US company takes over North American Resources Limited

Last Updated on Monday, 2 November 2015, 22:39 by GxMedia

Ensurge, Inc. (Trading Symbol: ESGI) announced Monday that it has completed its acquisition of North American Resources Inc. Ltd. (“NARIL”).

NARIL is a Guyana mining company that has been conducting gold exploration and mining for over twenty years. NARIL currently operates two cutterhead dredges on the Konawaruk river. Gold production for NARIL exceeded 1,600 ounces in 2014.

In March of this year, the Company announced that it had entered into an definitive agreement to acquire NARIL. Pending completion of the acquisition, the Company has been managing NARIL’s operations, including supervising the process of refurbishing both cutterhead dredges to increase efficiency and production.

Clint Mishleau, the Company’s CEO, stated, “We are all excited about NARIL conducting its operations now as a subsidiary of the Company. NARIL is one of Guyana’s oldest junior mining companies. The Company’s acquisition of NARIL allows us to combine the best of both companies in a region that has a long history of rich gold deposits. And, with the refurbishment of both dredges reaching conclusion, NARIL’s production is expected to commence soon with greater efficiencies.”

In addition to the river dredging operations through NARIL, the Company is conducting two small exploratory pilot land operations in the Mazaruni river region of Guyana. One operation is in the Issano Creek area and the other is in the Semang area. Based upon current results, the Company intends to expand operations at the Issano Creek area.

Ensurge, Inc. is a mining holding company that has been engaged in exploring and developing gold mining opportunities in Guyana, South America. Through its subsidiary, TransGlobal Gold Corp., the Company has been engaged in mine development in Guyana since 2012.

North American Resources Inc. Ltd. (NARIL) is a Guyana mining company that was formed twenty-two years ago and has been actively engaged in mining activities for two decades. Consequently, it is one of Guyana’s oldest junior mining companies.