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Reunion Gold reports deals for Guyana gold projects

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Reunion Gold reports deals for Guyana gold projects

Reunion Gold Corp. said it entered into two letter agreements in December 2017 securing exploration and acquisition rights over the Waiamu and Arawini gold projects in Guyana.

For the Waiamu project, the company is required to pay US$200,000 upon signing the definitive agreement and make annual payments of US$200,000 over the next four years.

The company said Feb. 21 that it intends to conduct an exploration program at the 35,000-acre project along with geological mapping and prospecting.

To acquire the 22,000-acre Arawini project, Reunion will pay US$100,000 upon signing the definitive agreement and make annual payments of US$150,000 over the subsequent four years.

The company plans to start an initial six-week reconnaissance program for the project area by the end of March, with detailed grid auger sampling to begin by the end of June.

Reunion also entered into a definitive agreement in December 2017 to acquire the Aremu gold project in Guyana.

To maintain its exploration and purchase the 5,164-acre project, Reunion is required to pay US$775,000 over five years. The company paid US$75,000 at the signing of the definitive agreement.

The company said in December 2017 that it started exploration at Aremu, which was estimated to cost about C$1.3 million.