD-7 25-Nov-05 27 Nov 05 10119.00 10326.00 90 -45 152.00WHD-8 26-Nov-05 04 Dec 05 10169.00 10338.00 90 -53 85.00WHD-9 28-Nov-05 01 Dec 05 10170.49 10336.02 78 -60 150.00WHD-10 01-Dec-05 03 Dec 05 9975.00 10328.00 90 -53 150.00WHD-11 03-Dec-05 05 Dec 05 9872.00 10318.18 90 -60 150.00

Total 1,683.90

TABLE 15 SIGNIFICANT(1) DRILL INTERSECTIONS WALCOTT 2004-2005


Drill Hole From(m)

To(m)

Intercept (m)

Grade(g/t)

WHD-1 143.06 147.59 4.53 2.4 WHD-2 115.79 120.37 4.58 2.1 WHD-3 No significant assays WHD-4 No significant assays WHD-5 33.0 41.0 8.0 5.42 WHD-6 No significant assays WHD-7 62.9 68.0 5.1 5.29 WHD-8 No significant assays WHD-9 No significant assays WHD-10 104 106.5 2.5 2.08 WHD-11 No significant assays 5 gram metres is the minimum significant intersection

80

SOUTH MAD KISS

The South Mad Kiss area is about 700 m east of Aleck Hill (Figure 4). Previous sampling from the trenches indicated the gold mineralization was discontinuous and spiky. Denison (Andreazza, 1992) tested the zone with seven diamond drill holes that contained narrow gold intersections with little apparent continuity (Figure 16).

The current program of Guyana Goldfields consisted of eight drill holes (Table 16) to test the soil anomaly. The significant drill intersections are given in Table 17 and shown on Figure 15. The new mineralized zones suggest: 1.) the mineralization in Dennison drill holes AD-49 and AD-50 continues to the north and not the south; 2.) the mineralization in Denison drill holes AD-48 and AD-52 continues to the south east; and 3.) that there is some mineralization associated with the zone where Aleck Hill swings toward South Mad Kiss.

TABLE 16 SOUTH MAD KISS DRILLING PROGRAM 2004-2005 Aurora Project Guyana Goldfields Inc.

Hole

Number Date

StartedDate

Completed Grid Coordinates

Northing Easting Azimuth

(Grid)Dip Total

Depth (m)

SMKD-1 26-Oct-05 30-Oct-05 9478.00 10102.00 90 -45 102.00

SMKD-2 30-Oct-05 1-Nov-05 9437.00 10115.00 90 -45 95.00

SMKD-3 2-Nov-05 4-Nov-05 9332.00 10076.50 90 -45 102.00

SMKD-4 4-Nov-05 6-Nov-05 9282.00 10187.00 90 -45 101.00

SMKD-5 6-Nov-05 8-Nov-05 9144.00 10056.50 90 -60 102.00

SMKD-6 9-Nov-05 12-Nov-05 9210.00 10001.00 90 -80 141.00

SMKD-7 12-Nov-05 14-Nov-05 9317.00 9909.00 90 -80 90.00

SMKD-8 14-Nov-05 18-Nov-05 9616.00 10071.00 90 -60 90.00

Total 823.00

81

TABLE 17 SIGNIFICANT(1) DRILL INTERSECTIONS WEST MAD KISS 2004-2005


HoleNumber

From(m)

To(m)

Intercept (m)

Grade(g/t)

SMKD-1 18.0 25.5 7.55 3.65

SMKD-2 No significant assays


SMKD-4 15.0 16.50 1.50 9.53

SMKD-5 35.0 37.5 2.5 2.63



SMKD-8 0.00 7.50 7.5 3.10

5 gram metres is the minimum significant intersection

The new drilling at South Mad Kiss did not yield many favourable results. There appears to be shoots of higher-grade material at SMKD-1 and SMKD-4. However, both shoots have relatively short strike lengths. Additional exploration work is not recommended for South Mad Kiss.

MAD KISS

The Mad Kiss deposit is located about 450 m east of Aleck Hill (Figures 4, 17, 18, 19). Work prior to the current program is summarized in Cargill (2003).

The Guyana Goldfields program at Mad Kiss comprised four new backhoe trenches and 11 drill holes (Table 18, Figure 17). Favourable drill intersections are summarized in Table 19.

Sereneo (2005) interpreted the geology of the Mad Kiss Zone as follows. The mineralized zone is bounded by two parallel, northwest trending,faults or shear zones. It is about 150 m wide. The QFP intrusive is the main host for the gold mineralization. It trends 250º and dips 70º to the north. There is also mineralization in a stockwork along the hanging wall and the footwall of the QFP dyke. The two stockworks strike about 150º and dip steeply north and south. Sereneo (2005) believed that the QFP was filling a dilational zone between the two faults. If this model is correct, there may be additional QFP dykes to the southeast and northwest of the boundary faults.

82

TABLE 18 MAD KISS 2004-2005 DRILLING PROGRAM Aurora Project Guyana Goldfields Inc.


Date Started


Azimuth (Grid)

Dip Total Depth

(m) MKD-1 20-Jun-05 25-Jun-05 9826.53 10210.66 180 -45 122.00MKD-2 17-Jun-05 20-Jun-05 9817.53 10251.41 180 -60 137.00MKD-3 09-Jul-05 11-Jul-05 9872.99 10264.43 145 -60 148.00MKD-4 12-Jul-05 18-Jul-05 9883.74 10210.87 155 -70 156.00MKD-5 21-Jul-05 25-Jul-05 9907.92 10265.12 160 -70 228.00MKD-6 15-Jul-05 19-Jul-05 9895.63 10203.68 150 -70 201.00MKD-7 27-Jul-05 31-Jul-05 9930.97 10308.82 160 -70 270.00MKD-8 05-Aug-05 07-Aug-05 9850.00 10415.00 210 -65 156.00MKD-9 08-Aug-05 11-Aug-05 9786.00 10460.00 205 -70 152.00MKD-10 15-Aug-05 17-Aug-05 9880.65 10181.07 230 -70 158.00MKD-11 18-Aug-05 23-Aug-05 9937.00 10145.50 240 -72 204.00MKD-12 24-Aug-05 31-Aug-05 9900.00 10125.00 136 -70 229.00MKD-13 01-Sep-05 06-Sep-05 10010.00 9975.00 136 -70 222.00MKD - 14 18-Sep-05 20-Sep-05 9778.40 10102.15 90 -50 219.00

Total 2,602.00

0 20 40 60 100

metres

80

Historic drill holeGuyana Goldfields drill holeMineralized IntersectionSoil AnomalyTopographic Contours

>3 g/t Au1-3 g/t AuHistorical intersection(Denison)


AD43

AD46

AD55

AD54

AD52 AD48

AD50

AD53

AD41

AD47

SMKD-8

SMKD-1

SMKD-2

SMKD-3

SMKD-4

SMKD-7

SMKD-5

SMKD-6

AD44

AD-16

AD-13



10,000 E

9,600 N

9,500 N

December 2005



South Mad KissDrill Plan

(after R.Camit, Guyana Goldfields, 2005)

N

500 metres

EastWalcott

Hill

AleckHill

West MadKiss Walcott

Hill

MadKiss

10,000 E

10,000 N

9,500 N SouthMadKiss

NorthAleckHill

Rory�sKnoll

10,500 N

MINE GRID

N

9,700 N

9,400 N

9,300 N

9,200 N

9,900 E

9,800 E

10,100 E 10,200 E

020

4060

100

met

res

80

>3 g

/t A

u1-

3 g/

t Au

Min

eral

ized

dril

l int

erse

ctio

ns

Und

ergr

ound

wor

king

s

His

toric

dril

l hol

eG

uyan

a G

oldf

ield

s dr

ill h

ole

36

25 2830

2432

34

37

12

10

22

20

47

17

14

15

46

KR

D-2

KR

D-3

2

19

MK

D-7

MK

D-9

MK

D-8

MK

D-4

MK

D-5

MK

D-2

MK

D-1

MK

D-6

MK

D-3

MK

D-1

1

MK

D-1

0M

KD

-12

MK

D-1

4

MK

D-1

3


Figu

re 1

7G

uyan

a G

oldf

ield

s In

c.A

uror

a Pr

oper

tyG

uyan

aM

ad K

iss

Plan

(afte

r Guy

ana

Gol

dfie

lds,

200

5)D

ecem

ber 2

005

N

500

met

res

East

Wal

cott

Hill

Ale

ckH

ill

Wes

tM

adK

iss

Wal

cott

Hill Ma

d K

iss

10,000 E

10,0

00 N

9,50

0 N

Sout

hM

adK

iss

Nor

thA

leck

Hill

Ror

y�s

Kno

ll

10,5

00 N

MIN

E G

RID

N

10,0

00 E

9,90

0 N

9,80

0 N

9,70

0 N

10,5

00 E

Ope

n C

ut

10,0

00 N

10,1

00 E

10,2

00 E

10,3

00 E

10,4

00 E

Cross Section10,250E

Long

itudi

nal S

ectio

n9,

800N

0 10 20 30 50

metres

40

>3 g/t Au1-3 g/t Au


Historic drill holeGuyana Goldfields drill holeMineralized zone

5.7924.5


AD-36MKD-5

surface

MKD-4

AD-30

AD-28AD-25

AD-20 AD-19


AD-24

saprolite




Mad KissCross Section 10,250E

Looking Northeast(after R. Camit, Guyana Goldfields, 2005)

December 2005

NW SE

+50m

0m

-50m

-100m

9,900 N 9,850 N 9,800 N 9,750 N

3.724.0

12.961.35

3.2310.3

5.7924.5

4.555.85

1.387.0

4.135.7

10.817.35

2.3615.0

0 10 20 30 50

metres

40

1.2511.0

Historic drill holeGuyana Goldfields drill holeMineralized intersectionQuartz feldspar porphryrMineralized zone


AD-32MKD-3

AD-32

MKD-5

MKD-4

AD-20

AD-24

MKD-6

MKD-3

MKD-1

AD-12

AD-19

MKD-7


AD-30

AD-36

saprolite




Mad KissLongitudinal Section

9,800NLooking Northwest

(after R. Camit,Guyana Goldfields, 2005)

December 2005

SW NE

+50m

0m

-50m

-100m

10,250 E 10,300 E 10,350 E 10,400 E

-150m

?

??

?

?

?

?

87

TABLE 19 SIGNIFICANT(1) INTERSECTIONS MAD KISS 2004-2005 DRILLING PROGRAM


HoleNumber

From(m)

To(m)

Intercept (m)

Grade(g/t)

MKD-1 0.0 5.3 5.3 6.4 60.5 63.5 3.0 2.0

MKD-2 32.0 36.5 4.5 3.3 38.0 47.4 9.4 26.3

MKD-3 0.0 7.0 7.0 1.9 119.8 121.0 2.2 2.2 129.3 131.5 2.3 1.7

MKD-4 111.0 128.4 17.4 10.9 MKD-5 171.0 186.0 15.0 2.4 MKD-6 1.5 7.50 6.0 3.3

157.4 162.5 5.2 4.8 MKD-7 248.0 249.6 1.6 1.9 MKD-8 100.6 102.0 1.4 17.2 MKD-9 79.7 81.2 1.6 1.2 MKD-10 51.1 62.0 10.9 3.8 MKD-11 No Significant Assays MKD-12 No Significant Assays MKD-13 No Significant Assays MKD-14 No Significant Assays (1) 5 gram metres is the minimum significant intersection

In Cargill’s opinion, the five most significant rock intersections were in MKD-2, MKD-4, MKD-5, MKD-6 and MKD-10. They are all quartz vein stockworks in QFP or in volcanic rocks on the contact of the QFP. When combined with the previous intersections these values define a zone of mineralization with a very limited volume.

Cargill considers that there are no drill targets of available at the Mad Kiss prospect at the present time. When the results of all the drill holes from the current program have been incorporated into the existing model additional targets may be developed. However, until this point is reached no additional drilling can be recommended.

It could be useful to carry out a geophysical survey over the area to provide a background to interpret the existing drilling results.

88

NORTH ALECK HILL

This occurrence is ±500 m north of Aleck Hill. It was discovered by a Guyana Goldfield’s prospecting program in 2002 (Reading, 2003). It is a small hill covered with quartz float with a strong soil geochemical anomaly. The current program included a deep auger survey, 3 m deep holes on lines 100 m apart. Anomalies were followed up by three backhoe trenches totalling 500 m. Trenches were followed up with five diamond drill holes (1,467.0 m) (Figure 20). Drilling discovered a zone of mineralized quartz vein stockwork about 250 m long, 35 m thick and steeply dipping (Figure 21). The zone is cut off with blank drill holes to the north and south and it is open down dip. Drill holes are summarized in Tables 20 and 21.

TABLE 20 NORTH ALECK HILL 2004-2005 DRILLING PROGRAM Aurora Project Guyana Goldfields Inc.


Number Date

StartedDate

Completed North East Azimuth

(Grid)Dip Total

Depth (m)

NAHD-1 5-Apr-04 9-Apr-04

13-Apr-04 3-May-04

10593.81 10074.70 260 -45 357.00

NAHD-2 14-Apr-04 29-Apr-04 10593.88 10075.37 260 -65 273.00NAHD-3 3-May-04 11-May-04 10549.42 10126.36 250 -45 252.00NAHD-4 28-May-05 04-Jun-05 10501.99 10195.03 270 -60 405.00NAHD-5 05-Sept-05 12-Sep-05 10656.00 10047.00 270 -47 180.00

Total 1,467.00

020

4060

100

met

res

80

>3 g

/t A

u1-

3 g/

t Au

Min

eral

ized

zon

e

Dril

l int

erse

ctio

n

Min

eral

ized

dril

l int

erse

ctio

nsG

uyan

a G

oldf

ield

s dr

ill h

ole

1.9

93

0.4

gram

s pe

r ton

ne G

old

met

res

NA

HD

-5

NA

HD

-2N

AH

D-1

NA

HD

-3

NA

HD

-4

Tren

ch 3

Tren

ch 2

volc

anic

s an

dvo

lcan

ic s

edim

ents


Figu

re 2

0G

uyan

a G

oldf

ield

s In

c.A

uror

a Pr

oper

tyG

uyan

aN

orth

Ale

ck H

illPl

an o

f Min

eral

ized

Zon

e(a

fter G

uyan

a G

oldf

ield

s, 2

005) Dec

embe

r 200

5

N

2.3

33

.05

.14

17

.1

0.8

53

7.0

3.6

01

9.9

1.3

47

.0

1.9

93

0.4

10,6

00 N9,

800

E

10,5

00 N

10,4

00 N

9,90

0 E

10,0

00 E

10,1

00 E

10,2

00 E

??

?

Cro

ss S

ectio

n 10

,500

N

500

met

res

East

Wal

cott

Hill

Ale

ckH

ill

Wes

tM

adK

iss

Wal

cott

Hill

Mad

Kis

s

10,000 E

10,0

00 N

9,50

0 N

Sout

hM

adK

iss

No

rth

Ale

ck

Hill

Ror

y�s

Kno

ll

10,5

00 N

MIN

E G

RID

N

10,7

00 N

020

4060

100

met

res

80

>3 g

/t A

u1-

3 g/

t Au

Min

eral

ized

zon

e

Dril

l int

erse

ctio

n

Min

eral

ized

dril

l int

erse

ctio

nsG

uyan

a G

oldf

ield

s dr

ill h

ole

1.9

93

0.4

gram

s pe

r ton

ne G

old

met

res

NA

HD

-3

NA

HD

-4 volc

anic

s an

dvo

lcan

ic s

edim

ents


Figu

re 2

1G

uyan

a G

oldf

ield

s In

c.A

uror

a Pr

oper

tyG

uyan

aN

orth

Ale

ck H

illC

ross

Sec

tion

10,5

00 N

Look

ing

Nor

thw

est

(afte

r Guy

ana

Gol

dfie

lds,

200

5)D

ecem

ber 2

005

10,0

00 E

10,1

00 E

10,2

00 E

9,90

0 E

10,3

00 E

+100

m

0m -100

m

-200

m

??

SWN

E

1.9

93

0.4

1.3

47

.0

91

TABLE 21 SIGNIFICANT(1) DRILL INTERSECTIONS NORTH ALECK HILL

Aurora Project Guyana Goldfields Inc. Hole

Number From (m) To (m) Intercept

(m) Grade(g/t)

NAH-1 58.41 69.00 10.6 4.95 112.7 115.2 2.5 22.67 121.9 127.9 6.0 5.98 261.0 264.0 3.0 3.23

NAH-2 95.9 100.5 4.6 2.11 112.7 115.2 2.5 22.67 168.9 173.2 4.3 2.52

NAH-3 30.4 32.0 1.60 4.43 110.5 115.6 5.0 2.71 121.9 127.9 6/0 5.74 139.4 140.0 0.6 9.77

NAH-4 261.0 264.0 3.0 3.23 321.0 324.0 3.0 1.97

NAH-5 No Significant Intersections (1) 5 gram metres is the minimum significant intersection

In Cargill’s opinion, the mineralization is a steeply plunging quartz stockwork. While additional drilling would better define the zone and trace it down plunge, it is a target with a limited tonnage potential.

In late 2005, a 57 auger hole, soil-geochemical program (157 samples) was carried out immediately west of Aleck Hill North to follow up soil anomalies obtained in a previous survey. Results of this program were not received by the December 30, 2005.

POWIS HILL

Powis Hill is an old occurrence about 2 km south of the base camp (Figure 4). It is a low hill with seven old trenches (±270 m) in saprolite. The trenches cover about 200 m of strike length with a small swampy area between the eastern and western groups of trenches. Guyana Goldfields cleaned out these trenches and re-mapped and re-sampled them.

The most interesting results from the program of re-sampling the existing trenches were from the northwestern trenches. Here there was a zone of auriferous, en echelon, quartz veins about 70 m long and ±5 m wide. The zone strikes about N60ºW (grid north).

0 20 40 60 100

metres

80 VeinTrench




Powis Hill ProspectAuger Soil Krigged

Average Gold Values(after Guyana Goldfields, 2005)

10,700E 10,800E 10,900E 11,000E

11,100E 11,200E

8,400N

8,300N

8,200N

8,100N

8,000N

7,900N

7,800NDecember 2005

N

0 20 40 60 100

metres

80

VeinTrench

> 0.0990.071 - 0.0990.042 - 0.0710.032 - 0.042< 0.032

PHA-001

PHA-002

PHA-003

PHA-004

PHA-005

PHA-006

PHA-007

PHA-008

PHA-009

PHA-010

PHA-011

PHA-012

PHA-013

PHA-014

PHA-015

PHA-016

PHA-017

PHA-018

PHA-019

PHA-020

PHA-021

PHA-022

PHA-023

PHA-024

PHA-025

PHA-026

PHA-027

PHA-028

PHA-029

PHA-030

PHA-031

PHA-032

PHA-033

PHA-034

PHA-035

PHA-036

PHA-037

PHA-038

PHA-039

PHA-040

PHA-041

PHA-042

PHA-043

PHA-044

PHA-045

PHA-046

PHA-047

PHA-048

PHA-049

PHA-050

PHA-051

PHA-052

PHA-053

PHA-054

PHA-055

PHA-056

PHA-057

PHA-058

PHA-059

PHA-060

PHA-061

PHA-062

PHA-063

PHA-064

PHA-065

PHA-066

PHA-067

PHA-068

PHA-069

PHA-070

PHA-071

PHA-072

PHA-073

PHA-074

PHA-075

PHA-076

PHA-077

PHA-078PHA-079

PHA-080

PHA-081

PHA-082

PHA-083

PHA-084

PHA-085

PHA-086

PHA-087

PHA-088

PHA-089

PHA-090

PHA-091

PHA-092

PHA-093

PHA-094

PHA-095

PHA-096

PHA-097

PHA-098

PHA-099

PHA-100

PHA-101

PHA-102PHA-103

PHA-104

PHA-105PHA-106

PHA-107

PHA-108

PHA-109PHA-110

PHA-111

PHA-112

PHA-113

PHA-114

PHA-115

PHA-116

PHA-117

PHA-118

PHA-119

PHA-120

PHA-121

PHA-122

PHA-123

PHA-124

PHA-125

PHA-126

PHA-127

PHA-130

PHA-131

PHA-132

PHA-133

PHA-134

PHA-135

0.058

0.007

0.009

0.003

0

0.006

0.034

0.035

0.034

0.029

0.028

0.031

0.027

0.005

0.003

0.003

0.08

0.003

0.03

0.028

0.048

0.029

0.031

0.032

0.047

0.093

0.041

0.068

0.05

0.058

0.025

0.04

0.03

0.034

0.033

0.039

0.045

0.035

0.039

0.074

0.027

0.062

0.003

0.003

0.053

0.044

0.017

0.034

0.171

0.041

0.038

0.025

0.027

0.029

0.048

0.15

0.04

0.027

0.044

0.039

0.048

0.035

0.022

0.047

0.028

0.031

0.07

0.058

0.039

0.019

0.018

0.042

0.046

0.039

0.042

0.034

0.036

0.0230.095

0.052

0.035

0.039

0.039

0.029

0.036

0.034

0.064

0.041

0.003

0.039

0.05

0

0.043

0.003

0.048

0.042

0.022

0.036

0.029

0.003

0.004

0.0030.026

0.008

0.0070.027

0.027

0.026

0.0270.038

0.019

0.026

0.023

0

0.031

0.035

0.028

0.026

0.027

0.027

0.024

0.033

0.029

0.046

0.044

0.01

0.008

0.021

0.075

0.031

0.03

0.036

0.035


10,700E 10,800E 10,900E 11,000E

11,100E 11,200E

8,400N

8,300N

8,200N

8,100N

8,000N

7,900N

7,800N



Powis Hill ProspectAuger Drilling - Soil

Average Gold Values(after Guyana Goldfields, 2005)

December 2005

N

94

The zone contained values of 2.07 g/t Au over 8 m, 2.05 g/t Au over 6 m, 2.73 g/t Au over 4 m and 1.33 g/t Au over 1m and contains samples of individual quartz veins grading up to 114.73 g/t Au.

Samples from the eastern trenches contained no significant gold grades.

As a follow up to re-sampling these trenches Guyana Goldfields carried out a 500 m by 500 m auger sampling program with samples collected at 50 m stations. The results of this program are shown on Figures 22 and 23. The auger sampling program defined a large area with anomalous gold values to the west of the trenches. This area requires additional follow up with mechanical trenching or shallow diamond drill holes.

HAIMARALLI

The best description of the geology of the Haimaralli Copper-Gold Zone (Haimaralli) area is by Barron (Barron and Harden, 1963) (Figure 2 and 24). The area is underlain by volcanic and sedimentary rocks of the Cuyuni Formation, metamorphosed with a vertical foliation striking southeasterly. A band of poorly foliated amphibolite, 600 m wide, is a thick flow or sill. West of the Haimaralli the Cuyuni Formation abuts the Devil’s Hole Gneiss Complex. To the south both formations are intruded by the Aurora Granite. At the contact the granite is heavily contaminated and has silicified and saussuritized the country rocks. There is not a wide metamorphic aureole but there are gold showings along the contact. Carter (1963) regarded the granite as a high-level intrusive.

Macdonald (1968) described Haimaralli as a showing of oxide copper discovered in 1961 in the Cuyuni River bed near Haimaralli Falls. The discovery led to a stream silt survey (100 km2 ) followed by detailed soil surveys of anomalous areas by the GGMC and the UNDP. The soil surveys produced two weak copper soil anomalies. One soil anomaly correlated with a TURAM anomaly. Drill tests of the soil anomalies did not find any mineralization. A hole drilled to test the original showing intersected low-grade copper mineralization in the form of chalcopyrite. Follow-up holes reported intersections of about 0.3 % Cu over up to 24 m. However, all copper assays were done by colorimetric methods and there were no assays for gold. The copper occurs in sheared greenstone partially intruded by Aurora granite. The copper-gold mineralization at the neighbouring Aranka Property (Thompson, 1999) indicates testing the gold content of mineralized material from this area is a high priority.

The area was covered by soil auger geochemistry by Denison (Andreazza, 1992) who confirmed an anomaly in the area but did no follow-up work. Reading (2000b) found two areas of trenches, presumably the two soil anomalies and some miscellaneous drilling equipment near the river which may be the original discovery.

The Guyana Goldfields current program found the old UN diamond drill sites and parts of the Denison geochemical grid. Careful review of the old data shows that the Denison and UN soil geochemical anomalies correspond. At the time of Cargill’s field

95

visit Guyana Goldfields was cutting a new grid over the UN/Denison anomaly. The new grid was used as a base for the auger drilling and the planned program of ground geophysics. These programs will develop targets for drill testing.

MARUPA

The Marupa deposit was found by the silt-geochemical reconnaissance program (Figure 4 and 25, and 27). The silt anomaly roughly corresponded to an aeromagnetic anomaly interpreted as a granitic intrusive. Follow-up work consisted of auger sampling along the ridges separating the anomalous drainages. Three anomalous areas were found and grids for systematic soil-auger grids were laid out to cover the anomalies.

GranodioriteAmphiboliteMetasiltstone and greywackeBlack pyritic schistPhyllite and chlorite-sericite schistGreenschist

UN/GSBG drill hole

0 20 40 60 100

metres

80

Dennison Soil Sampling(ppm Cu)

153-39980-15330-80

HF-DDH05A

752400mN

193200mE

752300mN

752200mN

752100mN

193300mE 193400mE 193500mE 193600mE 193700mE

751000mN

191600mE 191700mE 191800mE

750900mN

750800mN

12,600N

12,400N

12,200N

8,500E

HF-DDH16

HF-DDH13

HF-DDH12A

HF-DDH07

HF-DDH08HF-DDH03

HF-DDH04

HF-DDH02

HF-DDH01

HF-DDH10

HF-DDH09A

HF-DDH11

HF-DDH05A

HF-DDH17

HF-DDH15

HF-DDH14HF-DDH20

HF-DDH19

HF-DDH18

Island

HF-DDH13

fault

Lolita Shear Zone

Haimaralli Falls Discovery(brochantite outcrop)


December 2005



Haimaralli Falls Area(After Guyana Geology & Mines Commission, 2005)

N

N

CuyuniRiver

DennisonIP Anomaly

200 ppm Cu contour(UN/GSBG Soil Samples)

Mar

upa

Riv

er

0 200 400 600 1000

metres

800

Lateritic volcanicsVolcanic breccia with quartzGranodioriteQuartz float / zone

>0.160.08 - 0.160.04 - 0.080.02 - 0.04<0.02

Auger Sampling (ppm Au)

Anomalus Au in soils>0.16g/t Au

Follow up Grids �A�,�B�,�C�

195000mE

757000mN

196000mE 197000mE 198000mE

756000mN

755000mN

754000mN

Camp


December 2005



Marupa Prospect(After Guyana Goldfields, 2005)

Area CArea A

Area B

N

98

9,500 N ZONE

The 9,500 N and 9,400 N Zones are a poorly defined area of scattered geochemical anomalies (Cargill, 2003). The best showing is described as a quartz vein in sericite schist but grab samples did not yield significant gold values. The six drill holes drilled to test geochemical anomalies intersected highly anomalous soils, KRD-5, and high grade quartz veins, KRD-3 and KRD-5.

TABLE 22 9500 N ZONE 2004-2005 DRILLING PROGRAM Aurora Project Guyana Goldfields Inc.


Number Date

StartedDate

Completed North East Azimuth

(Grid)Dip Total

Depth (m)

KRD-1 23-Jul-04 29-Jul-04 9467.23 10835.48 270k -45k 245.00

KRD-2 24-Nov-04 5-Oct-04 9806.17 9990.77 270k -45k 51.00KRD-3 5-Oct-04 25-Oct-04 9796.64 9991.00 270k -60k 180.55KRD-4 25-Jan-05 29-Jan-05 9500.00 10300.00 90k -50k 198.80KRD-5 30-Jan-05 06-Feb-05 9989.52 10618.06 131k -45k 414.00

KRD-6 23 Sept 05 27 Sept O5 9467.23 10885.48 270k -47k 270.00

Total 1359.35

TABLE 23 SIGNIFICANT DRILL INTERSECTIONS KRD-1 ZONE Aurora Project Guyana Goldfields Inc.

Hole Number From (m) To (m) Intercept (m) Grade (g/t)

KRD-1 No Significant Intersections KRD-2 No Significant Intersections KRD-3 170.75 172.00 1.25 25.57KRD-4 No Significant Intersections KRD-5 0.45 6.00 5.55 2.17KRD-6 No Significant Intersections

FELICE ZONE

The Felice Zone is described in Cargill (2003). Guyana Goldfields did no additional testing in the current exploration program.

99

SWAMP ZONE

An auger soil survey did not yield anomalous results in the Swamp Zone area.

2,400 SOUTH ANOMALY

No additional work was performed on the 2,400 South Anomaly in the current program. The previous program of deep auger soil-geochemistry found a narrow anomaly which suggests a small, structurally controlled zone of gold mineralization. Additional work, probably ground geophysics, IP and/or magnetics, is required to generate a specific drill target.

EXPLORATION

Exploration at Aurora can be divided into reconnaissance work on the Aurora PL and on the reconnaissance permit and follow-up exploration, which was mostly on the known mineral occurrences on the old Aurora PL, but includes some work on targets generated by the reconnaissance program.

RECONNAISANCE PROGRAM

AIRBORNE SURVEY

Spector (2005a) reported the airborne survey was carried out in December 2004 by Terraquest Ltd. The survey aircraft was a Piper Navaho (GC-XKS) based at Temehri airport, Georgetown, Guyana. The survey consisted of east-west lines flown at a 400 m spacing and north-south lines flown at a 200 m spacing. All lines were flown at a 70 m mean terrain clearance. The survey equipment included: 1.) Cesium vapour magnetometer, 0.01 nT sensitivity; 2.) Four – 256 cubic inch crystal spectrometers; 3.) Xterra passive EM system including: a.) vertical co-planar, b.) vertical co-axial, and c.) horizontal co-planar coils (this system uses natural EM transmissions); 4.) GPS receiver with real time corrections; 5.) Colour digital camera; and 6.) Radar altimeter.

Data from the magnetic observatory at San Juan, Puerto Rico was used to monitor storm activity.

The project was divided into 4 blocks shown on Figure 26 and summarized in the following table.

100

TABLE 24 BLOCKS AIRBORNE SURVEY (SPECTOR 2005)


Survey Block Square Kilometers

LineKilometers

Block No. 1 250 4,000Block No. 2 156 1,200Block No. 3 256 1,460Block No. 4 140 1,460

Total 802 8,120

For the geophysical interpretation, the contractor prepared composite profiles of the magnetic intensity, potassium radiometric channel and EM data at 1:10,000 (Spector 2005 a,b,c,d). These profiles were the basis of the analysis and interpretation of the data. The magnetic data analysis consisted of examining the data profiles to identify anomalies or changes in rock magnetization and to locate magnetic contacts (Spector and Leaver 1998). Profiles of the potassium channel radioactivity were examined to locate rock units with radiation at least twice background values. Profiles of the EM data were examined to locate conductive zones. Of the three channels of EM data available, only the vertical coplanar channel proved useful. However, in about 30% of the survey this data was unusable due to nearby thunderstorm/electrical disturbances.

The principal geological features revealed from the geophysical survey are summarized (Spector, 2005 a,b,c,d,) below:

Block 1 The Aurora Intrusive, which occupies the southwest part of the area, is characterized by an outer magnetic or hybrid phase (40-400 nT) and high potassic radioactivity. Volcanic rocks to the north and east are associated with scattered, low amplitude magnetic units trending easterly or southeasterly.

Block 2 The Aurora Intrusive in the southwest corner of the area, is characterized by moderate to high magnetic values and high values of potassium. There are zones of EM conductivity along both the faulted east contact of the batholith and within it.

The Sand Creek structure is a northwest trending zone of high, reversed magnetization on the west side of the Cuyuni River. The Sand Creek gold showing is associated with this zone and there are a number of EM conductors associated with the structure. There is a broad area of high potassic radioactivity east of the Cuyuni River, probably caused by the alluvial sediments.

10

11

8.6

8.8

8.527b

8.42b

132a

1

3

1215

16

17

28a

4

2828b

67

5

29

18

19

20

14a

14b

21.1

21.2

27a

22

21.4

21.5

21.3

23

27

2625

8.1

8.2

8.3

32a

32

33

34

35

35a

36

36a

31

30

3738

49

39 50

48b

48a

49

47

46

44a 44

45

42

60

5958

6162

57

5554

56

53

5152

41

42

0 2 4 6 10

kilometres

8

6°30�N 190000mE 200000mE 210000mE 220000mE

740000mN

730000mN

720000mN

750000mN

59°50�W 59°40�W

6°40�N

6°50�N


Alluvial / elluvial workings, goldAlluvial / elluvial workings, diamondsGeophysical anomaly, identifier



Geophysical Anomaliesfrom Airborne Survey

(After Spector, 2005a,b,c,d)December 2005

CuyuniRiver

Devil�s HoleFalls

Kartuni River

N

WestAurora

Block #4 Aurora Block #1

SandCreek

Area #2

AkaiwongBlock #3

102

Block 3 The Aurora Intrusive, which occupies the western third of the survey area is characterized by moderate to high magnetization (40 to 200 nT) and a potassium anomaly (40-70 cps) in its centre. There are a number of zones of EM conductivity in the centre and along the east contact of the intrusive. Some EM conductors are associated with interpreted north northwest faults.

Long, linear west southwest to west magnetic zones (10 to 40 nT), (dikes?), exist in the south and east parts of the area. Magnetic relief (±240 nT) is higher over a west zone along the south boundary of the area which is associated with EM conductivity.

Block 4. The Aurora Intrusive covers about 75 % of the survey area. It is characterized by moderate to high magnetization (40 to 800 nT) and noticeable potassium radioactivity (40 to 70cps) in the northern part. The absence of potassic radiation in the south part of the area is striking. There are zones of relatively intense magnetization (200 to 800 nT) which are probably associated with mafic-ultramafic rocks with a high magntite content. A high number of EM conductivity zones occur in the central part of the intrusive and are associated with interpreted north trending faults. There is an isolated intrusive delineated by its magnetization and radioactivity. Volcanic rocks north of the Cuyuni River are associated with low amplitude magnetic relief.

On the Aurora properties Spector (Spector 2005 a,b,c,d) believed that gold mineralization is associated with; 1.) a magnetic contact or break; 2.) potassic alteration; and 3.) EM conductors. These observations provided a basis for establishing the priority of the geophysical features. Spector’s geophysical targets are summarized in the following table.

TABLE 25 AIRBORNE GEOPHYSICAL TARGETS (Spector 2005 a,b,c,d)

Aurora Project Guyana Goldfields Inc. No. Structural

Association Magnetic

nTK-

Channel Anomaly

EMAnomalies

Known Gold Mineralization

Rank

Block 1

1 Intersection NNW Shear and EW contact

40-100 Yes Yes Rory*s Knoll 1

2a Similar to 1 40-100 - Yes 9400 Zone 1

2b Similar to 1 40-100 - Yes 1

3 Similar to 1 40-100 - Yes North Aleck Hill 1

4 Similar to 1 40-100 - Yes - 1

5 NNW Shear Zone 2-140 Yes Yes - 1

103




nTK-

Channel Anomaly

EMAnomalies


Rank

6 - 30-50 Yes Yes - 1

7 N Shear Zone 2-30 Yes Yes Haimaralli Falls 1

8.1-8.8

High K radiation near Cuyuni River r Placer Au targets

- Yes - - 3

9 N fault, Intrusive? 10 Yes - - 2

10 Intrusive 30-50 Yes - - 2

11 Intrusive 50 - Yes - 1

12 Intersection NNW fault and Contact C-2

0-50 Yes Yes - 1

13 Similar to 12 40 Yes Yes Gold Ck 1

14a NNW fault 5 Yes - - 2

14b NW fault 60 Yes Yes Caleb East and West

1

15 NNW fault 60 Yes Yes _ 1

16 Massive sulphides, Intrusive?

140 Yes Yes - 1

17 NNW Fault 100 Yes Yes - 1

18 NNW Fault 50-180 Yes Yes - 1


20 NNW Fault 10-30 Yes - - 2

21.1 Massive Sulphide? 120 - - - 2

21.2 Massive Sulphide? 170 - Yes - 1

21.3 Massive Sulphide 50 - Yes - 1

21.4 Massive Sulphide? 60 Yes Yes - 1

21.5 Massive Sulphide? 40 - Yes - 1

22 Intrusive? 40-140 - Yes - 1

23 Massive Sulphide? 80 - - - 2

24 NW Fault 5 Yes - - 2

104




nTK-

Channel Anomaly

EMAnomalies


Rank

25 NNW Fault 10-20 - - - 3


27 Intrusives - Yes - 3

28 Interaction of EW contact and NS shear

40-80 Yes Yes - 1

28a Same as 28 40-80 Yes Yes - 1

28b Same as 28 80 Yes Yes - 1

29 Same as 28 40 Yes Yes - 1

Block 2

30 Sand Creek Structure, high mag and numerous EM conductors

200 - Yes - 1

31 Similar to 1 40 - Yes - 1

32 Similar to 1 160 - Yes - 1

32a Similar to 1 Weak Yes Yes Sand Creek 1

33 Similar to 1 with reversed man

-60 - Yes - 1

34 EM conductor - - Yes - 2

35 Conspicuous mag anomaly

140 - Yes - 1

35a High Potassic Radiation

10-60 Yes Yes Chinese Landing

1

36 High Potassic Radiation

10 Yes Yes Roberts Workings

1

36a Dyke-like mag zone 40 Yes Yes 2

37 Intrusive? 140 - Yes - 2

38 Fault/Aurora Intrusive

20-200 Yes Yes - 1

39 Fault/Aurora Intrusive

40 - Yes - 2

40 Intrusive? 140 Yes Yes - 2

105




nTK-

Channel Anomaly

EMAnomalies


Rank

Block 3

41 NW Fault 60 Yes Yes 1

42 Fault? 300 - Yes Massive Sulphide?

1

43 NNW Fault - Yes Yes - 2

44 Dyke/Sill 240 - Yes Massive Sulphide?

1

44a Dyke?Sill 60-100 - Yes Massive Sulphide?

1

45 NNW fault - - Yes - 2

46 Intrusive contact 10 Yes Yes - 1

47 Intrusive contact 100 Yes - - 2

48a 40 - - Massive Sulphide?

2

48b 40 - Yes NW Akaiwong 1

49 Similar to 44a 100 - Yes 2

50 60 Yes Yes S Chisholme*s Workings

1

Block 4

51 NNW Fault 200 - Yes - 1

52 NNW Fault 80 - Yes - 1

53 N Fault 300 Yes Yes - 1

54 N Fault Yes Yes - 1

55 Yes _ 2

56 N Fault 400 Yes Yes - 1

57 N Fault 500 - Yes - 1

58 NW Fault 150 Yes Yes - 1

59 NNE Fault 20 Yes Yes - 2

60 - 20 Yes Yes - 2

61 NNE Fault 400 Yes Yes - 1

106




nTK-

Channel Anomaly

EMAnomalies


Rank

62 - - - Yes - 2

GEOCHEMICAL SURVEY

The geochemical reconnaissance survey can be divided into three blocks, the Northwest area, the Aurora PL and the Southeast area (Figure 27).

NORTHWEST RECONNAISSANCE AREA

This area is adjacent to the northwest end of the Aurora PL. Fifty-five silt samples were collected from areas mapped as Cuyuni Series volcano-sedimentary rocks and the Aurora granodiorite. Areas underlain by the Devil’s Hole Gneiss were not sampled. Dr. Hesterman (2005a) identified two gold anomalies. The first is immediately north of the Cuyuni River and may be a continuation of the mineralization at Rory’s Knoll. The second is farther to the northeast, corresponding to a geophysical target, a historical gold working and includes the Marupa area.

AURORA PL

Guyana Goldfields carried out a program of semi-detailed silt sampling in the southern and northwestern part of the PL. A total of 455 silt samples have collected over the Aurora PL by Denison, Gyuana Geology Mining Commission (GGMC), BHP and Guyana Goldfields. Dr. Heesterman (2005c) defined three areas where anomalous areas had not been adequately tested by soil sampling (Figure 19). These are Area 4 in the vicinity of the West Gold Creek workings, Area 3 south of Caleb’s Workings, and Area 1 immediately east of the concession.

SOUTHEAST RECONNAISSANCE AREA

The Southeast Reconnaissance Area has been covered with about 105 silt samples by Guyana Goldfields, partially covered by a Bulk Leach Extractable Gold (BLEG) survey by BHP and completely covered with silt samples by the GGMC. Base metal values defined an anomalous area for Cu-Pb-Zn.

Guyana Goldfields collected 100 soil samples along four lines, about 4 km long and about 1.5 km apart, across the base metal anomaly. These lines had two widely-spaced, scattered, anomalous gold samples but did not yield any anomalous areas for gold or base metals.

0 2 4 6 10

kilometres

8

6°30�N 190000mE 200000mE 210000mE 220000mE

740000mN

730000mN

720000mN

750000mN

59°50�W 59°40�W

6°40�N

6°50�N


Alluvial / elluvial workings, goldAlluvial / elluvial workings, diamondsSoil geochem sample locations

GGMC BLEG Geochemical AnomaliesHighMedium

Area recommended for follow-up



Regional Geochemical Anomalies(After Heesterman, 2005 a,b,c,d)

December 2005

N

CuyuniRiver

Devil�s HoleFalls

Kartuni River

Marupa AreaAu Anomalous Zones

GoldCreek

Wildcat #1

CalebEast & West

Soil SamplingArea

Anomaly4 & 28

108

FOLLOW-UP EXPLORATION

GOLD CREEK AREA

This area is delineated with a combination of silt and geophysical anomalies (#13, #15, and #16). It was explored by auger geochemistry, prospecting traverses and rock geochemistry (Heesterman, 2005b). The auger geochemical program consisted of 559 samples from 256 auger holes varying from 1 m to 3 m in depth. No significant anomalies were defined. Dr. Heesterman suggested the gold occurred as free gold in tiny quartz stringers.

The 200 rock (float) samples had two anomalous values. One was from the vicinity of Powis Hill and the other about 800 km east of Gold Creek. The Powis Hill sample is related to a known gold occurrence. The Gold Creek sample warrants a limited program of prospecting and trenching.

CALEB AREA

The Caleb East Area is near the Caleb Workings and includes ridges east of the Caleb Trail (Soreneo, 2005b). Rocks are mafic volcanics with pervasive quartz veinlets. Soil samples gave moderately anomalous, erratic values. They did not define a specific area for additional work.

The Caleb West Area includes the ridges west of the Caleb Trail. Two areas were defined for follow-up auger sampling and prospecting (Soreneo, 2005b).

WILDCAT (#1 AREA)

A reconnaissance traverse found a boulder of vein breccia on the slope of a ridge and there is a cluster of anomalous rock and auger samples in a topographic anomaly. Additional auger drilling and prospecting was recommended (Heesterman, 2005b).

ANOMALIES 4 AND 28

A small soil survey was carried out over geophysical anomalies #4 and #28 (Figure 24) (Spector, 2005a). It consisted of four lines 1 km to 1.5 km long and about 200 m apart.

No significant gold assays were found associated with Anomaly #4 and no additional work is recommended (Heesterman, 2005e). On Anomaly #28 one area had low-level gold anomalies (max 0.3 ppm Au) on the margin of the Aurora Granite. No further work was recommended (Heesterman 2005e).

Other follow-up work on previously recognized mineral occurrences included soil augering, adit mapping and sampling, backhoe trenching, and diamond drilling of rock

109

and saprolite. Most of this work was previously discussed in “Mineralization”. The work from the Central Aurora Area is summarized in the following table.



Auger Soil Adits Mapped/Sampled

Trenches Mapped/Sampled

Rock/DDH (m)

Saprolit/DDH (m)

Aleck Hill Zone


No new trenches

14 / 3,103.3 26 / 1,932

North Aleck Hill

Small survey 1 adit 3 samples


5 / 1,467.0 ---/---

West Mad Kiss



---/---

Walcott Hill


No new trenches 11 / 1,683.9 ---/---

East Walcott Hill


Rory’s Knoll


Mad Kiss



14 / 2,602.0 ---/---

South Mad Kiss


Miscellaneous Zones

Survey 6 / 1,359.15 ---/---

Totals 114/29, 685.4 26/1,932

110

DRILLING

Diamond drilling prior to the 2004-2005 program was summarized in Cargill (2003). Diamond drilling in the 2004-2005 program is outlined in Table 26.

Saprolite was drilled with an “HQ Core Barrel” diameter core barrel and the hard rock with an “NQ” diameter core barrel. Recoveries are essentially 100% for saprolite and hard rock. Guyana Goldfields surveyed each drill collar with a laser theodolite and carried out down-hole surveys with a single-shot instrument at ±50 m intervals. These surveys are used to establish the location of the hole in three-dimensional space.

Routine core and RQD logging is done manually and subsequently saved in an Excel format. In addition to logging core and RQDs, routine density measurements are taken for each rock type, using the water immersion method. In the initial drill holes Guyana Goldfields also took systematic measurements of magnetic susceptibility from the core. However, they found that the susceptibility was so low that it was essentially impossible to measure with portable instruments.

TABLE 27 DRILLING RESULTS 2004 – 2005 PROGRAM Aurora Project Guyana Goldfields Inc.


Number Date

StartedDate


Azimuth (Grid)

Dip Total Depth (m)

Aleck Hill

AHD-1 11-Feb-04 27-Feb-04 9997.60 9700.37 90k -65k 258.80

AHD-2 28-Feb-04 13-Mar-04 9998.55 9664.82 90k -65k 314.00

AHD-3 12-May-05 17-May-05 10000.63 9769.91 90° -55° 187.00

AHD-4 14-Mar-04 27-Mar-04 9754.13 9650.42 90k -60k 297.00

AHD-5 28-Mar-04 4-Apr-04 9752.79 9690.16 90k -57k 222.00

AHD-6 16-May-05 26-May-05 10050.26 9763.23 90k -55k 268.00

AHD-7 17-May-05 27-May-05 9997.52 9688.19 90k -80k 418.00

AHD-8 29-May-05 04-Jun-05 9948.43 9695.59 90k -60k 306.00

AHD-9 04-Jun-05 08-Jun-05 9946.84 9751.35 90k -60k 171.00

AHD-10 08-Jun-05 12-Jun-05 10099.03 9779.99 90k -60k 151.00

AHD-11 11-Jun-05 15-Jun-05 10051.22 9791.06 90k -61k 132.00

AHD-12 12-Jun-05 14-Jun-05 9899.47 9747.94 90k -60k 150.00

111



Number Date

StartedDate


Azimuth (Grid)

Dip Total Depth (m)

AHD-13 14-Jun-05 18-Jun-05 9850.87 9744.49 90k -60k 131.00

AHD-14 15-Jun-05 17-Jun-05 9796.58 9741.61 90k -60k 97.50

Total 3,103.30

North Aleck Hill

NAHD-1 5-Apr-04 29-Apr-04

13-Apr-04 3-May-04

10593.81 10074.70 260k -45k 357.00

NAHD-2 14-Apr-04 29-Apr-04 10593.88 10075.37 260k -65k 273.00

NAHD-3 3-May-04 11-May-04 10549.42 10126.36 250k -45k 252.00

NAHD-4 28-May-05 04-Jun-05 10501.99 10195.03 270k -60k 405.00

NAHD-5 05-Sept-05 12-Sep-05 10656.00 10047.00 270 -47k 180.00

Total 1,467.00

Rory’s Knoll

RKD-1 12-May-04 17-May-04 9881.99 10763.54 90k -45k 46.50

RKD-2 18-May-04 21-May-04 9882.06 10762.98 90k -60k 114.00

RKD-3 10-Jun-04 19-Jun-04 9882.21 10763.08 90k -45k 305.00

RKD-4 20-Jun-04 27-Jun-04 9876.28 10774.40 270k -45k 261.00

RKD-5 28-Jun-04 3-Jul-04 9876.17 10775.11 270k -60k 248.00

RKD-6 5-Jul-04 12-Jul-04 9970.98 10744.48 270k -45k 265.20

RKD-7 12-Jul-04 18-Jul-04 9970.97 10745.02 270k -60k 249.00

RKD-8 1-Aug-04 19-Aug-04 9966.01 10793.43 270k -60k 354.00

RKD-9 20-Aug-04 29-Aug-04 9958.79 10838.02 270k -45k 362.00

RKD-10 29-Aug-04 11-Sep-04 9965.08 10944.34 270k -45k 382.00

RKD-11 12-Sep-04 21-Sep-04 10065.86 10794.20 270k -45k 282.00

RKD-12 22-Sep-04 18-Oct-04 10065.79 10873.61 270k -45k 372.20

RKD-13 25-Sep-04 7-Oct-04 10166.64 10790.55 270k -45k 366.00

RKD-14 19-Oct-04 27-Oct-04 9878.64 10882.44 270k -45k 291.00

RKD-15 28-Oct-04 8-Nov-04 9872.95 10972.71 270k -45k 308.00

112



Number Date

StartedDate


Azimuth (Grid)

Dip Total Depth (m)

RKD-16 9-Nov-04 20-Nov-04 9874.59 11081.57 270k -45k 411.00

RKD-17 23-Nov-04 6-Dec-04 9965.30 11039.42 270k -45k 431.00

RKD-18 21-Nov-04 27-Dec-04 9794.11 10886.56 270k -45k 284.50

RKD-19 28-Nov-04 3-Dec-04 10161.86 10997.51 270k -45k 216.60

RKD-20 3-Dec-04 10-Dec-04 10163.08 10994.65 180k -45k 336.00

RKD-21 17-Jan-05 09-Feb-05 9965.22 11049.32 270k -65k 346.00

RKD-22 18-Jan-05 29-Jan-05 9990.43 10618.09 105k -55k 432.00

RKD-23 10-Feb-05 15-Feb-05 10020.52 10874.19 274k -60k 303.00

RKD-24 13-Feb-05 25-Feb-05 10018.39 10972.69 274k -60k 435.00

RKD-25 16-Feb-05 20-Feb-05 9960.12 10817.67 270k -90k 203.00

RKD-26 24-Feb-05 04-Mar-05 10066.21 10963.52 274k -50k 238.10

RKD-27 01-Mar-05 20-Mar-05 10027.45 11060.46 280k -60k 620.00

RKD-28 07-Mar-05 20-Mar-05 10066.21 10963.52 280k -60k 576.00

RKD-29 22-Mar-05 25-Mar-05 9812.19 10828.55 275k -42k 119.00

RKD-30 21-Mar-05 03-Apr-05 10070.13 10922.49 280k -62k 506.00

RKD-31 26-Mar-05 30-Mar-05 10148.66 10948.95 275k -78k 182.00

RKD-32 31-Mar-05 11-Apr-05 10176.60 10911.95 275k -66k 413.00

RKD-33 05-Apr-05 15-Apr-05 10008.73 11193.55 280k -61k 464.00

RKD-34 12-Apr-05 29-Apr-05 9963.54 11085.15 280k -58k 549.00

RKD-35 15-Sept_05 26-Sept-05 9900.00 11000.00 277k -60 371.20

RKD-36 28-Sept-05 11-Oct-05 10150.00 11050.00 279k -65k 635.00

RKD-37 30-Sept-05 24-Oct-05 10200.00 11100.00 285k -70k 1067.60

RKD-38 13-Oct-05 18-Oct-05 10113.40 10943.99 262.3k -69.7k 243.00

RKD-39 20-Oct-05 03-Nov-05 10150.00 11070.00 270k -45k 554.00

RKD-40A 26 Oct 05 30-Oct-O5 10052.79 11108.23 270 -58k 184.00

RKD-40B 31 Oct 05 31-Oct-05 10052.79 11108.23 280 -69k 32.00

RKD-40C 31 Oct 05 31-Oct-05 10052.79 11108.23 280 -69k 10.00

RKD-40D 01 Nov 05 17-Nov-05 10052.79 11108.23 285 -70k 805.00

113



Number Date

StartedDate


Azimuth (Grid)

Dip Total Depth (m)

RKD-41 05 Nov 05 27-Nov-05 10100.00 11150.00 278 -64k 745.00

RKD-42 20 Nov 05 25-Nov-05 9935.00 10830.00 260 -50k 202.00

RKD-43 24 Nov 05 27-Nov-05 9935.00 10875.00 260 -51k 239.50

RKD-44 28 Nov 05 02-Dec-05 9935.00 10885.00 270 -62k 310.00

RKD-45 29 Nov 05 01-Dec-05 10000.00 10770.00 270 -50k 171.00

RKD-46 02 Dec 05 06-Dec-05 11000.00 10800.00 270 -60k 228.00

RKD-47 03 Dec 05 07-Dec-05 9935.00 10895.00 270 -68k 313.00

Total 17,381.40

East Walcott

EWD-1 04-Jun-04 09-Jun-04 10091.94 10507.41 65k -50k 212.00

EWD-2 6-Jul-04 20-Aug-04 10016.04 10581.53 60k -40k 225.00

EWD-3 21-Aug-04 23-Sep-04 10015.35 10580.60 60k -65k 237.90

EWD-4 28-Oct-04 8-Nov-04 10094.16 10594.11 270k -45k 198.75

EWD-5 9-Nov-04 23-Nov-04 10094.32 10647.09 270k -45k 213.05

EWD-6 24-Nov-04 9-Dec-04 10041.76 10651.26 270k -45k 176.90

Sub-Total (m) 1,263.60

Aleck Hill (Saprolites)

SPD-1 21-May-04 27-May-04 10100.00 9820.00 90k -45k 45.50

SPD-2 28-May-04 3-Jun-04 10099.36 9824.89 90k -55k 176.00

SPD-3 3-Jul-04 1-Aug-04 9997.16 9802.28 90k -45k 40.00

SPD-4 5-Aug-04 Abandoned 9997.17 9801.58 90k -70k 62.00

SPD-5 17-Apr-05 19-Apr-05 10055.55 9820.56 90° -45° 55.00

SPD-6 20-Apr-05 20-Apr-05 10055.77 9819.85 90° 65° 40.00

SPD-7 20-Apr-05 21-Apr-05 10055.81 9819.21 90° 65° 44.00

SPD-8 22-Apr-05 25-Apr-05 10004.21 9804.77 90° 45° 72.00

SPD-9 25-Apr-05 27-Apr-05 10004.25 9803.91 90° 65° 67.00

114



Number Date

StartedDate


Azimuth (Grid)

Dip Total Depth (m)

SPD-10 28-Apr-05 30-Apr-05 9975.40 9783.36 90° 45° 79.50

SPD-11 30-Apr-05 01-May-05 9975.47 9782.74 90° 60° 85.00

SPD-12 02-May-05 03-May-05 9900.09 9780.11 90° 45° 45.00

SPD-13 03-May-05 05-May-05 9900.00 9783.00 90° 60° 62.00

SPD-14 01-May-05 04-May-05 9851.50 9781.50 90° 45° 71.50

SPD-15 04-May-05 08-May-05 9849.96 9779.83 90° 60° 82.00

SPD-16 06-May-05 08-May-05 9800.00 9750.00 90° 45° 84.00

SPD-17 08-May-05 10-May-05 9800.00 9750.00 90° 60° 85.00

SPD-18 09-May-05 11-May-05 9755.72 9761.97 90° 45° 62.00

SPD-19 11-May-05 16-May-05 9755.76 9737.64 90° 45° 98.00

SPD-20 20-Jun-05 25-Jun-05 9755.84 9750.08 90k -60k 81.00

SPD-21 23-Jun-05 25-Jun-05 10050.16 9879.28 270k -45k 72.00

SPD-22 26-Jun-05 28-Jun-05 9902.34 9831.21 270k -45k 80.00

SPD-23 26-Jun-05 28-Jun-05 9975.00 9780.00 90k -45k 81.00

SPD-24 28-Jun-05 29-Jun-05 9975.00 9780.00 90k -60k 95.00

SPD-25 29-Jun-05 01-Jul-05 10030.82 9804.67 90k -45k 78.00

SPD-26 01-Jul-05 03-Jul-05 10030.82 9803.94 90k -65k 90.00

Total 1,932.50

Miscellaneous Zones

KRD-1 23-Jul-04 29-Jul-04 9467.23 10835.48 270k -45k 245.00

KRD-2 24-Nov-04 5-Oct-04 9806.17 9990.77 270k -45k 51.00

KRD-3 5-Oct-04 25-Oct-04 9796.64 9991.00 270k -60k 180.55

KRD-4 25-Jan-05 29-Jan-05 9500.00 10300.00 90k -50k 198.80

KRD-5 30-Jan-05 06-Feb-05 9989.52 10618.06 131k -45k 414.00

KRD-6 23 Sept 05 27 Sept O5 9467.23 10885.48 270k -47k 270.00

Sub-Total 1,359.15 (m)

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Number Date

StartedDate


Azimuth (Grid)

Dip Total Depth (m)

Walcott Hill WHD-1 3-Mar-04 30-Jun-04 10048.63 10285.62 77k -65k 257.90

WHD-2 03-Jul-05 06-Jul-05 10089.99 10473.74 270k -60k 226.00

WHD-3 08-Jul-05 13-Jul-05 10090.33 10422.67 270k -60k 249.00

WHD-4 18-Nov-05 21-Nov-O5 10064.00 10369.00 78k -62k 101.00

WHD-5 21-Nov-05 22-Nov-05 10018.00 10373.00 90k -48k 71.00

WHD-6 23-Nov-05 24-Nov-05 9975.00 10385.91 90k -53k 92.00

WHD-7 25-Nov-05 27-Nov-05 10119.00 10326.00 90k -45k 152.00

WHD-8 26-Nov-05 04-Dec-05 10169.00 10338.00 90k -53k 85.00

WHD-9 28-Nov-05 01-Dec-05 10170.49 10336.02 78k -60k 150.00

WHD-10 01-Dec-05 03-Dec-05 9975.00 10328.00 90k -53k 150.00

WHD-11 03-Dec-05 05-Dec-05 9872.00 10318.18 90k -60k 150.00

Total 1,683.90

Mad Kiss

MKD-1 20-Jun-05 25-Jun-05 9826.53 10210.66 180k -45k 122.00

MKD-2 17-Jun-05 20-Jun-05 9817.53 10251.41 180k -60k 137.00

MKD-3 09-Jul-05 11-Jul-05 9872.99 10264.43 145k -60k 148.00

MKD-4 12-Jul-05 18-Jul-05 9883.74 10210.87 155k -70k 156.00

MKD-5 21-Jul-05 25-Jul-05 9907.92 10265.12 160k -70k 228.00

MKD-6 15-Jul-05 19-Jul-05 9895.63 10203.68 150k -70k 201.00

MKD-7 27-Jul-05 31-Jul-05 9930.97 10308.82 160k -70k 270.00

MKD-8 05-Aug-05 07-Aug-05 9850.00 10415.00 210k -65k 156.00

MKD-9 08-Aug-05 11-Aug-05 9786.00 10460.00 205k -70k 152.00

MKD-10 15-Aug-05 17-Aug-05 9880.65 10181.07 230k -70k 158.00

MKD-11 18-Aug-05 23-Aug-05 9937.00 10145.50 240k -72k 204.00

MKD-12 24-Aug-05 31-Aug-05 9900.00 10125.00 136k -70k 229.00

MKD-13 01-Sep-05 06-Sep-05 10010.00 9975.00 136k -70k 222.00

MKD - 14 18-Sep-05 20-Sep-05 9778.40 10102.15 90k -50k 219.00

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Number Date

StartedDate


Azimuth (Grid)

Dip Total Depth (m)

Total 2,602.00

South Mad Kiss

SMKD-1 26-Oct-05 30-Oct-05 9478.00 10102.00 90k -45k 102.00

SMKD-2 30-Oct-05 1-Nov-05 9437.00 10115.00 90k -45k 95.00

SMKD-3 2-Nov-05 4-Nov-05 9332.00 10076.50 90k -45k 102.00

SMKD-4 4-Nov-05 6-Nov-05 9282.00 10187.00 90k -45k 101.00

SMKD-5 6-Nov-05 8-Nov-05 9144.00 10056.50 90k -60k 102.00

SMKD-6 9-Nov-05 12-Nov-05 9210.00 10001.00 90k -80k 141.00

SMKD-7 12-Nov-05 14-Nov-05 9317.00 9909.00 90k -80k 90.00

SMKD-8 14-Nov-05 18-Nov-05 9616.00 10071.00 90k -60k 90.00

Total 825.00

Total Number of Holes 140 Total Number of Metres 31,617.85

The results of the diamond drill program were summarized under descriptions of work on the various properties in the section on “Mineralization”.

SAMPLING METHOD AND APPROACH

The various types of sampling by Guyana Goldfields are discussed below.

GEOCHEMICAL SAMPLING

STEAM SILTS

This program was a standard stream sediment sample collected from live silt in the active channel. Samples were sent to Loring in Georgetown for analysis using atomic absorption (AA) methods.

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GRAB SAMPLES

During prospecting programs on the property, grab samples of quartz veins in bedrock and float were collected. These samples were also sent to Loring in Georgetown for analysis by fire assay. The sampling was undertaken to test prospective areas and to develop new areas of interest.

SHALLOW AUGER SAMPLES

Geochemical soil sampling by Reading (2000a and b, 2003) consisted of samples collected with a small auger at a depth of " 20 cm. This type of sampling was frequently found contaminated by previous workings and surficial enrichment of gold. It is no longer used by Guyana Goldfields.

DEEP AUGER SAMPLES

Deep auger sampling was used in the current program to test the old tailings, geophysical anomalies and geochemical anomalies. The augers are hand powered and can penetrate to 4 m to 5 m depths. The first metre of material is discarded unless there is less than 2 m in the hol,e and the rest of the material is collected as 1 m samples which weigh 2 to 5 kg. If there is less than 2 m of material in the hole the first 20 cm is discarded and the rest is used as 1 m samples. Profiles (Reading, 2000b) show little correlation between values in the soil (< 20 cm from surface) and those at depth (>20 cm from surface), which suggests surface contamination through soil erosion, geochemical enrichment or surface mining. Denison (Andreazza, 1991) used deep auger sampling for exploration and evaluation of the IP anomalies.

TRENCHING

All trenching in the current program (2004-2005) was done with a backhoe. Trenches are ±3 m deep and about 0.5 m wide. They were designed to provide samples below areas disturbed by mining activity or surface geochemical enrichment. These trenches were sampled by channel samples about 5 cm wide and 5 cm deep from the center of the bottom of the trench. The length of the sample was determined by geology and ranged from 0.5 to 4.0 m in length and weighted 2 kg to 10 kg.

DIAMOND DRILLING

Guyana Goldfields completed multiple drill hole campaigns at Rory’s Knoll, Aleck Hill, Walcott Hill, East Walcott Hill, Mad Kiss and individual holes at other targets. It used large diameter core (HQ and NQ). Diamond drilling in both bedrock and saprolite obtained core recoveries of about 100%. After logging, diamond drill core was sawn on site, for sample lengths ranging from 1 m to 3 m long. Sample length is determined by geology and samples do not cross lithologic contacts or veins. The saprolite core is

118

usually cut in half with a knife but fragments of quartz vein material are split in a Longyear core splitter. All drill core is stored on the property in plastic core boxes.

SAMPLE PREPARATION, ANALYSES AND SECURITY

All samples, geochemical, grab and drill core, were shipped from the site to the Loring Laboratory (Loring), in Georgetown in plastic bags packaged within rice sacks. Each shipment is transported under the supervision of a company representative from the time it leaves the site until it reaches the laboratory. Each sample batch of 20 samples includes a Reference Material (RM) and a blank.

Sample preparation was done by Loring and the sample preparation procedures, may be summarized as follows.

! The entire interval is crushed to 95 % passing a10 mesh screen. ! A sub-sample weighing 300 g is riffle split from the crushed sample. ! The riffle split is pulverized to 80% passing 150 mesh. ! The pulps are assayed for Au using a 30 g aliquot by lead fire assay with an

atomic absorption spectrometry finish (FA-AAS). ! Samples with FA-AAS gold assays greater than 1 g/t Au are submitted for fire

assay with a gravimetric finish (FA-GRAV). ! A second split from the crushed material is prepared for samples with greater

than 1 g/t gold reported in the original sample.

DATA VERIFICATION

Although Loring, Guyana, is not a certified laboratory it is a branch of a major certified Canadian Laboratory. Cargill has verified Loring’s assay results against those obtained in Toronto by SGS (XRAL) on five quartered-core and 17 pulp samples. Cargill has also verified its results against SGS (XRAL) on previous occasions (Cargill and Gow, 2003)

Cargill collected five quarter core samples and 17 sample pulps for intervals previously analyzed by Guyana Goldfields. These samples were assayed for gold by Loring in Georgetown and by SGS in Toronto. The following table and figures show the comparisons between the results obtained by Guyana Goldfields at Loring laboratories in Guyana and by SGS in Toronto.

119

TABLE 28 QUARTER CORE SAMPLES - CHECK ASSAYS


Original Assay Split Core

Check Assays Quartered Core Sample

Number g/t Au(Loring)

g/t Au (Loring)

g/t Au (SGS)

G-1 1.40 1.50 0.72 a(1.03)

G-2 3.27 0.69 1.50

G-3 1.97 2.80 2.70

G-4 3.33 1.33 0.93

G-5 2.80 1.07 1.73

a Duplicate assay from pulp by the laboratory

TABLE 29 PULP SAMPLES - CHECK ASSAYS


SampleNumber

Original Assay Loring

Check Assay SGS

13414 1.40 3.08 13418 3.27 1.77 13430 6.20 6.76 12823 1.80 2.55 12831 2.80 3.04 36961 3.60 2.87 36990 2.43 3.41 37617 13.47 12.8 37620 1.37 1.10 13419 5.60 3.94 13436 5.07 5.57 13451 2.50 1.17 12817 4.10 3.77 12811 1.67 1.17 12857 4.27 5.31 15610 3.73 4.37 15607 3.87 3.44

Bloom (2006) licensed consulting geochemist reviewed the Guyana Goldfields assay quality control program This review concluded that: 1.) there is no evidence of

120

contamination for the gold assays based on the insertion of blanks, however, there is possible cross-contamination following samples containing greater than 2.6 g/t Au; 2.) there is no bias based on results for reference materials with grades greater than 1 g/t Au, but results for the four reference materials with expected values less than 100 ppb demonstrate the laboratory cannot distinguish between values from 49 to 91 ppb Au.

Bloom also made nine recommendations for improving the QA work on the program. They are:

1. Each laboratory work order should be checked for acceptable blank and RMs assays on receipt.

2. All eight of the failures for blanks should be investigated and new pulps prepared from the rejects to be assayed.

3. Procedures for inserting QC materials and recording data should be reviewed to minimize the number of mislabelled QC samples.

4. Sample pulps from ten samples before and ten samples after each of the 84 QC failures should be re-assayed

5. The variance between the quoted detection limit of 5 ppb Au and the variations in assays for RMs with values in the range of 49 to 91 ppb Au should be discussed with the laboratory.

6. Additional reference materials should be added to the program to cover the concentration between 0.10 g/t and 1.4 g/t Au.

7. Routine pulp duplicate data should be compiled and reviewed to determine the reproducibility of pulps for all samples.

8. It is necessary to submit one half of the core as the original sample. to test if the more mineralized half of the drill core is preferentially samples

9. Gold check assays at a secondary laboratory are recommended on pulps for 5% of the total samples.

121

ADJACENT PROPERTIES

About 10 to 15 km north of the Aurora Prospect, copper-gold mineralization has been located at the Aranka Prospect. A body of copper-gold mineralization has been outlined by diamond drilling. The best diamond drill intersection was 120 m grading 1.11 g/t Au and 0.34% Cu (Thompson, 1999). The presence of this mineralization may be significant given the known copper mineralization in the Haimaralli Falls section of the Aurora Property.

Information on adjacent properties is derived from third party reports in the public domain and the technical aspects have not been independently verified by Cargill. Technical data from these properties is not necessarily indicative of the mineralization on the Aurora Properties.

MINERAL PROCESSING AND METALLURGICAL TESTING

There are no records of metallurgical testing of material from the Aurora Property done by previous operators. .

Guyana Goldfields submitted six ± 5 kg samples of rejects from the mineralized zones at Rory’s Knoll, Aleck Hill and Mad Kiss for metallurgical testing at Lakefield Ontario. Details of the samples are presented in the following table.

TABLE 30 METALLURGICAL SAMPLES (After Heymann 2006)

Aurora Project Guyana Goldfields Inc. SampleNumber Zone Type of Material Drill Holes

G05121 Rory’s Knoll Primary mineralization/higher grade

disseminated in “Tonalite” RKD 17, 24, 34

G05122 Rory’s Knoll Primary mineralization/lower grade

disseminated in “Tonalite RKD 27, 28, 30

G05123 Aleck Hill Primary mineralization/structurally

controlled vein type AHD 1,2,3

G05124 Aleck Hill Saprolite mineralization/oxidized

material lower grade SPD 7, 8

G05125 Aleck Hill Saprolite mineralization/Oxidized

higher grade SPD 12, 22

G05126 Mad Kiss Primary MKD 2,3

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Each of these six samples underwent the following treatment as (Heymann, 2006):

! Each sample was crushed to <10 mesh. ! Representative head samples were taken from each of the five samples and

fire assayed in duplicate. ! Three 1 kg sub-samples were riffled out of each 5 kg sample for testing. ! Each of the 1 kg subsamples was ground in a laboratory ball mill to establish

the time required to get 80% of the material to <200 mesh. ! 3 – 1 kg subsample of each 5 kg sample were cyanided in a bottle on roller so

that each sample was cyanided in three bottles each containing1 kg, under the same conditions, which were:

! Samples were repulped in water to 45 % solids` ! Sufficient lime was added to each bottle to bring the pH to between

10.5 and 11 ! Cyanaide was added to bring the concentration to 0.5 g/litre ! 10 g of activated carbon was added to the bottle ! Bottles were placed on the rollers for 48 hours. NaCN concentration

and lime strength was monitored every two hours and if required more reagent was added to maintain the original concentration.

! At the end of the test the carbon was removed by filtration and the slurry was filtered. The filtrate was collected and the filter cake was washed with three displacement volumes of clean water. The wash water was added to the filtrate

! The carbon, the filtrate (barren) and the solid residue were submitted for assay.

! A metallurgical balance was preformed to calculate the head from the three leach products. This was compared to the assayed head value.

! The cyanide and lime consumption for each sample was calculated. ! Tesults of the bottle roll tests are summarized below.

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TABLE 31 RESULTS OF PRELIMINARY METALLURGICAL TESTS


Head Assay Consumption Gold

Sample Assayed Calculated NaCN CaO Recovery

Number g/T g/T kg/T kg/T %

(G05121) 2.02 3.71 0.46 0.40 94.9

(G05122) 2.24 2.38 0.57 0.36 91.9

(G05123) 8.55 8.56 0.65 0.48 91.4

(G05124) 3.50 3.78 0.45 2.96 97.4

(G05125) 7.94 8.15 0.44 1.44 97.9

(G05126) 21.75 16.16 0.59 0.36 97.6

In most cases the assayed and calculated head values are in close agreement. In samples G05121 and G05135 the differences are believed the result of the “nugget effect”. In both cases reassaying of the residue and carbon samples confirmed the initial values. As the calculated value is essentially the same as assaying 3 kg of material it is considered more accurate than the direct assays.

There was close agreement between the triplicate samples. In most cases the cyanide stopped being consumed after about 6 hours indicating a shorter leach time than the 48 hour leach time used.

Both cyanide and lime consumptions were in the normal range. The higher lime consumptions for the saprolite samples implies acid producing substances in this material.

The gold recovery of 91% to 97% indicated the samples behaved in a conventional manner and perhaps a coarser grind could have been used.

Heymann (2006) concluded:

1. All the samples tested from the Aurora prospect appeared to be free milling and might be expected to yield 92% recoveries under normal cyanide leach conditions.

2. Further work should be done when a mine plan is developed. Sampling should be designed to provide representative samples of ore to be mined in I the first few years.

124

3. Goldat a coarser grind should be investigated.

4. The new work should include leach residence times of about 8 hours.

MINERAL RESOURCE AND MINERAL RESERVE ESTIMATES

There are no Mineral Resources or Mineral Reserves outlined on the property that are consistent with the requirements of NI 43-101.

OTHER RELEVANT DATA AND INFORMATION

Guyana Goldfields does not need to obtain any further permits to complete the exploration programs proposed in this report.





! Gold was produced from underground operations at Aleck Hill and the Mad Kiss Mines between 1940 and 1948 and the gold deposits were interpreted as fracture controlled, mesothermal veins. The gold veins are accompanied by

125

ankeritization, pyritization and sericitization of the wall rocks. Where the gold veins are closely spaced, gold values approach commercial values.

! At the new Rory’s Knoll deposit, gold is associated with disseminated pyrite and silicification in a zone of narrow dykes cutting an assemblage of finely- bedded/foliated volcanic flows, tuffs, and associated sediments. The field name for this alteration zone is “Dacite Tuff”. Rory’s Knoll is completely different from the other known occurrences and provides a large volume of lower grade material.

! Currently data suggests the gold is associated with a high level, QFP phase of the Aurora intrusion. This phase, which is on the east side of the Aurora intrusion, is coarse grained and has a strong radiometric (total count) signature. Similar QFP dykes have been described from trenches, adits and drill holes in most of the known gold occurrences on the property.







126

TABLE 32 PROPOSED EXPLORATION Aurora Project Guyana Goldfields Inc.

Information

Level Mineral



High Rory*s Knoll Disseminated gold with pyrite in a highly altered shear zone with associated dykes




No planned work






IP and magnetics




















2400 South Anomaly


IP and magnetics

Low

127


RECOMMENDATIONS


PHASE ONE


Integrate the different types of information: geology, airborne and ground geophysics, silt and auger geochemical sampling, drilling data, thin section data and known mineral occurrences, into a geological model.

2. Implement the recommendations from the review of the QA/ QC procedures (Bloom, 2006). They are: ! Each laboratory work order should be checked for acceptable blank and

reference materials (RM) assays on receipt. ! All eight of the failures for blanks should be investigated and new pulps

prepared from the stored rejects to be assayed. ! Procedures for inserting QC materials and recording data should be reviewed

to minimize the number of mislabelled QC samples. ! Sample pulps from ten samples before and ten samples after each of the 84

QC failures should be re-assayed. ! The variance between the quoted detection limit of 5 ppb Au and the

variations in assays for RMs with values in the range of 49 to 91 ppb Au should be discussed with the laboratory.



128

! It is necessary to assay ½ the core as the original sample and subsequently to test the entire second ½ core to determine if the core is preferentially sampled,.






7. Continure the preliminary environmental study to obtain the baseline environmental information on the area. It is necessary to carry out a study that satisfies the international authorities as well as those in Guyana.




129


PHASE TWO









TABLE 33 PROPOSED EXPLORATION PROGRAM Aurora Project Guyana Goldfields Inc.

Program Can$

Phase One Program (12 Months)

Data Compilation - Digitizing the Database etc. 25,000

Evaluation of the QA/QC assays 10,000

Geological Consulting and Costs 500,000

Salaries (local) 100,000

Camp Maintenance (for 12 months) 60,000


Drilling Rory*s Knoll Aleck Hill

15,000 m 1,500,000

130


Program Can$

East Walcott Hill West Mad Kiss Walcott Hill South Mad Kiss Mad Kiss North Aleck HIll Powis Hill Hairmaralli Marupa 9500N to 9400N North River 2400 South

Drill collars surveys 5,000


Geology 10,000

Prospecting 75,000

Auger Geochemistry 3 anomalies need follow up work 30,000

Geophysical E`uipment 200,000


Environmental Baseline Program Aurora Properties 160,000

Metallurgical Testing Rory*s Knoll 10,000

Resource Estimate Rory*s Knoll, Aleck Hill 40,000

Assaying 175,000

Check Assaying (North American Lab) 5,000

Report Writing 5,000

Drafting 10,000


Subtotal 4,615,000


Phase One Total 5,076,500

Phase Two Program (12 Months)

Data digitizing and Modeling 25,000

131


Program Can$

Geological Consulting and Expenses 500,000

Salaries Local 100,000

Camp Maintenance (for 12 Months) 60,000


Drilling Rory*s Knoll Aleck Hill Area fAg Area fBg

25,000 m @W100 2,500,000

Drill collars, boundary surveys 15,000


Access road surveys 25,000

Geology 10,000

Prospecting 75,000

Down hole geophysical surveys 35,000


Environmental Studies and Reports 50,000

Metallugical Testing - Flowsheet 50,000

Preliminary Mine Design 35,000

Resource/Reserve Estimates 50,000

Assaying 175,000

Check Assaying 15,000

Pre-Feasibility Study 35,000


Phase 2 Subtotal 5,390,000



Total Phases One and Two $11,005,500


132

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Spector, A., 2005c, Interpretation of Airborne Geophysical Data – Block 3: Unpublished Report for Guyana Goldfields Inc.

Spector, A., 2005d, Interpretation of Airborne Geophysical Data – Block 4: Unpublished Report for Guyana Goldfields Inc.

Spector, A. and Leaver, A., 1998, Application of HRAM surveying to Cambrian exploration in the Appalachian Basin: Can. Jour. Exploration Geophysics, v. 49, pp. 1365-1368.

Thompson, J.P., 1999, Summary of the Guyana and Africa Properties, International Roraima Gold Corporation: Unpublished Report for International Roraima Gold Corporation.

Waterman, G. C., 1950, Geologic Report on Reconnaissance Examination of Property of Cuyuni Goldfields Limited, Cuyuni River British Guiana: Unpublished Report.

Webber, B.N., 1952, Reconnaissance of the Alex Hill and Mad Kiss Mines, Cuyuni Goldfields, Aurora District, Cuyuni River, British Guiana: Bulletin No. 23, Geological Survey of British Guiana.

Wright, J.L., 1990, Geophysical Summary 1990 for Aurora E.P.: Unpublished Report for Denison Mines Guyana Limited.

Wright, J.L., 1991, Geophysical Summary 1991 for Aurora E.P.: Unpublished Report for Denison Mines Guyana Limited.

136

SIGNATURE PAGE

This report titled NI 43-101 Report, Aurora Project 2005 and dated December 30, 2005 was prepared by and signed by the following authors:

(signed)

Dated at Toronto, Ontario D. George Cargill, Ph.D., P.Eng. December 30, 2005

137

CERTIFICATE OF QUALIFICATIONS

D. GEORGE CARGILL

As an author of this report entitled NI 43-101 Report, Aurora Project 2005 prepared for Guyana Goldfields Limited, and dated December 30, 2005 I hereby make the following statements:

A. My name is Donald George Cargill and I am a Consulting Geological Engineer and President of Cargill Consulting Geologists Limited. My office address is Suite 501, 55 University Avenue, Toronto, Ontario.

B. I have received the following degrees in Geological Sciences: a. BASc. 1967 University of Toronto, Toronto, Ontario b. M.Sc. 1970 Queens University, Kingston, Ontario c. Ph.D. 1975 University of British Columbia, Vancouver, B.C.

C. I am a registered Professional Engineer in the provinces of Ontario and British Columbia and designated as a Consulting Engineer in Ontario. I am also a member of:

a. The Canadian Institute of Mining, Metallurgy, and Petroleum (CIM) b. The Prospectors and Developers Association of Canada (PDAC) c. Society of Economic Geologists (Fellow)

D. I have read the definition of “qualified person” set out in National Instrument 43-101 (“NI 43-101”) and certify that by reason of my education, affiliation with a professional association (as defined in NI 43-101) and past relevant work experience I fulfill the requirements to be a “qualified person” for the purposed of NI 43-101. My relevant experience for the purpose of this report is:

! Qualifying Report for Four Gold Properties, Yunnan China for Asia Now Inc.

! Evaluation of Bom Jardim Gold Properties, Brazil, for Opawika Minerals Inc. 2004

! Qualifying Report for Kasagawigiminnis Lake Gold Property, Ontario for McVicar Minerals

! Evaluation of the Hope Bay Gold Project, N.W.T., Canada for Rousseau Asset Management, Dec. 2000.

! Resource Estimate for the Peters Gold Mine in Guyana for Guyana Goldfields Inc., April 2, 2000.

! Evaluation of the Tri-Star Gold Properties in Ghana for Tri-Star and Minorca Resources Inc., June 8, 1998.

! Evaluation of Precambrian gold deposits in Central Brazil in Goias State from 1982 to 1987 for BHP Minerals Inc. as senior consultant.

138

! Evaluation of Precambrian gold deposits in the Canadian Shield in Ontario and Quebec from 1976 to 1987 for BHP Minerals Inc. as district manager and senior consultant.

E. This report is based on a visit to the property in Guyana between Sept 16 and Sept 25, 2005 on my personal review of technical reports and other data supplied by the Issuer, on discussions with the Issuer and its representatives, discussions with the geologists working for Geological Team on the property.

F. I have been practicing as a professional geological engineer for over thirty years.

G. I have not had prior involvement with the property that is the subject of this technical report.

H. I am responsible for all sections in this technical report.

I. I am not aware of any material fact of material change with respect to the subject matter of this report which is not reflected in “the Report” the omission to disclose which makes this report misleading

J. I am independent of the Issuer applying the tests set out in section 1.5 of National Instrument 43-101.

K. I have read National Instrument 43-101 and Form 43-101F1 and this report has been prepared in compliance with National Instrument 43-101 and Form 43-101F1.

L. I consent to the filing of the Technical Report with any stock exchange and other regulatory authority and any publication by them for regulatory purposes, including electronic publication in the public company files on their websites accessible by the public, of the Technical Report

(signed and sealed)

Dated at Toronto, Ontario D. George Cargill, Ph.D., P.Eng. December 30, 2005. Consulting Geological Engineer

1-1

APPENDIX 1 TITLE INFORMATION

PROSPECTING LICENSE NO. 1

Title_Aurora_Block_#1





PROSPECTING LICENSE NO.4


PROSPECTING LICENSE NO.5


COPY OF THE PUBLICATION OF THE GRANTING OF THE FIVE PROSPECTING LICENSES

Aurora_title_Gazette

2-1

APPENDIX 2 ASSAY PROTOCOLS

A.) ASSAY PROTOCOLS FOR LORING LABORATORIES (GUYANA) LTD.

A. Assay Protocals - Loring Laboratories (Guyana) Ltd.

SAMPLE PREPARATION

Samples are usually received wet. They are arranged in numerical order and placed in pans with their respective tags. Each sample is then re-numbered with a lab code number. This number is used throughout the entire treatment of the sample and is reported with the original sample number, along with the Assay results. The samples are then placed in dryers and left overnight. Pans are washed and dried after every use.

SAPROLITE SAMPLES

An ATLAS Jaw Crusher with adjustable plates measuring 8”x51/2” and 11/4” thick is used to crush the entire sample to 1/8” or less size fraction. The Crusher is cleaned after each sample by brushing and blowing air though it. Compressed air is supplied by a model 234-3c compressor.

DRILL CORE & HARD ROCK SAMPLES

These samples are crushed in two stages. Firstly, through an Atlas Jaw Crusher, which is adjusted to give a 1/4” or less size fraction, then the sample is passed through a TM Engineering Cone Crusher with an adjustable cone. This is adjusted to give a 1/8” or less size fraction product. The sample is then riffled down to a 300 gram portion through a ½” riffle. A 2nd cut is taken after every 10th sample as a check. The reject is then placed in a bag with the sample number and lab code number and stored. Two Jaw Crusher are used, one for saprolite and the other for rock. Both Crushers and splitter are cleaned after each sample by brushing and blowing air through them.

The entire sample is then pulverized to -150 meshes using a direct drive Bico Braun Pulverizer and rolled on a mat until completely homogenized. This is also done for every tenth sample to the second cut be used as a check assay. The Pulverizer plates are cleaned after each sample by using a wire brush and grinding white sand to remove any trace of sample that might stick to the plates.

INQUART

The 300 gram portion is taken for Assay.

2-2

The sample is placed on mat and re-rolled. It is then spread out thinly on the mat. One Assay Ton of the sample is weighed by using a spatula and taking small portions from the entire surface of the mat. The weighed portion is placed in a 40 gram clay crucible containing sufficient flux to give a good fusion. The sample is fluxed according to the mineralogy of its make up.

Each fusion consists of 24 samples and is interposed whit checks (every tenth sample from the 2nd cut is weighed) along with a blank. An in house standard with values ranging from a low end to a high end is used on every other fusion. Weekly runs are made using the following CANMET Certified Reference Standards:

CH – 1 0.007 oz/ton, MA – 1 17.8 PPM MA 1b 0.497 oz/ton, MA – 3 0.218 oz/ton

FUSING

Crucibles are loaded into a D F C Diesel Furnace of 1650 degrees Fahrenheit. Temperature is turned up to 1950 degree Fahrenheit if heavy sulfides are present. About 1hr. is required to complete the fusion. Contents of crucibles are then poured into conical shaped moulds, cooled and then the slag is separated from the lead buttons. The buttons are then cubed for easier handling and cleaning. Two Diesel furnaces are used for fusing.

CUPELLATION

Cupels are charged in a D F C Electrical Furnace and heated at 1650 degrees Fahrenheit for 10 minutes. Lead buttons are then charged into the furnace which has a temperature of 1650 degrees. The door is closed and buttons are allowed to open. When all the buttons are opened the temperature is lowered to 1400 degrees and the draft door is opened. The temperature is turned up to 1500 degrees, 5 minutes before the finish. Cupels are removed from the furnace and allowed to cool.

A.A. FINISH

Beads are then removed from cupels and placed in test tubes. The tubes are placed in racks and 1 ml of 1:1 Nitric Acid is added to the bead. The racks are placed in a hot water bath until the silver is dissolved (30 mins) 11/2 mls. of Conc. HCL is added and digestion is continued for 2 more hours.

The racks are then removed and the solution is allowed to cool before voluming to 3 mls with distilled water. The solution is allowed to settle for 1 hour before running on the A.A.

The solution is read on UNICAM 969 A.A.S. using Aqueous Standards of 100, 500 and 1000 PPB and checked with 50, 200 and 700 PPB Standards. The standards are made up to match the matrix of the digestion solution. Readings are reported in PPB and

2-3

any sample >1000 ppb is re- assayed gravimetrically. Two A.A.S. are used, one for Gold and the other for Base metals. After reading, the crucible pot used in the fusion is thrown out if the result is considered to be high. Fresh aqueous standards are made up thrice weekly and acidified distilled water is passed through the A.A. in between reading. The spray chamber, burner head and burner are cleaned on a daily basis.

GRAVIMETRIC FINISH

The beads are removed from the cupels and placed in coors cups. The silver is then parted from the gold by dissolving it with 1:7 Nitric Acid. The goal bead is then washed, annealed and weighed on a SARTORIUS Micro Balance. The result is reported in grams/tonne. The Balance is checked before each use by using different ranges of calibration weights.

2-4

B.) SGS ASSAY PROTOCALS

FA305 – LEAD COLLECTION/FIRE ASSAY GRAVIMETRIC FINISH FOR GOLD

Purpose: This procedure applies to all low level geological samples to be analyzed for gold by lead collection fire assay / AA finish. Procedure:Weigh an assay ton (30 grams) or other weights as per client*s instructions into a crucible with 150 grams (or more) of flux, Mix sample, add 1 mg of silver nitrate, cover with borax. Place crucible in furnace for 45 minutes at 1080 C. Pour into cast iron mold, cool, hammer lead button free of slag. Place lead button on pre-heated cupel at 950 C all lead is removed. Remove from furnace and cool. Digest dore bead by adding 0.5 mls of 1:1 HNO3 and place in a hot water bath for 15 minutes. Add 0.5 mls HCL and return to bath for 60 minutes. Bring to final volume of 5 mls with distilled water. Instrumentation: Samples are analyzed on an Flame AA Instrument e`uipped with an auto sampler and automatic data capture. Quality Control: A reference material is digested and analyzed with each batch of 28 samples or less to ensure batch accuracy. Duplicates are digested and analyzed every 12th. sample or less to ensure batch precision. A blank is also analyzed in every batch of 28 to monitor contamination. Reporting:Results from the instruments are processed automatically, loaded into the LIMS where the QC parameters are checked before final reporting.

2-5

Elements and Reporting Limits

Detection limits Upper Limits

Au 5ppb 2,000 ppb

Standards Au ppb TDB-1 Certified Value 6.3 +/-1.0 vRAL AVG. 6.2 +/-1.2

WPR-1 Certified Value 42 +/-3 vRAL AVG. 42

+/-3

WMG-1 Certified Value 110 +/-11 vRAL AVG. 107

+/-6

2-6

FA30G –LEAD COLLECTION/FIRE ASSAY GRAVIMETRIC FINISH FOR GOLD

Purpose: This procedure applies to all ore grade geological samples to be analyzed for gold by lead collection fire assay / gravimetric finish. Procedure:Weigh an assay ton (31.1 grams) or other weights as per client*s instructions into a crucible with 150 grams (or more) of flux, Mix sample, add 1 mg of silver nitrate, cover with borax. Place crucible in furnace for 45 minutes at 1080 C. Pour into cast iron mold, cool, hammer lead button free of slag. Place lead button on pre-heated cupel at 950 C all lead is removed. Remove from furnace and cool. Beads are transferred to 10 mls cleaned Coors crucibles. Approx. 5 mls of 20% HNO3 is added. Heated until all silver is dissolved. Crucibles are thoroughly washed with distilled water and remaining gold is annealed over an open flame until gold in color. Instrumentation: Beads are weighed on the Cahn bead balance. Weights are captured by CCLAS and automatically calculated. Quality Control: A reference material is digested and analyzed with each batch of 28 samples or less to ensure batch accuracy. Duplicates are digested and analyzed every 12th. sample or less to ensure batch precision. A blank is also analyzed in every batch of 28 to monitor contamination. Reporting:Results from the balance are processed automatically, loaded into the LIMS where the QC parameters are checked before final reporting.

Element and Reporting Limits

Detection limits Au 0.03 g/mt Calculations:

When the gold is weighed on the microbalance, the weight is in milligrams. Since the sample weight was 1 AT (29.166g or 29,166mg), 1 mg of gold is e`ual to 1 oz/ton. A calculation must be carried out to

convert the weight to g/T. ___mg v 34.286496 X _____ g/T

N.B. If 1/10 AT weight is used you must multiply the result by 10.

2-7

Silver Ratio: If the gold does not turn dark brown or black during the parting process, and especially if it remains silvery or gold colored and metallic in appearance, the ratio of silver to gold was too low, and the assay bead did not part. When this happens the assay must be repeated using more silver in the inquart. There must be three times as much silver as there is gold in order for parting to take place.

3-1

APPENDIX 3 GEOPHYSICAL SURVEY

TERRAQUEST AEROMAGNETIC/SPECTROMETER SURVEY B-146 FOR GUYANA GOLDFIELDS

TERRAQUEST AEROMAGNETIC/SPECTROMETER SURVEY B-146 FOR GUYANA GOLDFIELDS INC. MARCH 11, 2005

AURORA/SAND CREEK/AKAIWONG/ PROJECT, GUYANA GEOSOFT FORMAT FINAL ARCHIVE

The survey was flown in 6 fly blocks combined to form three larger areas: -Aurora, Aurora Infill Detail, and Western Extension (archived in AuroraExtProc.GDB Geosoft database), - Sand Creek and Akaiwong (archived in SandAkai.GDB Geosoft database), and - Peters Mine (archived in PetersProc.GDB Geosoft database).

The Aurora block (in AuroraExtProc.GDB) consists of Lines 30 through 1560 and Ties 10010 through 10730.

The Aurora West Extension block (in AuroraExtProc.GDB) consists of Lines 2010 through 3060 and Ties 20010 through 20470.

The Aurora Infill Detail block (in AuroraExtProc.GDB) consists of Lines 115 though 1115 (all ending in '5').

The Sand Creek block (in SandAkai.GDB) consists of Lines 10 through 650 and Ties 10010 through 10310.

The Akaiwong Extension block (in SandAkai.GDB) consists of Lines 5010 through 5860 and Ties 50010 through 50530.

The Geosoft Oasis montaj databases contain the following channels:

Xco_Ff UTM Easting Zone 21 [WGS 84] World (m) Yco_Ff UTM Northing Zone 21 [WGS 84] World (m) XPSAD56 UTM Easting Zone 21 [PSAD56] MEAN Bolivia; Chile; Colombia;

Ecuador; Guyana; Peru; Venezuela (m) YPSAD56 UTM Northing Zone 21 [PSAD56] MEAN Bolivia; Chile; Colombia;

Ecuador; Guyana; Peru; Venezuela (m) RECS Fiducial (s) LAT_Ff Latitude [WGS 84] World (decimal degrees) LON_Ff Longitude [WGS 84] World (decimal degrees) GALT_Ff Aircraft Elevation [WGS 84] World (m) GPStm_sec GPS Time (s of week) RAD_M Aircraft Radar Terrain Clearance (m) RAD_M_L Lag Corrected Aircraft Radar Terrain Clearance (m) RAD_MLP Low-pass Filtered and Lag Corrected Aircraft Radar Terrain

Clearance (m)

3-2

RALTSTP Low-pass Filtered and Lag Corrected Aircraft Radar Terrain Clearance Corrected to STP (m)

DTM Calculated Digital Terrain Model (m) DTM_ML De-corrugated Calculated Digital Terrain Model (m) RMG3_NT Raw Tail Sensor Total Magnetic Intensity (nT) PMG3_NT Compensated Tail Sensor Total Magnetic Intensity (nT) PMG3_L Lag corrected and Compensated Tail Sensor Total Magnetic Intensity

(nT)PMG3_Lres IGRF Subtracted Lag corrected and Compensated Tail Sensor Total

Magnetic Intensity (nT) TF IGRF Total Magnetic Intensity on November 1, 2004 (nT) DEC IGRF Magnetic Declination on November 1, 2004 (degrees) INC IGRF Magnetic Inclination on November 1, 2004 (degrees) PMG3_LEV Final Levelled Tail Residual TMI (nT) PMG3_ML Micro-levelled Final Levelled Tail Residual TMI (nT) LINE Line Number FLIGHT Flight number ISP1D_cps 256-channel Downward Spectrometer Spectra (counts per s) (in .GDB

files only) ISP1U_cps 256-channel Upward Spectrometer Spectra (cps) (in .GDB files only) PRESS Ambient Air Pressure at Survey Base Temperature Ambient Air Temperature at Survey Base (degrees C) TC_rawcgi Raw Windowed Total Count (cps) K_rawcgi Raw Windowed Potassum (cps) Th_rawcgi Raw Windowed Thorum (cps) U_rawcgi Raw Windowed Uranum (cps) Cosmic_rawcgiRaw Windowed Cosmic (cps) U_Up_rawcgi Raw Windowed Upward Uranium (cps) TCFILT Filtered and Lag Corrected Windowed Total Count (cps) KFILT Filtered and Lag Corrected Windowed Potassum (cps) ThFILT Filtered and Lag Corrected Windowed Thorum (cps) UFILT Filtered and Lag Corrected Windowed Uranum (cps) CosFILT Filtered and Lag Corrected Windowed Cosmic (cps) TCLEVL Backgound Subtracted Filtered and Lag Corrected Windowed Total

Count (cps) KLEVL Backgound Subtracted Filtered and Lag Corrected Windowed Potassum

(cps)ThLEVL Backgound Subtracted Filtered and Lag Corrected Windowed Thorum

(cps)ULEVL Backgound Subtracted Filtered and Lag Corrected Windowed Uranum

(cps)TCEXP Ground Level Exposure Rate (uR/h) TCCORR Ground Concentration Total Count (ng/h) KCORR Ground Concentration Potassum (%K) ThCORR Ground Concentration Thorum (eTh ppm) UCORR Ground Concentration Uranum (eU ppm)

3-3

KCORR_ML De-corrugated Ground Concentration Potassum (%K) (Survey lines only)

TCCORR_ML De-corrugated Ground Concentration Total Count (ng/h) (Survey lines only)

The following Geosoft grids have been supplied:

Aurora_ML Aurora & Extension 25-m cell Micro-Levelled Residual TMI (nT) Aurora_RTP Aurora & Extension 25-m cell Reduced to Pole Micro-Levelled

Residual TMI (nT) Aurora_RTPVG Aurora & Extension 25-m cell Vertical Gradient of Reduced to

Pole Micro-levelled Residual TMI (nT/m) Aurora_DTM_ML Aurora & Extension 25-m cell De-corrugated Digital Terrain

Model (m) Aurora_TCCORR_ML Aurora & Extension 40-m cell De-corrugated Ground

Concentration Total Count (ng/h) Aurora_KCORR_ML Aurora & Extension 40-m cell De-corrugated Ground

Concentration Potassium (%K) SandAkai_ML Sand Creek/akaiwong 40-m cell Micro-Levelled Residual TMI

(nT)SandAkai_RTP Sand Creek/akaiwong 40-m cell Reduced to Pole Micro-Levelled

Residual TMI (nT) SandAkai_RTPVG Sand Creek/akaiwong 40-m cell Vertical Gradient of Reduced

to Pole Micro-levelled Residual TMI (nT/m) SandAkai_DTM_ML Sand Creek/akaiwong 40-m cell De-corrugated Digital

Terrain Model (m) SandAkai_TCCORR_ML Sand Creek/akaiwong 40-m cell De-corrugated Ground

Concentration Total Count (ng/h) SandAkai_KCORR_ML Sand Creek/akaiwong 40-m cell De-corrugated Ground

Concentration Potassium (%K) (where required, Geosoft color ZON files have been supplied.)

GuyKeyMap.bmp Location Map

The following 1:20,000 scale Geosoft MAP files have been supplied: PeterRTPBW Peters Mine Reduced to Pole Residual TMI Contours and Flight

Path (on film)

AuroraRTPnBW North sheet of Aurora & Extension Reduced to Pole Residual TMI Contours and Flight Path (on film)

AuroraRTPVGnBW North sheet of Aurora & Extension Vertical Gradient of Reduced to Pole Residual TMI Contours and Flight Path (on film)

AuroraDTMn North sheet of Aurora & Extension De-corrugated Digital Terrain Model Contoured Colour Image and Flight Path

3-4

AuroraTCn North sheet of Aurora & Extension De-corrugated Total Count Contoured Colour Image and Flight Path

AuroraKn North sheet of Aurora & Extension De-corrugated Potassium Contoured Colour Image and Flight Path

AuroraRTPsBW South sheet of Aurora & Extension Reduced to Pole Residual TMI Contours and Flight Path (on film)

AuroraRTPVGsBW South sheet of Aurora & Extension Vertical Gradient of Reduced to Pole Residual TMI Contours and Flight Path (on film)

AuroraDTMs South sheet of Aurora & Extension De-corrugated Digital Terrain Model Contoured Colour Image and Flight Path

AuroraTCs South sheet of Aurora & Extension De-corrugated Total Count Contoured Colour Image and Flight Path

AuroraKs South sheet of Aurora & Extension De-corrugated Potassium Contoured Colour Image and Flight Path

SandAkaiRTPnBW North sheet of Sand Creek & Akaiwong Reduced to Pole Residual TMI Contours and Flight Path (on film)

SandAkaiRTPVGnBW North sheet of Sand Creek & Akaiwong Vertical Gradient of Reduced to Pole Residual TMI Contours and Flight Path (on film)

SandAkaiDTMn North sheet of Sand Creek & Akaiwong De-corrugated Digital Terrain Model Contoured Colour Image and Flight Path

SandAkaiTCn North sheet of Sand Creek & Akaiwong De-corrugated Total Count Contoured Colour Image and Flight Path

SandAkaiKn North sheet of Sand Creek & Akaiwong De-corrugated Potassium Contoured Colour Image and Flight Path

SandAkaiRTPsBW South sheet of Sand Creek & Akaiwong Reduced to Pole Residual TMI Contours and Flight Path (on film)

SandAkaiRTPVGsBW South sheet of Sand Creek & Akaiwong Vertical Gradient of Reduced to Pole Residual TMI Contours and Flight Path (on film)

SandAkaiDTMs South sheet of Sand Creek & Akaiwong De-corrugated Digital Terrain Model Contoured Colour Image and Flight Path

SandAkaiTCs South sheet of Sand Creek & Akaiwong De-corrugated Total Count Contoured Colour Image and Flight Path

SandAkaiKs South sheet of Sand Creek & Akaiwong De-corrugated Potassium Contoured Colour Image and Flight Path

The following 1:10,000 scale Geosoft MAP files have been supplied: DetailRTPwBW West sheet of Aurora Detail Reduced to Pole Residual TMI

Contours and Flight Path (on film) DetailRTPVGwBW West sheet of Aurora Detail Vertical Gradient of Reduced to

Pole Residual TMI Contours and Flight Path (on film) DetailDTMw West sheet of Aurora Detail De-corrugated Digital Terrain Model

Contoured Colour Image and Flight Path

3-5

DetailTCw West sheet of Aurora Detail De-corrugated Total Count Contoured Colour Image and Flight Path

DetailKw West sheet of Aurora Detail De-corrugated Potassium Contoured Colour Image and Flight Path

DetailRTPeBW East sheet of Aurora Detail Reduced to Pole Residual TMI Contours and Flight Path (on film)

DetailRTPVGeBW East sheet of Aurora Detail Vertical Gradient of Reduced to Pole Residual TMI Contours and Flight Path (on film)

DetailDTMe East sheet of Aurora Detail De-corrugated Digital Terrain Model Contoured Colour Image and Flight Path

DetailTCe East sheet of Aurora Detail De-corrugated Total Count Contoured Colour Image and Flight Path

DetailKe East sheet of Aurora Detail De-corrugated Potassium Contoured Colour Image and Flight Path

Chris Vaughan, President and Chief Geophysicist CGI Controlled Geophysics Inc. 189 Clark Avenue East Thornhill, Ontario, Canada L3T 1T3

tel. (905) 881-2059 fax. (905) 881-9517 web. [email protected]

4-1

APPENDIX 4 DRILLING INFORMATION

SAMPLE DRILL LOG FOR ALEX HILL SAPROLITE PROGRAM SPD-25

SAMPLE DRILL LOG FOR RORY’S KNOLL BEDROCK PROGRAM RKD-34

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ZIM

UT

HD

EP

TH

NO

RT

HIN

GLO

GG

ED

BY

DA

TE

ST

AR

TE

DC

OR

RE

CT

ED

DO

WN

HO

LE S

UR

VE

YC

OR

E D

IAM

ET

ER

LOC

AT

ION

SK

ET

CH

OF

H

OLE

30.0

031

.50

1.50

28.5

030

.00

1.50

66.0

067

.50

1.50

67.5

069

.00

1.50

EO

H

32

3.00

5938

8

5938

7

du

plic

ate

sam

ple

75.0

078

.00

3.00

3272

.00

1.50

75.0

0

5938

670

.50

72.0

0fo

liate

d at

45

CA

171459

385

69.0

070

.50

69.0

078

.00

light

Br

hard

sar

olite

with

som

e w

eath

ered

Rx

5938

43350

5938

3

66.0

01.

5020

0

785

751

5938

264

.50

1.50

63.0

069

.00

Br

to R

-Br

sapr

olite

1559

381

63.0

064

.50

<5B

LA

NK

SA

MP

LE

ST

D O

RE

AS

62P

a10

.00

5938

0

>100

059

379

5.40

63.0

01.

50>1

000

5.23

1059

378

61.5

0

>100

059

377

61.5

063

.00

3.00

low

rec

over

y10

1.50

5937

4

>100

0

10.0

0

>100

0

4.73

15.1

0

57.0

0

>100

03.

0054

.00

57.0

054

.00

>100

0lo

w r

ecov

ery

359

376

60.0

061

.50

>100

02m

min

e w

orki

ngs

N/S

58.0

060

.00

FR

OM

TO

58.0

01.

00lo

w r

ecov

ery

50

from

min

e w

orki

ngs

5937

5

Pul

p C

hk

Au

ppb

Rej

Chk

Au

ppb

>100

01.

5051

.00

5937

2

Pul

p C

hk

Au

g/to

nne

Rej

Chk

Au

g/to

nne

To

Leng

th%

Rec

over

edA

ssay

Au

ppb

% Qtz

% Py

Sam

ple

No.

Fro

m

31.0

030

.77

51.0

059

373

Y-B

r sa

p, lo

w r

ecov

ery

beca

use

of w

ater

sat

urat

ion

63.0

051

.00

1.17

GU

YA

NA

GO

LD

FIE

LD

S D

IAM

ON

D D

RIL

L L

OG

H

OL

E N

O. S

PD

-25

PA

GE

2 O

F 2

ME

TE

RS

DE

SC

RIP

TIO

N

49.5

0

2.00

1.50

1.50

som

e P

y tra

ins

alon

g fo

liatio

n

pinp

rick

Py

xsta

ls (

som

e cu

bic)

ST

D:

OR

EA

S 6

2 P

b

BLA

NK

SA

MP

LE14

396

2.00

1438

820

.50

1438

922

.00

SA

PR

OL

ITE

: gra

y to

lt. b

row

n to

yel

low

ish-

brow

n rx

s;

note

d Q

tz fr

ags

w/in

cla

yey

sect

ions

; hig

hly

wea

ther

ed

/ oxi

dize

d rx

s; n

o tra

ce o

f Py

diss

ems;

obs

erve

d pa

rtia

lly s

ilici

fied

rxs

w/in

cla

yey

mat

'ls; n

oted

inci

pien

t fo

liatio

n tra

ces

1437

40.

001.

501.

50

1.00

51

1437

5

GU

YA

NA

GO

LD

FIE

LD

S D

IAM

ON

D D

RIL

L L

OG

H

OL

E N

O:

RK

D-3

4P

AG

E 1

OF

11

PR

OP

ER

TY

AZ

IMU

TH

DE

PT

HN

OR

TH

ING

LOG

GE

D B

YD

AT

E S

TA

RT

ED

CO

RR

EC

TE

D D

OW

NH

OLE

SU

RV

EY

C

OR

E D

IAM

ET

ER

LOC

AT

ION

SK

ET

CH

OF

H

OLE

AU

RO

RA

280

(GN

)10

009.

00R

. Cam

it12

-Apr

-05

DE

PT

HD

IPA

ZIM

UT

HD

EP

TH

DIP

AZ

IMU

TH

SIZ

EF

RO

MTO

8.5

-57.

828

1.1

94.5

-52.

127

5.4

HQ

0.00

27.0

0P

RO

JEC

TD

IPE

LEV

AT

ION

EA

ST

ING

DR

ILLE

D B

YD

AT

E C

OM

PLE

TE

D23

.5-5

6.3

282.

313

3.5

-50.

527

4.4

NQ

27.0

0

Ror

y's

Kno

ll-5

868

.31

1114

0.00

Car

ib46

.5-5

4.9

280.

415

4.5

-49.

527

3.0

272.

470

.5-5

2.7

276.

617

8.5

ME

TE

RS

DE

SC

RIP

TIO

N% Qtz

% Py

Sam

ple

No.

Fro

mT

oLe

ngth

-48.

2P

ulp

Chk

A

u g/

tonn

eR

ej C

hk A

u g/

tonn

eF

RO

MT

O%

Rec

over

edA

ssay

Au

ppb

Pul

p C

hk

Au

ppb

Rej

Chk

Au

ppb

__

SO

IL C

OV

ER

: cla

yey

mat

'ls w

/ rem

nant

s of

pla

nt

mat

'ls.;

pale

bro

wn

to r

eddi

sh-b

row

n co

lore

d rx

s

0.00

4.40

__

1.50

3.00

1.50

33

__

1437

63.

004.

401.

4019

4.40

17.6

0_

_14

377

4.40

6.00

1.60

24

8_

1437

86.

007.

501.

50

50_

1437

97.

509.

00

58 56

__

1438

09.

00

1.50

10.0

014

50_

1438

110

.00

11.5

01.

5010

10_

1438

211

.50

13.0

01.

5014

5_

1438

313

.00

14.5

01.

5020

25

__

1438

414

.50

16.0

01.

5015

__

1438

516

.00

17.6

01.

6026

17.6

086

.60

__

1438

617

.60

19.0

01.

4085

TR

_14

387

19.0

020

.50

1.50

21

22.0

01.

5017

0.5

TR

FE

LS

IC T

UF

F:

lt gr

ay c

olor

ed to

fles

h-co

lore

d rx

s;

high

ly o

xidi

zed/

blea

ched

/sili

cifie

d at

con

tact

s (in

ferr

ed)

w/ s

apro

lite

units

; fin

e-gr

aine

d rx

s; w

k to

mod

folia

ted

35°-

40°

TC

A b

ut e

xtre

mes

at 2

5° T

CA

; Qtz

vn

g/st

rs/v

nlts

mos

tly a

long

folia

tion

and

som

e pa

ralle

l T

CA

__

TR

23.5

01.

50<5

0.5

1439

023

.50

25.0

01.

50<5

0.5

0.5

1439

125

.00

27.0

02.

00<5

1T

R14

392

27.0

030

.00

3.00

10

TR

1439

332

.00

2.00

30.0

08

TR

11

TR

TR

1439

430

.00

32.0

02.

0092

11.1

7>1

000

<5

1439

5

0.5

0.5

1439

732

.00

34.0

02.

0011

TR

0.5

1439

834

.00

36.0

02.

008

0.5

0.5

1439

936

.00

38.0

02.

0010

4 cm

Qtz

vnl

t + s

trs

2T

R14

400

38.0

040

.00

<5

influ

x of

thin

ash

tuff

band

s; in

c P

y0.

50.

514

520

40.0

042

.00

2.00

6

72.0

0

GU

YA

NA

GO

LD

FIE

LD

S D

IAM

ON

D D

RIL

L L

OG

H

OL

E N

O. R

KD

-34

PA

GE

2 O

F 1

1

74.0

02.

00

0.5

TR

no a

sh tu

ff; n

oted

mm

-wid

e bl

uish

-whi

te Q

tz?s

trs

152.

0044

.00

52.0

02.

005

54.0

0

50.0

02.

0010

TR

0.5

42.0

014

521

LOG

GE

D B

YD

AT

E S

TA

RT

ED

44.0

014

522

CO

RR

EC

TE

D D

OW

NH

OLE

SU

RV

EY

A

ZIM

UT

HD

EP

TH

AZ

IMU

TH

To

Leng

thM

ET

ER

SD

ES

CR

IPT

ION

% Qtz

% Py

Pul

p C

hk

Au

g/to

nne

Rej

Chk

Au

g/to

nne

FR

OM

TO

%R

ecov

ered

Ass

ay A

u pp

bP

ulp

Chk

A

u pp

bR

ej C

hk A

u pp

b

Sam

ple

No.

Fro

m

25°

TC

A fo

liatio

n; 4

cm

Qtz

vnl

t alo

ng fo

liatio

n2

114

525

50.0

07

subh

edra

l to

euhe

dral

Py

pinp

rick

diss

ems

TR

114

526

52.0

02.

0015

10-1

1 cm

Qtz

vn

+ st

rs; s

ome

Py

trai

ns6

114

524

48.0

0

52.

0046

.00

TR

0.5

172.

0048

.00

46.0

014

523

TR

0.5

1452

754

.00

56.0

02.

008

~ 1

cm Q

tz v

nlt +

str

s0.

50.

514

528

56.0

058

.00

2.00

11

0.5

0.5

1452

958

.00

60.0

02.

0020

TR

0.5

1453

060

.00

62.0

02.

008

TR

0.5

1453

162

.00

64.0

02.

0014

_0.

514

532

64.0

066

.00

2.00

17

~ 1

cm Q

tz p

aral

lel T

CA

0.5

0.5

1453

366

.00

68.0

0

TR

0.5

1453

468

.00

70.0

0

2.00

58

70.0

072

.00

2.00

0.5

0.5

12

0.5

72.0

070

.00

64

2.00

9

0.5

1454

2

1453

9

2.00

78.0

0

2.00

2.00

ST

D:

OR

EA

S 1

7 P

b

BLA

NK

SA

MP

LE14

538

TR

>100

02.

03

0.5

1453

7

0.5

1453

6

<5

0.5

24

5-2-

1-1

cm Q

tz v

n/vn

lts +

str

s5

0.5

1454

074

.00

76.0

081

1 cm

Qtz

vnl

t 30°

TC

A3

0.5

1454

176

.00

78.0

030

TR

80.0

02.

0025

1-1-

2 cm

Qtz

vnl

ts +

str

s; d

ec P

y2

1454

380

.00

82.0

02.

0030

0.5

0.5

1454

482

.00

84.0

02.

0028

0.5

0.5

1454

584

.00

86.6

02.

60<5

<5

86.6

093

.40

0.5

TR

1454

686

.60

89.0

02.

4020

1T

R14

547

89.0

014

0.5

_14

548

91.0

0

2.00

93.4

02.

40

91.0

0

25

93.4

098

.00

_0.

514

549

93.4

095

.00

1.60

14 10_

_

__

N/S

97.0

0

2.00

98.0

01.

00

97.0

014

550

95.0

0

VO

LC

AN

ICS

/VO

LC

AN

IC S

ED

IME

NT

S: g

reen

to d

ark

gree

n co

lore

d rx

s; m

ediu

m g

rain

ed; r

are

to a

bsen

t Py

AS

H T

UF

F: b

lack

-gre

en-g

ray

alte

rnat

ing

band

s ex

hibi

ting

mic

rofo

lds

mos

tly a

long

folia

tion

25°

TC

A

~ 1

cm Q

tz v

nlt 9

0° T

CA

-42

PR

OJE

CT

DIP

ELE

VA

TIO

NE

AS

TIN

GD

RIL

LED

BY

DA

TE

CO

MP

LET

ED

229.

5

FR

OM

269.

430

7.5

-37.

326

7.9

325.

5-3

6.4

267.

8

DIP

PR

OP

ER

TY

AZ

IMU

TH

DE

PT

HN

OR

TH

ING

CO

RE

DIA

ME

TE

RLO

CA

TIO

N S

KE

TC

H O

F

HO

LED

EP

TH

DIP

SIZ

ETO

202.

5-4

627

1.3

283.

5-3

8.3

267.

9

250.

526

8.1

268.

5-3

8.7

267.

9-3

9.8

1453

5

DA

TE

ST

AR

TE

DC

OR

RE

CT

ED

DO

WN

HO

LE S

UR

VE

Y

CO

RE

DIA

ME

TE

RA

ZIM

UT

HD

EP

TH

AZ

IMU

TH

PR

OJE

CT

DIP

ELE

VA

TIO

NE

AS

TIN

G

DE

PT

HD

IPP

RO

PE

RT

YLO

GG

ED

BY

DA

TE

CO

MP

LET

ED

153.

00

min

or in

cl. o

f ser

icite

sch

ist (

?) @

171

.88-

172

m

TR

2.40

Leng

th%

Rec

over

ed

LOC

AT

ION

SK

ET

CH

OF

H

OLE

TO

Ass

ay A

u pp

bP

ulp

Chk

A

u pp

bR

ej C

hk A

u pp

bP

ulp

Chk

A

u g/

tonn

eR

ej C

hk A

u g/

tonn

e

SIZ

EF

RO

MD

IP

GU

YA

NA

GO

LD

FIE

LD

S D

IAM

ON

D D

RIL

L L

OG

H

OL

E N

O. R

KD

-34

PA

GE

3 O

F 1

1

ME

TE

RS

DE

SC

RIP

TIO

N% Qtz

% Py

Sam

ple

No.

Fro

mT

oF

RO

MT

O

98.0

010

1.70

VO

LC

AN

ICS

/VO

LC

AN

IC S

ED

IME

NT

S: a

s 86

.60-

93.4

0 m

101.

703.

701

_N

/S98

.00

101.

7010

3.55

0.5

TR

1.85

103.

55N

/S10

1.70

103.

5510

6.10

TR

TR

N/S

103.

5510

6.10

2.55

106.

1010

8.50

TR

TR

N/S

106.

1010

8.50

108.

5014

9.55

0.5

108.

5014

9.55

41.0

5

154.

85T

R14

9.55

149.

553.

45

>100

0

<5

TR

1455

6S

TD

: O

RE

AS

62

Pb

1455

7

0.5

TR

1455

415

3.00

154.

851.

85

0.5

154.

85T

R14

555

153.

001.

8586

11.0

0

11

VO

LC

AN

ICS

/VO

LC

AN

IC S

ED

IME

NT

S: w

kly

folia

ted

35°

TC

A; d

omin

antly

x-c

ross

ed b

y ca

rb s

trs/

vnlts

VO

LC

AN

ICS

/VO

LC

AN

IC S

ED

IME

NT

S: a

s 98

-101

.70

mAZ

IMU

TH

DE

PT

H

N/S

TR

N/S

26T

R

BLA

NK

SA

MP

LE

1455

815

4.85

157.

002.

15

TR

154.

8520

2.00

0.5

TR

1455

915

7.00

159.

002.

0011

30.

514

560

159.

0016

1.00

2.00

32

111

1456

116

1.00

163.

002.

0037

516

5.00

2.00

460.

5

0.5

1456

416

7.00

0.5

1456

516

8.00

1456

216

3.00

1456

316

5.00

0.5

0.5

167.

002.

0021

TR

168.

001.

0044

1017

0.00

2.00

55

TR

171.

00T

R14

566

170.

001.

0011

inc

Py

diss

ems

TR

186.

003.

0014

568

183.

00810

TR

TR

1456

717

1.00

174.

003.

00

TR

TR

N/S

174.

0018

3.00

9.00

AS

H T

UF

F: a

s 10

6.1-

108.

5 m

AS

H T

UF

F: a

s 93

.40-

98 m

AS

H T

UF

F: a

s 10

1.70

-103

.55

m

NO

RT

HIN

G

DR

ILLE

D B

Y

VO

LC

AN

ICS

/VO

LC

AN

IC S

ED

IME

NT

S: l

t. gr

een

to

gree

n co

lore

d rx

s; g

ener

ally

wkl

y fo

liate

d 45

°T

CA

; inc

am

ts o

f Py

diss

ems

(fin

e-gr

aine

d) m

ostly

alo

ng Q

tz

strs

/vnl

ts; i

nc in

tens

ity o

f fol

iatio

n (m

oder

ate)

tow

ards

th

e co

ntac

t w/ f

elsi

c tu

ff @

30°

TC

A; m

inor

car

b in

ters

titia

l xst

als

114

571

219

2.00

1458

5

0.5

1457

5

TR

1457

6

1457

9

1457

2

TR

1457

72.

00

TR

1459

1

211.

00

204.

92

209.

00

1458

6

1458

7

1458

1

1458

4

FE

LS

IC T

UF

F: f

resh

to lt

. grn

-gry

rxs

; 30°

TC

A a

t co

ntac

t w/ a

bove

vo

lcan

ics/

volc

anic

sed

imen

ts u

nits

~1

cm Q

tz v

nlt

ST

D:

OR

EA

S 6

1 P

b

BLA

NK

SA

MP

LE

1458

020

2.00

204.

922.

92

213.

00

215.

00

1.16

222.

06

GU

YA

NA

GO

LD

FIE

LD

S D

IAM

ON

D D

RIL

L L

OG

H

OL

E N

O. R

KD

-34

PA

GE

4 O

F 1

1

% Qtz

% Py

Sam

ple

No.

Fro

mT

oLe

ngth

%R

ecov

ered

Ass

ay A

u pp

bP

ulp

Chk

A

u pp

bR

ej C

hk A

u pp

bP

ulp

Chk

A

u g/

tonn

eR

ej C

hk A

u g/

tonn

eF

RO

MT

O

ME

TE

RS

DE

SC

RIP

TIO

N

2.00

mm

-wid

e Q

tz s

trs

<50.

50.

514

569

186.

00

~1 c

m Q

tz v

nlt +

str

s; c

ubic

Py

0.5

2.00

0.5

1457

018

8.00

190.

00

190.

0019

2.00

2.00

~ 1-

2-1

cm Q

tz v

nlts

+ s

trs

2

6

>100

0

188.

00

1.13

~ 1

cm Q

tz v

nlt @

folia

tion;

90°

TC

A; p

aral

lel T

CA

50

200.

0020

2.00

198.

0020

0.00

200.

0020

2.00

198.

00

2.00

2.00

2.00

>100

0

>100

0

641

>100

0

<5

196.

002.

0052

0

194.

002.

006.

47

~ m

m-w

ide

Qtz

str

s pa

ralle

l TC

A5

114

573

194.

00

1-8-

1 cm

Qtz

vnl

t/vn

+ st

rs5

0.5

1457

419

6.00

1.57

0.5

701

TR

TR

2571

1457

83.

33

0.5

TR

18

204.

9220

7.10

0.5

0.5

206.

0010

TR

TR

1458

220

6.00

1.08

207.

101.

1015

207.

1021

6.20

TR

0.5

1458

320

7.10

209.

001.

9069

8

>100

010

.87

853

2.00

502

VO

LC

AN

ICS

/VO

LC

AN

IC S

ED

IME

NT

S: n

oted

isol

ated

po

cket

s of

Qtz

bxa

/vn

mat

ls c

once

ntra

ted

w/ f

ine

Py

diss

ems;

frag

, sili

cifie

d ho

stro

ck; a

brup

t inc

Py

diss

ems

w/in

bxa

rxs

; min

or f

elsi

c tu

ff

incl

usio

ns/c

last

s (?

)

213.

002.

00

211.

00

>100

0>1

000

6.40

6.73

21

215.

002.

00>1

000

40.

51.

2021

6.20

1.13

214

216.

2022

2.06

0.5

0.5

1458

821

6.20

458

1458

921

8.00

1.80

220.

002.

00

218.

00

30.

5>1

000

2.43

TR

0.5

1459

022

0.00

222.

062.

068

222.

0622

3.22

213

922

3.22

14131822

3.22

228.

63T

RT

R14

592

223.

2222

4.00

0.78

10.

514

593

224.

0022

6.00

2.00

1T

R14

594

226.

0022

8.63

2.63

FE

LS

IC T

UF

F: f

lesh

to b

row

nish

-gry

rxs

; fin

e-gr

aine

d;

wkl

y fo

liate

d 40

°-45

° T

CA

; 45°

TC

A a

t con

tact

w/

volc

anic

s/vo

lcan

ic s

edim

ents

uni

ts b

elow

VO

LC

AN

ICS

/VO

LC

AN

IC S

ED

IME

NT

S: a

s 20

7.1-

216.

20 m

FE

LS

IC T

UF

F: a

s 21

6.20

-222

.06

m; w

kly

folia

ted

50°

TC

A

242.

8324

4.00

244.

0024

6.00

FE

LS

IC T

UF

F: s

eric

ite-r

ich

rxs;

wk

folia

ted

50°

TC

A;

also

45°

TC

A in

con

tact

w/ a

sh tu

ff be

low

0.5

1461

024

6.00

TO

ME

TE

RS

DE

SC

RIP

TIO

N

0.5

% Qtz

TR

GU

YA

NA

GO

LD

FIE

LD

S D

IAM

ON

D D

RIL

L L

OG

H

OL

E N

O. R

KD

-34

PA

GE

5 O

F 1

1 Rej

Chk

Au

g/to

nne

Rej

Chk

Au

ppb

% Py

1459

522

8.63

230.

001.

37

%R

ecov

ered

Ass

ay A

u pp

b

120.

5

Pul

p C

hk

Au

g/to

nne

Pul

p C

hk

Au

ppb

Sam

ple

No.

Fro

mT

oLe

ngth

1.24

15 14_

0.5

1459

623

0.00

231.

24

231.

2423

2.76

_0.

514

597

231.

2423

2.76

1.52

1.01

1216

0.5

1459

823

2.76

233.

77

233.

7723

5.90

_0.

5F

EL

SIC

TU

FF

: as

231.

24-2

32.7

6 m

1.23

235.

00

_0.

5

1459

923

3.77

12

1460

023

3.77

1.23

14

232.

7623

3.77

228.

6323

1.24

FR

OM

1460

1S

TD

: O

RE

AS

61

Pb

FE

LS

IC T

UF

F: a

s 23

7-23

9.33

m; w

k to

mod

folia

ted

55°

TC

A

1.17

2.00

<5

2.13

1460

2

>100

0

_0.

514

603

235.

0023

5.90

0.90

7

235.

9023

7.00

_V

OL

CA

NIC

S/V

OL

CA

NIC

SE

DIM

EN

TS

: gra

y co

lore

d rx

s; w

kly

folia

ted

50°

TC

A

140.

514

604

235.

9023

7.00

1.10

237.

0023

9.33

TR

FE

LS

IC T

UF

F: p

ale-

brow

n-gr

y rx

s; s

eric

ite-r

ich;

wkl

y fo

liate

d 50

° T

CA

80.

514

605

237.

0023

9.33

102.

33

239.

3324

2.83

0.5

TR

1460

623

9.33

240.

501.

1729

_0.

5A

SH

TU

FF

: not

ed in

clus

ions

of s

eric

ite-r

ich

fels

ic tu

ff as

inte

r-fin

gerin

g de

posi

ts14

607

240.

5024

2.83

2.33

44

242.

8324

9.15

_0.

514

608

5

_0.

514

609

<5

_24

8.00

2.00

8

_1.

150.

514

611

248.

0024

9.15

24 136

249.

1525

0.37

80.

5A

SH

TU

FF

: as

228.

63-2

31.2

4 m

1461

224

9.15

250.

371.

22

250.

3725

2.57

_T

R14

643

250.

3725

2.57

2.20

42

BLA

NK

SA

MP

LE

AS

H T

UF

F: m

icro

fold

s m

ainl

y bl

ack

band

s of

ash

ev

iden

t alo

ng fo

liatio

n 50

° T

CA

; als

o at

con

tact

s w

/ fe

lsic

tu

f f

AS

H T

UF

F: w

/in m

atrix

of

fels

ic t

uff

but

dom

inan

t ash

tu

ff m

ater

ial (

wed

ges?

)

FE

LS

IC T

UF

F: m

inor

ash

tuff

incl

usio

ns

235.

00

290.

0029

1.88

1.88

AS

H T

UF

F: a

s 24

9.15

-250

.37

m; i

nfer

red

cont

act

belo

w; m

od fo

liate

d 45

° T

CA

FE

LS

IC T

UF

F: w

kly

folia

ted

50°

TC

A; s

eric

ite-r

ich

at

sect

ions

; 45°

TC

A in

con

tact

w/ a

sh tu

ff be

low

AS

H T

UF

F: c

onta

in m

inor

incl

usio

ns o

f fel

sic

tuff

but

dom

inan

tly a

sh tu

ff la

yerin

gs/b

andi

ngs

exhi

bitin

g m

icro

fold

s m

ostly

alo

ng w

k to

mod

folia

tion

50°

TC

A;

shar

p co

ntac

t 50°

TC

A w

/ fel

sic

tuff

belo

w

BLA

NK

SA

MP

LE

288.

0029

0.00

2.00

FE

LS

IC T

UF

F: a

s 26

1-26

8.66

m; l

t. gr

eeni

sh-g

ry r

xs;

fine-

grai

ned;

wkl

y fo

liate

d 50

° T

CA

; not

ed in

c pi

npric

k cu

bic

to s

ubhe

dral

Py

diss

ems

To

Leng

th

GU

YA

NA

GO

LD

FIE

LD

S D

IAM

ON

D D

RIL

L L

OG

H

OL

E N

O. R

KD

-34

PA

GE

6 O

F 1

1M

ET

ER

SD

ES

CR

IPT

ION

% Qtz

% Py

Pul

p C

hk

Au

g/to

nne

Rej

Chk

Au

g/to

nne

FR

OM

TO

%R

ecov

ered

Ass

ay A

u pp

bP

ulp

Chk

A

u pp

bR

ej C

hk A

u pp

b

Sam

ple

No.

Fro

m

252.

5726

1.00

TR

TR

N/S

252.

5726

1.00

8.43

261.

0026

8.66

0.5

0.5

N/S

261.

0026

4.00

3.00

0.5

TR

1464

426

4.00

266.

002.

0040

230.

514

645

266.

0026

8.66

2.66

5350

268.

6629

1.88

2T

R14

646

268.

6627

0.00

1.34

38

80.

514

647

270.

0027

2.00

2.00

44

11T

R14

648

272.

0027

4.00

2.00

61

TR

TR

1464

927

4.00

276.

002.

0046

TR

TR

1465

027

6.00

278.

002.

0042

10.

514

651

278.

0028

0.00

2.00

41

0.5

TR

1465

228

0.00

282.

002.

0030

0.5

TR

1465

328

0.00

282.

002.

0026

1465

4S

TD

: O

RE

AS

61

Pb

>100

0

TR

1465

628

2.00

284.

002.

00

11.2

3

1465

5<5

<5

TR

<5

20.

514

657

284.

0028

6.00

2.00

81

TR

0.5

1465

828

6.00

288.

002.

0026

TR

0.5

1465

914

0.5

0.5

1466

017

291.

8831

3.28

TR

0.5

1466

129

1.88

294.

00

0.5

296.

002.

0040

2.12

0.5

1466

229

4.00

5

0.5

1466

630

2.00

1466

730

4.00

0.5

0.5

1466

329

6.00

298.

002.

0025

10.

514

664

298.

0030

0.00

2.00

8

TR

114

665

300.

0030

2.00

2.00

1014

0.5

304.

002.

005

0.5

0.5

0.5

1466

930

8.00

310.

002.

00

5

1466

832

306.

0030

8.00

2.00

306.

002.

00

10.

5~

1 cm

Qtz

vnl

t alo

ng fo

liatio

n 40

° T

CA

; 5 m

m p

aral

lel

TC

A0.

5

0.5

310.

0031

2.00

10

2.00

50.

514

670

BLA

NK

SA

MP

LE

FE

LS

IC T

UF

F: a

s 31

8-32

0.79

m; l

ithic

-ric

h; in

ferr

ed

cont

act w

/ ash

tuff

belo

w

1414

679

319.

5032

0.79

1.29

0.5

0.5

<5 78 36

1467

8

2.00

1468

232

4.00

325.

921.

92

2.33

>100

0S

TD

: O

RE

AS

61

Pb

42

322.

0032

4.00

1467

7

1468

032

0.79

322.

001.

21

1468

1

AS

H T

UF

F: a

s 26

8.66

-291

.88

m; a

brup

t inc

in c

arb

vnlts

/str

s; s

ubhe

dral

to c

ubic

Py

diss

ems;

not

ed P

y tr

ains

alo

ng fo

liatio

n 55

° T

CA

; som

e Q

tz s

trs/

vnlts

pa

ralle

l TC

A

GU

YA

NA

GO

LD

FIE

LD

S D

IAM

ON

D D

RIL

L L

OG

H

OL

E N

O. R

KD

-34

PA

GE

7 O

F 1

1

To

Leng

thM

ET

ER

SD

ES

CR

IPT

ION

% Qtz

% Py

Pul

p C

hk

Au

g/to

nne

Rej

Chk

Au

g/to

nne

FR

OM

TO

%R

ecov

ered

Ass

ay A

u pp

bP

ulp

Chk

A

u pp

bR

ej C

hk A

u pp

b

Sam

ple

No.

Fro

m

0.5

0.5

1467

131

2.00

313.

281.

2815

313.

2831

8.00

TR

0.5

1467

231

3.28

315.

001.

7244

151

1467

331

5.00

317.

002.

0028

TR

114

674

317.

0031

8.00

1.00

51

318.

0032

0.79

0.5

FE

LS

IC T

UF

F: a

s 29

1.88

-313

.28

m; l

ithic

-ric

h;

gray

ish-

brow

n rx

s; fi

ne-g

rain

ed; v

uggy

Qtz

str

s / v

nlts

114

675

318.

0031

9.50

1.50

3339

0.5

114

676

318.

0031

9.50

1.50

30

320.

7932

5.92

0.5

TR

AS

H T

UF

F: m

od fo

liate

d 50

°-55

° T

CA

; bla

ck to

gr

eeni

sh-g

ray

alte

rnat

ing

band

s al

ong

folia

tion

0.5

TR

0.5

0.5

325.

9232

7.50

0.5

AS

H T

UF

F: a

s 32

7.50

-329

.53

m; m

inor

incl

usio

ns o

f fe

lsic

tuff;

mic

rofo

lds

still

evi

dent

FE

LS

IC T

UF

F: w

k to

mod

folia

tion

40°-

45°

TC

A; n

oted

so

me

Qtz

eye

s (?

); in

c am

ts o

f lar

ge P

y xs

tals

(a

nhed

ral-s

ubhe

dral

-cub

ic)

0.5

1468

332

5.92

327.

501.

5842

327.

5032

9.53

101

1468

432

7.50

329.

532.

03>1

000

1.20

AS

H T

UF

F: a

s 32

0.79

-329

.53

m; n

oted

inlc

usio

ns o

f fe

lsic

tuff

(xen

olith

s?);

inc

amts

of c

ubic

Py

diss

emin

atio

ns a

t con

tact

s w

ith x

enol

ith /

Qtz

vei

ning

s

329.

5333

9.42

0.5

FE

LS

IC T

UF

F: w

k fo

liatio

n 50

° T

CA

; not

ed m

inor

fu

schs

ite m

nls;

sub

hedr

al to

cub

ic P

y al

ong

folia

tion;

so

me

larg

e P

y xs

tals

(~4

-5 m

m d

ia s

ize)

inc

in a

mts

0.5

1468

532

9.53

332.

002.

4789

0.5

114

686

332.

0033

4.00

133

6.00

2.00

40

2.00

114

689

338.

00

21

114

687

334.

00

114

688

336.

0038

0.5

338.

002.

0042

0.5

339.

421.

4230

339.

4234

4.73

0.5

342.

002.

5841

0.5

1469

033

9.42

1469

134

2.00

1469

2

0.5

0.5

344.

732.

7350

344.

7335

1.40

0.5

0.5

344.

7334

6.00

1.27

25

10.

514

693

346.

0034

8.00

2.00

33

0.5

114

694

348.

0035

0.00

2.00

37

TR

400.

514

695

350.

0035

1.40

1.40

ST

D:

OR

EA

S 6

1 P

b

BLA

NK

SA

MP

LE

DA

CIT

IC T

UF

F: u

nalte

red

to le

ss a

ltere

d w

/ abu

ndan

t fu

schi

te (

?); w

kly

folia

ted

60°

TC

A

FE

LS

IC T

UF

F: m

inor

ash

tuff

incl

usio

ns; w

kly

folia

ted

35°-

40°

TC

A; w

/ pin

pric

k P

y di

ssem

s

DA

CIT

IC T

UF

F: r

xs p

oorly

to w

kly

folia

ted

50°-

55°

TC

A; f

ine

to m

ediu

m g

rain

ed; x

enol

iths

of fe

lsic

tuff

@

382.

60-3

83 m

, 393

.10-

393.

20 m

& 3

93.4

9-39

3.71

m

with

in D

aciti

c T

uff m

atrix

(in

trus

ive?

); w

k to

mod

am

ts

of fu

chsi

te m

nls

mos

tly e

long

ated

alo

ng fo

liatio

n;

obse

rved

fuch

site

mnl

s al

tere

d (?

) to

cub

ic P

y (?

);

note

d Q

tz e

yes

GU

YA

NA

GO

LD

FIE

LD

S D

IAM

ON

D D

RIL

L L

OG

H

OL

E N

O. R

KD

-34

PA

GE

8 O

F 1

1

To

Leng

thM

ET

ER

SD

ES

CR

IPT

ION

% Qtz

% Py

Pul

p C

hk

Au

g/to

nne

Rej

Chk

Au

g/to

nne

FR

OM

TO

%R

ecov

ered

Ass

ay A

u pp

bP

ulp

Chk

A

u pp

bR

ej C

hk A

u pp

b

Sam

ple

No.

Fro

m

351.

4035

3.63

0.5

TR

1469

635

1.40

353.

632.

2329

353.

6338

2.00

0.5

1469

735

3.63

356.

002.

3765

0.5

0.5

1469

835

6.00

358.

002.

0031

36

0.5

0.5

1469

935

6.00

358.

002.

0028

1470

0

?Ser

icite

-ric

h @

359

.53-

376.

67 m

; not

able

pin

pric

k lit

hic-

rich

mat

rix; w

kly

folia

ted

50°

TC

A; m

inor

fuch

site

m

nls

note

d; p

ale

gree

n co

lore

d rx

s

0.5

1470

2

TR

1470

9

0.5

1471

3

>100

010

.40

1470

1<5

135

8.00

359.

531.

5367

7

0.5

0.5

1470

335

9.53

362.

002.

4778

TR

TR

1470

436

2.00

364.

002.

0033

1T

R14

705

364.

0036

6.00

2.00

41

TR

TR

1470

636

6.00

368.

002.

0030

_T

R14

707

368.

0037

0.00

2.00

14

0.5

0.5

1470

837

0.00

372.

002.

0039

32

0.5

372.

0037

4.00

2.00

50

0.5

TR

1471

037

4.00

375.

501.

5025

0.5

TR

1471

137

5.50

376.

671.

1745

dec

seric

ite a

mts

; cre

amy-

brow

n co

lore

d rx

s0.

50.

514

712

376.

6737

8.00

1.33

33

inc

fuch

site

mnl

s al

ong

folia

tion

137

8.00

380.

002.

0030

20.

514

714

380.

0038

2.00

2.00

71

382.

0039

6.27

0.5

0.5

1471

538

2.00

384.

002.

0045

10.

514

716

384.

0038

6.00

2.00

43

1T

R14

717

386.

0038

8.00

2.00

57

0.5

_14

718

388.

0039

0.00

2.00

4447

0.5

TR

1471

939

0.00

392.

002.

0034

_T

R14

720

392.

0039

4.00

2.00

28

20.

514

721

394.

0039

6.27

2.27

271

ST

D:

OR

EA

S 6

1 P

b

BLA

NK

SA

MP

LE

ST

D:

OR

EA

S 6

1 P

b

BLA

NK

SA

MP

LE

1-1-

6 cm

Qtz

vnl

ts/v

n +

strs

; inc

Py

FE

LS

IC T

UF

F: a

s 37

6.67

-378

m; n

oted

larg

e P

y xs

tals

(~

5-6

mm

dia

siz

e); w

kly

folia

ted

55°-

60°

TC

A;

pale

gre

en to

cre

amy

brow

n co

lore

d rx

s

GU

YA

NA

GO

LD

FIE

LD

S D

IAM

ON

D D

RIL

L L

OG

H

OL

E N

O. R

KD

-34

PA

GE

9 O

F 1

1

To

Leng

thM

ET

ER

SD

ES

CR

IPT

ION

% Qtz

% Py

Pul

p C

hk

Au

g/to

nne

Rej

Chk

Au

g/to

nne

FR

OM

TO

%R

ecov

ered

Ass

ay A

u pp

bP

ulp

Chk

A

u pp

bR

ej C

hk A

u pp

b

Sam

ple

No.

Fro

m

396.

2740

8.00

10.

514

722

396.

2739

8.00

1.73

>100

02.

10

51

1472

339

8.00

400.

002.

00>1

000

5.07

10.

514

724

400.

0040

2.00

2.00

>100

01.

27

abru

pt in

c fin

e P

y di

ssem

s0.

51

1472

540

2.00

404.

002.

0017

4

0.5

114

726

404.

0040

6.00

2.00

113

0.5

114

727

404.

0040

6.00

2.00

202

1472

8>1

000

11.3

0

0.5

114

729

<5

0.5

114

730

406.

0040

8.00

2.00

152

408.

008

3D

AC

ITIC

TU

FF

: gre

enis

h-gr

ay to

pin

kish

-bro

wn

rxs;

m

ediu

m g

rain

ed r

xs; a

ltere

d ve

rsio

n o

f dep

ths

351.

40-

353.

63 m

; Qtz

sto

ckw

orks

zon

e #

1 st

arte

d f/

408

m t/

42

6.82

m; s

light

to m

od s

ilici

fied

rxsw

/ alte

red

mat

rix

(to

K-F

elds

?)

at d

epth

exc

ept f

or d

epth

s 42

6.82

-441

m

whe

er c

hlor

ite (

?) +

K-F

elds

(?)

pre

dom

inat

e th

e m

atrix

; not

ed p

inki

sh-b

row

n st

aine

d Q

tz v

nlts

/str

s; r

xs

poor

ly fo

liate

d 50

° T

CA

; m

od to

abu

ndan

t elo

ngat

ed

fuch

site

mnl

s al

ong

folia

tion

1479

140

8.00

410.

002.

00>1

000

9.53

25

1479

241

0.00

412.

002.

00>1

000

4.17

63

1479

341

2.00

414.

002.

00>1

000

4.90

52

1479

441

4.00

416.

002.

00>1

000

4.70

21

1479

541

6.00

418.

002.

00>1

000

5.00

22

1479

641

8.00

420.

002.

00>1

000

1.10

31

1479

742

0.00

422.

002.

00>1

000

1.07

20.

514

798

422.

0042

4.00

2.00

629

690

21

1479

942

4.00

426.

002.

00>1

000

1.23

41

1480

042

6.00

428.

002.

00>1

000

1.33

1T

R14

801

428.

0043

0.00

2.00

>100

01.

77

0.5

TR

1480

243

0.00

432.

002.

0051

2

mm

-wid

e Q

tz s

trs

0.5

TR

1480

343

2.00

434.

002.

0031

9

mm

-wid

e Q

tz s

tr p

aral

lel t

o T

CA

0.5

TR

1480

443

4.00

436.

002.

0045

4

0.5

0.5

1480

543

6.00

438.

002.

0031

7

0.5

_14

806

438.

0044

1.00

3.00

398

inc

Py

diss

ems;

som

e cu

bic

Py

xsta

ls0.

50.

514

807

440.

0044

2.00

2.00

540

30.

514

808

442.

0044

4.00

2.00

386

405

41

1480

944

4.00

446.

002.

00>1

000

2.50

41

1481

044

4.00

446.

002.

00>1

000

2.07

1481

178

1481

2<5

344

6.00

448.

002.

0013

60.

514

813

1-4-

1 cm

Qtz

vnl

ts +

str

s

GU

YA

NA

GO

LD

FIE

LD

S D

IAM

ON

D D

RIL

L L

OG

H

OL

E N

O. R

KD

-34

PA

GE

10 O

F 1

1

To

Leng

thM

ET

ER

SD

ES

CR

IPT

ION

% Qtz

% Py

Pul

p C

hk

Au

g/to

nne

Rej

Chk

Au

g/to

nne

FR

OM

TO

%R

ecov

ered

Ass

ay A

u pp

bP

ulp

Chk

A

u pp

bR

ej C

hk A

u pp

b

Sam

ple

No.

Fro

m

1-1-

3 cm

Qtz

vnl

ts +

str

s; d

ec P

y3

TR

1481

444

8.00

450.

002.

00>1

000

1.57

2-3-

1 cm

Qtz

vnl

ts +

str

s; in

c P

y3

0.5

1481

545

0.00

452.

002.

0073

3

~ 1

cm Q

tz v

nlt +

mm

-wid

e Q

tz s

trs

10.

514

816

452.

0045

4.00

2.00

>100

02.

50

5mm

Qtz

str

s pa

rall.

TC

A+1

cm

Qtz

vnl

t (pi

nk-b

rn)

3_

1481

745

4.00

456.

002.

0053

5?

Qtz

sto

ckw

ork

s zo

ne

# 2:

f/ 4

57.4

0 m

; Qtz

bxa

/vn

(~10

cm

thic

k); i

nc P

y di

ssem

s

0.5

1481

845

6.00

458.

002.

0047

945

7

10.

514

819

458.

0046

0.00

2.00

>100

01.

27

inc

Py

diss

ems;

Qtz

bxa

mat

eria

ls6

214

820

460.

0046

2.00

2.00

>100

06.

47

5-2-

27 c

m Q

tz s

tock

wor

ks +

str

s20

314

821

462.

0046

4.00

2.00

>100

02.

80

1-1-

1 cm

Qtz

vnl

ts +

str

s3

114

822

464.

0046

6.00

2.00

>100

01.

70

10.

514

823

466.

0046

8.00

2.00

616

1-2

cm Q

tz v

nlts

+ s

trs

20.

514

824

468.

0047

0.00

2.00

>100

01.

83

1-7-

2-1

cm Q

tz v

n/vn

lts +

str

s6

114

825

470.

0047

2.00

2.00

>100

01.

53

1-1-

2-6-

1-1-

1-2-

22 c

m Q

tz v

n/vn

lts +

str

s20

314

826

472.

0047

4.00

2.00

>100

027

.53

25.9

3

27-3

5-2

cm Q

tz v

n/vn

lts32

214

827

474.

0047

6.00

2.00

>100

06.

23

32 c

m Q

tz b

xa m

ater

ials

+ v

nlts

171

1482

847

6.00

478.

002.

00>1

000

16.2

316

.57

2-2

cm Q

tz v

nlts

+ s

trs;

dec

Py

diss

ems

20.

514

829

478.

0048

0.00

2.00

401

8 cm

Qtz

vn

+ st

rs/v

nlts

40.

514

830

480.

0048

2.00

2.00

>100

01.

57

1-1-

2 cm

Qtz

vnl

ts +

str

s; in

c P

y2

114

831

482.

0048

4.00

2.00

>100

01.

17

7?

Vis

ible

Go

ld (

VG

) @

485

.77

m: a

long

fr

actu

re/fo

liatio

n 30

° T

CA

w/in

Qtz

vnl

ts /

stoc

kwor

ks

(hos

ted

by K

-Fel

ds-r

ich

/ fuc

hsite

-ric

h m

atrix

) do

tted

by

fine-

to m

ediu

m-g

rain

ed, s

ubhe

dral

to e

uhed

ral P

y di

ssem

inat

ions

; som

e is

olat

ed V

G a

s in

ters

titia

l oc

curr

ence

s w

/in fr

agm

ente

d cl

uste

rs o

f Py

crys

tals

114

832

484.

0048

6.00

2.00

>100

053

2.50

384.

33

31

1483

348

6.00

487.

651.

65>1

000

758

.17

11.3

3

31

1483

448

6.00

487.

651.

65>1

000

2.30

1483

5>1

000

ST

D:

OR

EA

S 6

1 P

b

117

3.33

1483

6B

LAN

K S

AM

PLE

<5

~ in

c se

ricite

am

ount

s1

0.5

1483

748

7.65

490.

002.

35

12 c

m Q

tz v

n; in

c in

tens

ity o

f fol

iatio

n6

0.5

1483

849

0.00

492.

002.

0038

269

41.

73

10.

514

839

492.

0049

4.00

2.00

384

0.5

0.5

1484

049

4.00

496.

152.

1535

7

496.

1550

9.30

1T

RS

ER

ICIT

E S

CH

IST

: 50°

TC

A a

t con

tact

w/ D

aciti

c T

uff a

bove

; inc

mod

to in

t fol

iatio

n 60

°-70

° T

CA

; pal

e br

own

to g

reen

to li

ght g

reen

rxs

; ser

icite

-ric

h; m

ainl

y Q

tz v

nlts

alo

ng fo

liatio

n; in

c P

y di

ssem

s2

0.5

1484

149

6.15

498.

001.

8533

0

30.

514

919

498.

0050

0.00

2.00

>100

01.

40

30.

514

920

500.

0050

2.00

2.00

781

1492

150

2.00

504.

002.

00

150

4.00

506.

00

110

2.00

162

_14

922

GU

YA

NA

GO

LD

FIE

LD

S D

IAM

ON

D D

RIL

L L

OG

H

OL

E N

O. R

KD

-34

PA

GE

11

OF

11

To

Leng

thM

ET

ER

SD

ES

CR

IPT

ION

% Qtz

% Py

Pul

p C

hk

Au

g/to

nne

Rej

Chk

Au

g/to

nne

FR

OM

TO

%R

ecov

ered

Ass

ay A

u pp

bP

ulp

Chk

A

u pp

bR

ej C

hk A

u pp

b

Sam

ple

No.

Fro

m

0.5

_14

923

506.

0050

8.00

2.00

116

0.5

_14

924

508.

0050

9.30

1.30

95

509.

3054

9.00

3_

1492

550

9.30

511.

001.

7094 10

0_

1492

651

1.00

513.

00

0.5

TR

N/S

513.

00

2.00

531.

0018

.00

0.5

ME

TA

VO

LC

AN

ICS

: mod

erat

ely

folia

ted

50°

TC

A b

ut

65°

TC

A o

n co

ntac

t with

Ser

icite

Sch

ist u

nits

abo

ve;

pred

omin

antly

car

b vn

lts/s

trs

w/ m

inor

±Q

tz; c

arb

also

a

mat

rix a

ltera

tion;

min

or P

y di

ssem

s @

534

-540

m; l

t. gr

een

to g

reen

(ch

lorit

ized

) rx

s; n

oted

mic

rofo

lds

on

carb

vnl

ts/s

trs

mos

tly a

long

folia

tion

2

125

TR

1492

753

1.00

534.

00

0.5

TR

1492

853

4.00

3.00

536.

002.

0015

11

10.

514

929

536.

0053

8.00

2.00

>100

04.

83

30.

514

930

538.

0054

0.00

2.00

669

1T

R14

931

540.

0054

3.00

3.00

25

TR

TR

N/S

543.

0054

9.00

6.00

E.O

.H. @

549

m

ni 43-101 report on the aurora project guyana 2005 ...cargill consulting geologists limited...

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