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Another Canadian mining company sets eyes on Guyana’s gold fields
…incorporates local subsidiary to assess exploration prospects
(Kaieteur News) – Guyana’s reputation as a mining-friendly jurisdiction has drawn another Canadian exploration company to its gold fields.
Vancouver-based Lexston Mining Corporation has incorporated a wholly owned local subsidiary, Lexston Guyana Inc., after an internal evaluation identified opportunities in the country’s gold-rich districts. The move follows the company’s recent engagement of Dentons Delany Inc., an international law firm with a Guyana office, and a site visit by Lexston representatives to assess prospects firsthand.
With the local entity now in place, Lexston plans to review exploration opportunities in Guyana’s established mining districts, including areas within its greenstone belts.
“The incorporation of Lexston Guyana Inc. is an important step in the Company’s review of opportunities in Guyana,” said Jag Bal, Lexston’s Chief Executive Officer. “Following our team’s recent visit, we are pleased to establish a local presence as we continue to assess potential exploration opportunities.”
The company is evaluating mineral concessions with an eye toward complementing its existing portfolio, which includes exploration projects in British Columbia and Nevada.
Lexston’s arrival adds to a growing wave of Canadian gold interest in Guyana. About 11 Canadian companies are now advancing gold projects across the country’s mining districts — most concentrated in Region Seven, the Cuyuni-Mazaruni Mining District, long recognised for its gold potential.
Five of those companies have published Proven and Probable Reserves and Indicated Mineral Resource Estimates totaling 15.7 million ounces of gold; the rest remain at earlier exploration stages without published resource figures.
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