Modern Lidar technology has led Sranan Gold Corp. (CSE: SRAN; FSE: P84) to a new high-grade discovery right at the start of its ongoing exploration campaign on the Tapanahony Project in Suriname, a discovery previously overlooked by local gold miners and the predecessor IAM Gold. Approximately 150 meters south of the so-called Randy’s Pit, which has been operated on a small scale by the local population for several years, samples with an average grade of 36.7 grams/tonne (g/t) gold were taken over a length of 5 meters in a near-surface trench. The recently announced high-grade grab samples from the underground workings at the northern tip of Randy’s Pit (76.6 g/t and 23.7 g/t gold) are approximately 350 meters north of where the new trench was excavated.
New Discovery Confirms Extension of Randy Trend
The trench was excavated in a north-south direction, while the intersected mineralization runs obliquely in a northwest direction. Samples were taken from the upper saprolite material at the contact zone between sheared sedimentary and granitic rocks, which also proves to be an excellent gold carrier in other parts of the Guiana Shield, including the Antino project, majority-owned by Founders Metals. Geologists believe that the newly discovered high-grade trench sections represent the continuation of gold mineralization beyond Randy’s Pit to the south. This high-grade section was overlooked in previous drilling.
Dr. Dennis LaPoint, Executive VP of Exploration and Corporate Development, commented: “This first trench reconfirms the potential for an extension of the Randy trend. Several gold occurrences in Suriname are associated with complex, multi-stage deformation zones containing high-stress veins that increase the grade. The ongoing trenching program is intended to further extend the strike length of the Randy trend. Trenching is being conducted concurrently with drilling on the Randy trend.”
Tapanahony Project with Great Catch-Up Potential
Conclusion: A veritable gold rush is currently underway on the Guiana Shield. In British Guiana, the prominent names are G2 Goldfields (CAD 730 million market cap) and more recently Omai Gold (CAD 517 million); in Suriname, the largest player is Founders Metals (CAD 325 million). Sranan Gold (CAD 30 million) is, by comparison, just at the beginning, but has the same team and even the same founder as Founders Metals. Sranan Gold Corp.’s promising Tapanahony project covers 29,000 hectares in one of Suriname’s oldest and largest artisanal mining areas. For comparison: Founders’ Antonio Project is 20,000 ha. Sranan Gold geologists have quickly discovered three parallel trends on the project, each extending over several kilometers. Local mining only occurs in short sections along the 4.5 km Poeketi-Randy trend. The 10,000-meter drilling campaign is fully funded and just starting. It is advisable to pay attention to company news.
