January 2012 Investor Presentation

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January 2012 Investor Presentation Powered By Docstoc
					January 2012 Investor Presentation




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                         www.guygold.com
Forward Looking Statement
This presentation of Guyana Goldfields Inc. (the "Company") contains statements that constitute "forward‐looking statements." Such forward‐looking statements
involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements, or developments in our industry, to
differ materially from the anticipated results, performance or achievements expressed or implied by such forward‐looking statements. Forward looking statements are
statements that are not historical facts and are generally, but not always, identified by the words "expects," "aims," "plans," "anticipates," "believes," "intends,"
"estimates " "projects " "potential" and similar expressions or that events or conditions "will " "would " "may " "could" or "should" occur Information inferred from
 estimates, projects, potential                   expressions,                              will, would, may, could               should occur.
the interpretation of drilling results and information concerning mineral resource estimates may also be deemed to be forward looking statements, as such information
constitutes a prediction of what might be found to be present when and if a project is actually developed. Forward‐looking statements this document includes are
statements regarding: the Company's expectations regarding drilling and exploration activities on properties in which the Company has an interest; and the Company's
statements regarding estimates of resources on properties in which the Company has an interest. There can be no assurance that such statements will prove to be
accurate. Actual results and future events could differ materially from those anticipated in such statements, and readers are cautioned not to place undue reliance on
these forward‐looking statements that speak only as of their respective dates. Important factors that could cause actual results to differ materially from the Company's
expectations include among others, risks related to fluctuations in mineral prices; uncertainties related to raising sufficient financing to fund planned work in a timely
manner and on acceptable terms; changes in planned work resulting from weather, logistical, technical or other factors; the possibility that results of work will not fulfill
expectations and realize the perceived potential of the Company's properties; uncertainties involved in the estimation of resources; the possibility that required
permits may not be obtained on a timely manner or at all; the possibility that capital and operating costs may be higher than currently estimated and may preclude
commercial development or render operations uneconomic; the possibility that the estimated recovery rates may not be achieved; risk of accidents, equipment
breakdowns and labour disputes or other unanticipated difficulties or interruptions; the possibility of cost overrun or unanticipated expenses in the work program; the
                                                                                    operations;                                            properties;
risk of environmental contamination or damage resulting from the Company's operations risks associated with title to mineral properties and other risks and
uncertainties discussed appear elsewhere in the Company's documents filed from time to time with the Toronto Stock Exchange and Canadian securities regulators.
These statements are based on a number of assumptions, including assumptions regarding general market conditions, the availability of financing for proposed
transactions and programs on reasonable terms, and the ability of outside service providers to deliver services in a satisfactory and timely manner. Forward‐looking
statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as expressly required by
applicable securities laws, the Corporation undertakes no obligation to update these forward‐looking statements in the event that management's beliefs, estimates or
opinions, or other factors, should change.
  p      ,                  ,            g
This presentation uses the terms "Inferred Resource", "Indicated Resource" and "Mineral Resource". The Company advises readers that although these terms are
recognized and required by Canadian securities regulations (under National Instrument 43‐101 "Standards of Disclosure for Mineral Projects"), the US Securities and
Exchange Commission does not recognize these terms. Readers are cautioned not to assume that any part or all of the mineral deposits in these categories will ever be
converted into reserves. In addition, "Inferred Resources" have a great amount of uncertainty as to their existence, and economic and legal feasibility. It cannot be
assumed that any part of an Indicated or Inferred Mineral Resource will ever be upgraded to a higher category. Under Canadian rules, estimates of Inferred Mineral
                                                    pre feasibility
Resources may not form the basis of feasibility or pre‐feasibility studies, or economic studies except for a Preliminary Assessment as defined and permitted under
National Instrument 43‐101. Readers are cautioned not to assume that part or all of an inferred resource exists, or is economically or legally mineable. The Mineral
Resources stated in this news release are not mineral reserves and, in the absence of a current feasibility study, do not demonstrate economic viability. The
determination of mineral reserves can be affected by various factors including environmental, permitting, legal, title, taxation, socio‐political, and marketing issues.
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                                                                            www.guygold.com
Emerging Gold Producer

                                       5.71M oz 
             Mineral                  M&I growing 
                                      Resource at                      Completing 
           Agreement                                                    Feasibility 
            Signed &                    Aurora                           Study in 
          Mining License 
          Mining License                                                 Q1 2012
                                                                         Q1 2012
            Received



       2012 drill                                                          Support from 
                                                                           the IFC of the 
      programs in                                                           World Bank 
         place                                                                Group


                       Secondary                          Highly 
                                                        prospective 
                      Sulphur Rose                      exploration 
                                                        exploration
                        Resource                         portfolio

                                                                                             3
                                      www.guygold.com
Corporate Snapshot
January 6, 2012
 Symbol:                                   TSX: GUY          Top 15 Shareholders                  Shares    %
 Shares Issued                             83,295,743        Acuity (7 funds)                      8.1M    9.7%
 Options                                     6,893,658
                                                             Van Eck                               7.5M    9.0%
 Warrants                                            0
                                                             Franklin Resources (Templeton)        6.8M    8.2%
 Diluted:                                  90,189,401
 52 week: Hi/Lo                       C$10.58 / C$6.32       IFC (World Bank Group)                5.1M    6.3%

 3-month average volume:                                     Patrick Sheridan Jr. (Founder/CEO)    4.2M    5.1%
                                                574,052
 Market Cap (at C$ 7.72)                  C$643million       Manulife Financial (Canada)           2.0M    2.4%
 Cash Position                            C$36 million       Blackrock (UK)                        2.0M    2.4%
 Monthly burn rate
       y                                  C$2-3 million      First Eagle Investment Mgmt           1.9M
                                                                                                   1 9M    2 2%
                                                                                                           2.2%
 Debt                                               $0
                                                             Sprott Asset Mgmt (2 funds)           1.7M    2.0%
 Symbol:                              Frankfurt: GG3         CIBC Global Asset Mgmt                1.4M    1.7%
 WKN                                          A0D975         Fidelity Investments                  1.3M    1.5%
 ISIN                                  CA4035301080
                                                             Oppenheimer Funds                     1.2M    1.4%
               Insider, 
                 7%                                          AGF Asset Mgmt                        1.1M    1.3%
                           Retail                            Degroof Banque Privée S.A.            1.0M    1.2%
                           36%
                                                             TD Asset Management                   0.8M    1.0%
        Instit., 
         57%
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                                                 www.guygold.com
Analyst Coverage


  Firm                      Analyst                 Target ($C)        Rating

  Jennings Capital      Stuart McDougall              18.00        Speculative Buy

  Paradigm Capital         Don Blyth                  15.00        Speculative Buy

                 Co.
  Dahlman Rose & Co        Adam Graf                  14.33
                                                      14 33             Buy

  Cormark Securities     Richard Gray                 14.50             Buy

  Salman Partners         David West                  13.25             Buy

  Scotia Capital         Trevor Turnbull
                         Tre or T rnb ll              13 00
                                                      13.00       1-Sector O t f
                                                                  1 S t Outperform

  Raymond James         Brad Humphrey                 13.00         Outperform 2

  RBC Capital Markets   Michael Curran                12.00          Outperform

  UBS Securities          Dan Rollins                 11.25
                                                      11 25             Buy

  BMO                     Andrew Kaip                 10.00          Outperform

  TD Newcrest             Daniel Earle                10.00             Hold

  Credit Suisse          Dalton Baretto                 9.50         Outperform



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                                  www.guygold.com
Management Team
CEO: Mr. Patrick Sheridan Jr., M.Sc.
   CEO of Guyana Goldfields from its inception in 1994 – 5.1% ownership stake in GUY
   Active in mineral exploration in Guyana for 14 years – discovered the Aurora gold deposit
   Mr.                   MSc.
    Mr Sheridan holds a MSc in Economics from the London School of Economics

President & COO: Mr. Claude F. Lemasson, P.Eng., MBA
    21 years of mine design, construction and management experience
    Former Goldcorp General Manager of Projects for Canada & US - Oversaw construction/operation of Goldcorp’s Red Lake Mine
    Graduate of the Kellogg-Schulich Executive MBA program

Executive VP, Finance and CFO: Mr. Paul Murphy, B.Comm, CA
   37+ years of international financial experience , of which 30 years almost exclusively in the resource industries
   Former Partner with PwC and National Mining Leader in Canada/Leader for the Western Hemisphere Mining Centre of Excellence
   Responsible for assessing all financing options

VP, Exploration: Mr. Dan Noone, BApSci (Geol), MBA
    20 years of international mineral exploration and development experience
    Previous VP of Peru Operations for Aquiline Resources Inc. (Acquired by Pan American Silver Corp.)
    Held various senior geologist roles managing projects in Papua New Guinea, Indonesia, Peru, Ecuador and Argentina.

Country Manager, Guyana: Ms.
Co ntr Manager G ana Ms Violet Smith
   20+ years experience in operations management
   Involved with the Company since its inception
   Oversees all operations and logistics in Guyana as well as the public relations in country

VP, Corporate Communications: Ms. Jacqueline Wagenaar: B.Mos
    Previously lead investor relations programs for several junior mining companies
    Responsible for all marketing, communications and investor relations initiatives
    Graduate of the University of Western Ontario in Business
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                                                                 www.guygold.com
Corporate Social Responsibility & Sustainability

                       •   Guyana Goldfields has been in Guyana since 1996
                             d follows recognized i t
                           and f ll                       ti   l t d d
                                               i d international standards
                       •   IFC (International Finance Corporation) of the World
                           Bank Group
                             Involved with project since 2006
                                              p j
                             ~6.3% ownership stake in GUY
                             Provided technical assistance with the
                               Environmental & Social Impact Assessment
                               ( ESIA )
                               (“ESIA”) by ERM - completed
                             Sharing 50% of cost of the Hydropower
                               Feasibility Study by MWH - completed
                             Potential future financial assistance in both
                               equity and debt
                             History of successful permitting for mines with
                               IFC involvement - de facto political risk
                               insurance


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                             www.guygold.com
Corporate Social Responsibility & Sustainability


                        GUYANA GOLDFIELDS has a
                  CSR & Sustainability Strategy in 3 main areas


  COMMUNITY & NATIONAL          HUMAN RESOURCES                HEALTH, SAFETY &
      INITIATIVES                 DEVELOPMENT                   ENVIRONMENT




            Each Area Contributes Significantly  to Sustainable Development
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                                     www.guygold.com
The Region




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             www.guygold.com
GUYANA – The Country

                   Only English speaking
                       country in South America
                       with British common law
                       and secure tenure - part of
                       the Commonwealth
                   Democratically elected
                       government under
                       parliamentary system
                                                      Picture (left to right):
                                                      Violet Smith, Guyana Goldfields Country Manager, Sam Hinds,  
                   Guyana GDP: US$2.2B               Honourable Prime Minister of Guyana, and Claude Lemasson, 
                                                      President & COO of Guyana Goldfields
                       (2010 est);
                       GYD$ 445.394B
                                                        “The Government welcomes and fully supports all
                   Pro-mining jurisdiction &           investment, foreign and local, in the mining
                       government                       sector and are pleased that we have come to a
                                                        fiscal          t in d for the long‐awaited
                                                        fi l agreement i order f th l              it d
                   Long history of significant         development of the Aurora Project to begin. We
                                                        look forward to working alongside GGI as they
                       gold production:                 move towards production.”
                                                         ‐ Honourable Sam Hinds, Prime Minister of
                          Gold was the largest         Guyana (Oct 5, 2011)

                                 t f th       t in
                            export of the country i
                            2011 with 360,000 oz
                                                                                                             10
                            www.guygold.com
Signing of Mineral Agreement and 
Issuance of Mining License (Nov/18/11)
                 g         (   / / )
Significant terms of the Mineral Agreement (MA) and Mining License (ML) include:

 Mining royalty of 5% on gold sales at a price of gold of US $1,000/oz or less

 Mining royalty of 8% on gold sales at a price of gold over US $1,000/oz

 Corporate income tax rate of 30% and no withholding tax on interest payments to lenders;

 Duty and value added tax exemptions on all imports of equipment and materials for all continuing operations at the Aurora
  Gold Project, including the construction and operation of a planned port facility, road and power improvements and the
  construction and operation of the mine.

 ML is the permit to build and operate and is valid starting immediately for an initial 20-year term with provisions for extension
      pp
  on application




               Signing of the Mining License – Nov 18, 2011              Prime Minister, Sam Hinds with CEO, Patrick Sheridan Jr.
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                                                              www.guygold.com
Property Locations




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                     www.guygold.com
The Aurora Gold Project Site
 Objective
   To extensively drill to increase the resource leading to the development and operation of the Aurora Gold Mine
   as the centre of an emerging Northwest Guyana mining district in a sustainable and profitable manner that will
   be environmentally, socially and economically responsible and will recognize the rights and responsibilities of
   all stakeholders.




                                                                                         From 2004 to Dec 31, 2011:

                                                                                             Drilled 1,323 holes

                                                                                             362,959 meters

                                                                                             Bulk of drilling from
                                                                                              surface to 450m, except
                                                                                              at Rory’s Knoll where
                                                                                              it’s drilled to 2,112 m
      Mineralized Zones                                                                       (1,566 m used in FS
                                                                                              model)
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                                                  www.guygold.com
Resource Estimate

                                                   September 2011

                      Gold Price                   Quantity                  Grade     Gold
                    (US$) $1,200/oz                  (Mt)                     (g/t)   (M oz)
                 Measured & Indicated Resources

                 O/P                                 20.22                   3.34     2.18

                 U/G                                 26.82                   4.09     3.52

                 TOTAL                               47.04                   3.83     5.71

                 Inferred Resources

                 O/P                                  3.48                   3.41     0.39

                 U/G                                  6.49                   3.74     0.78

                 TOTAL                                9.97
                                                      9 97                   3 63
                                                                             3.63     1.17
                                                                                      1 17

                 Cutoff grade: 0.40 g/t Au for O/P and 1.80 g/t Au for U/G


*** Revised Resource Estimate due by mid ‐ 2012 to include all infill drilling post May 2011 Feasibility 
Study cut‐off. This will not be included in the Feasibility Study, however it will show the additional 
inferred ounces discovered at depth beneath all zones.
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                                                          www.guygold.com
FS Measured & Indicated Model
                                                   5.71 million ounces
                                                     in the Measured &
                                                     Indicated categories,
                                                                   g     ,
                                                     including about 2.2
                                                     million ounces for
                                                     the Open Pit and 3.5
                                                     million ounces for
                                                     the Underground

                                                   Includes all drilling
                                                     up to the end of May
                                                     2011 and assay
                                                     results received by
                                                     mid-August 2011

              Wide‐open 
            laterally and at 
            depth below all 
                 zones                            All results press released Sept 9, 2011




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                                www.guygold.com
Feasibility Study Guidance (Due Q1 2012)
   Open pit
   High grade open pit (non‐diluted): 3.34 g/t (0.40 g/t cut off) 
   Overburden:  0‐5m
   Strip ratio: 9.5 : 1 (6 pits)
   Top layer of ore is saprolite oxides (6% of resource ‐ easy to mine)
   Production rate: 5,000 – 9,500 tpd
   Underground
   U/G grade (non‐diluted): 4.09 g/t (1.80 g/t cut off)                                                              b
                                                                                                  Various cases are being 
   Ore depth: 1,300m (Rory’s Knoll) (Shaft depth to 1,200m)
   Rock below 30m very competent – suit bulk mining methods                                     reviewed, to optimize NPV, 
   Production rate: 3,600 – 4,400 tpd                                                            IRR, Payback period, and 
   Processing
                                                                                                       financeability
                                                                                                       financeability.
   No by‐products – only gold
   Ore is non‐refractory sulphides (94%) with saprolite oxides (6%)
   Recovery: 96% average (Up to 50% of gold recovered by gravity)
   Average mill throughput: 8,000 ‐ 9,500 tpd
   Average annual gold production:  250 000 ‐ 300,000 ounces
   Average annual gold production: ~ 250,000 ‐ 300 000 ounces
   Economics
   Surface Infra. & Open Pit Capex: ~ US$ 375 ‐ 400 M
   Underground Capex: ~ US$ 375 – 400 M (fully or partially funded from CF)
   Sustaining Capex:  ~ US$ 130 – 160 M
   Life of Mine operating Cash Costs: US$ ~400 500 per ounce
   Life of Mine operating Cash Costs: US$ ~400 ‐ 500 per ounce

Note:  The Feasibility Study Guidance is based on the latest information and data available, specifically SRK’s Resource Estimate (September 2011) and 
Feasibility Study work in progress, as well as management’s knowledge and opinions on current estimates and future outlooks.
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                                                                     www.guygold.com
Aurora Project Timeline

                                            2011                2012           2013   2014
              Activity
                                      Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
Infill and Exploration Drilling
Hydropower Feasibility Study
                                                1
Resource Estimation
                                                     2
Permitting (Mining License)
Infrastructure & Site Preparation
Feasibility Study                                          3

Development & Construction (O/P)                               4 5
Production (O/P)                                                                      6



      Key Milestones:
      1 Revised Resource Estimate – Q3 2011 - Completed
      1.
      2. Obtain Mining License (Permit) – Q4 2011 - Completed
      3. Feasibility Study Complete – Q1 2012
      4. Development decision and project financing recommendation – Q1 2012
      5. Begin of construction – Q2 2012 for 24 months
      6. Commercial production – Q2 2014


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                                                    www.guygold.com
Logistics and Infrastructure




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                           www.guygold.com
Infrastructure – Project office




                                             258 Thomas St., Cummingsburg, Georgetown

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                           www.guygold.com
Infrastructure – Buckhall Site



                                                    170kms to Aurora


                                        M‐1 road 




                                                                       Atlantic Ocean 
                                                                        ~20km away




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                           www.guygold.com
Infrastructure – Buckhall Site




                Buckhall Entrance                         Administration Buildings




     Fuel Tanks with Safe Containment                     Fuel Unloading Pipe Trestle   21
                                        www.guygold.com
Infrastructure – Tapir Crossing (at Cuyuni River)




                                    Road to 
                                    Aurora
                                               River Crossing




                                                                           Tapir Camp




                                                                Road to 
                                                                Buckhall

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                           www.guygold.com
Infrastructure – Tapir Crossing (at Cuyuni River)




                                                  Maintenance Facility (under construction) and Equipment




           Barge at Crossing




                                                               Barge carrying Equipment
           Site Office & Camp
                                                                                                     23
                                www.guygold.com
Infrastructure – Main Access Road




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                         www.guygold.com
Infrastructure – Main Access Road




          Existing Access Road                     Road Extension in Progress  




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                                 www.guygold.com
Infrastructure – Aurora Site




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                           www.guygold.com
Equipment at Work




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                    www.guygold.com
 Conceptual Site Plan – Still in Progress

                                                  River Dike

              Water 
              Water
            Management                                                                               Cuyuni River
               Pond
                                                               Shaft

                                              Open Pit
                                               Area
                                                                                                          Airstrip
                                                                    Process
Proposed Dam                                                         Area
  site (4kms)                        Mine Waste                                      Camp
                                      Stockpile


                                                                              Gate

                          Tailings
                           Area

                                                                                                 1
                                                                                                km
                                                                                      Access 
                                                                                       Road

Yearly Rainfall = 2.5m


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                                                          www.guygold.com
River Dike – Conceptual Design




                                           Mitigate potential extreme flood 
                                           events above the average level




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                         www.guygold.com
8 Exploration Targets
                                           8 distinct target
                                            areas at Aurora and
                                            Aranka

                                           From extensions of
                                            known
                                            mineralization to
                                            grass root
                                            discoveries

                                           $~5M exploration
                                                   p
                                            budget for 2012

                                           11 geologists

                                           Up to 8 rigs

                                           Continue to build
                                            resources through
 Aranka
 A k                                        discovery
 Aurora

                                                            30
                        www.guygold.com
Aurora 2012 Drill Programs


                              Aurora 2011 Drilling Summary
                              Aurora 2011 Drilling Summary
           Budget                                                         $3M
           Number of Rigs on exploration                                Up to 6 
           Within Golden Square Mile
           Rory’s Knoll Deep Drilling                                     2 rigs
           Brownfields / Outside Golden Square Mile
           Geophysical targets and condemnation drilling                  2 rigs




                                 Drilling Summary to date
                 Drilling periods                 Meterage Total Metres
                 2004 – June 2, 2009 (PA)
                 2004 – June 2 2009 (PA)           140,442
                                                   140 442   140,442
                                                             140 442

                 June 3, 2009 – Nov 21, 2010 
                                                    79,446    209,000
                 (Resource Estimate – Feb 2011)
                 Nov 22, 2010  May 31, 2011
                 Nov 22, 2010 – May 31, 2011
                                                    82,556    291,556
                 (resource Estimate Sept 2011)

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                                        www.guygold.com
Aurora Revised Resource Estimate Due mid ‐ 2012


                                               Revised Resource Estimate due
                                               mid - 2012 to include all infill drilling
                                               post May 2011 FS cut-off.

                                               Not to be included in FS however
                                                                       FS,
                                               will show the additional inferred
                                               ounces discovered at depth
                                               beneath all zones.

                                               New exploration drilling at Rory’s
                                               Knoll extended the mineralization
                                                y               p       ,
                                               by ~530m to a depth of 2,112m
                                               below surface and remains open
                                               (Nov 2011).

                                               All zones continue to remain open

                                                                                      32
                             www.guygold.com
Aurora Local Exploration
                                             1.Rory’s Knoll look-alike
                                               targets

                                              3 targets with similar
                                               potassium anomalies found
                                               at Rory’s Knoll

                                             2.Swamp Vein and Gold
                                               Creek

                                              Soil augering and trenching

                                             3.Sand Creek

                                              3 strong soil anomalies

                                              Trenching commenced

                                             4.Marupa

                                              2 fl t lying hi h grade quartz
                                                 flat l i high      d      t
                                               veins
                                                                         33
                           www.guygold.com
Aranka – 2012 Drill programs


                                                  g       y
                               Aranka 2012 Drilling Summary
           Budget                                                          ~$2M
           Number of Rigs on exploration                                  Up to 2 
            Program
           Sulphur Rose                                                    1 drill
           Intensive exploration within a 5‐km radius around Sulphur Rose

                                   Drilling Summary to date
              Drilling periods                   Holes        Total Metres
              2007 –Dec 31, 2011
              2007 Dec 31 2011                 196 holes
                                               196 holes        54,603m
                                                                54 603m
              Bulk of drilling from surface to ~630m (pit depth to 215m)




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                                       www.guygold.com
Aranka Exploration Targets
                  Sulphur Rose

                   277,580 indicated resource;
                    289,250 inferred resource
                    289 2 0 i f    d

                  Kopang

                   Shear zone on margin of granite

                  North Ridge

                   Shear zone on margin of granite               North Ridge pit

                  Pakira Hills

                   Highly anomalous stream sediments; Lateritized ridge (ie. Geochem
                    stripped)

                   Shallow drilling with man portable rig planned to determine geological
                    setting and potential source of gold

                  Wynamu

                   O r most prospective target; 3km b 2 5km zone of alteration
                    Our      prospecti e target      by 2.5km one

                   Associated with potassium anomalies around margin of high potassium
                    intrusive.                                                           35
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Aranka – Sulphur Rose
                                                                                                                            23 km away from Aurora in a straight
                      Sulphur Rose Block Model                                                                               line
                                                                                                                            Northwest trending zone measuring
                                                                                                                             ~500m strike length X 200m width X
                                                                                                                             ~630 m depth.
                                                                                                                            O/P depth to 255m; Block model depth
                                                                                                                             extends to 640m (Micon, Dec 2011)
                                                                                                                            Remains open vertically and at depth
                                                                                                                                                            depth.
                                                                                                                            Metallurgical testing: 91.9% recovery
                                                                                                                             (similar to Aurora). No by-products.
                                                                                                                            Drilled 44,813m from 154 holes
                                                                                                                             (Jan 1, 2010 – Dec 31, 2011)
                                                                                                                                        Tonnes    Au Grade Contained Au
                                                                                                                                                    (g/t)   (Inf ounces)
                                                                                                                           Indicated
                                                                                                                             /
                                                                                                                           O/P        ,   ,
                                                                                                                                     8,250,000      1.04         ,
                                                                                                                                                              275,550
                                                                                                                           U/G          30,000      2.10        2,030
Note: Table may not add precisely due to rounding errors.                                                                  Total     8,280,000      1.04      277,580
O/P : gold price: US$1,200/oz, mining costs in saprolite: US$1.30/t, in fresh rock: US$2.00/t, milling cost: US$10.00/t,
G&A: US$4.50/t, mill recovery: 91.9% and pit slope angles in saprolite: 28°, in fresh rock: 45°. Open pit resources
were reported within the Whittle pit shell using a cut-off grade which met the marginal cost of milling at the pit rim,
                                                                                                                           Inferred
making allowances for metallurgical recovery.
                                                                                                                             /
                                                                                                                           O/P         ,   ,
                                                                                                                                      5,120,000     1.14         ,
                                                                                                                                                              187,710
Underground resources were reported from the remaining resource below the pit after a 30-metre thick notional crown        U/G        1,210,000     2.61      101,540
pillar was left behind. The cut-off grade for reporting underground resources used the factors noted above and
preliminary underground mining costs estimated for the Aurora project feasibility study of US$50.26/t.                     Total      6,330,000     1.42      289,250
                                                                                                                                                                   36
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Aranka – Sulphur Rose



                                          Upcoming
                                          Exploration
                                           Targets along strike and under the pit
                                            (higher grade underground)


                                           Continue drilling to test the lateral extent of
                                            the mineralization


                                           Continue soil augering and road mapping
                                            and pursue other key targets




                                                                                    37
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Sulphur Rose 5‐km Radius Targets




                                           38
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Plans for 2012


                  Critical Advancement of the Aurora Gold Project
                        Project Decision – Q1 2012


                  Exploration at both Aurora and Aranka Properties
                                  E ploration
                         Strategic Exploration Drilling – Ongoing
                        Updated Aurora Resource Estimate Mid - 2012




                                                                       39
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Market Comparables




                                 40
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Stock Price Performance – Last 12 Months
                            Life‐cycle of a Mining Share
                                                                                                                            10/05/11
                                                                                                                            Signed Memorandum of Understanding for the 
                                                                                                                            Mineral Agreement with the Government of 
                                                                                                                            Guyana

                      Exploration    Discovery    Development    Construction / Production


   C$15.00                                                                                                                                                                                             2,000
                                                                                                                                  09/09/11
                      Speculation       Investment Analysis               Revaluation
                                                                                                                                  Announced an increased 
                                                                                                                                  resource estimate at Aurora             12/14/11                     1,800
                                        02/28/11 Announced 
                                                                                                                                  and extension at depth for              Issued updated Sulfur 
                                        80% increase in M&I                          04/29/11
                                                                                                                                  Rory's Knoll drill results
                                                                                                                                  Rory's Knoll drill results              Rose resource estimate
                                                                                                                                                                          Rose resource estimate 
                                        and 20% increase in                          Confirmed and extended to depth 
   C$13.00                                                                                                                                                                of 567k oz                   1,600
                                        Inferred resource at                         gold mineralization at Sulphur Rose 
                                        Aurora                                       through infill drilling
                                                                                                                                                                                                       1,400


   C$11.00                                                                                                                                                                                             1,200


                                                                                                                                                                                                       1,000


     C$9.00                                                                                                                                                                                            800


                                                                04/26/11                                                                                                                               600
                                                                Divests non‐core 
                                                                Divests non core
                12/31/10                                        assets for 
     C$7.00                                                     $6.13M                                                                                                                                 400
                Announced initial 
                resource estimate                                                             05/02/11                                        11/18/11
                of 460k oz at                                                                 Confirmed and extended to depth gold            Received Mining License for Aurora                       200
                Sulphur Rose                                                                  mineralization at Sulphur Rose                  Project from Guyanese Government

      $
     C$5.00                                                                                                                                                                                            -
           Dec                 Jan                 Feb             Mar                       Apr        May          Jun          Jul         Aug           Sep         Oct          Nov            Dec


Source: FactSet Research Systems, company data. Data as of 12/31/11.
Note: Red line represents the Amex Gold Bugs, indexed to Guyana Goldfields' stock price.                                                                                                                   41
                                                                                                           www.guygold.com
Stock Price Performance – Last 5 Years

                                                                        Commercial Production Begins Q2 2014

                                                             Development Decision Q1 2012
                                                             Development Decision Q1 2012


                                                       Guyana Goldfields 
                                                            Today




                                                                                                                                  uction
                                                                                                                              Produ
                                                                                                   2013               2014                 2015



                               Development Investment Analysis                                            Production Revaluation 
                                         2‐3 Years                                                              2‐3 Years
Source: Bloomberg, 01/13/2007 – 01/13/2012                                                                                                  42
                                                                  www.guygold.com
Comparable Company Analysis

          Enterprise Value / Resources
          US$/oz AuEq
                                                                 Explorers/Developers                                                                    Producers

           $800
           $900



           $700



           $600



           $500



           $400



           $300



           $200



           $100



                -
                      GUY                  RR        DGC         R       OSK         XG       VEN        AND                  CEE       ARZ       SGR        AGI        KGI       RBI      GORO

Source: FactSet Research Systems, company data. Data as of 12/31/11.
Note: Enterprise value is market capitalization (basic) plus net debt and minority interests. Gold equivalency calculated using $1,000/oz Au and $18/oz Ag.  Resources include gold and silver 
only. Andean, Ventana and Red Back reflect take‐out values.                                                                                                                                       43
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Comparable Company Analysis

         P/NAV

                                                              Explorers/Developers                                                             Producers

           2.0x




           1.5x




           1.0x




           0.5x




               -
                    GUY                  R         RR       DGC      OSK        VEN       XG       AND                 SGR        CEE    AGI      KGI      GORO   RBI   ARZ


Source: FactSet Research Systems, equity research,  company data. Data as of 12/31/11.
Note: NAVPS based on median analyst estimates. P/NAV for Andean, Red Back and Ventana represents take‐out values at the time of offer.                                        44
                                                                                       www.guygold.com
Comparable Company Analysis

         P/NAV
                                                                                                           Mid‐Tier Producers



           1.5x




           1.2x




           0.9x




           0.6x




           0.3x




               -
                           GUY                                              CGA                  CEE                  SMF       AVR   AGI

Source: FactSet Research Systems, equity research,  company data. Data as of 12/31/11.
Note: NAV based on median analyst estimates.
                                                                                                                                            45
                                                                                         www.guygold.com
Comparable Company Analysis

                      5.00




                      4.00
                                                                      Guyana Goldfields


                                                  Torex
                      3.00
     Au Grate (g/t)




                                                   Crocodile
                      2.00
     A




                                                   Romarco
                                                                  G-Resources
                                               Keegan                                                                       Gabriel
                                 Orezone                       Rainy River           Persues
                      1.00                                           Sabina
                                                 Volta                                                    Osisko                                  Detour
                                                                                               Greystar
                                               S d i
                                               Sandspring                                      Andina
                                                                                               A di                         Int'l Tower Hill


                         -
                             -             3,000                 6,000            9,000               12,000       15,000                18,000        21,000

                                                                              Total   Resources (k oz)
                                                                              T l M&I R              )


Source: Scotia Capital. Data as of 09/15/11.                                                                                                                46
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Summary Checklist

 Company                                   Established with cash

 Management & Development Teams            In place with experience and depth

 Region                                    Guiana Shield – known gold region

 Country (government and community)
 C   t (           t d         it )        Pro‐mining, excellent relations
                                           P    i i        ll t l ti

 Sustainability                            International standards with IFC

 Exploration Activities
 Exploration Activities                    Active with key targets
                                           Active with key targets

 Aurora Project                            Combination O/P and U/G world class gold mine
        Current Resources & Grades               Over 6.9M Oz with strong grades

        Resource Upside
         Resource Upside                          Significant with more drilling
                                                   Significant with more drilling
        Key Infrastructure                       Excellent accessible location

        Key Studies & Permitting                 Awarded and in progress

        Current Internal Assessment              Highly profitable mine


 Plan and Budget for 2012                  Advancing all key activities
                                                                                           47
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The Future
The Future




                           The Aurora Project
                  is progressing to become a large,
                  highly profitable world-class gold
TSX: GUY            mine developed and coming
Frankfurt: GG3
www.guygold.com      on-line in the next 2 years!

                                                       48
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Contact Information
Contact Information

  Head Office:
  Head Office:

  Guyana Goldfields Inc.                                 Telephone: (416) 628 5936
  141 Adelaide St. West, Suite 1608                      Fax: (416) 628 5935 
  Toronto ON M5H 3L5
  Toronto, ON M5H 3L5                                    Email: info@guygold com
                                                         Email: info@guygold.com




  Investor Queries:

  Vice‐President , Corporate Communications
  Jacqueline Wagenaar
  Jacqueline Wagenaar
  Telephone: (416) 628 5936 Ext. 2295
  Email: jwagenaar@guygold.com




                                                                                     49
                                       www.guygold.com
Appendix




      Appendix




                                   50
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GUY Team
GUY Team
                                       Board of Directors
                               Alan Ferry            Alexander Po
                                                Jr,. Robert A Bondy
                               Patrick Sheridan Jr          A.
                               Claude F. Lemasson Richard Williams
                               Dan Noone

                                           Management
  C O
  CEO:                          at c Sheridan Jr,.
                               Patrick S e da J ,    Country Manager, Guya a
                                                     Cou t y a age , Guyana:          o et Smith
                                                                                    Violet S t
  President & COO:             Claude F. Lemasson    VP Corporate Communications: Jacqueline Wagenaar
  Exec. VP, Finance and CFO:   Paul Murphy           CSR & Human Relations Manager: Ayaana Caldeira
  VP, Exploration:             Dan Noone             Environmental Manager:         Alex Riley

                                           Project Team
  Project Administrator:
  P j t Ad i i t t             J     Cl d Bonin
                               Jean-Claude B i       Earthworks Superintendent:    Prince William
  Senior Mine Engineer:        Milko Rivera          Maintenance Superintendent:   Colin Chester
  Study Coordinator:           Christine Robinson    Senior Consultant:            Dr. Norm T. Ng-A-Qui
  Senior Consultant:           Rod Pye               Survey Manager:               Richard Mulliken
  Human Resources Manager      Peter Benny
                                        Exploration T
                                        E l    ti Team
                               Senior Geologist:     Nathaniel Silvio
                               Senior Geologist:     Augusto Flores
                               Senior Geologist:     Jose Roy Sereneo
                               Senior Geologist:     Joey Pena
                                      Geologist
                               Senior Geologist:             Baybayan
                                                     Norman Ba ba an


                                                                                                          51
                                               www.guygold.com
Board of Directors
Board of Directors
Alan Ferry, CFA, Geologist: Director (Lead)
    Alan Ferry is an independent businessman since 2007 following over 27 years as a mining analyst and mining corporate finance specialist. Prior
    to that, he worked as a geologist.

Patrick Sheridan Jr., MSc: Founder, CEO and Director
     Mr. Sheridan has depth of experience, working in the mining industry for more than 20 years. He holds a B.Sc. and M.Sc. from the London
     School of Economics and Political Science, United Kingdom.

Claude F. Lemasson, P.Eng., MBA: President , COO and Director
                    ,     g,
    Mr. Lemasson is a professional engineer with over 22years of experience in mining construction and operations across Canada and the United
    States. From May 2006 to present, Mr. Lemasson was Goldcorp's General Manager of Projects for Canada and U.S. He was previously
    employed (2000-2006) with Goldcorp Inc. as the Mine General Manager of the Red Lake mine.

Dan Noone, MBA, Geologist: VP, Exploration and Director
   Mr Noone has 20 years experience in mineral exploration in Australasia and South America He was previously V P of Peru Operations for
   Mr.                                                                              America.                  V.P.of
   Aquiline Resources and prior to that was CEO of Absolut Resources.

Alexander Po, Geologist: Exploration Manager and Director
    Mr. Po is a freelance mining and exploration geologist with strong management experience. He has managed projects in over 16 different
    countries. He holds a Master of Engineering Degree (Mining Geology) from the Institute of Mining Geology, Akita University, Japan.

Robert A. Bondy, LLB: Director
   Mr. Bondy recently retired from Blake, Cassels & Graydon LLP where he spent over 30 years in the Securities and Corporate Law Groups .

Richard Williams, LLB: Director
    Mr. Williams is the Director of First Metals Inc. and of Waseco Resources Inc. He is also the President and founder of Blackwell Investor
    Relations Corp., an investor relations firm specializing in establishing and strengthening relationships between public companies and the
    investment community.


                                                                                                                                                52
                                                                 www.guygold.com
Management Team
CEO: Mr. Patrick Sheridan Jr., M.Sc.
   CEO of Guyana Goldfields from its inception in 1994 – 6.5% ownership stake in GUY
   Active in mineral exploration in Guyana for 14 years – discovered the Aurora gold deposit
   Mr.                   MSc.
    Mr Sheridan holds a MSc in Economics from the London School of Economics

President & COO: Mr. Claude F. Lemasson, P.Eng., MBA
    21 years of mine design, construction and management experience
    Former Goldcorp General Manager of Projects for Canada & US - Oversaw construction/operation of Goldcorp’s Red Lake Mine
    Graduate of the Kellogg-Schulich Executive MBA program

Executive VP, Finance and CFO: Mr. Paul Murphy, B.Comm, CA
   40+ years of international financial experience , of which 30 years almost exclusively in the resource industries
   Former Partner with PwC and National Mining Leader in Canada/Leader for the Western Hemisphere Mining Centre of Excellence
   Responsible for assessing all financing options

VP, Exploration: Mr. Dan Noone, BApSci (Geol), MBA
    20 years of international mineral exploration and development experience
    Previous VP of Peru Operations for Aquiline Resources Inc. (Acquired by Pan American Silver Corp.)
    Held various senior geologist roles managing projects in Papua New Guinea, Indonesia, Peru, Ecuador and Argentina.

Co ntr Manager G ana Ms Violet Smith
Country Manager, Guyana: Ms.
   20+ years experience in operations management
   Involved with the Company since its inception
   Oversees all operations and logistics in Guyana as well as the public relations in country

VP, Corporate Communications: Ms. Jacqueline Wagenaar: B.Mos
    Previously lead investor relations programs for several junior mining companies
    Responsible for all marketing, communications and investor relations initiatives
    Graduate of the University of Western Ontario in Business
                                                                                                                                 5
                                                                 www.guygold.com                                                 3
    Management Team cont d..
    Management Team cont’d..
CSR and Human Relations Manager: Ayaana Caldeira
   9+ years of socio-economic, psychological, environmental, and socio-cultural work experience in Canada, South & West Africa, and Guyana.
            y                                                    g       g
    Previously worked as a Consultant with Ground Structures Engineering Consultants in which she conducted baseline studies for Environmental and
    Social Impact Assessment submissions for various mineral exploration companies in Guyana.
   Responsible for promoting Guyana Goldfield’s initiative in Guyana of carrying out mining exploration activities in a socially and environmentally
    responsible way in the developing country of Guyana.

Environmental Manager: Alex Riley
    15+ years of work environmental management experience in Canada, South America and Southeast Asia.
    Alex led the team working on two separate EIAs for Antamina’s mine and electric transmission line. He has experience managing a social and
     environmental impact assessment for a Guatemalan mining project conducted in accordance with International Finance Corporation (IFC) Performance
     Standards and World Bank guidelines.
    Oversees all environmental-related aspects of the Company




                                                                                                                                                  54
                                                                   www.guygold.com
   Project Team
   Project Team
Claude F. Lemasson, P.Eng., MBA: President , COO and Director
    Mr. Lemasson is a professional engineer with 20 years of experience in mining construction and operations across Canada and the United States. From
     May 2006 to present, Mr. Lemasson was Goldcorp's General Manager of Projects for Canada and U.S. He was previously employed (2000-2006) with
     Goldcorp Inc. as the Mine General Manager of the Red Lake mine.

Project Administrator: Mr. Jean-Claude Bonin
    25 years of experience in Project Administration, Management Accounting and Financial Planning with solid knowledge and experience in mining
     projects and operations.
    From 2003 to 2011, he was a Project Administration Manager with Rio Tinto and SNC-Lavalin in Madagascar, South Africa.
    Help support all feasibility study work

Senior Mine Engineer: Mr. Milko Rivera
    14 years of experience as a Geological and Mining Engineer with solid knowledge and experience in design, construction, cost control, and project
     management in the areas of mining/processing/environmental including exploration
    Experience in QA/QC construction and assay lab reporting, underground mine design, ground control, pre-feasibility and feasibility studies, and mine
     development
    H l support all f
     Help                 ibilit t d       k
                 t ll feasibility study work

Study Coordinator: Mrs. Christine Robinson
    15 years experience in general business management
    Responsible for overall coordination and review of studies work

Senior Consultant: Mr. Rod Pye, BSc, ARSM
    40 years of experience in mine engineering, mine operations and development of large mining projects
    Responsible for technical review of mining reserve estimates, open pit and underground mine planning and associated capital and operating cost
     estimates

Earthworks Superintendent: Mr. Prince William
    Seasoned earthworks specialist with 40+ years of extensive experience in road and mine construction as well as civil projects, including working in
     tropical environments
        p
    Responsible for all the earthworks related to the Aurora project


                                                                                                                                                       55
                                                                       www.guygold.com
   Project Team cont d..
   Project Team cont’d..
Maintenance Superintendent: Mr. Colin Chester
    Seasoned maintenance specialist with 40+ years of extensive experience in maintaining mine equipment, including working in tropical environments
    Responsible for all the maintenance of equipment related to the Aurora project

Senior Consultant: Dr. Norm T. Ng-A-Qui
    30 years of experience in civil works, mining, environmental and water resources
    Responsible for technical review of infrastructure, mining and water management

Survey Manager: Mr. Richard Mulliken
    20 years surveying experience
    R       ibl for ll           k d       i                  l t d to the Aurora G ld P j t
     Responsible f all survey work and managing survey crews related t th A        Gold Project

Human Resources Manager: Mr. Peter Benny
   30+ years experience in industrial relations and mining projects
   Worked on a multitude of projects in Guyana, Suriname and Haiti and was involved in the operation of the Omai Gold Mine and Bosai Minerals
   Responsible for managing the human resources function of the Aurora Gold Project




                                                                                                                                                  56
                                                                    www.guygold.com
    Exploration Team
    Exploration Team
Senior Geologist: Nathaniel Silvio, MAusImm
    25 years solid exploration and mining geology experience in various types of deposits
    Worked on various exploration projects in countries such as Philippines, Indonesia, and Papua New Guinea
    Responsible for all related exploration work at Aurora Project

Senior Geologist: Augusto Flores IV, P.Geo
    22 years solid exploration and mining geology experience in various types of precious metal deposits (gold, silver, porphyry copper, nickel laterite, and
     platinum group elements).
    Worked on various exploration projects in countries such as Philippines, Indonesia, and the Yukon Territories and Northern Ontario in Canada
    Responsible for overall coordination of exploration related activities for Aurora and Aranka Projects.

Senior Geologist: Jose Roy Sereneo
    19 years solid exploration geology experience in gold, porphyry copper, chromite and platinum-group minerals.
    Worked on various exploration projects in countries such as the Philippines, United States (Nevada), Indonesia and Myanmar.
    Responsible for all exploration related work at Aranka Project.
    Key member of the Sulfur Rose deposit discovery.

Senior Geologist: Norman Baybayan
    20 years of extensive experience in mineral exploration for gold and base metals mostly in tropical climate of various geologic terrains.
    Worked on various exploration projects in Paracale, Indonesia, Philippines, and Panama
    His asset qualification includes operations experience as mine geologist both for surface and underground mining.

Senior Geologist: Joey Pena
    20+ years of extensive exploration experience for gold and base metals mostly in tropical climate of various geologic terrains.
                                                   Philippines, Australia,
     Worked on various exploration projects in the Philippines Australia and Indonesia
    Asset qualifications includes handling the database and identification of gold targets for exploration and development, assisting in geological modeling
     and interpretation for various projects




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    Community projects (2002 
    Community projects (2002 – present)
Select significant community contributions include:


 2008 – Present: Bartica Commemoration Monument – Estimated cost of $4-6M GYD

 2007 – Education and Recreation programs - $1.1M GYD

 2006 – Present: Donation to assist National Freedom Day - $300,000 GYD annually

 2006 – 2008: Large GUY generator utilized to provide power to residents – Estimated
            expenditure of $3.2M GYD annually
 2006 – 2007: Itabali Children Playground - $445,000 GYD

 2005 – 2006: Aranka Water Well established providing safe drinking water - $3.2M GYD
                                             p       g             g
 2002 – Present: Medical services & assistance on camp site - Estimated expenditure of
            $2-5 M GYD annually


                                                        ~US$34 500
Total approximate average annual expenditure: $7M GYD = ~US$34,500
Total approximate expenditure to date: $48.2M GYD = ~US$237,800


                    Foreign                            $200**
                  **Foreign Exchange Rate: US $1 = GYD $200


                                                                                          58
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Site Geology
Site Geology
Geological Description
 Rory's Knoll mineralization: disseminated pyrite and gold mineralization associated with intense silica-
   fuchsite sericite carbonate
   fuchsite-sericite-carbonate alteration in tonalite intrusive probably emplaced at the hinge of the folded volcanic
   rock and metasediments.
 Mad Kiss mineralization: disseminated pyrite and gold mineralization associated with intense silica-fuchsite-
   sericite-carbonate alteration in a quartz feldspar porphyry dyke.
 Aleck Hill mineralization: mesothermal gold veins hosted in the shear zones of metavolcanic and
   metasedimentary rocks; occurs in a zone of pyrite-rich quartz-carbonate veins in volcanic rocks that are
   enclosed in an alteration envelope which reportedly includes silica-sericite and calcite cement filling fractures.




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