Canarc lands Suriname ground

A recently signed agreement gives Canarc Resource (VSE) an option to earn an 80% interest in the Sara Creek concession in east-central Suriname.

To earn the interest, Canarc must spend US$2.3 million over four years. The property measures about 22,500 hectares (55,575 acres) in an area of historic gold production and can be reached by light aircraft or powerboat from Paramaribo, about 150 km to the north.

Production during a 90-day test period last year yielded 13 kg gold from surface alluvial material. There is a substantial amount of surface equipment on-site, including a dredge, bulldozers, generators and a camp. Canarc plans to proceed with surface mining while conducting feasibility work for a large gold mine.