G2 Goldfields Delivers Maiden PEA for the High-Grade Oko Gold Project

Original announcement by tmx on

Company
G2 Goldfields Inc.
Ticker
GTWO
Exchange
TSX
Region
Guyana, South America
Primary commodity
Gold
Secondary commodities
None reported
Document categories
Resource update, Metallurgy, Other
Extracted
2026-08-25 14:49:44 UTC

Analysis by Minestarters Atlas

Minestarters Atlas analysis

Summary

G2 Goldfields announced a maiden Preliminary Economic Assessment (PEA) for its Oko Gold Project in Guyana, highlighting robust economics with an after-tax NPV5% of $2.6 billion and an IRR of 39% at a $3,000/oz gold price. The PEA is underpinned by an updated NI 43-101 compliant Mineral Resource Estimate totaling 1.6 Moz Au Indicated and 1.9 Moz Au Inferred, featuring high-grade underground components and strong metallurgical recoveries of 94%. The project outlines a 14-year mine life with average annual production of 281,000 ounces at an AISC of $1,137/oz Au (years 2-11) and a fast payback period of 2.6 years.

Reasoning: The maiden PEA for the Oko Gold Project demonstrates robust economics with a high after-tax NPV5% of $2.6 billion and an IRR of 39% at a base case gold price of $3,000/oz, supported by a substantial updated NI 43-101 compliant resource estimate and high metallurgical recoveries.

Positive factors

  • robust_economics
  • significant_resource_size
  • high_grade_underground_component
  • high_metallurgical_recovery
  • ni_43_101_compliant
  • qp_signed
  • accredited_lab

Negative factors

  • pea_includes_inferred_resources
  • no_measured_resources

Facts used in scoring: 25

Atlas analysis — G2 Goldfields Inc.: G2 Goldfields Delivers Maiden PEA for the High-Grade Oko Gold Project. indicated 1132000 tonnes; inferred 509000 tonnes

Classification and evidence

Maiden Resourceneutral

First formal MRE for the project — establishes baseline but typically exploration-stage with high Inferred component.

Why it applies: The document states 'Maiden PEA' and 'updated resource' incorporating six months of new drilling, indicating this is the first comprehensive economic assessment.

Evidence · text

“G2 Goldfields Delivers Maiden PEA for the High-Grade Oko Gold Project”

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: The PEA and MRE are explicitly stated to be prepared in accordance with National Instrument 43-101.

Evidence · text

“A technical report (the " Technical Report ") prepared in accordance with National Instrument 43-101 (" NI 43-101 ")”

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: Multiple Qualified Persons (QPs) are named and stated to be responsible for various sections of the PEA and MRE, and have reviewed and approved the technical disclosure.

Evidence · text

“William J. Lewis, P.Geo. from Micon International Limited is the Qualified Person (QP) for this MRE.”

Inferred Resourcenegative

Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: The PEA includes a significant portion of Inferred mineral resources (1.9 Moz Au), which are considered speculative.

Evidence · text

“The PEA is preliminary in nature and includes Inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves.”

High Recoverypositive

Recovery at or above the exceptional band for the commodity and processing route.

Why it applies: The overall life-of-mine gold recovery is stated as 94%, which is above the exceptional band for a mill/CIL processing route.

Evidence · table

“94.0”

Context: Total (LOM)

Mill Routeneutral

Processing via mill or concentrator (CIL, CIP, tank leach, flotation).

Why it applies: The processing plant design is based on a conventional circuit including comminution, gravity concentration, cyanide leach, and carbon-in-leach (CIL).

Evidence · text

“conventional circuit consisting of comminution, gravity concentration, cyanide leach and adsorption via carbon- in-leach (“ CIL” ), carbon elution and gold recovery circuits.”

Resource Updateneutral

Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: The document presents an updated Mineral Resource Estimate, incorporating new drilling data up to August 2025.

Evidence · text

“Underpinned by G2’s updated Mineral Resource Estimate, including 1.6 Moz Au at 3.24 g/t Au (Indicated) and 1.9 Moz Au at 3.31 g/t Au (Inferred), incorporating six months of new drilling.”

PFS-Supportingneutral

Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

Why it applies: The PEA is a preliminary economic assessment, which is an early-stage study that typically precedes a Pre-Feasibility Study (PFS).

Evidence · text

“Preliminary Economic Assessment (" PEA ")”

Extracted facts

Stored fact records: 25. Some facts used in scoring do not have a stored record.

Resource Estimates (25)

indicatedOko Main Zone (OMZ) · goldTonnes: 1132000Grade: 2.01Grade Unit: g/tContained Metal: 73000Contained Unit: ozView all details
Link to this fact

Identity

Project
Oko Main Zone (OMZ)
Commodity
gold
Ticker
GTWO

Resource Data

Category
indicated
Tonnes
1132000
Grade
2.01
Grade Unit
g/t
Contained Metal
73000
Contained Unit
oz
Cutoff Grade
0.23

Review

Needs Review
No
Historical
No

Dates

Event date
2025-12-18T00:00:00.000Z

Reasoning: This is an indicated resource for the OMZ open pit, contributing to the overall project's economic assessment.

Positive factors

  • indicated_resource
  • ni_43_101_compliant
  • qp_signed

Evidence · table

“2.01”

Context: 1,132,000

inferredOko Main Zone (OMZ) · goldTonnes: 509000Grade: 0.75Grade Unit: g/tContained Metal: 12300Contained Unit: ozView all details
Link to this fact

Identity

Project
Oko Main Zone (OMZ)
Commodity
gold
Ticker
GTWO

Resource Data

Category
inferred
Tonnes
509000
Grade
0.75
Grade Unit
g/t
Contained Metal
12300
Contained Unit
oz
Cutoff Grade
0.23

Review

Needs Review
No
Historical
No

Dates

Event date
2025-12-18T00:00:00.000Z

Reasoning: This is an inferred resource for the OMZ open pit, which is less certain than indicated resources but contributes to overall project potential.

Positive factors

  • ni_43_101_compliant
  • qp_signed

Negative factors

  • inferred_resource

Evidence · table

“0.75”

Context: 509,000

indicatedOko Main Zone (OMZ) · goldTonnes: 1693000Grade: 13.63Grade Unit: g/tContained Metal: 741600Contained Unit: ozView all details
Link to this fact

Identity

Project
Oko Main Zone (OMZ)
Commodity
gold
Ticker
GTWO

Resource Data

Category
indicated
Tonnes
1693000
Grade
13.63
Grade Unit
g/t
Contained Metal
741600
Contained Unit
oz
Cutoff Grade
1.21

Review

Needs Review
No
Historical
No

Dates

Event date
2025-12-18T00:00:00.000Z

Reasoning: This high-grade indicated underground resource is a significant positive for the project economics, demonstrating strong potential for selective mining.

Positive factors

  • indicated_resource
  • high_grade_underground_component
  • ni_43_101_compliant
  • qp_signed

Evidence · table

“13.63”

Context: 1,693,000

inferredOko Main Zone (OMZ) · goldTonnes: 2398000Grade: 6.77Grade Unit: g/tContained Metal: 522100Contained Unit: ozView all details
Link to this fact

Identity

Project
Oko Main Zone (OMZ)
Commodity
gold
Ticker
GTWO

Resource Data

Category
inferred
Tonnes
2398000
Grade
6.77
Grade Unit
g/t
Contained Metal
522100
Contained Unit
oz
Cutoff Grade
1.21

Review

Needs Review
No
Historical
No

Dates

Event date
2025-12-18T00:00:00.000Z

Reasoning: This inferred underground resource shows good grade potential, adding to the project's overall contained gold, though with lower confidence.

Positive factors

  • high_grade_underground_component
  • ni_43_101_compliant
  • qp_signed

Negative factors

  • inferred_resource

Evidence · table

“6.77”

Context: 2,398,000

indicatedOko Main Zone (OMZ) · goldTonnes: 2825000Grade: 8.97Grade Unit: g/tContained Metal: 814600Contained Unit: ozView all details
Link to this fact

Identity

Project
Oko Main Zone (OMZ)
Commodity
gold
Ticker
GTWO

Resource Data

Category
indicated
Tonnes
2825000
Grade
8.97
Grade Unit
g/t
Contained Metal
814600
Contained Unit
oz
Cutoff Grade
0.23

Review

Needs Review
No
Historical
No

Dates

Event date
2025-12-18T00:00:00.000Z

Reasoning: This combined indicated resource for OMZ represents a significant portion of the project's higher-confidence gold ounces.

Positive factors

  • indicated_resource
  • ni_43_101_compliant
  • qp_signed

Evidence · table

“8.97”

Context: 2,825,000

inferredOko Main Zone (OMZ) · goldTonnes: 2907000Grade: 5.72Grade Unit: g/tContained Metal: 534400Contained Unit: ozView all details
Link to this fact

Identity

Project
Oko Main Zone (OMZ)
Commodity
gold
Ticker
GTWO

Resource Data

Category
inferred
Tonnes
2907000
Grade
5.72
Grade Unit
g/t
Contained Metal
534400
Contained Unit
oz
Cutoff Grade
0.23

Review

Needs Review
No
Historical
No

Dates

Event date
2025-12-18T00:00:00.000Z

Reasoning: This combined inferred resource for OMZ adds to the overall project potential, but with lower geological confidence.

Positive factors

  • ni_43_101_compliant
  • qp_signed

Negative factors

  • inferred_resource

Evidence · table

“5.72”

Context: 2,907,000

indicatedGhanie · goldTonnes: 6574000Grade: 1.85Grade Unit: g/tContained Metal: 390300Contained Unit: ozView all details
Link to this fact

Identity

Project
Ghanie
Commodity
gold
Ticker
GTWO

Resource Data

Category
indicated
Tonnes
6574000
Grade
1.85
Grade Unit
g/t
Contained Metal
390300
Contained Unit
oz
Cutoff Grade
0.23

Review

Needs Review
No
Historical
No

Dates

Event date
2025-12-18T00:00:00.000Z

Reasoning: This indicated open pit resource for Ghanie contributes significantly to the project's total indicated ounces.

Positive factors

  • indicated_resource
  • ni_43_101_compliant
  • qp_signed

Evidence · table

“1.85”

Context: 6,574,000

inferredGhanie · goldTonnes: 4128000Grade: 1.01Grade Unit: g/tContained Metal: 133800Contained Unit: ozView all details
Link to this fact

Identity

Project
Ghanie
Commodity
gold
Ticker
GTWO

Resource Data

Category
inferred
Tonnes
4128000
Grade
1.01
Grade Unit
g/t
Contained Metal
133800
Contained Unit
oz
Cutoff Grade
0.23

Review

Needs Review
No
Historical
No

Dates

Event date
2025-12-18T00:00:00.000Z

Reasoning: This inferred open pit resource for Ghanie adds to the overall resource base but with lower confidence and grade.

Positive factors

  • ni_43_101_compliant
  • qp_signed

Negative factors

  • inferred_resource

Evidence · table

“1.01”

Context: 4,128,000

indicatedGhanie · goldTonnes: 1064000Grade: 6.45Grade Unit: g/tContained Metal: 220800Contained Unit: ozView all details
Link to this fact

Identity

Project
Ghanie
Commodity
gold
Ticker
GTWO

Resource Data

Category
indicated
Tonnes
1064000
Grade
6.45
Grade Unit
g/t
Contained Metal
220800
Contained Unit
oz
Cutoff Grade
1.21

Review

Needs Review
No
Historical
No

Dates

Event date
2025-12-18T00:00:00.000Z

Reasoning: This indicated underground resource for Ghanie provides a high-grade component, enhancing the project's economic viability.

Positive factors

  • indicated_resource
  • high_grade_underground_component
  • ni_43_101_compliant
  • qp_signed

Evidence · table

“6.45”

Context: 1,064,000

inferredGhanie · goldTonnes: 7409000Grade: 4.72Grade Unit: g/tContained Metal: 1123300Contained Unit: ozView all details
Link to this fact

Identity

Project
Ghanie
Commodity
gold
Ticker
GTWO

Resource Data

Category
inferred
Tonnes
7409000
Grade
4.72
Grade Unit
g/t
Contained Metal
1123300
Contained Unit
oz
Cutoff Grade
1.21

Review

Needs Review
No
Historical
No

Dates

Event date
2025-12-18T00:00:00.000Z

Reasoning: This large inferred underground resource for Ghanie significantly boosts the project's total contained gold, indicating substantial future potential.

Positive factors

  • high_grade_underground_component
  • ni_43_101_compliant
  • qp_signed

Negative factors

  • inferred_resource

Evidence · table

“4.72”

Context: 7,409,000

indicatedGhanie · goldTonnes: 7638000Grade: 2.49Grade Unit: g/tContained Metal: 611100Contained Unit: ozView all details
Link to this fact

Identity

Project
Ghanie
Commodity
gold
Ticker
GTWO

Resource Data

Category
indicated
Tonnes
7638000
Grade
2.49
Grade Unit
g/t
Contained Metal
611100
Contained Unit
oz
Cutoff Grade
0.23

Review

Needs Review
No
Historical
No

Dates

Event date
2025-12-18T00:00:00.000Z

Reasoning: This combined indicated resource for Ghanie is a substantial contributor to the project's higher-confidence gold inventory.

Positive factors

  • indicated_resource
  • ni_43_101_compliant
  • qp_signed

Evidence · table

“2.49”

Context: 7,638,000

inferredGhanie · goldTonnes: 11537000Grade: 3.39Grade Unit: g/tContained Metal: 1257100Contained Unit: ozView all details
Link to this fact

Identity

Project
Ghanie
Commodity
gold
Ticker
GTWO

Resource Data

Category
inferred
Tonnes
11537000
Grade
3.39
Grade Unit
g/t
Contained Metal
1257100
Contained Unit
oz
Cutoff Grade
0.23

Review

Needs Review
No
Historical
No

Dates

Event date
2025-12-18T00:00:00.000Z

Reasoning: This large combined inferred resource for Ghanie significantly increases the project's total contained gold, indicating strong exploration upside.

Positive factors

  • ni_43_101_compliant
  • qp_signed

Negative factors

  • inferred_resource

Evidence · table

“3.39”

Context: 11,537,000

indicatedNew Oko Discovery · goldTonnes: 5090000Grade: 1.18Grade Unit: g/tContained Metal: 193800Contained Unit: ozView all details
Link to this fact

Identity

Project
New Oko Discovery
Commodity
gold
Ticker
GTWO

Resource Data

Category
indicated
Tonnes
5090000
Grade
1.18
Grade Unit
g/t
Contained Metal
193800
Contained Unit
oz
Cutoff Grade
0.23

Review

Needs Review
No
Historical
No

Dates

Event date
2025-12-18T00:00:00.000Z

Reasoning: This indicated open pit resource for the New Oko Discovery adds to the project's overall indicated ounces.

Positive factors

  • indicated_resource
  • ni_43_101_compliant
  • qp_signed

Evidence · table

“1.18”

Context: 5,090,000

inferredNew Oko Discovery · goldTonnes: 1269400Grade: 0.88Grade Unit: g/tContained Metal: 36100Contained Unit: ozView all details
Link to this fact

Identity

Project
New Oko Discovery
Commodity
gold
Ticker
GTWO

Resource Data

Category
inferred
Tonnes
1269400
Grade
0.88
Grade Unit
g/t
Contained Metal
36100
Contained Unit
oz
Cutoff Grade
0.23

Review

Needs Review
No
Historical
No

Dates

Event date
2025-12-18T00:00:00.000Z

Reasoning: This inferred open pit resource for the New Oko Discovery is a smaller contribution to the overall resource with lower confidence.

Positive factors

  • ni_43_101_compliant
  • qp_signed

Negative factors

  • inferred_resource

Evidence · table

“0.88”

Context: 1,269,400

indicatedNew Oko Discovery · goldTonnes: 18000Grade: 1.9Grade Unit: g/tContained Metal: 1100Contained Unit: ozView all details
Link to this fact

Identity

Project
New Oko Discovery
Commodity
gold
Ticker
GTWO

Resource Data

Category
indicated
Tonnes
18000
Grade
1.9
Grade Unit
g/t
Contained Metal
1100
Contained Unit
oz
Cutoff Grade
1.21

Review

Needs Review
No
Historical
No

Dates

Event date
2025-12-18T00:00:00.000Z

Reasoning: This is a very small indicated underground resource for the New Oko Discovery, contributing minimally to the overall project.

Positive factors

  • indicated_resource
  • ni_43_101_compliant
  • qp_signed

Evidence · table

“1.90”

Context: 18,000

inferredNew Oko Discovery · goldTonnes: 590000Grade: 2.05Grade Unit: g/tContained Metal: 38900Contained Unit: ozView all details
Link to this fact

Identity

Project
New Oko Discovery
Commodity
gold
Ticker
GTWO

Resource Data

Category
inferred
Tonnes
590000
Grade
2.05
Grade Unit
g/t
Contained Metal
38900
Contained Unit
oz
Cutoff Grade
1.21

Review

Needs Review
No
Historical
No

Dates

Event date
2025-12-18T00:00:00.000Z

Reasoning: This inferred underground resource for the New Oko Discovery adds to the project's potential but with lower confidence.

Positive factors

  • ni_43_101_compliant
  • qp_signed

Negative factors

  • inferred_resource

Evidence · table

“2.05”

Context: 590,000

indicatedNew Oko Discovery · goldTonnes: 5108000Grade: 1.19Grade Unit: g/tContained Metal: 194900Contained Unit: ozView all details
Link to this fact

Identity

Project
New Oko Discovery
Commodity
gold
Ticker
GTWO

Resource Data

Category
indicated
Tonnes
5108000
Grade
1.19
Grade Unit
g/t
Contained Metal
194900
Contained Unit
oz
Cutoff Grade
0.23

Review

Needs Review
No
Historical
No

Dates

Event date
2025-12-18T00:00:00.000Z

Reasoning: This combined indicated resource for the New Oko Discovery contributes to the project's overall indicated ounces.

Positive factors

  • indicated_resource
  • ni_43_101_compliant
  • qp_signed

Evidence · table

“1.19”

Context: 5,108,000

inferredNew Oko Discovery · goldTonnes: 1859000Grade: 1.25Grade Unit: g/tContained Metal: 75000Contained Unit: ozView all details
Link to this fact

Identity

Project
New Oko Discovery
Commodity
gold
Ticker
GTWO

Resource Data

Category
inferred
Tonnes
1859000
Grade
1.25
Grade Unit
g/t
Contained Metal
75000
Contained Unit
oz
Cutoff Grade
0.23

Review

Needs Review
No
Historical
No

Dates

Event date
2025-12-18T00:00:00.000Z

Reasoning: This combined inferred resource for the New Oko Discovery adds to the project's potential but with lower confidence and grade.

Positive factors

  • ni_43_101_compliant
  • qp_signed

Negative factors

  • inferred_resource

Evidence · table

“1.25”

Context: 1,859,000

inferredOko N · goldTonnes: 1293000Grade: 0.78Grade Unit: g/tContained Metal: 32500Contained Unit: ozView all details
Link to this fact

Identity

Project
Oko N
Commodity
gold
Ticker
GTWO

Resource Data

Category
inferred
Tonnes
1293000
Grade
0.78
Grade Unit
g/t
Contained Metal
32500
Contained Unit
oz
Cutoff Grade
0.23

Review

Needs Review
No
Historical
No

Dates

Event date
2025-12-18T00:00:00.000Z

Reasoning: This inferred open pit resource for Oko N is a smaller, lower-grade contribution to the overall resource with lower confidence.

Positive factors

  • ni_43_101_compliant
  • qp_signed

Negative factors

  • inferred_resource
  • low_grade

Evidence · table

“0.78”

Context: 1,293,000

inferredOko NW · goldTonnes: 374000Grade: 0.94Grade Unit: g/tContained Metal: 11300Contained Unit: ozView all details
Link to this fact

Identity

Project
Oko NW
Commodity
gold
Ticker
GTWO

Resource Data

Category
inferred
Tonnes
374000
Grade
0.94
Grade Unit
g/t
Contained Metal
11300
Contained Unit
oz
Cutoff Grade
0.23

Review

Needs Review
No
Historical
No

Dates

Event date
2025-12-18T00:00:00.000Z

Reasoning: This inferred open pit resource for Oko NW is a small, lower-grade contribution to the overall resource with lower confidence.

Positive factors

  • ni_43_101_compliant
  • qp_signed

Negative factors

  • inferred_resource
  • low_grade

Evidence · table

“0.94”

Context: 374,000

indicatedEntire Oko Project · goldTonnes: 15571000Grade: 3.24Grade Unit: g/tContained Metal: 1620600Contained Unit: ozView all details
Link to this fact

Identity

Project
Entire Oko Project
Commodity
gold
Ticker
GTWO

Resource Data

Category
indicated
Tonnes
15571000
Grade
3.24
Grade Unit
g/t
Contained Metal
1620600
Contained Unit
oz
Cutoff Grade
0.23

Review

Needs Review
No
Historical
No

Dates

Event date
2025-12-18T00:00:00.000Z

Reasoning: The overall indicated resource for the entire Oko Project is substantial, providing a strong foundation for the PEA.

Positive factors

  • indicated_resource
  • ni_43_101_compliant
  • qp_signed
  • significant_contained_metal

Evidence · table

“3.24”

Context: 15,571,000

inferredEntire Oko Project · goldTonnes: 17970000Grade: 3.31Grade Unit: g/tContained Metal: 1910300Contained Unit: ozView all details
Link to this fact

Identity

Project
Entire Oko Project
Commodity
gold
Ticker
GTWO

Resource Data

Category
inferred
Tonnes
17970000
Grade
3.31
Grade Unit
g/t
Contained Metal
1910300
Contained Unit
oz
Cutoff Grade
0.23

Review

Needs Review
No
Historical
No

Dates

Event date
2025-12-18T00:00:00.000Z

Reasoning: The overall inferred resource for the entire Oko Project is substantial, indicating significant exploration upside, though with lower confidence.

Positive factors

  • ni_43_101_compliant
  • qp_signed
  • significant_contained_metal

Negative factors

  • inferred_resource

Evidence · table

“3.31”

Context: 17,970,000

Fact 23Oko Gold Project · goldView all details
Link to this fact

Identity

Project
Oko Gold Project
Commodity
gold
Ticker
GTWO

Review

Needs Review
No
Historical
No

Dates

Event date
2025-12-18T00:00:00.000Z

Reasoning: High gold recovery from saprolite material using a conventional CIL circuit is a positive indicator for processing this ore type.

Positive factors

  • high_recovery
  • mill_route

Evidence · table

“93.3”

Context: Saprolite

Fact 24Oko Gold Project · goldView all details
Link to this fact

Identity

Project
Oko Gold Project
Commodity
gold
Ticker
GTWO

Review

Needs Review
No
Historical
No

Dates

Event date
2025-12-18T00:00:00.000Z

Reasoning: Excellent gold recovery from fresh rock material using a conventional CIL circuit, indicating favorable metallurgy for the primary ore type.

Positive factors

  • high_recovery
  • mill_route

Evidence · table

“94.1”

Context: Fresh Rock

Fact 25Oko Gold Project · goldView all details
Link to this fact

Identity

Project
Oko Gold Project
Commodity
gold
Ticker
GTWO

Review

Needs Review
No
Historical
No

Dates

Event date
2025-12-18T00:00:00.000Z

Reasoning: The overall life-of-mine gold recovery of 94% is very strong for a conventional CIL circuit, significantly contributing to positive project economics.

Positive factors

  • high_recovery
  • mill_route

Evidence · table

“94.0”

Context: Total (LOM)

How Atlas produces this analysis

Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.