Guyana, one of South America’s smallest countries, is gaining attention from investors in Canada and Australia due to its gold potential. The country’s gold industry has been significant for over 150 years, with artisanal and small-scale mining providing employment and contributing to export earnings and government revenue.
Guyana’s Oko region has become a major focus for gold exploration and development, with over 9 million ounces of gold identified across the area. G Mining Ventures has strengthened its position in the district through two acquisitions totaling nearly 4 billion Canadian dollars.
Major Discoveries in the Oko District
The current wave of interest in Oko’s gold potential began when Reunion Gold, a Canadian exploration firm, obtained rights to two mining permit groups in 2018. Follow-up drilling revealed the Kairuni deposit, confirming Oko West as a significant find. By 2024, the project’s resources included roughly 4.3 million ounces of indicated gold and 1.6 million ounces inferred.
Nearby, fellow Canadian outfit G2 Goldfields made its own discoveries across the Oko-Ghanie project. The discoveries set the scene for a major consolidation, with G Mining Ventures acquiring Reunion Gold and G2 Goldfields in deals worth C$875 million and C$3 billion, respectively.
G Mining Ventures is now progressing Oko West toward production, aiming for an annual output of 350,000 ounces over a mine life exceeding 12 years. Construction is active, with commercial production set for early 2028. The company is also assessing how to incorporate Oko-Ghanie into a larger operation, targeting 500,000 ounces yearly.
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Exploration Efforts by Altair and Liberty
Altair Minerals has initiated a 75,000-meter drilling campaign to uncover new gold deposits, focusing on the South Oko zone. Initial trenching results suggest promising potential, with one section showing 10 meters grading at 10.15 grams per tonne of gold. Two rigs are now smashing out the metres at South Oko as part of a 15,000m drill blitz. The campaign forms part of a broader 75,000m program across several prospects at Greater Oko. Early outcomes from North Peters appear encouraging, with visible gold observed in two separate quartz-carbonate vein systems in one diamond hole.
Liberty Metals has also joined the regional hunt, acquiring 180km2 of ground interpreted to cover extensions of the mineralised trend hosting the Oko deposits. The company has appointed members of the team behind some of the region’s original discoveries to drive its exploration push and is undergoing a name change to El Dorado Goldfields. Liberty has reported maiden rock chip sampling results from Oko North, with grades reaching 2.32g/t Au and 1.94g/t Au, confirming gold mineralisation in hard rock.
Altair’s exploration push is backed by more than $33 million in cash, following a $28.2 million placement to UK-based gold miner Endeavour Mining in April. The company’s tenure in the Oko district covers 457km2, including about 18km of strike along the Oko Shear Contact, the same structure that hosts the nearby gold deposits. With drilling underway, Altair is waiting for the first assays from the new drilling at North Peters, which are due in November, and has other priority targets at Greater Oko, including Old Granny and Kmung.
Liberty’s Exploration Plans
Liberty Metals has secured a major foothold in the Oko district, with an option to acquire 90% of two projects covering about 180km2. The company’s Oko North and Oko South blocks lie about 60km apart and provide exposure to about 60km of the broader Oko district trend. The company’s exploration efforts are supported by a $5 million placement, and it is expected to start trading under its new name, El Dorado Goldfields, on October 23.
