(Jamaica Observer, 2.Jan.2022) — Mineral exploration company Geophysx Jamaica Limited following preliminary findings from a series of exploration activities done locally has moved to roll-out phase three of the project, through which it seeks to confirm commercial finds in gold, copper and rare earth minerals.
“We have now completed the first two phases and we know what we are looking for in the areas of interest and we are beginning phase three starting in January to February — so we hope to have some more news to share in the new year,” stated Robert “Bobby” Stewart, chief executive officer of Geophysx, in responding to questions from the Jamaica Observer following a press briefing held at the Ministry of Transport and Mining last Thursday.
Dubbed the largest exploration programme in the mining industry outside of bauxite, the project, which began in April 2018, holds licences to explore for copper, zinc, gold and other minerals. To date over 40,000 geochemical analyses have been conducted across local topography — including virgin and territories covered in limestone to determine the presence of minerals in areas of interest, currently narrowed to gold, copper and rare earth deposits.
“Phases one and two have shown us several areas that we are going to focus on because we know there is something there but we’re just not quite sure how to define it yet, so phase three is expected to define that based on the samples obtained. In the next three months we’ll start to have information back from that and work will continue through the year as we make more discoveries in an environmentally sound and non disruptive way,” Stewart further told the Sunday Finance.
The project privately held and funded by the company’s principal has so far spent over $1 billion to offset expenses associated with exploration activities which include overall evaluations of the mineralogy and geochemistry of the island. Currently employing some 28 workers, including geology graduates from The University of the West Indies (UWI), the project is also executed through the assistance of overseas consultants comprising geophysicists, geologists, explorationists, and geochemists.
“As a local company, we focus on building local talent,” Stewart said, noting however that while he was at the moment unable to calculate possible returns on investment, major developments in remaining exploration activities will definitely create significant value for the local economy.
“The types of discoveries we are looking for, I think, will create a lot of wealth locally and within the communities where they’re found,” he stated.
Minister of Transport and Mining Robert Montague, commenting on the latest developments in the mining sector, said he was overly anxious for confirmations to be made. “When I had announced the programme in Parliament there was some scepticism, as persons were saying only limestone and bauxite would be present but the surveys have shown that there is ‘something else’ and we are moving now for the confirmation of that something else.”
He noted that the mining industry which has been resilient despite the effects of the novel coronavirus pandemic continues to be a strong revenue generator for the country, contributing significantly to national gross domestic product (GDP) and turning billions in revenues annually.
“We are therefore hoping that that these further explorations will expand employment for our people, create more opportunities and increase foreign exchange earnings for the country,” the minister stated.
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By Kellaray Miles
