Liberty Metals eyes Guyana gold expansion

(Kaieteur News) – Australian mining company Liberty Metals is seeking to deepen its focus on Guyana’s gold sector, announcing plans to change its name to El Dorado Goldfields Ltd. just weeks after acquiring a majority interest in two major gold projects in Region Seven spanning over 44,000 acres.

On 12th August, Liberty announced that it had acquired a 90% interest in the Oko North and Oko South Gold Projects, a package of 40 granted medium-scale mining permits covering approximately 180 square kilometres (km²) or 44, 479 acres in Guyana’s Oko gold district, Region Seven (Cuyuni-Mazaruni) – an area where nine million ounces of gold have already been established by other foreign players.

In its half-year report, Liberty’s Chairman, Nicholas Katris, disclosed that the proposed name change is subject to shareholder approval at the company’s General Meeting in October. “The change reflects the Company’s focus on the Oko North and Oko South Projects in Guyana’s Oko gold district and our intention to continue growing a quality gold portfolio. Our Brazilian critical minerals projects remain with us and under active assessment,” he said.