Alerio Gold Corp (CSE: ALE) this morning began trading on the Canadian Securities Exchange under the ticker symbol “ALE”. The firm is a junior gold explorer focused on developing its two recently acquired projects in Guyana.
The commencement of trading for the company follows the vend-in of two exploration projects from Goldeneye Capital, referred to as the Tassawini and Harpy properties. Both of which are in Guyana, the properties are prospective for gold.
The Tassawini Project is an advanced stage 3,413 acre property northwest of Georgetown, Guyana. With $34 million in historical expenditures conducted on the property, the property has seen 47,509 metres of drilling conducted across 1,279 holes, in addition to extensive trenching, metallurgical testing, geophysics and mapping.
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Several mineralized zones have been identified here, with widths ranging from 10 metres to over 50 metres. The property also hosts a historical resource estimate from 2009 of 437,000 ounces of indicated gold at a grade of 1.3 g/t, as well as 33,000 ounces inferred at 1.7 g/t gold. A two phase drill program is currently underway here.
The Harpy project meanwhile is deemed to be early stage, sitting adjacent to the Aurora gold deposit held by Guyana Goldfields. Significant artisanal mining has occurred across the property, which the company will factor into its early exploration programs to be conducted.
The company is lead by Jonathan Challis, a thirty year mining executive with experience in operations, management, financing, and analysis of mining projects globally. He’s a former director of a number of resource firms, and currently sits on the boards of Pasinex Resources and District Metals Corp.
Alerio Gold makes its public debut with 69.8 million shares outstanding and a further 4.0 million reserved for issuance. The company last traded at $0.37 on the CSE.
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