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Canadian gold company to conduct environmental assessment for operations in Guyana
Kaieteur News – Reunion Gold Corporation, one of several Canadian mining companies in Guyana’s gold industry on Tuesday announced a significant step forward in its operations here.
President & Chief Executive Officer (CEO) of Reunion Gold, Rick Howes
The company revealed that the Environmental Protection Agency (EPA) has finalized and approved the Terms of Scope (ToS) for the Environmental and Social Impact Assessment (ESIA) on the Oko West Project, located in Guyana’s Region Seven (Cuyuni-Mazaruni).
Rick Howes, President and Chief Executive Officer (CEO) of Reunion Gold, expressed his satisfaction with the approval, stating, “We are very pleased that the EPA has approved the Terms of Scope for the ESIA on Oko West, as this represents a significant milestone in the advancement of the permitting process for the project.”
He highlighted the company’s commitment to maintaining an accelerated development timeline, aiming to complete a preliminary economic assessment (PEA) by the end of the second quarter of 2024.
Reunion’s journey toward this milestone began in September 2023 when the company applied for its environmental permit.
Since then, Reunion Gold said it has worked closely with the EPA to establish the ToS for the ESIA. This collaborative effort included meetings with government agencies and local communities in late last year to identify the crucial elements to be incorporated into the ToS.
In addition to finalizing the ToS, Reunion Gold has made significant progress in completing the environmental and social baseline studies required for the ESIA. These studies encompassed various aspects, including groundwater and air quality, plant, animal, and aquatic ecosystems, as well as socio-economic and health baselines. Community meetings were also conducted to address any potential cultural heritage considerations.
Looking ahead, Reunion Gold plans to complete its Preliminary Economic Assessment (PEA), by June 2024 and subsequently focus on advancing the feasibility study and environmental permits throughout the remainder of 2024 and into the first quarter of 2025.
Reunion Gold is now actively considering both open-pit and underground mining.
The company aims to reach a construction decision by 2025, marking another crucial milestone in its journey toward operational readiness in Guyana’s gold industry.
The Canadian mining company has firmly set its eyes on reaching gold production at its Oko West Gold Project by 2027. The company has an estimated 4.2 million ounces of gold.
In February 2024, Reunion announced an updated Mineral Resource Estimate (MRE) containing a total of 4.3 Moz of gold in Indicated Resources grading 2.05 g/t and 1.6 Moz of gold in Inferred Resources grading 2.59 g/t. The February 2024 MRE includes an underground Resource containing 1.1 Moz of gold at a grade of 3.12 g/t Au in the Inferred category.
This publication had reported that the company’s CEO, during an interview disclosed that they are on a fast tracked timeline with its Oko West project.
In 2020, the Company announced a new greenfield gold discovery at its Oko West project and announced its maiden mineral resource in June 2023 after just 22 months of resource definition drilling.
Since discovery, Howes noted that the resource estimate continues to grow, and that the deposit offers ample scale to underpin a meaningful mining operation. Last June, the company announced its maiden resource estimate of 2.5 million ounces of gold.
Reunion’s CEO underscored that what sets the company apart is the meticulous execution of their strategy to advance the project through studies and permitting, to support the aggressive timeline, which was affirmed by over US$70 million raised last September to fully fund the studies.
Reunion’s CEO attributed being adequately capitalized to continue without further dilution as a major accomplishment for the company last year.
Despite volatile markets, Reunion Gold was able to secure funding from La Mancha Investment Group.
- EPA, ESIA, gold, Mining, Reunion Gold
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