Tajiri Resources (TSX-V:TAJ) has agreed to acquire a vesting 65% interest in the Yono property in Guyana.
Situated approximately 170 meters from significant gold resources, delineated by G2 Goldfields Inc (TSX-V:GTWO, OTCQX:GUYGF) and Reunion Gold Corporation (TSX-V:RGD, OTCQB:RGDFF), Yono has seen artisanal mining activity and exhibits promising geological indicators.
Tajiri noted that, despite lacking defined resources, surrounding exploration data suggests potential for gold mineralization.
The acquisition involves issuing 40 million shares of Tajiri to Nebula Resources Inc., the current owner of Yono.
Key terms of the agreement include the formation of a new Guyana trust company to hold the property, with Tajiri and Nebula retaining 65% and 35% interests, respectively. Upon completion of a positive bankable feasibility study, Tajiri has the option to acquire additional shares from the trust company, paving the way for future foreign ownership under prospecting or mining licenses.
Graham Kevil, CEO of Tajiri, told shareholders that the acquisition had “compelling value” for the company.
“The purchase of 65% of Yono, located in the heart of what appears to be a growing Tier 1 gold asset is a coup for the company,” Kevil said in a statement.
Kevil noted that the vendor's substantial retained interest acknowledges the strategic location of the Yono Property, suggesting potential substantial returns for Tajiri shareholders and the vendor regardless of future expenditures or discoveries within the property.