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Orea provides Suriname gold project acquisition update

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Global Mining Review,

Orea Mining Corp. has provided an update on the acquisition of a new gold project located in Suriname, South America.

As announced on 6 July 2021, Orea signed a binding term sheet (BTS) to acquire up to a 75% interest in an advanced-stage gold exploration project located in Suriname, South America. With its due diligence near completion, Orea is in the process of entering into the corresponding formal option agreement (FOA). Upon execution of the FOA and receipt of regulatory approvals, Orea intends to swiftly commence exploration activities on the project.

The project consists of Rights to Exploitation of Gold (Suriname mining licenses) covering 200 km2 within an under-explored segment of the Guiana Shield greenstone belts. Alluvial and shallow opencast gold mining has been active on the project over the last three decades. Orea’s immediate objective is to drill define gold resources along the immediate depth and lateral extensions of the mined ores.

Rock Lefrançois, President and CEO of Orea, commented: “We are very excited to intensify our development within the Guiana Gold Belt with an opportunity to quickly define new gold resources on this promising project.”

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Gold mining news South American mining news