LATIN AMERICA — NEWS ROUNDUP — Placer Dome drops Benzdorp

Vancouver-based Canarc Resource (CCM-T) says it will seek a new partner for the Benzdorp gold property in Suriname, which it had previously optioned to Placer Dome (PDG-T).

Canarc has the right to earn up to 80% of Benzdorp from Grassalco, a state-owned mining company. Grassalco did not agree with the granting of the option to Placer Dome. As a consequence, the gold producer elected not to proceed with its option to earn a 60% interest.

Canarc, which spent about $2 million delineating porphyry and shear-zone-hosted gold targets at Benzdorp, says it will seek a new partner “as soon as Grassalco meets its obligations” under the existing agreement.