US mining company Ensurge has completed the purchase of a 320 acre island property near the mouth of Cuyuni River in Guyana, South America.
The property is located within a gold producing area. Multiple water dredges have operated adjacent to this property for several years.
As part of the Oko mining formation, the property has terrain of white sand and dark colored gravel.
The company has also received a prospective permit from the Guyana Geology and Mines Commission (GGMC) for this project.
Ensurge CEO Clint Mishleau said: “Throughout most of 2016, we had concentrated our efforts on acquiring gold, diamond, and rare earth element properties for our portfolio. In 2017, we are focusing on further development and exploitation of the properties that we have acquired.
"This island gold property shows promising attributes, and is very close in proximity to the mining town of Bartica, which minimises logistic costs. We have contracted a geologist to begin the initial testing phase in January and look forward to developing an execution plan on this prospect."
Recently, Ensurge has paid for multiple 43-101 reports on properties that it owns and operates.
The company also claimed that it has made progress on its audit and plans to file its SEC Form 10 within the first quarter of this year.
With more than 20 years' experience in mining, Ensurge plans to expand its operations in Guyana. It is also exploring different opportunities in precious metals, diamonds and gems.