Last month, Orea Mining, a gold exploration and development company operating in French Guiana, signed a Binding Term Sheet (BTS) to acquire up to a 75% interest in an advanced-stage gold exploration project located in Suriname. The company recently announced that with its due diligence near completion, it is in the process of entering into the corresponding Formal Option Agreement (FOA), which will allow it to move forward with this project.
Orea obtained a mining license covering 200 square km within an underexplored segment of the Guyana Shield greenstone belts. The company’s immediate objective is to drill define gold resources along the immediate depth and lateral extensions of the mined ores.
“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,” said Rock Lefrançois, President and CEO of Orea.