(Kaieteur News) – Liberty Metals Ltd has reported gold mineralisation from sampling at its Oko North Gold Project in Region Seven, following the launch of its maiden exploration programme.
On 12th August, Liberty announced that it had acquired a 90% interest in the Oko North and Oko South Gold Projects, a package of 40 granted medium-scale mining permits covering approximately 180 square kilometres (km²) in Guyana’s Oko gold district, Cuyuni-Mazaruni – an area where nine million ounces of gold have already been established by other foreign players.
Shortly after, the company mobilised its team on the grounds and launch its maiden exploration. In an update on the work so far, Liberty said assay results from its maiden field campaign confirmed several styles of gold mineralisation.
The sampling was conducted only at Oko North, while Liberty said it is preparing a maiden exploration programme for Oko South.
Liberty Executive Chairman Nicholas Katris said the results were an encouraging start to exploration at Oko North.
“These maiden rock chip results are a highly encouraging start to our exploration at Oko North. Returning gold grades of up to 2.3 g/t gold from our very first field campaign, with multiple samples above 1 g/t gold across quartz veins, sheared felsic rocks and paleo-conglomerates, confirms that the extensive artisanal workings and visible gold we have mapped are underpinned by a genuine hard-rock gold system,” he said.
A systematic soil geochemical programme involving approximately 5,000 samples is also underway across Oko North and Oko South. Liberty said the results will be used to identify and prioritise targets for a maiden drilling campaign at Oko North.
Liberty’s entry was secured through an agreement with a private Guyanese vendor. Under the agreement, Liberty will have four years to exercise its option to acquire the 90% interest. The total consideration is approximately US$8 million, excluding a separate milestone payment.
It was explained that the milestone payment would become payable upon completion of a bankable feasibility study for the project. Liberty Metals is now the second Australian firm to control a significant land package in the district. Altair Minerals in 2025 secured a 70% interest in the Greater Oko Gold Project, which spans 590 km² of contiguous mining lands in the area.
Source: Kaieteur News
