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Orea to acquire gold project in Suriname

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Global Mining Review,

Orea Mining Corp. has announced the signing of a binding term sheet (BTS) to acquire up to a 75% interest in an advanced-stage gold exploration project in Suriname, South America.

Project highlights:

  • Located in a significant alluvial gold mining district in Suriname.
  • Large land package consisting of contiguous ‘rights to exploitation of gold’ (Suriname mining licenses) covering 200 km2 within an underexplored segment of the Guiana Shield greenstone belts.
  • Alluvial and small scale open pit gold mining has been active on the project over the course of the last three decades.
  • Exploration conducted by Canadian juniors during 1993 – 1997 and 2006 – 2007, including over 30 000 m of drilling, has provided an excellent database and identified several targets for immediate resource development.
  • A large portion of the project remains unexplored.
  • The mining licenses allows for exploration and mining with no additional permits required.
  • Accommodations, communications, equipment, machinery, security, and personnel have been established on the project by the optionor, facilitating logistics for exploration.

Rock Lefrançois, President & CEO of Orea, comments:

“We are very excited to expand our activities in South America, strategically within the Guiana Shield, where we have established expertise over the past 10 years.

“Suriname’s favourable mining regime and Orea’s proven capabilities in the region will allow for rapid development of this promising project.”

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