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GMIN announces new high-grade discovery at Oko West gold mine
Kaieteur News – Canadian gold miner, G Mining Ventures (GMIN), on Tuesday announced a new high-grade discovery at its Oko West gold project in Guyana.
In an exploration update, the company reported that recent drilling guided by a newly developed Splay Model along the main mineralised zone has delivered high-grade intercepts.
GMIN said this confirms both near-mine growth and regional discovery potential.
The company also highlighted the discovery of a second high-grade plunge of mineralisation beyond the current pit limits to the north at Oko West’s Block 1. It explained that the Splay Model captures the structural complexity of the main shear system and helps identify new exploration targets beyond the existing reserve pit.
“Exploration at Oko West continues to expand our understanding of the deposit and reinforces the robust economics demonstrated in the Feasibility Study…” said Julie-Anaïs Debreil, Vice President Geology & Resources. “High-grade intercepts confirm Oko West’s exceptional potential and support future mine life extensions…”
Since completing its Feasibility Study drilling, GMIN has carried out an additional 9,968 metres of core drilling focused on extensions outside the known reserve. The results, it said, have led to the discovery of a second high-grade plunge that begins near surface and lies outside of the existing pit. The grades identified could be easily integrated into the current open pit and underground mine plan, according to the company.
GMIN noted that this new ore shoot discovery demonstrates that the Oko West deposit continues to grow.
This announcement follows the recent disclosure by the company that it has received the Environmental Permit from Guyana’s Environmental Protection Agency (EPA) for the 5.4 million ounces Oko West project. The five-year permit is valid through July 2030. It authorises the construction and operation of Oko West, which is expected to create an average of 1,270 direct permanent jobs during its lifetime.
GMIN is the 100% owner of the Oko West gold project, which falls under its main prospecting licence (PL) covering 44 square kilometers (10,890 acres), containing an estimated 5.4 million ounces of gold. The company had revealed that it expanded its land holdings in Region Seven (Cuyuni-Mazaruni) to 71 square kilometers. The Feasibility Study for Oko West outlines a long-life, low cost, and high-margin operation. The company had said that the Oko West project is targeting an average annual production of 350,000 ounces of gold over a 12.3-year mine life.
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