IGR controls a large landholding within the Brazilian Amapa Gold belt;
part of the pre-Cambrian Guyana Shield, which is home to major gold
producing operations such as Cambior’s Omai
Mine (3.7 million ounces produced;) in Guyana and the Gros Rosebel Mine
(73 million tonnes @ 1.4 gpt Gold for 3.2 million ounces contained;) in
Suriname. The license areas controlled by IGR contain both gold in
quartz veins and saprolites and tailings from earlier mining operations.
Work by IGR to date, concentrated on identifying recoverable gold in
tailings and saprolites. IGR has identified a total inferred resource,
(not 43 - 101 compliant,) of approximately 800,000 ounces of gold
contained in tailings and saprolites with a gold content of 0.8 to 1.1
grams per ton. Metallurgical studies carried out by Canadian
Environmental & Metallurgical Inc. confirmed that the tailings are
amenable to recovery by both gravity, and cyanidation.
The Company has purchased two recovery plants and money has been
allocated for site and road preparation. In October, 2006 IGR’s
Brazilian operation commenced the grading of 30 miles (50 kilometers) of
access road, which included rebuilding 27 bridges and this should be
completed in December, 2006.
The $1.3 million raised is to be spent specifically on: the earth moving
equipment for production including one bulldozer, two excavators and two
front end loaders, four dump trucks two four-by-fours, plus ancillary
equipment; transport to site, installation of the plants and working
capital. Production will commence by the end of the first quarter 2007.
The vision of International Gold Resources Inc. is to generate favorable
shareholder returns by exploring and developing mining properties in
North and South America.
The statements in the press release that relate to the company's
expectations with regard to the future impact on the company's results
from new products or actions in development are forward-looking
statements, within the meaning of the Private Securities Litigation
Reform Act of 1995. The statements in this document may also contain
"forward-looking statements" within the meaning of Section 27A of the
Securities Act of 1933 and Section 21E of the Securities Exchange Act of
1934. Since this information may contain statements that involve risk
and uncertainties and are subject to change at any time, the company's
actual results may differ materially from expected results.
