Subject: [Gold] Gross-Rosebel

Article:

Montreal and Denver, May 8, 1997 GROSS ROSEBEL MINING RESERVES INCREASE TO 1.8 MILLION OUNCES Cambior Inc. and Golden Star Resources Ltd. announce an increase in estimated mining reserves at the Gross Rosebel project in Suriname. Proven and probable mining reserves at Gross Rosebel are now in excess of 35 million tonnes grading 1.6 g Au/t, representing approximately 1.8 million ounces of gold in situ, a 32% increase over the September 1996 estimate at a higher grade.

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Geology and sampling The Gross Rosebel concession lies within the Lower Proterozoic Guiana Shield that stretches from the Amazon River in Brazil to the Orinoco River in Venezuela. The Surinamese portion of the shield consists of three distinct belts of metamorphic rocks separated by large areas underlain by granitoids and gneisses. Primary gold mineralization occurs mostly in quartz and quartz-carbonate veins which are generally restricted to lithological contacts, fold closures and sub-vertical shear corridors. The gold typically occurs as free grains of native gold, often precipitated close to vein margins or interlaced in pyrite crystals in veins or in potassic alteration haloes in adjoining country rocks. ...snip

Location and access The property lies some 80 km south of the capital city of Paramaribo and covers 170 square km in an area of small hills covered with tropical rain forest, separated by discontinuous savanna. The concession is accessible by a 30 km paved road connecting Paramaribo to Paranam and then by an all weather gravel road leading to the exploration camp. The village of Nieuw Koffiekamp, with a population of about 400, is the nearest settlement and is located within the concession, only 2 km from the Golden Star/Cambior exploration camp. The town of Brokopondo is some 35 km east of the concession by road.

Ownership Golden Star Resources Ltd. acquired a five-year Right of Exploration to the Gross Rosebel property in the Preliminary Mineral Agreement between Golden Star, Grasshopper Aluminum Company N.V. (Grassalco) a state-owned mineral company and the Government of Suriname dated May 8, 1992. The final tripartite agreement among Golden Star, Grassalco and the Republic of Suriname was signed on April 7, 1994.










Met dank aan Albert Buys