G2 Goldfields expands gold resources at Oko Project, Guyana
G2 Goldfields Inc. [TSX: GTWO; OTCQX: GUYGF] reported an updated Mineral Resource Estimate (MRE) within the company’s 83,967-acre Oko Project, Guyana. The bulk of gold mineralization lies along a prominent 2.5-km long north-south structure comprised of the high-grade Oko Main Zone (OMZ) to the north and a bulk mineable, disseminated resource to the south, known as the Ghanie Gold Zone. The new resource includes all drilling data obtained up to the end of January 2025 and represents a significant increase to the previous estimate released on April 3, 2024.
Daniel Noone, CEO, stated, “This MRE firmly establishes our Oko Project as both large and comparatively high grade. This, combined with Guyana’s pro-development mining policies, places Oko near the top of undeveloped gold projects. We will continue to leverage our experience, success and knowledge of this emerging district to find and develop more mines for Guyana.”
Indicated resources total 1.5 Moz grading 3.40 g/t gold and include high-grade, near surface zones (S3, S4, S5) at OMZ of 609,000 oz averaging 10.25 g/t gold within approximately 5 to 370 metres from surface, reflecting the favorable vertical zonation of the deposit. Inferred resources total 1.6 Moz of 2.48 g/t gold and include high-grade, near surface zones at OMZ of 360,000 oz at an average grade of 7.28 g/t gold within approximately 5 to 560 metres from surface.
The resource includes all drilling data obtained up to the end of January 2025, including an additional 188 drill holes totalling 59,154 metres for a total inventory of 587 drill holes within 152,817 metres. The estimate was prepared by Micon International Limited in accordance with NI 43-101 standards with an effective date of March 1, 2025.
Zones remain open for further growth. The OMZ and Ghanie deposits consist of multiple plunging zones of high-grade mineralization that remain open vertically. These zones continue to be successfully targeted in an on-going drill program at Ghanie North and the OMZ Shear 3, where visible gold have been intersected in multiple recent drill holes. Two diamond drill rigs are currently active targeting high-grade plunging mineralization.
The G2 team is fully focused on near surface targets in the greater Oko area, including assets proposed to be part of the G3 Goldfields Inc. spin-out. The potential for the discovery of additional gold resources is considered to be excellent. G2 is currently drilling several prominent gold-in-soil anomalies north of the Oko Project which are interpreted to be part of a regional structural break. Additionally, a major soil sampling and mapping program is ongoing on the greater G2 property portfolio.
The G2 Goldfields team is comprised of professionals who have been directly responsible for the discovery of millions of ounces of gold in Guyana as well as the financing and development of the Aurora Gold Mine, Guyana’s largest gold mine [RPA, 43-101, Technical Report on the Aurora Gold Mine, March 31, 2020].
In March 2025, G2 announced an Updated Mineral Resource Estimate (MRE) for the Oko property in Guyana. Highlights of the updated MRE include the following.
Total combined open pit and underground Resource for the Oko Main Zone (OMZ): 513,500 oz. Au – Inferred contained within 3,473,000 tonnes at 4.60 g/t Au; 808,000 oz. Au – Indicated contained within 3,147,000 tonnes at 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 at 2.64 g/t Au; 663,400 oz. Au – Indicated contained within 10,288,000 tonnes at 2.01 g/t Au
Total combined open pit and underground Resource for the Oko NW Zone: 97,200 oz. Au – Inferred contained within 4,976,000 tonnes at 0.61 g/t Au.
The MRE was prepared by Micon International Limited with an effective date of March 1, 2025. Significantly, the updated mineral resources lie within an average depth of 370 metres of surface. 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.
AngloGold Ashanti [NYSE: AU] currently holds 35,948,965 shares representing 14.99% of the issued and outstanding shares of G2. G2 currently has cash holdings exceeding C$37 million (unaudited) and is well financed to execute on this regional exploration program.