Ioannis Tsitos, MSc., is the President and Director of Goldsource Mines Inc. (CVE:GXS) (OTCMKTS:GXSFF) (FRA:G5M). The Canadian resource company is working aggressively to develop its advanced-stage, 100%-owned Eagle Mountain saprolite gold project in Guyana, South America. Through a pilot plant initiative, the company achieved low-cost, Phase I gold production at the project in 2016. Goldsource is now focused on delivering feasibility studies to achieve large-scale gold production at Eagle Mountain.
Mr. Tsitos has nearly 30 years of experience in the mining industry, having spent 19 years with BHP Billiton group. In his time in the industry, he has lived and worked in South Africa, Ecuador, Greece and the United Kingdom, and has been working in Canada since 2000. Originally a physicist-geophysicist, he left BHP Billiton in December 2007, where he served as the new business manager for minerals exploration based in Vancouver. He has been instrumental in the identification, negotiation and execution of more than 50 exploration agreements with juniors, majors, as well as with state exploration and mining companies. In this exclusive interview with the Wall Street Transcript, Ioannis Tsitos explains in great detail how the gold is mined.
“Looking at what is the big plan here for us, the vision for Goldsource Mines in Eagle Mountain is really to support a large-scale, 4,000- to 5,000-ton-a-day, open-pit, gravity-CIL gold operation, which is going to be focused on a low strip ratio, so therefore, low-cost mining of surficial saprolite. To that extent, we’re drilling every day. We’ve got our own two rigs. We pursue an aggressive program to increase the saprolite resources we have. The ultimate plan is to become a viable operation with a goal of producing between 50,000 to 70,000 ounces of gold per year. At this level, either with the current or expanded resource, the company is targeting a minimum of eight years mine life before we go to blast the hard rock part of the deposit.”
To get the full description including the equipment, costs and processes necessary for extracting gold from Guyana, read the entire interview in the Wall Street Transcript.