(Kaieteur News) – As more than 10 Canadian firms advance gold projects across mining districts in Guyana, a second Australian company has secured a major foothold in the Oko gold district, where more than nine-million-ounces of gold have been established.

Australian-listed Liberty Metals Ltd has entered into a binding four-year option agreement with a private Guyanese vendor (name not disclosed) to acquire 90% interest in the Oko North and Oko South Gold Projects, a package of 40 granted medium-scale mining permits covering approximately 44,288 acres, or 180 square kilometres, in the Cuyuni Mining District of Region Seven.

Liberty’s land package is spread across two consolidated blocks located about 60 kilometres apart and sits within the Oko gold district – which the company describes as one of the world’s premier emerging gold camps. Notably, the 180-square-kilometre area is roughly five times the size of Georgetown and is approximately six times the size of Leguan.