Latest update August 19th, 2026 10:39 AM
Canadian firm eyes more gold fields in Guyana
Map showing location of Noseno Gold Property
…already sitting on 37,000 acres
(Kaieteur News) Canadian-listed mining company XAU Resources Inc. that is already sitting on over 37,000 acres of mining lands in Region One (Barima-Waini) is evaluating additional acquisition opportunities within the same gold camp as its Noseno Gold Project.
The Noseno Property is located in north-western Guyana in one of Guyana’s most prospective greenstone belts. The project comprises 37 licenses covering 37,623 acres (or 152 square kilometres).
XAU’s move to acquire more mining lands is based on the objective to build a larger, consolidated land position with geological continuity. While noting that further updates will be provided, the company stated, “There can be no assurance that any opportunity under review will result in a definitive transaction.”
Notably, XAU is currently in the process of gaining control of the Quartz stone Gold Project in Region Seven (Cuyuni-Mazaruni) which covers 296 square kilometres of contiguous mining lands. The company is looking to acquire the gold project through the acquisition of the Barbados-incorporated QS Holdings Inc. that is the parent company of local company Qstone Inc. which controls the Quartz stone project.
Noseno is an early stage greenfields project and despite its geological potential it is unexplored. The property is located in the same greenstone terrane (a specific block or fragment of earth’s crust that broke off from one tectonic plate) as Chinese-state owned company Zijin Mining Aurora Gold Mine which is located approximately 46 kilometres to the southeast, and Canada-based Aris Mining 5.4 million ounce Toroparu project, which is located approximately 58 kilometres to the south.
In a recent corporate update, XAU noted it is now finalising an updated independent NI 43-101 technical report on the project, prepared by TKT Geoscience Ltd., with an effective date of 24th July, 2026. The report concludes that Noseno’s geological setting is favourable for orogenic, greenstone-hosted gold mineralisation.
According to XAU, the company has also advanced geophysical work at Noseno, including the purchase of 5,257 line-kilometres of legacy airborne magnetic and radiometric data from the Guyana Geology and Mines Commission (GGMC). Notably, the data has since undergone reprocessing by Global Venture Consulting, with XAU stating that the dataset will be independently validated, analysed, reimaged and interpreted to improve geological and structural understanding and assist with exploration targeting.
Based on the technical report, a staged exploration programme with an estimated total budget of approximately US$2.4 million has been recommended. The first phase, estimated at approximately US$550,000, would focus on target generation through the interpretation of historical geophysical data, additional stream-sediment and soil sampling, geological mapping and rock sampling.
Meanwhile, the second phase, estimated at US$410,000, would involve about 5,000 metres of trenching to evaluate geochemical and geological targets. Notably, subject to the results of the trenching, the third phase would involve approximately 3,000 metres of diamond drilling at an estimated cost of US$1.12 million.
XAU said it intends to advance the recommended programme in stages during the 2026-2027 field seasons, subject to financing, permitting, seasonal and logistical considerations. Further, the company cautioned that, as with any early-stage exploration project, there is no assurance that a mineral resource will ultimately be defined at Noseno. Moreover, exploration conducted during 2022 and 2023 included prospecting and Bulk Leach Extractable Gold (BLEG) stream-sediment sampling. The work returned clustered gold-in-stream anomalies and defined three principal and two secondary ranked target areas.
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