G2 Goldfields Receives Notice of Grant of Large Scale Prospecting Licenses of the Oko Gold Project
G2 Goldfields (OTCQX: GUYGF) has secured two Large Scale Prospecting Licenses for its Oko-Ghanie Gold Deposit in Guyana. The licenses cover approximately 17,451 acres and replace 11 previous medium-scale mining permits. The project currently holds 1.5 million ounces indicated at 3.40 g/t Au and 1.6 million ounces inferred at 2.48 g/t Au.
The licenses have a three-year term with two one-year renewal options, providing exclusive exploration rights. The company has completed environmental baseline studies and is preparing for an Environmental Social Impact Assessment. An updated Mineral Resource Estimate and Preliminary Economic Assessment are expected in Q4 2025.
G2 Goldfields (OTCQX: GUYGF) ha ottenuto due licenze di prospezione su larga scala per il deposito aurifero Oko-Ghanie in Guyana. Le licenze coprono circa 17.451 acri e sostituiscono 11 permessi di estrazione su scala media. Il progetto dispone attualmente di 1,5 milioni di once indicated a 3,40 g/t Au e 1,6 milioni di once inferred a 2,48 g/t Au.
Le licenze hanno una durata di tre anni con due opzioni di rinnovo di un anno ciascuna, garantendo diritti esclusivi di esplorazione. La società ha completato studi ambientali di base e si sta preparando per una Valutazione di Impatto Ambientale e Sociale. Una stima aggiornata delle risorse minerarie e una Valutazione Economica Preliminare sono previste per il Q4 2025.
G2 Goldfields (OTCQX: GUYGF) ha asegurado dos licencias de prospección a gran escala para el depósito aurífero Oko-Ghanie en Guyana. Las licencias abarcan aproximadamente 17.451 acres y reemplazan 11 permisos de explotación de escala media. El proyecto cuenta actualmente con 1,5 millones de onzas indicadas a 3,40 g/t Au y 1,6 millones de onzas inferidas a 2,48 g/t Au.
Las licencias tienen un plazo de tres años con dos opciones de renovación de un año, otorgando derechos exclusivos de exploración. La compañía ha completado estudios ambientales de referencia y se prepara para una Evaluación de Impacto Social y Ambiental. Se espera una estimación actualizada de recursos minerales y una Evaluación Económica Preliminar en el Q4 2025.
G2 Goldfields (OTCQX: GUYGF)가 가이아나의 Oko-Ghanie 금 광상에 대해 대규모 탐사 허가 2건을 확보했습니다. 해당 허가는 약 17,451에이커를 포괄하며 기존의 중간 규모 채굴 허가 11건을 대체합니다. 이 프로젝트는 현재 표준 3.40 g/t Au에서 150만 온스(indicated)와 2.48 g/t Au에서 160만 온스(inferred)의 자원을 보유하고 있습니다.
허가는 3년 유효기간에 1년씩 연장 가능한 옵션 2회를 포함해 배타적인 탐사 권리를 제공합니다. 회사는 환경 기초조사를 완료했으며 환경·사회 영향평가(ESIA) 준비를 진행 중입니다. 갱신된 광물자원추정 및 예비경제성평가는 2025년 4분기(Q4 2025)에 예정되어 있습니다.
G2 Goldfields (OTCQX: GUYGF) a obtenu deux licences de prospection à grande échelle pour le gisement aurifère Oko-Ghanie en Guyana. Les licences couvrent environ 17 451 acres et remplacent 11 permis d'exploitation de taille moyenne. Le projet détient actuellement 1,5 million d'onces indiquées à 3,40 g/t Au et 1,6 million d'onces inférées à 2,48 g/t Au.
Les licences ont une durée de trois ans avec deux options de renouvellement d'un an, offrant des droits exclusifs d'exploration. La société a mené les études environnementales de base et se prépare à une évaluation des impacts environnementaux et sociaux. Une estimation mise à jour des ressources minérales et une étude économique préliminaire sont prévues pour le Q4 2025.
G2 Goldfields (OTCQX: GUYGF) hat zwei großflächige Prospektionslizenzen für die Oko-Ghanie-Goldlagerstätte in Guyana erhalten. Die Lizenzen decken rund 17.451 Acres ab und ersetzen 11 frühere mittelgroße Bergbaulizenzen. Das Projekt weist derzeit 1,5 Millionen Unzen indicated bei 3,40 g/t Au und 1,6 Millionen Unzen inferred bei 2,48 g/t Au auf.
Die Lizenzen haben eine Laufzeit von drei Jahren mit zwei einjährigen Verlängerungsoptionen und gewähren exklusive Explorationsrechte. Das Unternehmen hat Umwelt-Basisstudien abgeschlossen und bereitet eine Umwelt- und Sozialverträglichkeitsprüfung vor. Eine aktualisierte Schätzung der Mineralressourcen und eine vorläufige Wirtschaftlichkeitsstudie werden für Q4 2025 erwartet.
- Secured Large Scale Prospecting Licenses for Oko-Ghanie Gold Deposit
- Project contains significant high-grade gold resources of 1.5M oz indicated and 1.6M oz inferred
- Project area does not overlap with protected or Indigenous lands
- Located in Guyana, ranked as a top 10 global jurisdiction for mining investment
- None.
- Updated Mineral Resource Estimate (MRE) and Preliminary Economic Assessment (PEA) anticipated in Q4 2025
- G2 moves to rapidly advance multi-million ounce Oko Gold Project to production
TORONTO, Aug. 28, 2025 (GLOBE NEWSWIRE) -- G2 Goldfields Inc. (“G2” or the “Company”) (TSX: GTWO; OTCQX: GUYGF) is pleased to announce that the Ministry of Natural Resources and Guyana Geology and Mines Commission have approved the issuance of two Large Scale Prospecting Licenses (“PL’s”) which encompass the Company’s high-grade Oko-Ghanie Gold Deposit (“Oko” or the “Project”) in Guyana.
Dan Noone, CEO, commented: “Securing the Prospecting Licenses for our flagship Oko-Ghanie Deposit is a significant milestone in the advancement of the Project and underscores our strong working relationship with the Government of Guyana. This approval provides a clear pathway to advance exploration and development of this world-class gold system. With this license in hand, we are well positioned to unlock the full potential of this highly prospective gold district and rapidly drive the advancement of this Project.”
Patrick Sheridan, Executive Chairman, stated: “Guyana was recently recognized as a top ten jurisdiction globally for mining investment¹. This milestone is a testament to both the prolific prospectivity of the Guiana Shield and the Government of Guyana’s strong support for the rapidly advancing gold mining industry, and foreign investment development in general. The Oko Gold Project is the second multi-million ounce gold mine that our group has discovered and developed in Guyana in the last twenty years, and we remain excited to continue to be a supportive partner in the development of the industry.”
The Large Scale PL’s encompass the Oko and Ghanie Deposits (1.5 million ounces indicated at 3.40 g/t Au and 1.6 million ounces inferred at 2.48 g/t Au) with a combined area of approximately 17,451 acres and replace 11 separate medium-scale mining permits previously held in the name of Guyanese entrepreneurs through option agreements. The PL’s have a three-year term with two renewal rights for one year each and provides for the right of occupation and exclusive right to explore for gold and precious minerals.
Over the last two years, comprehensive environmental baseline studies have been conducted by G2 via third party consultants. These studies were designed to recommend actions for effective Project design, regulatory compliance and to support the preparation of an Environmental Social Impact Assessment ("ESIA"). Importantly, the Project area is not designated as a priority conservation site and does not overlap with any protected or Indigenous lands.
Endnotes
- Source: Fraser Institute Annual Survey of Mining Companies, 2024
About G2 Goldfields Inc.
G2 Goldfields finds and develops gold deposits in Guyana. The founders and principals of the Company have been directly responsible for the discovery of more than 10 million ounces of gold in the prolific and underexplored Guiana Shield. G2 continues this legacy of exploration excellence and success.
In March 2025, G2 announced an Updated Mineral Resource Estimate (“MRE”) for the Oko property in Guyana [see press release dated March 10, 2025]. Highlights of the Updated MRE include:
Total combined open pit and underground Resource for the Oko Main Zone (OMZ):
- 513,500 oz. Au – Inferred contained within 3,473,000 tonnes @ 4.60 g/t Au
- 808,000 oz. Au – Indicated contained within 3,147,000 tonnes @ 7.98 g/t Au
Total combined open pit and underground Resource for the Ghanie Zone:
- 1,024,500 oz. Au – Inferred contained within 12,062,000 tonnes @ 2.64 g/t Au
- 663,400 oz. Au – Indicated contained within 10,288,000 tonnes @ 2.01 g/t Au
Total open pit Resource for the Oko NW Zone:
- 97,200 oz. Au – Inferred contained within 4,976,000 tonnes @ 0.61 g/t Au
The MRE was prepared by Micon International Limited with an effective date of March 1, 2025. The Oko district has been a prolific alluvial goldfield since its initial discovery in the 1870s, and modern exploration techniques continue to reveal the considerable potential of the district.
All scientific and technical information in this news release has been reviewed and approved by Dan Noone (CEO of G2 Goldfields Inc.), a “qualified person” within the meaning of National Instrument 43-101. Mr. Noone (B.Sc. Geology, MBA) is a Fellow of the Australian Institute of Geoscientists.
Additional information about the Company is available on SEDAR+ (www.sedarplus.ca) and the Company's website (www.g2goldfields.com).
On behalf of the Board of G2 Goldfields Inc.
“Daniel Noone”
CEO & Director
For Further Information
Jacqueline Wagenaar, VP Investor Relations
Direct: +1.416.628.5904 x.1150
Email: j.wagenaar@g2goldfields.com
Forward-Looking Statements
This news release contains certain forward-looking statements, including, but not limited to, statements about plans to advance to production, the mineralization and mineral resource estimates in respect of the Company’s properties, an updated MRE and PEA and the anticipated timing thereof, PL terms and renewal rights, and plans to support the preparation of a future ESIA. Wherever possible, words such as “may”, “will”, “should”, “could”, “expect”, “plan”, “intend”, “schedule”, “anticipate”, “believe”, “estimate”, “predict” or “potential” or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management’s current beliefs and are based on information currently available to management as at the date hereof.
Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements, including the risk factors set out in the annual information form of the Company for the year ended May 31, 2024. These factors should be considered carefully and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this news release are based upon what management believes to be reasonable assumptions, the Company cannot assure readers that actual results will be consistent with these forward-looking statements. The Company assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.
FAQ
What are the gold resources at G2 Goldfields' Oko-Ghanie Gold Deposit?
What type of licenses did G2 Goldfields receive for the Oko Gold Project?
When will G2 Goldfields release the updated Mineral Resource Estimate for Oko?
What is the duration of G2 Goldfields' new prospecting licenses in Guyana?
Are there any environmental or Indigenous land conflicts with G2 Goldfields' Oko Project?
