Canadian company Golden Shield has announced the termination of an agreement to acquire private company Tucano Gold.
Through the proposed transaction, first mooted in July, Golden Shield will have acquired gold projects in Brazil.
In a statement on Friday, CSE-listed Golden Shield did not provide any reason for terminating negotiations and only stated that its focus would remain on advancing its project in Guyana.
The company owns the 5 457-ha Marudi Mountain gold project, covering a high-grade gold camp on which a total of 50 350 m of diamond drilling has been carried out. Mazoa Hill represents the principal deposit where most of the drilling has occurred. Numerous other deposits occur on the property that require additional drilling, including Pancake Creek, Marudi North and Toucan.