NW EXTENSION PROJECT
SURINAME
NW EXTENSION PROJECT
Reunion Gold’s NW Extension Project sits in a little-explored section of the northern greenstone belt of Suriname, well known for its gold mineralization endowment.
Location
The Project is located 60 kilometres to the west-southwest of the capital city Paramaribo and 70 kilometres northwest of the Rosebel mine (Figure 1), and can be accessed by logging trails.
Mineral rights and agreement
The NW Extension Project comprises rights of exploration licenses with a surface of 925 square kilometres. The mineral rights are under option from a Surinamese company for an initial period of 11 years. Upon exercising the option to acquire 100% of the Project, the rights holder would retain a 0.25% net smelter royalty. Barrick Gold Corporation (“Barrick”) has opted to include the Project in its Strategic Alliance with Reunion, and the exploration costs are being funded on a 50:50 basis between the two companies.
Geology and mineralization
The interpretation of available geophysical data indicates that the large, greenstone belt-scale geological structures associated with gold mineralization at the Rosebel gold deposit extend to the northwest under cover of recent sediments, underlying the Project area footprint.
Exploration work
The Alliance partners completed a detailed airborne magnetic and radiometric survey in the first quarter of 2021 and identified targets to be tested by drilling.
