Gold discovery in Suriname encourages Canadian miners

Rhyolite Resources announced that the company's exploration program in December at the Brothers project in Suriname had expanded the concession's gold potential.

In a press release, the Canadian miner disclosed that prospecting by small-scale miners working within the property had opened new sites showing quartz veins in the soil form. High-grade rock samples and channel samples also proceed to expand the scope of the gold-bearing structures at Brothers.

In detail, 41 rock grab samples recorded values of 42.67 and 20.54 g/t of gold. In total, nine individuals were 5 g/t or higher (22%) and 19 were greater than 1 g/t (46%).

Rhyolite also collected two-meter channel units where small-scale miners are opening small trenches to prospect. Out of 25 samples, four were over 2 g/t, and 13 were over 0.2 g/t (52%).

"The identification of more targets returning multiple high-grade samples indicates the significant potential of the Brothers concession that lies only 45 kilometers south of Newmont's Merian mine, which is also producing almost 500,000 ounces of gold per year," Richard Graham, the company's president and CEO, said in the media brief.

The 96-square-kilometer Brothers project is settled approximately 140 kilometers south of Paramaribo and lies within the same general mineralized lithologic and tectonic setting as IAMGOLD's Rosebel Gold mine and Newmont's Merian mine.