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Canadian mining company expands new gold zones at Guyana project with positive results
…CEO says they will continue to explore “world-class camp”
Kaieteur News- Canadian mining company, G2 Goldfields Inc. earlier this month announced a series of promising results from its ongoing exploration at the OKO-Aremu gold project located in Guyana.
The project spans 27,719 acres, and recent drilling has uncovered significant potential for expanding gold resources in the area. In April, the company announced an updated Mineral Resource Estimate (MRE) for the OKO-Aremu project comprising 922,000 ounces of gold (Indicated) and 1,099,000 ounces of gold (Inferred).
The company explained that the Oko’s gold source lies along 2.5 kilometers long north-south structure which is defined by the high grade of the Oko Main Zone (OMZ) resources to the north, which entails 686,000 ounces of gold (Indicated) and 495,000 ounces of gold (Inferred) and the Ghanie open pit and underground resource to the south, which includes 236,000 ounces of gold (Indicated), with an additional 604,000 ounces of gold (Interfered). The compa
Canadian mining company, G2 Goldfields Inc. operates in OKO/AREMU Region 7, Cuyuni Mazaruni
ny added that drilling in the southern half of the structure has unveiled new potential for resource expansion.
Moreover, G2 said that follow up drilling of a hole, led to the discovery of a significant new gold horizon to the south of previously defined gold mineralisation. “Six new drill holes define this emerging zone which has traced gold mineralisation from surface to vertical depths of almost 400m,” the company said. In addition, drilling in the northern and southern portion of the 1.2 kilometers Ghanie Zone, has also been successful in expanding both near surface as well as deeper gold mineralisation.
The company’s Chief Executive Officer (CEO), Dan Noone was quoted saying, “These recent drill results continue to demonstrate the extraordinary exploration potential of the greater OKO gold system. Gold mineralization in this central part of the greater trend is truly open in all directions. With working capital in excess of Cdn$50 million, we are well capitalized as we continue to explore this world class camp.”
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.
The company had disclosed that Anglo Gold Ashanti (AGA), the fourth-largest gold producer in the world, has 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. The Oko district has been a prolific alluvial goldfield since its initial discovery in the 1870’s, and modern exploration techniques continue to reveal the considerable potential of the district.
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