Canadian firm expects swift approval for gold project

Jan 01, 2026 News

(Kaieteur News) – Canadian miner G2 Goldfields Inc. expects that regulatory approval for its Oko Gold Project could allow early works to begin within 24 months or less after the submission of its Environmental and Social Impact Assessment (ESIA). This was outlined in its recently published maiden Preliminary Economic Assessment (PEA).

With the PEA now completed, the company said it is positioned to submit a preliminary mine design to Guyana’s Environmental Protection Agency (EPA) as part of its application for an environmental permit. This process requires environmental authorisation from the EPA following the submission and approval of an ESIA, which G2 expects to file in the first quarter of 2026.

“The Company anticipates that, based on recent precedents in Guyana, the period from ESIA submission to receiving a temporary environmental permit to begin early works on the Project would be 24 months or less. The Company’s permitting activities will be guided by ongoing stakeholder engagement and government consultations, ensuring compliance with environmental and social international standards,” the company stated.

Canadian firm expects swift approval for gold project

G2 is targeting total production of approximately 3.2 million ounces of gold from its Oko Gold Project, with average annual output projected at about 281,000 ounces during the mine’s peak years. The project will entail a combined open-pit and underground operation with a 14-year life of mine, supported by an updated mineral resource of 1.6 million ounces of gold in the Indicated category and 1.9 million ounces in the Inferred category.

Moreover, G2 noted that over the past two years it has completed comprehensive environmental baseline studies through third-party consultants. These studies were aimed at supporting effective project design, regulatory compliance and the preparation of the ESIA. According to the PEA, the Oko Project area is not designated as a priority conservation site and does not overlap with any protected or Indigenous lands.

The PEA also outlines significant employment during construction and operations. During the mine construction phase, the workforce is projected to peak at approximately 1,250 personnel over an estimated 18-month period, in addition to workers required for open-pit pre-stripping activities during the six months prior to commercial production. Once operational, the mine and processing plant are expected to sustain an average workforce of about 800 employees. Operations are anticipated to run continuously, with two 12-hour shifts per day, seven days a week.

In addition to the development timeline, the company highlighted near-mine resource growth opportunities. Drilling is continuing to target open extensions of high-grade mineralisation immediately outside the current mineral resource, with assays pending on drilling that has encountered visible gold. The company said these targets are intended to extend known high-grade systems, test new mineralised structures and build on the existing resource base.

Daniel Noone, Chief Executive Officer (CEO) of G2 had stated, “This PEA places the Oko Project firmly within one of the most attractive development projects globally. The PEA demonstrates the Project has the potential to generate very significant annual production at an average AISC cost of US$1,137/oz and is hosted in mining-friendly Guyana which actively promotes the development of large-scale gold mining. Moreover, the Project tenements host significant exploration potential, with multiple drill programs active across various adjacent and near-mine targets. We will be aggressively moving the Oko Project to feasibility and construction as we continue to explore this emerging gold mining district.”

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G2 Goldfields, gold, Gold Project, Oko Project, Preliminary Economic Assessment

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