Canadian company to publish feasibility study for 4.5 million ounces gold project in Guyana
Jan 27, 2025
Kaieteur News- G Mining Ventures (GMIN), a Canadian company, has announced that the feasibility study for its Oko West Gold Project will be released in the second quarter of 2025.
The Oko West Project is currently considered an “advanced-stage exploration project”, and is expected to produce 353,000 ounces of gold annually from both open pit and underground mining. The project is projected to recover 4.5 million ounces of gold over 12.7 years, according to its Preliminary Economic Assessment (PEA) released in September 2024.
The Oko West Gold Project is on track for significant progress in 2025, the company recently disclosed. Early works are scheduled to commence in the first quarter, followed by financing arrangements in the second quarter and a formal construction decision is expected in the latter half of the year.
The Oko West Mine (gold project in Guyana)
In addition to the developments at Oko West, G Mining Ventures plans to conduct exploration activities across both greenfield and brownfield projects, further strengthening its portfolio. This is a part of GMIN’s “Buy. Build. Operate” strategy.
G Mining Ventures recently announced its progress on the project, with early construction work scheduled to begin this year. Guyana’s Environmental Protection Agency (EPA) granted an Interim Environmental Permit (IEP) paving the way for early construction. The EPA’s approval follows GMIN’s submissions of the Environmental Impact Assessment (EIA) and Environmental Impact Statement (EIS) for the Oko West Gold Project.
According to GMIN the IEP, which is valid for one year, along with the “No Objection” letter from the Guyana Forestry Commission, allows them to initiate early construction activities sooner than expected in Q1 of 2025.
The company noted that these activities include the construction of a barge landing facility, main access and internal roads, airstrip, permanent camp facility, water and sewage treatment plants and power generation and communication tower.
This publication had reported that the company plans to establish a new port of entry wharf and staging area near Itabali on the Cuyuni River to support operations for its Oko West Gold Project located in Region Seven (Cuyuni-Mazaruni).
The facility will include a wharf, laydown area, and accommodations for workers, with a 40-bed camp planned for the site. Materials and fuel required for the pre-operation and operation phases will be delivered to this landing.
Notably, pre-production activities, including the development of the wharf and terminal, are slated to begin in September 2025 and conclude by December 2026.
It was also reported that the company stated that an airstrip will be constructed in the project area. It was explained that while a number of alternative locations were considered, in the end, it was decided that the airstrip will be located to the south of the mine infrastructure and close to the pit/processing plant.
“The airstrip will be designed to accommodate airplanes up to the size of a Twin-Otter or Caravan and will be approximately 850 meters long. The airstrip will be used for the export of gold, personnel transport, and health and safety emergencies during all phases of the Project,” it was stated. When operational, it was stated, the flights will occur during daylight hours, as the airstrip will not be lit. “The airstrip will be unpaved and constructed from laterite. The airstrip will be oriented northeast-southwest, as required by prevailing winds,” the document states.
(Canadian company to publish feasibility study for 4.5 million ounces gold project in Guyana)
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