Gurupi Project
Highlights
Overview
The Gurupi Project (formerly CentroGold) is a district-scale gold project located in northeastern Brazil, covering ~2,100 km² along an 80 km mineralized trend. The project consists of three known open-pit deposits – Blanket, Contact, and Chega Tudo – with an updated NI 43-101 compliant mineral resource estimate of 1.83 M Indicated and 0.77 M Inferred gold ounces as of Q1-2025.
Acquired from BHP in Q4-2024, Gurupi is a high-potential, underexplored gold asset with significant resource expansion opportunities. The project's strong geological foundation, extensive historical drilling (135,000+ meters), and large-scale land package make it a key component of GMIN’s long-term growth strategy.
With exploration restarting in 2025, GMIN has allocated a $2 to $4 million budget to expand the resource base, conduct high-resolution surveys, and advance new drill targets. Gurupi's strong geological potential in an established mining jurisdiction positions it as a future tier-one gold project, supporting GMIN’s long-term growth strategy.
About The Project
History
Exploration at the Gurupi Project (formerly CentroGold) began in the 1980s when Vale and other operators identified multiple gold occurrences along the 80 km mineralized trend. By the late 1990s and early 2000s, over 126,000 meters of drilling defined key deposits. Luna Gold Corp. acquired the project in 2007, expanding drilling efforts and establishing a JORC-compliant resource. OZ Minerals took over in 2016 after acquiring Avanco Resources, advancing studies and drilling. In 2019, OZ Minerals completed a Pre-Feasibility Study (PFS), contemplating a high-margin open-pit gold operation. GMIN acquired Gurupi from BHP in Q4-2024 in exchange for a 1.0% NSR royalty on the first 1 Moz of gold produced at the tenements and a 1.5% NSR royalty on gold production thereafter. Gurupi forms an important leg of growth in GMIN’s project pipeline after Tocantinzinho and Oko West. A new NI 43-101 mineral resource estimate was released in Q1-2025.