Eagle Mountain gold project targets 66,500 ounces a year
The open pit mine is planned for 15 years, and NS Energy says the output figure comes from an early-stage study.
The Eagle Mountain gold project could yield 66,500 ounces of gold each year. The plan is an open pit mine that would run for 15 years.
Kaieteur News reported these figures in a story published on 22 October 2026. EITI Guyana gives the same number. It calls it an average over the Life of Mine (LOM), which is the full life of the mine.
Eagle Mountain is the Guyana asset of Mako Mining Corp., according to company material. Mako is a gold mining, development and exploration company listed on a public stock market.
The same company material said Goldsource shares would come off the TSX Venture Exchange once the takeover was complete.
NS Energy reported that the 66,500 ounce figure comes from a study by Goldsource. The study is called a Preliminary Economic Assessment (PEA) and is dated January 2024. A PEA is an early-stage study. The company said the results support moving on to a pre-feasibility study.
NS Energy said the PEA gave an after-tax IRR of 57%. IRR is the yearly return on the money put in. The PEA put the after-tax NPV at US$292 million. NPV is what future earnings are worth today. That used a 5% discount and gold at US$1,850 per ounce.
Mining Weekly reported in July 2024 that Mako had said, at the time of its takeover, that the plan suited its operating team. The plan was for a shallow open pit with an expected 15-year mine life.
Kaieteur News reported that Mako drilled 54 holes at Eagle Mountain in the third quarter. The holes totalled 4,467 meters. In the first six months of 2026, it drilled 45 holes totalling 2,253 meters.
The story was first reported by Kaieteur News.