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The Paul Isnard project is located in the western part of French Guiana, some 200 km west of Cayenne. The property is accessible from St-Laurent-du-Maroni, either by air or unsealed road.
The project covers rocks of the Lower Proterozoic Paramacca Formation which contain gold mineralization in the form of pyritic disseminated zones or stringer zones and sulfide-rich shear zones, which can be reasonably correlated between the widely spaced (200 meter) drill sections.
We have included an inferred mineral resource in our 2008 year-end resource estimate of 9.2 million tonnes grading 2.51 g/t at Montagne d'Or on the southern boundary of the Paul Isnard concession. Further work is warranted to identify additional sources of hard rock mineralization, which together with the mineral resource at Montagne d'Or could possibly support a future mining operation.
We have temporarily reduced exploration activities at our Paul Isnard project in French Guiana following the government’s recent announcement that it has suspended granting mining licenses pending the outcome of an environmental review of all French Guiana gold exploration areas.
Saramacca – Suriname (100% interest, Newmont earning into 51%)The Saramacca gold project is located in north-central Suriname, approximately 100 to 120 kilometers south-southwest of Paramaribo. Newmont Overseas Exploration Limited is our joint venture partner on the Saramacca Project.
The project area covers a 23-km-long Lower Proterozoic volcano-sedimentary greenstone belt along the general structural trend of Cambior's two-million-ounce Gross Rosebel deposit, discovered by Golden Star in 1994. This belt is intruded by a number of smaller granitic stocks and plugs which appear from regional geochemistry to be the possible source of widespread alluvial gold within the project area.
Two phases of district scale BLEG (bulk leach extractable gold) drainage sampling carried out by Golden Star have indicated an extensive gold anomaly which stretches for 12 to 15 km along the northern flank of the Brokolonko Range, extending to the southwest of the Gross Rosebel property.
The 2008 exploration program focused on diamond core drilling at four different anomalies including Anomaly ‘M’, Pompoekampoe, Anomaly ‘S’ and Anomaly ‘B’. An extensive regional geochemical soil grid sampling program was also carried out on the western portion of the concession where stream sampling had defined gold anomalies.
During 2008, Golden Star created an exploration subsidiary in Brazil known as Caystar Exploracao Mineral Brasil Limitada. Golden Star has been actively acquiring ground in Brazil since 2004, and we currently hold four active project areas in two states of Brazil (Minas Gerais and Mato Grosso).
