Geophysx is the largest license holder in Jamaica and has completed an extensive exploration campaign across the island. What motivated this country-wide campaign?

Jamaica remains largely underexplored, with modern geological interest limited despite its rich potential. The island experienced its last significant exploration surge in the 1800s, but attention quickly shifted as geologists departed for California during the gold rush. It was only a century later that bauxite was discovered in Jamaica in the 1950s, but since then, there has not been a holistic, comprehensive metals exploration program. My experience taught me there are significant prospects in Jamaica so in 2017, I decided to start Geophysx Jamaica and invest US$20 million to complete a large-scale mineral exploration campaign.. 

Could you elaborate on the data collected and what you found?

We started the program in 2018 and, over the next five years, we did over 40,000 geochemical assays and built a profile of multiple anomalous zones. Geophysx amassed just over 4,000 km2 of licensed ground, we explored almost every parish in the island. The campaign is the largest and most technologically comprehensive in the country’s history, including 62-element geochemical sampling, geological mapping, and industry-leading airborne geophysical surveys (drone surveys and a helicopter geophysical campaign). From this integrated program, we delineated dozens of highly prospective zones not only for gold and copper but also—unexpectedly—for rare earth elements (REEs). 

Could you comment on the recent earn-in agreement with Barrick Gold for over 4,000 km2 of license area?

This partnership grants Barrick the option to earn up to an 80% joint venture interest in select properties by meeting specific investment and technical milestones. Barrick will act as operator, with Geophysx providing local expertise, data, equipment and facilities. Barrick brings deep technical expertise and is the most experienced player in the Caribbean through its successful operation of the Pueblo Viejo mine in the Dominican Republic. Jamaica and the Dominican Republic share similar geological foundations, both featuring Cretaceous volcanic arc terranes and a tectonic setting linked to subduction-related magmatism. These conditions are ideal for hosting gold and copper mineralization. 

What license are you advancing together with C3 Metals?

Geophysx has a JV partnership with C3 Metals on a 10,000-ha property in the center of the island. The license covers the old Pennants gold mine, which was operated in the early 2000s. We believe Pennants is part of a bigger system, so the partnership combines some of  C3’s ground with ours to be able to better explore and unlock the potential of the area in a more cohesive way. Drilling has already commenced. Incidentally, C3 Metals have also announced at the beginning of 2025 an earn-in with Freeport-McMoran, on a separate land package, which means that we now have two majors  majors in Jamaica – and this clearly signals a turning point in Jamaica’s exploration fortunes. 

How can Jamaica raise its profile on the global map for mining exploration?

The government has been very supportive and encouraging throughout our work. In fact, I think even they were surprised by just how much mineral potential exists in Jamaica.  That said, unlike in some countries where governments often fund initial geophysical surveys or starter datasets, in our case, we had to build everything from the ground up. 

Historically, Jamaica’s mining sector has revolved around bauxite, which is quite different from gold or copper. Copper and gold, by contrast, require far more intensive exploration and significant capital outlay. You're looking at bringing in specialized equipment—much of which isn’t readily available in Jamaica—and paying duties on that. Just the cost to resource a potential gold or copper mine can run upwards of US$200 million, long before you make the decision to build a mine.

To attract serious investment in hard rock metallic mining, Jamaica will need to establish a fiscal and regulatory framework that supports this kind of activity. That includes rethinking tax and royalty structures to ensure a fair and balanced outcome—one where both the investor and the country benefit. It’s about creating a structure that enables companies to make a return while ensuring Jamaica sees lasting economic value. It’s achievable, but it will take thoughtful work and collaboration. I’m very optimistic about the progress being made in this regard and look forward to a bright future for Jamaica.