Latest update February 25th, 2026 2:55 PM
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Canadian firm announces new gold discoveries at Guyana project
One of the rigs at the OKO Gold Project in Guyana
(Kaieteur News) Canadian-based miner G2 Goldfields Inc. has announced new gold discoveries outside its existing mineral resource areas at the high-grade OKO Gold Project in Guyana.
G2 is targeting total production of approximately 3.2 million ounces of gold from the project, with average annual output projected at about 281,000 ounces during the mine’s peak years.
According to the company’s maiden Preliminary Economic Assessment (PEA) for the project will entail a combined open-pit and underground operation with a 14-year life of mine.
OKO’s recent mineral resource estimate stands at 1.6 million ounces of gold in the Indicated category and 1.9 million ounces in the Inferred category.
In an update, the company said it is executing a 100,000-metre drilling campaign aimed at expanding and upgrading resources. Notably, the programme is expected to be completed by the end of 2026.
Exploration is ongoing along the more than 15-kilometre OKO zone, where drilling is extending known mineralization. Along the 20-kilometre Aremu gold zone several new greenfields discoveries have been made.
As part of its 2026 plans, exploration campaigns will run in tandem with early works programmes, as well as ongoing environmental and geotechnical studies. These efforts are intended to further define the project and reduce development risks ahead of completing a Feasibility Study and making a formal construction decision by mid-2027.
Currently, G2 has two drilling contractors on site operating six drill rigs, with two additional rigs expected next month to accelerate work.
Dan Noone, G2 Chief Executive Officer
The company said four rigs are focused on resource expansion and exploration, while two are dedicated to upgrading and converting Inferred mineral resources to Indicated mineral resources for inclusion in the forthcoming Feasibility Study.
Further, it was noted that exploration results continue to indicate mineralisation beyond established resource boundaries. Dan Noone, G2 Chief Executive Officer, stated “As we continue to advance the OKO Project towards production, our focus remains on aggressive drilling to further grow and upgrade the Project’s gold resource base. Recent results and discovery success continue to demonstrate the remarkable exploration potential and significant remaining upside across the Oko District.”
In late 2025, G2 conducted a 1,513-metre reconnaissance drilling programme in the Sands exploration area, located four kilometres northwest of the main OKO gold resource. Notably, Sands area forms part of the broader 20-kilometre Aremu trend, which has historically seen widespread gold mining.
It was disclosed that the 11-hole programme resulted in the discovery of a new near-surface gold zone with geological similarities to the company’s high-grade OKO deposit.
Moreover, the company also reported multiple gold-in-soil anomalies east of the new discovery area, pointing to further exploration potential.
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