Liberty Metals Secures 90% Option on 180km2 in Guyana’s +9Moz Oko Gold District

Liberty Metals Acquires Large Gold Footprint in Emerging Guyana District

Liberty Metals Ltd (ASX:LIB) has secured a commanding position in one of the world’s most exciting new gold camps, the Oko district in Guyana, by executing a binding four-year option to acquire a 90% interest in the Oko North and Oko South projects. The combined tenure covers approximately 44,288 acres (~180km2) across 40 granted mining permits, making it one of the largest contiguous land packages assembled in the district.

The Oko district has rapidly emerged as a globally significant gold province, with a combined resource endowment exceeding 9 million ounces of gold delineated in less than five years. Liberty’s new projects sit immediately adjacent to G Mining Ventures’ (TSX: GMIN) holdings, which include the Oko West and Oko-Ghanie deposits with measured and indicated resources totaling 7 million ounces and inferred resources of 2.3 million ounces. GMIN’s market capitalisation of approximately CA$14.9 billion (~US$10.7 billion) underscores the scale and value of the district.

Strategic Location and Geological Potential

The Oko North block directly abuts G2 Goldfields’ former ground, now consolidated into GMIN, close to the New Oko discovery, while Oko South covers the southern extension of the mineralised trend, approximately 30km south of the established Oko deposits. Both blocks lie within the Barama-Mazaruni greenstone belt of the Guiana Shield, a geological extension of the Birimian Greenstone Belt known for hosting world-class gold camps in West Africa.

Despite the district’s recent surge in exploration success, Liberty notes that its tenure has never been systematically explored with modern techniques. Historical activity has been limited to small-scale alluvial mining, which Liberty interprets as evidence of a fertile gold system awaiting hard rock discovery at depth.

Transaction Terms and Funding

The acquisition is structured as a four-year option agreement with staged payments totalling approximately US$8 million, heavily back-ended to the third and fourth years. A milestone payment is also payable upon completion of a bankable feasibility study, calculated per economically feasible ounce of gold delineated, with escalating rates tied to gold prices. Liberty cautions that no mineral resources or reserves have yet been estimated on its tenure, and the milestone payment is contingent on future success and financing options.

To fund the initial exploration and development activities, Liberty has secured firm commitments for a A$5 million placement at A$0.0025 per share, representing an 11.3% discount to the recent volume-weighted average price. The placement was led by a cornerstone group of domestic and international institutional investors and will be issued in two tranches, with a portion subject to shareholder approval.

Exploration Plans and Next Steps

Liberty plans to commence immediate data compilation, geological mapping, and a maiden geochemical sampling program, including soil sampling and trenching, to define drill targets. The company anticipates beginning fieldwork in the coming weeks, progressing towards a maiden drilling campaign. Liberty’s management emphasises a disciplined and methodical approach, leveraging the proven potential of the district and the proximity to high-grade discoveries by GMIN and others.

Guyana’s political stability, pro-mining stance, and ranking as the 9th most attractive mining jurisdiction globally by the Fraser Institute further support the investment thesis. The rarity of assembling such a large contiguous landholding in Guyana, where permits are typically fragmented among private holders, adds strategic value to Liberty’s position.