G Mining Ventures Corp. (GMIN) has taken a significant step towards expanding its gold portfolio by acquiring the CentroGold Project from BHP Group Limited. The acquisition, which involves a 1.0% NSR royalty on the first 1 million ounces of gold produced and 1.5% thereafter, grants GMIN access to a promising gold resource in Brazil’s Gurupi Gold Belt.
Located in the state of Maranhão, CentroGold boasts an impressive 1.7 million ounces of indicated and 0.6 million ounces of inferred JORC-compliant gold resource. This resource is spread across three open pit deposits – Blanket, Contact, and Chega Tudo – and is open for expansion in all directions and at depth.
The project encompasses a vast land package of approximately 1,900 square kilometers, offering ample potential for multiple new gold discoveries. This expansive land package, covering 80 km of mineralized trend, represents a significant opportunity for GMIN to leverage its expertise and expand its presence in the region.
GMIN intends to build on the existing geological model, redesign the project from the ground up, and align it with contemporary permitting requirements and economic conditions. This strategic approach will ensure the project’s long-term viability and aligns with GMIN’s objective of maximizing value for all stakeholders.
The acquisition of CentroGold complements GMIN’s existing portfolio, which includes the Tocantinzinho Gold Mine in Brazil and the Oko West Gold Project in Guyana. This strategic alignment positions GMIN for significant long-term growth.
GMIN’s CEO, Louis-Pierre Gignac, expressed enthusiasm for the acquisition, highlighting the project’s attractive starting resource base and significant exploration upside. He believes that CentroGold will contribute to building a high-quality portfolio of gold assets, ultimately creating value for GMIN’s shareholders.
The acquisition, subject to customary closing conditions, is expected to close in the first quarter of 2025. This acquisition marks another milestone in GMIN’s growth trajectory, reinforcing its commitment to expanding its gold resource base and solidifying its position as a leading player in the mining sector.
