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Gold deal allows Australian company to hold on to 3, 500 sq kilometers mining lands
…Company reports high grade samples at Reg. 7 project
(Kaieteur News) – The deal Australian company, Altair Minerals Limited inked with Guyanese conglomerate, Adamantium Exploration Inc., caters for the company to increase its 590 square kilometers (km²) landholdings in Guyana to up to 3,500 km².
Last year, the company acquired the right to earn-in up to 70% interest in the Greater Oko Project which is located in Region Seven (Cuyuni-Mazaruni). The company has labeled the project as one that has the potential to be its “company maker.”
After nine months of negotiations, Altair was able to enter into a binding heads of agreement in August 2025 with Adamantium Exploration Inc. a company that is owned by the Alphonso family.
View of Greater Oko Project
According to Altair, while the initial landholdings span over 590 km² contiguous mining lands, the agreement caters for the expansion of up to 3,500 km² of mining lands, positioning the company as the “most dominant explorer” in Guyana.
For comparison, Georgetown has an appropriate area of 39 km² making the Australian firm 590 km² gold project in Guyana, roughly 15 times the size of Georgetown. If the land holding is increased, that would put Altair Minerals in control of mining lands in Guyana that spans approximately 89 times the size of the city.
According to the company, the Greater Oko Project, which is in an advanced exploration stage, is considered the largest gold exploration in Guyana and in the Guiana Shield. The company also spotlighted that Greater Oko is twice the combined size of every active gold project in Guyana.
The project area consists of four advanced targets: South Oko (Soko), North Peters (NP), Old Granny (OG) and Kmung (KM). Altair’s initial exploration work is focusing on Soko and NP.
Moreover, Altair disclosed that at South Oko, high-grade gold samples of up to 34.56 grams per tonne (g/t) were recorded, while geophysical surveys identified several drill-ready targets. It noted that samples taken from exposed quartz veins at the base of Trench 6 returned gold grades of 34.56 g/t and 27.21 g/t, indicating the presence of primary gold mineralisation at SOKO.
The company also disclosed that 28 holes were completed at North Peters deposit, averaging 31 metres in depth, with infill and step-out diamond drilling expected to begin soon.
Altair Minerals Limited Chief Executive Officer (CEO), Faheem Ahmed, commented, “Encouragingly, a grab sample from the company’s first deep trench at SOKO returned the highest grade recorded at the project to date, assaying an outstanding 34.56g/t Au…”
Notably, Altair is the third explorer to enter the Oko corridor, following Canadian mining firms G Mining Ventures (GMIN) and G2 Goldfields. South Oko is positioned 1.5 km south of Oko West project which is owned by GMIN. With GMIN now in play to acquire its fellow Canadian miner G2’s Oko-Ghanie property, the company is positioned to control seven-million ounces of gold in the Oko area by consolidating the adjacent projects. It also expands GMIN’s footprint in Guyana by 293 km², creating a combined contiguous land package of over 362 km².
Altair had outlined that GMIN and G2’s exploration success has already validated the untapped potential, establishing multiple tier-1 discoveries made from grassroot exploration campaigns. It added that GMIN’s and G2’s results achieved within a small fraction of the project area validate the potential for multi-million-ounce discoveries.
This publication reported that Altair on its website, painted Guyana as the “last truly pro-mining” and politically stable country within the Guiana Shield. It also highlighted that Guyana mining areas host geology similar that of West African countries. Altair explained that Guyana’s mining lands consists of the same Birimian Greenstone Belt that has underpinned world-class gold discoveries across West Africa— including in Ghana, Ivory Coast, and Burkina Faso.
Altair noted however, that unlike extensive exploration in the African nations, Guyana remains significantly underexplored.
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