Canadian mining firm G2 reports 60% increase in gold resources at gold project in Guyana

May 19, 2025 News

Kaieteur News- Canadian mining firm, G2 Goldfields Inc., has announced a significant increase in gold resources at its flagship Oko Project in Guyana since its last Mineral Resource Estimate (MRE) dated April 3, 2024.

Effective March 1, 2025, G2 disclosed that there was a 60% increase in indicated gold resources, bringing its estimated recoverable gold to 1.5 million ounces, and a 49% increase in inferred resources to 1.6 million ounces.

Canadian mining firm G2 reports 60% increase in gold resources at gold project in Guyana

G2 Goldfields country map

The revised estimate is based on drilling data collected up to the end of January 2025 and includes an additional 188 drill holes, bringing the total to 587 holes covering over 153,000 metres. Located within an 83,967-acre property, the Oko Project consists of three main mineralized zones: the high-grade Oko Main Zone (OMZ) in the north, the bulk-tonnage Ghanie Zone in the south, and the more recently identified Oko Northwest Zone.

The majority of the indicated resources stem from the OMZ, which includes near-surface, high-grade mineralization with standout zones. These zones contain 609,000 ounces of gold at an average grade of 10.25 grams per tonne (g/t) gold, extending from just 5 to 370 metres below surface.

The OMZ alone now hosts 808,000 ounces in the indicated category at a grade of 7.98 g/t, and 513,500 ounces inferred at 4.60 g/t, placing it among the highest-grade gold deposits globally at shallow depth.

The Ghanie Zone has also seen growth, with indicated resources reaching 663,400 ounces at 2.01 g/t gold, and inferred resources rising to over one million ounces at 2.64 g/t. This zone is considered highly prospective for large-scale open-pit development, given the consistency and scale of mineralization. Meanwhile, the Oko Northwest Zone, though less advanced, has added 97,200 ounces of inferred resources at a grade of 0.61 g/t gold, highlighting further upside in the broader district.

G2’s Chief Executive Officer (CEO), Daniel Noone

G2’s Chief Executive Officer (CEO), Daniel Noone, said the updated estimate firmly establishes the Oko Project as both large and comparatively high grade, benefiting not only from its strong geology but also from Guyana’s pro-development mining policies. Noone said, “This MRE firmly establishes our Oko Project as both large and comparatively high grade. This, combined with Guyana’s pro-development mining policies, places Oko near the top of undeveloped gold projects. We will continue to leverage our experience, success and knowledge of this emerging district to find and develop more mines for Guyana.” The updated MRE was prepared by Micon International Limited in accordance with Canadian NI 43-101 standards. It was outlined that the resource remains open at depth and along strike, suggesting significant exploration potential beyond the current boundaries. With this updated estimate, G2 Goldfields has underscored its commitment to expanding gold production in Guyana, a country that has become an increasingly attractive destination for mining investment, especially Canadian companies, due to its geological endowment and stable regulatory environment. The company noted that the Oko district, which has a gold mining history dating back to the 1870s, continues to reveal new opportunities through modern exploration, and G2’s latest results reinforce the district’s long-term strategic value.

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