Canadian company expands footprint in Guyana with promising results at Tamakay, Abuya gold projects

Apr 20, 2025 News

Kaieteur News- Greenheart Gold Inc., the Canadian gold exploration company that entered the Guyanese market less than a year ago, is rapidly expanding its footprint in the country, announcing promising progress at its two projects Tamakay and Abuya.

Canadian company expands footprint in Guyana with promising results at Tamakay, Abuya gold projects

Tamakay Project showing location, access and regional geology

The company, which was formed in July 2024 as a spin-off from a business combination between Reunion Gold and G Mining Ventures (GMIN), recently released its first investor newsletter outlining its aggressive exploration strategy across the Guiana Shield.

Greenheart said its approach is focused on early-stage exploration within the geologically rich but historically underexplored Guiana Shield, which spans parts of Guyana and Suriname.

The company currently manages a portfolio of five projects – two in Guyana and three in Suriname. Its strategy is to maintain a rolling pipeline of 5 to 6 exploration properties, quickly assessing their potential before deciding to advance them through delineation drilling or relinquish them in favour of new prospects.

In March 2025, Kaieteur News reported that Greenheart Gold committed to over US$3.8 million in payments to local titleholders to fully acquire the Tamakay project, located approximately 300 kilometers west of Georgetown.

The company disclosed that it has already paid US$500,000 in 2024 and US$230,000 to date in 2025.

“To maintain its rights under all of the agreements and be entitled to exercise the various options, the Company will have to make additional payments of US$675,000 in 2025, US$1,055,000 in 2026, US$1,380,000 in 2027 and US$80,000 annually for the following seven years,” Greenheart Gold stated. Some agreements also include contingent payments based on future reserve estimates and production.

Despite the area’s long history of small-scale and alluvial mining dating back to 1937, Greenheart noted a striking lack of modern exploration at Tamakay. That is changing quickly.

Preliminary exploration, including grab and soil samples, has already yielded impressive results with assays returning grades as high as 969 g/t Au, 213 g/t Au, and 144 g/t Au.

Greenheart Gold has identified a large soil anomaly approximately 1,500 meters by 750 meters within the site’s volcanic rock units, alongside promising gold-bearing quartz veins within the granite. Trenching and further geologic mapping are now underway to assess the scale and continuity of these gold zones.

Meanwhile, at the Abuya project in northeastern Guyana, the company has completed two phases of soil geochemistry, uncovering multiple gold anomalies. The two largest anomalies span about 1 km by 2 km. Upcoming work includes more detailed soil sampling, trenching, and geologic mapping.

The company said that Guyana and Suriname and is known for its strength and resilience qualities the company says mirror its own vision for exploration success.

With C$45 million in cash on hand, the company said it is well-funded to push its exploration agenda. Within just nine months of its listing on the TSX Venture Exchange in September 2024, Greenheart Gold has expanded its portfolio from two to five projects, conducted early-stage exploration on all of them, and has already begun drilling at its Majorodam site in Suriname.

Greenheart noted that its aggressive and methodical approach aims to fast-track exploration cycles.

Each project undergoes rapid preliminary work—such as soil sampling, trenching, and mapping before decisions are made to scale up or exit.

According to the company, all its current projects share three key characteristics: they lie along significant geological contacts with evidence of deformation and they host current or historic artisanal gold mining and they had not previously been subjected to modern exploration before Greenheart’s arrival.

This framework underpins the company’s belief that there is significant untapped potential in the Guiana Shield. It also mirrors the successful playbook used by its leadership team during the Oko West discovery.

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