Latest update February 25th, 2026 12:26 AM
Canadian firm announces acquisition of two large-scale gold prospecting licences days before elections
Kaieteur News – Canadian gold miner, G2 Goldfields has announced that the Ministry of Natural Resources and Guyana Geology and Mines Commission approved the issuance of two large-scale Prospecting Licences (PL).
G2’s Chief Executive Officer (CEO) Dan Noone
G2 made the disclosure on August 28. In a statement, the company noted that the PL’s encompass G2’s high-grade Oko-Ghanie Gold Deposit which is located in Guyana.
The PL encompass the Oko and Ghanie Deposits, 1.5 million ounces indicated at 3.40 g/t Au and 1.6 million ounces inferred at 2.48 g/t Au, with a combined area of approximately 17,451 acres and replace 11 separate medium-scale mining permits previously held in the name of Guyanese entrepreneurs through option agreements.
Notably, the PL have a three-year term with two renewal rights for one year each and provides for the right of occupation and exclusive right to explore for gold and precious minerals. G2 noted that over the last two years, comprehensive environmental baseline studies have been conducted via third party consultants. The company noted that these studies were designed to recommend actions for effective project design, regulatory compliance and to support the preparation of an Environmental Social Impact Assessment (ESIA).
G2’s Chief Executive Officer (CEO) Dan Noone, said, “Securing the Prospecting Licences for our flagship Oko-Ghanie Deposit is a significant milestone in the advancement of the Project and underscores our strong working relationship with the Government of Guyana.”
He added that the approval provides a clear pathway to advance exploration and development of Guyana’s “world-class gold system.” “With this licence in hand, we are well positioned to unlock the full potential of this highly prospective gold district and rapidly drive the advancement of this Project,” Noone added.
For his part, Patrick Sheridan, Executive Chairman highlighted that Guyana was recently recognized as a top ten jurisdiction globally for mining investment.
“This milestone is a testament to both the prolific prospectively of the Guiana Shield and the Government of Guyana’s strong support for the rapidly advancing gold mining industry, and foreign investment development in general. The Oko Gold Project is the second multi-million-ounce gold mine that our group has discovered and developed in Guyana in the last twenty years, and we remain excited to continue to be a supportive partner in the development of the industry,” Sheridan stated.
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