(Aaron Simonsky, Energy Analytics Institute, 20.Dec.2024) — G Mining Ventures Corp. closed the acquisition of tenements in the Gurupi Gold Belt from wholly owned subsidiaries of BHP Group Limited.
The acquisition gives G Mining an 100% interest in the tenements, including the CentroGold Project, G Mining announced 20 Dec. 2024 in an official statement.
In consideration for the acquisition, G Mining will grant BHP a 1.0% NSR royalty on the first 1mn ounces of gold produced at the tenements and a 1.5% NSR royalty on gold production thereafter.
CentroGold is located in the state of Maranhão, located in northern Brazil, and comprises 47 tenements encompassing ~1,900km2. The project hosts multiple identified gold targets along a +80km mineralized trend, including the Blanket, Contact and Chega Tudo open pit deposits, which currently host 2.3mn ounces of JORC-compliant gold resources and remain open for expansion.
In Jul. 2019, Oz Minerals Limited, which was later acquired by BHP in 2023, released a pre-feasibility study on the Blanket and Contact deposits. The pre-feasibility study envisioned a 10-year mine life with an average annual gold production of 100,000-120,000 ounces per year, with 190,000-210,000 ounces of gold per year in the first two years of production.
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By Aaron Simonsky reporting from Belize City. © Energy Analytics Institute (EAI). All Rights Reserved.
