ALERIO GOLD CORP. Alerio Gold Corp. announced that it has closed on the Purchase Agreement to acquire a 100% interest in five gold prospecting licences in Guyana known as the Puruni Gold Property. In consideration for the acquisition of the Property, the Company paid to the Property vendors an aggregate of $300,000 and is issuing 27,000,000 common shares in the capital of the Company at a deemed price of $0.10 per Payment Share.
The Puruni Gold Property is located approximately 250 kilometers southwest of Georgetown, the capital of Guyana. The Property can be reached by road (arriving as close as the Peters Mine), helicopter, or riverboat with a gravel road from the Mazaruni River passing within a few hundred meters of the Property. The Property consists of five (5) Mining Permits Medium Scale (MP) and one (1) Prospectinb Permit Medium Scale (PPMS) totalling in area 36 km2 (approx.
9000 Acres). The Permits are traversed by the Puruni River in the Mazaruni Mining District No. 3, Guyana, N.T.S. Sheet Puruni 26 S.W. The northernmost boundary of the Puruni Gold Property lies 2.5 kilometres south of the historic Peters Mine (owned by Zijim Mining as a result of their purchase of Guyana Goldfields in 2020) one of the first recorded gold mines in Guyana.
The Peters Mine was discovered in the 1890's by porknockers (local small-scale miners) and underground development and mining were in operation prior to WW1. The district has been subjected to a number of regional airborne and ground exploration surveys that focussed on the Peters Mine area and which have defined a north-south trending deformation zone, which hosts the quartz vein-related gold mineralization at Peters Mine, and trends onto the Puruni Gold Property. All securities issued pursuant to the Purchase Agreement are subject to restrictions on resale for a period of four (4) months plus one day from the closing.
In addition, the Company will issue 1,000,000 shares to consultants in consideration of corporate advisory services in connection with closing the Puruni Property acquisition and other services for the Company.
