Canadian miner to finalise South American gold project acquisition

Photo: Orea

Canada’s Orea Mining Corp. has provided an update on its plans to acquire a gold project located in South Amer-ica’s Suriname.


Last July, Orea signed a binding term sheet to acquire a stake of up to 75 percent in an advanced-stage gold exploration project in Suri-name, the company said in a statement.


“With its due diligence near completion, Orea is in the process of en-tering into the corresponding Formal Option Agreement,” the state-ment said. “Upon execution of the FOA and receipt of regulatory ap-provals, Orea intends to swiftly commence exploration activities on the Project.”


The Canadian business says the project “consists of rights to Exploi-tation of Gold (Suriname mining licenses) covering 200 square kilo-meters within an underexplored segment of the Guiana Shield green-stone belts Alluvial and shallow open pit gold mining has been active on the Project over the last three decades.”


The value of the forthcoming acquisition was not disclosed.