Tajiri Enters Agreement to Exclusively Negotiate Acquisition of the Yono Gold Property, Contiguous to G2 Goldfields & Reunion Gold's ~7.9 Moz(1) Oko and Oko West discoveries, Guyana, South America
VANCOUVER, BC, April 4, 2024 /CNW/ - Tajiri Resources Corp. (the "Company") (TSXV: TAJ) is pleased to announce that it has entered into an agreement, with a duration of three months, to exclusively negotiate terms for the acquisition of up to an 100% interest in the strategically located, 1.5 x 1 kilometre Yono Property, Guyana, South America.
Yono is located centrally within and surrounded by the Oko and Oko West Projects of G2 Goldfields Inc. (TSXV: GTWO) ("G2") and Reunion Gold Corporation (TSV: RGD) ("Reunion") (Figure 1). These projects are arguably amongst the best growing, contemporary gold discoveries with G2 recently attracting a 35% premium above market placement of CDN$22.05M, from the world's fourth largest gold producer Anglo Ashanti2 and Reunion winning the 2022 Mines and Money "Exploration Discovery of the Year" Award.3
In relation to features of the Oko and Oko West Projects as reported in NI 43-101 reports commissioned by both G2 and Reunion the Yono Property is:
- 90m from the northern end of the pit shell (USD1,900 Gold Price) used to constrain open pit Indicated and Inferred ("I+I") resources totaling 4.73Moz Au within Reunion's Oko West Project.
- 600 metres south-southwest of G2's Oko Main Zone with I+I Resources at a 4g/t cutoff of 1.2Moz @ 9.13g/t Au.
- 260 metres west of the Ghanie at its Southern end where G2 has declared maiden I+I Open Pit and underground resources of 840,000 oz Au @ 1.68 g/t. The portion of Open Pit constrained resources is contained within an Open pit up to ~ 250m deep.
These resources and features are illustrated in Figure 2.4
In addition to its proximity to the surrounding third party drilled prospects and resources, Yono appears independently prospective for gold for the following reasons:
- Artisanal alluvial and colluvial workings are present and source from within Yono (Figure 2);
- Preliminary reconnaissance samples from Yono show visible gold with one grab sample out 14 (Figure 3) and 3 out of 5 pan concentrate samples exhibiting visible gold;
- Yono appears to occupy the core of a large F2? fold. This structure is inferred on the basis of limited mapping of lithologies and structural measurements together with topographic trends. A mapped S2? foliation within Yono trends ~ 006° – 0012° while in the west of Yono measured primary layering and lithologies trend 036°- 045° and in the east of the property lithologies and measured primary layering trends 348°-358° (Figures 2 & 4);
- Given gold mineralization at the Oko Main Zone has been variously described by G2 as occupying axial planar shears and or being hosted at the intersection of late north-south trending shear zones with northeast trending and plunging folds, the geological setting of Yono may be favourable to host similarly fold controlled gold mineralization.
Reporting of the results and details of reconnaissance grab and stream sediment samples is expected to be made within the next two weeks.
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1 April 3, 2024, G2 Goldfields (TSXV-GTWO) reported a NI 43-101 compliant Indicated & Inferred Resources at Oko Main Zone of 0.686Moz @ 9.03g/t Au & 0.495Moz @ 6.38g/t Au respectively and I&I Resources at Ghanie of 0.236Moz @ 2.2g/t & 0.604Moz @ 1.54 g/t Au |
February 26, 2024, Reunion Gold (TSXV: RGD) reported an NI 43-101 compliant Indicated & Inferred resource of 4.266Moz @ 2.05g/t Au & 1.603Moz @ 2.59g/t Au respectively. |
3 https://minesandmoney.com/news/articles/a-glittering-gala-awards-dinner |
4 Tajiri notes that it has no interest whatsoever in either the Oko or Oko West Projects or resources contained within those properties and furthermore that it has not independently verified the information as reported in the NI 43-101 technical reports of G2 and Reunion and is relying solely upon the opinions of third parties. |
Tajiri's Guyana subsidiary Protean Mining Inc. executed an exclusivity agreement with the Vendor on April 3rd, 2024. The Vendor, a Guyana registered company (of which two directors of Tajiri are indirect shareholders) have agreed to grant Tajiri a period of 3 months in which to exclusively negotiate terms to acquire an interest in the property. During the 3-month period the Vendor will not seek to encumber or deal the property in any way to any third party and Tajiri may undertake due diligence sampling and other investigations but is required to share the results of such studies with the Vendor. Tajiri's interest may take the form of an option, outright acquisition or a joint venture earn in agreement. The Exclusivity period was given for a notional consideration of US$1.00 (one United States Dollar).
The Yono Property, though early stage with has a great address central to a rapidly expanding 7.9Moz gold district. We look forward to the arms-length directors of the Company negotiating an acquisition of Yono with the Vendor for the benefit of all our shareholders.
Link to accompanying figures:
https://tajirigold.com/wp-content/uploads/2024/04/Figures-for-News-Release-April-04-2024.pdf
The Qualified Person under National Instrument 43-101 - Standards of Disclosure for Mineral Projects for this news release is Dominic O'Sullivan a geologist, member of the AusIMM, Executive Chairman of Tajiri who has reviewed and approved its contents.
On Behalf of the Board,
Tajiri Resources Corp.
Graham Keevil,
President & CEO
Tajiri Resources Corp. is a junior gold exploration and development Company with exploration assets located in two of the worlds least explored and highly prolific greenstone belts of Burkina Faso, West Africa and Guyana, South America. Lead by a team of industry professionals with a combined 100 plus years' experience the Company continues to generate shareholder value through exploration.
SOURCE Tajiri Resources Corp.
Tajiri Resources Corp., Graham Keevil, President, CEO, 778.229.9602, [email protected], www.tajirigold.com
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