Latest update April 8th, 2025 7:13 AM
Canadian company working in Guyana gold reserves climbs by 1M ounces
G2 Goldfields project in Guyana ( Credit: Alisha Hiyate)
Kaieteur News – G2 Goldfields Inc., a Canadian-based company has announced an updated Mineral Resource Estimate (MRE) of its 27,719-acre Oko gold project, located in Guyana.
The updated MRE comprises a discrete high-grade resource for the Oko Main Zone (OMZ) and a disseminated bulk mineable resource for the Ghanie Zone. It was stated that while the total contained gold increased by 69% to 2.0 million ounces (oz), the total indicated gold increased by 320% to 922,000 oz.
The total combined open pit and underground resource reported in the MRE for the OMZ includes 686,000 oz of gold in Indicated resource, with an additional 495,000 oz of gold in inferred resources. The total combined open pit and underground resource reported in the MRE for the Ghanie Zone includes 236,000 oz of gold in indicated resource, with an additional 604,000 oz of gold in inferred resources. The company disclosed that the MRE was prepared by Micon International Limited.
Speaking on the updated MRE, Patrick Sheridan, the company’s Executive Chairman, said, “The OMZ has proven to yield exceptional high grade at mineable widths as we drill deeper, and Ghanie is taking shape to be highly complementary to the Oko gold system. We will continue to aggressively explore the Oko to Aremu trend and anticipate an updated resource in Q4.”
As it relates to the Ghanie Zone maiden MRE, the company said it signifies a major shift towards realising the district-scale nature of the Oko gold system. The Ghanie Zone represents a disseminated bulk mineable and open-pittable deposit which strongly complements the adjacent high-grade underground deposit at the OMZ. It was noted that Ghanie South (GS), Central (GC), and North (GN) all remain open with substantial depth potential.
G2 Goldfields said, since April 2022, the OMZ has been further defined with additional indicated resources confirmed. The OMZ is characterised by shear vein hosted mineralization with spectacularly high grade.
Moreover, in a June 3 statement, the company provided an update on the new discovery at Northwest Oko (NW Oko) which is part of the Oko-Aremu gold project.
The NW Oko discovery lies about 3.5 km from the current established gold resource at the Oko Main/Ghanie areas, opening up a new district for resource expansion. Geologically, NW Oko is very similar to the Oko Main/Ghanie zone, featuring long prominent shear structures that host mineralized quartz veins which are situated near the margins of carbonaceous sediments and volcanics.
The company stated, “The most advanced of the discoveries to date is the target 1 area where near-surface gold mineralization has been delineated over an 800-metre strike length. Multiple diamond drill holes have intersected disseminated gold mineralization over considerable widths as well as discrete, high-grade shoots, spaced along the length of the shear zone.”
As it relates to the NW Oko, Sheridan said, “The NW OKO discovery is the third discovery by Dan Noone, Boaz Wade and their team, illustrative of the considerable prospectivity within G2’s properties. This summer will be very busy for the Company as we will be drilling with two rigs in NW OKO, three rigs in the Ghanie area, as well as maiden drill programs at several new, previously unexplored, high priority targets along the 17km long Oko-Aremu trend.”
Moreover, the G2 Goldfields team comprises professionals who have been directly responsible for the discovery of millions of ounces of gold in Guyana as well as the financing and development of the Aurora Gold Mine (AGM), Guyana’s largest gold mine.
Also, the company disclosed that Anglo Gold Ashanti, the fourth-largest gold producer in the world, recently made a substantial investment in the company. At the close of the subscription, AGA owned approximately 11.7% of G2’s issued and outstanding shares.
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