https://www.northernminer.com/
AngloGold Ashanti (NYSE:AU), the fourth-largest gold producer, is buying a stake in Guyana-focused G2 Goldfields (TSXV: GTWO; US-OTC: GUYGF) even as neighbouring Venezuela vows to seize the land where its main project sits.
Denver-headquartered AngloGold is paying $22.5 million for 11.7% of G2, AngloGold said on Tuesday. G2 plans to update its resource next year for the OKO project which lies 120 km west-southwest of the South American country’s capital city, Georgetown.
The OKO Main deposit hosts 793,000 indicated tonnes grading 8.63 grams gold per tonne for 220,000 contained oz. and 3.3 million inferred tonnes grading 9.25 grams gold for 974,000 gold ounces, according to an initial resource in April 2022.
AngloGold says it’s interested in the Guiana Shield cutting across the continent’s northeast that hosts G2’s OKO project, Reunion Gold’s (TSXV: RGD) Oko West deposit next door and Guyana’s largest mine, Aurora, which G2 financed and developed before selling it to China’s Zijin Mining in 2020 for US$238 million.
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