Located to the southwest of G2’s Oko-Aremu property, the Peters Mine and Jubilee Mine areas have a long history of production dating back to the turn of the 20th century. The Peters Mine was Guyana’s first gold mine which was discovered in 1903 and commenced production in 1905. Between 1905 and 1910, the Peters Mine produced over 41,000 oz of gold with mill head grades in excess of 1 oz/t. The majority of the production occurred above the 200 ft level presenting an excellent opportunity to discover additional high-grade mineralization below the previously mined areas. More recent work in the 1990s returned significant gold intersections further supporting the potential for new high-grade gold discoveries at the historic Peters Mine. A 6-hole drill program is planned early next year to validate the company’s geological model, as well as test mineralization to a vertical depth of 500 m. G2 is also planning to undertake an extensive mapping and sampling program aimed at generating new drill targets.
The historic Jubilee Mine is located ~4 km southeast of the Peters Mine property. Historical records indicate that in 1907 a vertical shaft was sunk and approximately 1,000 ft of lateral workings were completed on the property; however, no production was recorded. Despite the evidence of production, the property has never been drilled. However, soil sampling and grab samples have returned values of up to 9.3 oz/t Au, indicating the presence of a high-grade gold system on the property. The Jubilee property is currently being mined by small-scale miners in an open-pit, further demonstrating the presence of economic gold mineralization on the property. G2 is planning a maiden drill program consisting of 6 holes later in Q2/22 to target the high-grade vein system at the Jubilee shaft area.
