Sun and Sand Mining Resources Inc. plans to invest a total of US$12M into a proposed open pit mine in the Cuyuni/Mazaruni.
Named Quartzstone Gold Project, B-45, the intended mining operation is expected to have a life expectancy of 85 years, during which time initial capital expenditure for construction is projected to be in the order of US$10M, with another US$2M for sustaining capital over the life of the mine.
“Sun and Sand Mining Resources Inc. will deploy approximately 75 full time people over the next 10 to 12 years of mine life through a mining contracting company,” the company’s project proposal states, while noting that the
