G3 Goldfields: Dan Noone Begins the Next Chapter in Guyana

Trevor Hall (0:17)

All right, so we're, actually I'm going to treat this interview as more of a company introduction, although our guest is no stranger to the podcast.

In fact, he's done this a couple of times. Coming off the G2 and G mining transaction, we are now introducing G3 with the CEO, Mr. Daniel Noone. Dan, you and I, I think, had this chat last year here at Beaver Creek. It's been an exciting time. Congratulations on that transaction. You merged with those Puruni properties in Guyana, $45 million cash, Canadian contingent value rate, potential up to $200 million.

That was a hell of a transaction. But it feels like this is almost automatic in your playbook anymore. You know, is this just going down the checklist and continue to provide shareholder value?

Dan Noone (1:07)

That's the idea. When we start out, the idea is we're going to make our shareholders more money than they put in. And we do that by systematically and methodically exploring. And then once we have a geological success, make it into a financial success. And that is really as strong a discipline as the exploration itself.

Trevor Hall (1:25)

Yeah. Well, you did a great job of really introducing these properties when you was G2, right? And you're holding on to those and we had those conversations over the last couple of years.

But G3 is essentially a brand new company, still private. And we can talk about that public listing here in a minute. But give us the elevator pitch. What assets came into G3 and what exactly are you trying to build here? Is that any different?

Dan Noone (1:48)

Yeah, so what we kept was the assets to the west of the Kewnee district. So the Peters Mine, the Tiger Creek and Aramoo West, which is 32,000 acres. So everything within basically about 25 kilometers of the Oko project stayed with G2, and that was sort of like the truckable distance. So we kept the rest. The key asset there is the Peters Mine, which was historically mined from 1905 to 1909 They mined 41,000 ounces at 41 grams a ton. It's on the main road, which goes past the G mining mine and then off towards Aras's Toroparu.

You know, historically, the British Geological Survey mapped that over 4 kilometers of mineralization, which is not dissimilar to what we see at Oko Oko West, which is 5 kilometers long along that shear zone, along which you get high grade, low grade and no grade. But in general, it's minimized. So that's what we see as our main thing here in G3 to start with.

Trevor Hall (2:49)

Okay. Does the geology that you know of now suggest these properties could host something similar that you saw when you were working building G2?

Dan Noone (2:58)

Absolutely. And I think we learned a lot at Oko.

And we were coming from Aurora, where we were hosted in a foal hinge, and we went there looking for the same thing at Oko, and found out that really it was a shear zone that controlled the mineralization. And just as you went through different rock types, the mineralization displayed itself differently. From being really high-grade shoots in the sediments, to the seminated breccias and the magnetite rich volcanics.

At Peter's mine, where they basically mined that 41 gram a tonne material early, that was some three high-grade shoots. But we drilled a hole last year in between two of those shafts and hit 75 metres at 1.5 grammes, which was comprised of 60 metres at 0.8. Then under footwall, on the shear, it was 15 metres at 6 grammes. So that's not dissimilar to the concept we had at OCO. We just keep drilling along the shear, and no matter what rock type you're in, the shear's there. But if you're in the silts and sandstones, you get nothing. If you're in the mudstones, you get those beautiful high-grade shoots. And if you're in the metamorphosed volcanics, you get these mega-tight rich breccias, which one, two, three grams. So that's what we tried to test last year with that proof of concept drilling. I think we've had success on that. I won't say proved yet. I've got another four kilometers to drill out. But basically, that mineralization surface is there, and certainly been mined historically. So we're pretty excited about it.

Trevor Hall (4:16)

Well, and you kind of answered my follow-up question about what part of the OCO playbook of exploration works here. But what part of it doesn't work here? Like that maybe you need to, I think you need to be reinterpreted as far as how you're going after this thing.

Dan Noone (4:33)

Yeah. Okay. So the work, the shear zone, focus on the shear, right? And so that's definitely it. What is different here a bit is the mineralization that we've come across to date is hosted in a sandstone, like a dirty sandstone. So, nowhere near as much coarse veining, and not as much sulfidation either. So, we'll have to think about that. Certainly, there are controls along that shear zone, which are different to what we had at OCO. I mean, we've got two different plungers, bit same as OCO, but different directions.