Reunion Gold, a Canadian mining company, has sealed a pivotal agreement with the government of Guyana, solidifying favorable conditions for the longevity of its Oko West gold project. The accord underscores a commitment to local workforce enhancement, along with proactive measures for environmental and social protection.
In adherence to Guyana’s mining policies, Reunion Gold has established a substantial US$1 million annual fund dedicated to community-driven initiatives. This fiscal injection aims to foster sustainable development and bolster socio-economic upliftment within the region.
Chief Executive Officer (CEO), Rick Howes emphasized the significance of this milestone, hailing it as a crucial step in mitigating project risks and fortifying support from the Guyanese government. The agreement he said, signals a mutual dedication to advancing the Oko West project, situated in northwest Guyana.
“This significant milestone marks an important de-risking step towards the development of the Oko West project and underscores the robust support extended by the government of Guyana towards the project’s development,” he said.
Discovered during Reunion’s inaugural drill campaign in 2021, the Oko West project is strategically positioned south of the renowned “Oko” gold district, approximately 95 km west of Georgetown. Initial drilling efforts have validated the presence of gold mineralization, particularly within the northern segment of a substantial 6-km-long gold-in-soil geochemical anomaly. Notably, the bulk of exploration activities have concentrated on the northern 2 km of this anomaly, identified as the Kairuni zone.
Following extensive drilling endeavors at the Kairuni zone, a preliminary resource estimate was unveiled in June 2023. Subsequent updates earlier this year revealed an enhanced resource inventory, boasting 64.6 million tonnes grading 2.05 g/t gold for 4.3 million ounces in the indicated category, alongside 19.2 million tonnes grading 2.59 g/t gold for 1.6 million ounces in the inferred category.
The latest resource assessment, unveiled in February 2024, underscores notable expansions in both size and grade potential, encompassing both open-pit and underground opportunities. This comprehensive resource evaluation is slated to inform the forthcoming preliminary economic assessment (PEA) study, setting the stage for informed decision-making and strategic project advancement.
