# G2 Goldfields Files Technical Report for PEA and Updated MRE for the High-Grade Oko Gold Project Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/g2-goldfields-files-technical-report-for-pea-and-updated-mre-for-the-high-grade--9f32d717-54b7-4d37-bbd2-8261924fec84 Original source: https://money.tmx.com/en/quote/GTWO/news/7189568704956850/g2-goldfields-files-technical-report-for-pea-and-updated-mre-for-the-high-grade- Publisher: tmx Original announcement: 2026-02-02T12:09:16.000Z Analysis by Minestarters Atlas Atlas analysis published: Unknown date Atlas analysis updated: Unknown date - Company: G2 Goldfields Inc. - Ticker: GTWO - Exchange: TSX - Region: Guyana - Primary commodity: Gold - Secondary commodities: None reported - Document categories: Resource update, Other - Extracted: 2026-08-25 14:45:23 UTC Narrative sentiment: 0.80 · Bullish ## Minestarters Atlas summary G2 Goldfields has filed a technical report for a Preliminary Economic Assessment \(PEA\) and an updated Mineral Resource Estimate \(MRE\) for its Oko Gold Project in Guyana. The PEA highlights robust economics with an after-tax NPV5% of $2.5 billion and an IRR of 38% at $3,000/oz Au, underpinned by an updated MRE of 1.6 Moz Au Indicated at 3.24 g/t Au and 1.9 Moz Au Inferred at 3.31 g/t Au. The study projects a 14-year mine life with average annual gold production of 282,000 ounces at an AISC of $1,175/oz Au \(years 2-11\). Reasoning: G2 Goldfields has filed a technical report for a Preliminary Economic Assessment \(PEA\) and an updated Mineral Resource Estimate \(MRE\) for its Oko Gold Project. The PEA demonstrates robust economics with a high after-tax NPV5% and IRR, supported by significant high-grade Indicated and Inferred gold resources and high recovery projections. However, the preliminary nature of the PEA and its reliance on speculative Inferred resources, along with undisclosed resource cut-off grades, introduce some risk. - Positive factor: robust\_economics - Positive factor: significant\_gold\_resource - Positive factor: high\_grade - Positive factor: high\_recovery - Positive factor: low\_aisc - Positive factor: fast\_payback - Positive factor: qp\_signed - Positive factor: ni\_43\_101\_compliant - Negative factor: preliminary\_study - Negative factor: reliance\_on\_inferred\_resources - Negative factor: cutoff\_undisclosed Low confidence — this extraction should be reviewed alongside the original source. Facts used in scoring: 9 ## Classification and evidence **QP/CP Signed** Polarity: positive Definition: 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 are named and have reviewed and approved the scientific and technical disclosure in the news release. Evidence · text > Each of the aforementioned persons is considered a “Qualified Person” for the purposes of NI 43-101 and has reviewed and approved the scientific and technical disclosure contained in this news release. **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: The technical report is explicitly titled 'NI 43-101 Technical Report'. Evidence · text > independent technical report entitled “NI 43-101 Technical Report for the Preliminary Economic Assessment \(PEA\) on the Oko Gold Project **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: The document announces an 'updated mineral resource estimate'. Evidence · text > an updated mineral resource estimate \(“ MRE ”\) **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: The MRE includes 1.6 Moz Au at 3.24 g/t Au in the Indicated category. Evidence · text > 1.6 Moz Au at 3.24 g/t Au \(Indicated\) **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: The MRE includes 1.9 Moz Au at 3.31 g/t Au in the Inferred category. Evidence · text > 1.9 Moz Au at 3.31 g/t Au \(Inferred\) **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: The resource estimate is prepared to support a Preliminary Economic Assessment. Evidence · text > Technical Report for the Preliminary Economic Assessment \(PEA\) and an updated mineral resource estimate \(“ MRE ”\) **High Recovery** Polarity: positive Story-specific tag Definition: Recovery at or above the exceptional band for the commodity and processing route. Why it applies: The PEA projects a gold recovery of 94%, which is strong for a mill route. Evidence · table > 94% Context: Gold Recovery **High Grade** Polarity: positive Story-specific tag Definition: No canonical definition is currently available. Why it applies: The MRE reports Indicated grades of 3.24 g/t Au and Inferred grades of 3.31 g/t Au, which are considered high-grade for a mixed open pit and underground operation. Evidence · text > 1.6 Moz Au at 3.24 g/t Au \(Indicated\) and 1.9 Moz Au at 3.31 g/t Au \(Inferred\) **Robust Economics** Polarity: positive Story-specific tag Definition: No canonical definition is currently available. Why it applies: The PEA shows strong financial metrics including an after-tax NPV5% of $2.5 billion and an IRR of 38%. Evidence · text > After-tax NPV5% of $2.5 billion, IRR of 38% and payback of 2.7 years at $3,000/oz Au \(Base Case\). **Preliminary Study** Polarity: negative Story-specific tag Definition: No canonical definition is currently available. Why it applies: The document explicitly states that 'The PEA is preliminary in nature and includes Inferred mineral resources that are considered too speculative geologically'. Evidence · text > The PEA is preliminary in nature and includes Inferred mineral resources that are considered too speculative geologically **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: The document does not explicitly state the cut-off grade used for the mineral resource estimate. Evidence · text > For more information in respect of the Oko Project, including with respect to key assumptions, parameters, and methods used to estimate the MRE ## Extracted facts Stored fact records: 9. Some facts used in scoring do not have a stored record. ## Resource Estimates (9) ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/g2-goldfields-files-technical-report-for-pea-and-updated-mre-for-the-high-grade--9f32d717-54b7-4d37-bbd2-8261924fec84#fact-resource-facts-0) Oko Gold Project · gold #### Identity - Project: Oko Gold Project - Commodity: gold - Region: guyana - Reported Region: Guyana - Ticker: GTWO #### Resource Data - Category: indicated - Tonnes: 15571000 - Grade: 3.24 - Grade Unit: g/t - Contained Metal: 1620600 - Contained Unit: oz #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-02-02T00:00:00.000Z Reasoning: The Indicated resource shows a significant amount of high-grade gold, providing a strong foundation for the project's economics, with moderate M&I confidence. - Positive factor: significant\_tonnage - Positive factor: high\_grade - Positive factor: category\_indicated - Positive factor: qp\_signed - Positive factor: ni\_43\_101\_compliant - Positive factor: moderate\_mi\_confidence - Negative factor: cutoff\_undisclosed Evidence · text > 1,620,600 oz. Au – Indicated contained within 15,571,000 tonnes @ 3.24 g/t Au ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/g2-goldfields-files-technical-report-for-pea-and-updated-mre-for-the-high-grade--9f32d717-54b7-4d37-bbd2-8261924fec84#fact-resource-facts-1) Oko Gold Project · gold #### Identity - Project: Oko Gold Project - Commodity: gold - Region: guyana - Reported Region: Guyana - Ticker: GTWO #### Resource Data - Category: inferred - Tonnes: 17970000 - Grade: 3.31 - Grade Unit: g/t - Contained Metal: 1910300 - Contained Unit: oz #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-02-02T00:00:00.000Z Reasoning: The Inferred resource adds significant gold ounces to the project, indicating future potential, though it is a less confident category and the cut-off grade is not disclosed. - Positive factor: significant\_tonnage - Positive factor: high\_grade - Positive factor: qp\_signed - Positive factor: ni\_43\_101\_compliant - Negative factor: category\_inferred - Negative factor: cutoff\_undisclosed Evidence · text > 1,910,300 oz. Au – Inferred contained within 17,970,000 tonnes @ 3.31 g/t Au ### Fact 3 [Link to this fact](https://atlas-staging.minestarters.com/news/g2-goldfields-files-technical-report-for-pea-and-updated-mre-for-the-high-grade--9f32d717-54b7-4d37-bbd2-8261924fec84#fact-resource-facts-2) Oko Gold Project · gold #### Identity - Project: Oko Gold Project - Commodity: gold - Region: guyana - Reported Region: Guyana - Ticker: GTWO #### Resource Data - Grade: 2.39 - Grade Unit: g/t #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-02-02T00:00:00.000Z Reasoning: The projected head grade is strong, contributing positively to the project's economics, but is part of a preliminary study relying on speculative resources. - Positive factor: high\_grade - Negative factor: preliminary\_study - Negative factor: reliance\_on\_inferred\_resources Evidence · table > 2.39 g/t Au Context: Gold Head Grade ### Fact 4 [Link to this fact](https://atlas-staging.minestarters.com/news/g2-goldfields-files-technical-report-for-pea-and-updated-mre-for-the-high-grade--9f32d717-54b7-4d37-bbd2-8261924fec84#fact-resource-facts-3) Oko Gold Project · gold #### Identity - Project: Oko Gold Project - Commodity: gold - Region: guyana - Reported Region: Guyana - Ticker: GTWO #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-02-02T00:00:00.000Z Reasoning: The projected gold recovery is very high, indicating efficient processing and strong project economics, but is part of a preliminary study relying on speculative resources. - Positive factor: high\_recovery - Negative factor: preliminary\_study - Negative factor: reliance\_on\_inferred\_resources Evidence · table > 94% Context: Gold Recovery ### Fact 5 [Link to this fact](https://atlas-staging.minestarters.com/news/g2-goldfields-files-technical-report-for-pea-and-updated-mre-for-the-high-grade--9f32d717-54b7-4d37-bbd2-8261924fec84#fact-resource-facts-4) Oko Gold Project #### Identity - Project: Oko Gold Project - Region: guyana - Reported Region: Guyana - Ticker: GTWO #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-02-02T00:00:00.000Z Reasoning: The after-tax NPV5% of $2.479 billion indicates very strong project economics, though it is from a preliminary study relying on speculative resources. - Positive factor: high\_npv - Negative factor: preliminary\_study - Negative factor: reliance\_on\_inferred\_resources Evidence · table > $2,479M Context: After-Tax NPV5% ### Fact 6 [Link to this fact](https://atlas-staging.minestarters.com/news/g2-goldfields-files-technical-report-for-pea-and-updated-mre-for-the-high-grade--9f32d717-54b7-4d37-bbd2-8261924fec84#fact-resource-facts-5) Oko Gold Project #### Identity - Project: Oko Gold Project - Region: guyana - Reported Region: Guyana - Ticker: GTWO #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-02-02T00:00:00.000Z Reasoning: The after-tax IRR of 38% demonstrates a highly attractive return on investment for the project, though it is from a preliminary study relying on speculative resources. - Positive factor: high\_irr - Negative factor: preliminary\_study - Negative factor: reliance\_on\_inferred\_resources Evidence · table > 38% Context: After-Tax IRR ### Fact 7 [Link to this fact](https://atlas-staging.minestarters.com/news/g2-goldfields-files-technical-report-for-pea-and-updated-mre-for-the-high-grade--9f32d717-54b7-4d37-bbd2-8261924fec84#fact-resource-facts-6) Oko Gold Project #### Identity - Project: Oko Gold Project - Region: guyana - Reported Region: Guyana - Ticker: GTWO #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-02-02T00:00:00.000Z Reasoning: The initial capital expenditure is a significant but manageable cost for a project of this scale, but is part of a preliminary study relying on speculative resources. - Negative factor: preliminary\_study - Negative factor: reliance\_on\_inferred\_resources Evidence · table > $664M Context: Initial Capital \(Includes 20% Contingency\) ### Fact 8 [Link to this fact](https://atlas-staging.minestarters.com/news/g2-goldfields-files-technical-report-for-pea-and-updated-mre-for-the-high-grade--9f32d717-54b7-4d37-bbd2-8261924fec84#fact-resource-facts-7) Oko Gold Project · gold #### Identity - Project: Oko Gold Project - Commodity: gold - Region: guyana - Reported Region: Guyana - Ticker: GTWO #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-02-02T00:00:00.000Z Reasoning: The projected average all-in sustaining cost is competitive, indicating strong operating margins, but is part of a preliminary study relying on speculative resources. - Positive factor: low\_aisc - Negative factor: preliminary\_study - Negative factor: reliance\_on\_inferred\_resources Evidence · table > $1,232/oz Context: Average All-In Sustaining Cost \(“ AISC ”\) ### Fact 9 [Link to this fact](https://atlas-staging.minestarters.com/news/g2-goldfields-files-technical-report-for-pea-and-updated-mre-for-the-high-grade--9f32d717-54b7-4d37-bbd2-8261924fec84#fact-resource-facts-8) Oko Gold Project #### Identity - Project: Oko Gold Project - Region: guyana - Reported Region: Guyana - Ticker: GTWO #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-02-02T00:00:00.000Z Reasoning: The fast payback period of 2.7 years indicates rapid capital recovery and reduced investment risk, but is part of a preliminary study relying on speculative resources. - Positive factor: fast\_payback - Negative factor: preliminary\_study - Negative factor: reliance\_on\_inferred\_resources Evidence · table > 2.7 years Context: Payback ## 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.