Guiana Shield Structural Experts Engaged for Suriname Gold
Released
Released
Announcement PDF
ASX ANNOUNCEMENT
5 October 2026
Critical Resources Limited – www.criticalresources.com.au
Level 45, 108 St Georges Terrace, Perth WA 6000
P: +61 (8) 9465 1024 E: info@criticalresources.com.au
ASX:CRR
CRITICAL RESOURCES ENGAGES GUIANA SHIELD GEOPHYSICS
EXPERTS GEXPLORE TO FAST-TRACK STRUCTURAL TARGETING
ACROSS SURINAME GOLD PROJECTS
GexplOre’s Guiana Shield structural and geophysics team, whose work spans gold projects in Guyana,
Suriname and French Guiana, has been engaged to provide a structural interpretation over the Suriname
gold projects under exclusivity and more than 6,000 km² of the surrounding greenstone belt, providing
regional targeting data.
- Guiana Shield specialists engaged. Critical Resources has engaged GexplOre, a team of Guiana Shield
exploration specialists who have worked on around 20 gold projects across the Guiana Shield, including
structural work at G Mining Ventures’ (TSX: GMIN) Oko West (Guyana) and Founders Metals’ (TSXV: FDR)
Antino (Suriname) gold projects.
- Structure is key to the gold system. Suriname's orogenic gold is concentrated along shear zones, fold
hinges and granitoid–greenstone contacts¹⁰,¹¹. Mapping these controls early is fundamental to effective
exploration in deeply weathered, forest-covered terrain where outcrop is scarce.
- Two-stage structural program. A detailed interpretation over two priority target areas at the Gonini Gold
Project (Stage 1) and a regional, lower-resolution review covering more than 6,000 km² of the surrounding
greenstone belt (Stage 2).
- Guiana Shield gold-focused targeting. Satellite elevation and spectral data (SRTM and ASTER) will be
processed through GexplOre’s in-house workflow to map host rocks, shear and fault corridors, and later
D2 folding events that multiple published studies link to the concentration of gold in Guiana Shield
orogenic systems1,2,3.
- Prospectivity-ranked targets. The structural study is a fast, low-cost first filter to identify settings favourable
for gold mineralisation. Deliverables include mapped geological units and structural domains ranked by
gold prospectivity. These will help the Company focus detailed mapping, sampling, LiDAR, auger
geochemistry and trenching on the ground most likely to host gold.
- First-mover ASX-listed gold exploration in Suriname. Critical Resources becomes the first ASX-listed
Australian company in many decades to explore for gold in Suriname. The Gonini and Greenstars Gold
Projects together comprise approximately 199 km² of granted gold exploitation (mining) rights⁴,⁵.
- Due diligence fast-tracked. Legal, title and technical due diligence on both projects has been fast-
tracked, with site visits and in-country introductions planned in the coming weeks, so that exploration can
begin promptly once conditions precedent are satisfied.
- Surrounded by the geological province that hosts Suriname’s major gold mines. Gonini is situated within
the Marowijne greenstone belt, approximately 66 km from Newmont’s Merian mine and 88 km from Zijin’s
Rosebel mine. These established operations demonstrate the regional gold endowment of the belt,
although their mineralisation is not indicative of what may be found at Gonini.
- Suriname – attracting global capital. Major investors have backed fellow Suriname explorers Founders
Metals, Miata Metals and Greenheart Gold, all listed in Canada. Gold Fields has invested C$77 million in
Critical Resources Limited – www.criticalresources.com.au
Level 45, 108 St Georges Terrace, Perth WA 6000
P: +61 (8) 9465 1024 E: info@criticalresources.com.au
ASX:CRR
Founders Metals to hold approximately 19.9%, while La Mancha has invested in Miata and holds a
strategic interest in Greenheart⁷,⁸,⁹.
- From historical gold workings to a pipeline of modern drill targets. Existing access, artisanal workings and
camp infrastructure give the Company a practical starting point for exploration. Following completion,
the Company intends to move from historical data compilation and field mapping into systematic
sampling, geochemistry and target generation – with the objective of identifying and prioritising Gonini’s
most compelling hard-rock gold targets for drilling.
Critical Resources Limited (ASX: CRR) (Critical Resources or the Company) is pleased to announce that it has
engaged internationally recognised geophysicists and structural geologists at GexplOre to complete a
structural interpretation over the Suriname gold projects under exclusivity. The study is designed to give the
Company an early, gold-focused structural framework for the Gonini and Greenstars Gold Projects, over
which the Company holds exclusivity, and to identify additional targets across the surrounding greenstone
belt.
The structural study runs alongside fast-tracked due diligence on both projects, with site visits planned in the
coming weeks, so that the Company’s first field programs can be directed to the highest-ranked ground from
the outset.
Figure 1 – Location of the Gonini and Greenstars Gold Projects and other gold deposits and projects within
the Suriname greenstone belt.
Critical Resources Limited – www.criticalresources.com.au
Level 45, 108 St Georges Terrace, Perth WA 6000
P: +61 (8) 9465 1024 E: info@criticalresources.com.au
ASX:CRR
Critical Resources Managing Director, Tim Wither, commented: ‘The Gonini and Greenstars projects give
ASX investors a rare opportunity for exposure to the Guiana Shield greenstone belt in Suriname, and give
us the opportunity to continue to grow our footprint within Suriname and the greater Guiana Shield.
GexplOre brings structural experience from some of the most significant discoveries in the Shield, including
G Mining Ventures’ Oko West in Guyana and Founders Metals’ Antino in Suriname. Engaging them now
means we can build our structural picture while due diligence and the formal agreements are completed,
so our field teams can go straight to the best ground. The regional review will also help us screen further
opportunities across the belt.’
WHY STRUCTURE MATTERS IN SURINAME
Gold mineralisation across the Suriname greenstone belt is orogenic, hosted in quartz and quartz-carbonate
vein systems controlled by lithological contacts, particularly granitoid–greenstone contacts, fold hinges and
sub-vertical shear corridors¹⁰,¹¹. At Rosebel, Suriname’s first large-scale gold mine, mineralisation is localised
along shear zones and associated structures within folded volcanic and sedimentary rocks¹¹.
GexplOre’s published research identifies two stages of deformation as important across the Shield’s major
gold systems: early (D1) shear and fault corridors that act as conduits for gold-bearing fluids, and later (D2)
folding and refolding that increases permeability and can remobilise and concentrate gold into higher-grade
shoots¹,²,³. The prospectivity ranking combines these structural elements with host-rock and contact
information to rank ground for gold potential.
Why structural mapping matters. Suriname’s deep tropical weathering profile, with saprolite and laterite
locally exceeding 100 m, and dense forest cover mean that outcrop is scarce¹⁰,¹². Satellite-based structural
interpretation is a fast, low-cost first filter: it allows the Company to rank large areas before committing to
LiDAR, auger geochemistry and trenching, and to focus those programs on the structural settings most likely
to host gold.
SCOPE OF WORK
GexplOre is a team of exploration geologists specialising in the Guiana Shield, with a reported track record
across around 20 gold projects in the Shield. The team initiated structural work on, and funded doctoral
research into, the structural controls on the Oko West deposit in Guyana, now owned by G Mining Ventures,
and has conducted structural work at Founders Metals’ Antino Gold Project in Suriname².
The Company’s study will be led by Dr Brice Lacroix, PhD, P.Geo., co-founder of GexplOre, a structural
geologist and an author of published research on polyphase deformation and the structural controls on gold
in the Guiana Shield, including at Oko West¹,²,³. GexplOre completed a comparable SRTM and ASTER
structural study at Altair Minerals Limited’s (ASX: ALR) South Oko project in Guyana.
GexplOre will process Shuttle Radar Topography Mission (SRTM) elevation data and Advanced Spaceborne
Thermal Emission and Reflection Radiometer (ASTER) multispectral data using its in-house filtering workflow,
calibrated against its experience on other Guiana Shield gold projects. The objectives are to produce a
property-scale geological interpretation, define the principal structures, and propose targets for field follow-
up.
Stage 1 is a detailed, property-scale interpretation of two priority target areas selected by the Company.
Stage 2 is a lower-resolution review of more than 6,000 km² of the surrounding greenstone belt. Each stage
will produce an interpreted geological map, a structural map showing faults, shear zones, bedding and
Critical Resources Limited – www.criticalresources.com.au
Level 45, 108 St Georges Terrace, Perth WA 6000
P: +61 (8) 9465 1024 E: info@criticalresources.com.au
ASX:CRR
foliation, and structural domains ranked by gold prospectivity. Stage 1 will guide initial field programs, and
Stage 2 will help the Company screen the wider belt for further opportunities.
Figure 2 – Gonini Project northern and southern tenure, Greenheart Gold (TSXV: GHRT) Tosso Creek project
(refer to GHRT announcement 20 August 2026) and nearby transport access.
CRITICAL RESOURCES SURINAME PROJECTS UNDER EXCLUSIVITY
In September 2026, Critical Resources secured exclusivity over two granted gold projects in Suriname, Gonini
and Greenstars, as the first steps in its strategy to build a gold portfolio in the Guiana Shield.
Subject to completion, the Company would hold 90% interests in approximately 199 km² of granted gold
exploitation (mining) rights. Both are exploitation rights rather than early-stage exploration applications, and
they sit within the greenstone belt that hosts Suriname’s two major gold mines, Newmont’s Merian and Zijin’s
Rosebel. Both projects have a long history of small-scale gold mining but little or no modern systematic
exploration. That combination makes structural targeting a logical first step.
- Gonini Gold Project (ASX: CRR announcement 23 September 2026). Exclusivity to acquire a 90% interest in
two granted exploitation rights covering approximately 164 km² in the historic Sara Creek gold district. The
district lies within the Marowijne greenstone belt, approximately 66 km from Newmont’s Merian mine. Gold
was discovered on the Sara Creek in 1876 and small-scale miners have worked the district since, but there
is no record of modern systematic exploration on the rights.
- Greenstars Gold Project (ASX: CRR announcement 28 September 2026). Exclusivity to acquire a 90%
interest in a single granted exploitation right, GMD 922/21, covering approximately 35 km² in the Para
District. The right lies west of the Saramacca River, approximately 35 km west of Zijin’s Rosebel gold mine.
The Project is road-accessible from Paramaribo, and small-scale alluvial workings are active in the area.
Critical Resources Limited – www.criticalresources.com.au
Level 45, 108 St Georges Terrace, Perth WA 6000
P: +61 (8) 9465 1024 E: info@criticalresources.com.au
ASX:CRR
Completion of each acquisition remains subject to conditions precedent. These include satisfactory due
diligence, written GMD confirmation of good standing, Ministerial approval and formal binding agreements
being signed. There is no certainty that either acquisition will complete. Terms are as previously announced.
DUE DILIGENCE FAST-TRACKED
The Company has fast-tracked due diligence on the Gonini and Greenstars Gold Projects so that exploration
can begin promptly once the conditions precedent are satisfied. Work under way includes:
- Legal and title. Surinamese legal counsel has been engaged to review title, registration and corporate
records, and the Company has sought written confirmation of good standing from the Geology and
Mining Department (GMD).
- Corporate structure. Establishment of the Company’s Surinamese holding structure is being progressed
with local advisers.
- Technical. Review of the Vendors’ data and GMD regional geology, integrated with GexplOre’s structural
interpretation.
- Site visits. Company management will visit Suriname in the coming weeks to inspect both projects, meet
the Vendors and local communities, and make in-country introductions with key stakeholders and officials.
Figure 3 – Excavator-assisted workings on the Gonini Project with small-scale pump-and-sluice operation on
the pit floor [circa 2020].
SURINAME
Suriname is an established gold-producing country within the Guiana Shield and an emerging destination for
gold exploration capital. Its greenstone belts are part of the same Paleoproterozoic geological province as
West Africa’s Birimian greenstones, which host world-class gold districts in Ghana, Côte d’Ivoire and Burkina
Faso; the two shields are interpreted to have been joined before the opening of the Atlantic Ocean¹⁰,¹³
(Figure 4). Despite this shared geology, the Guiana Shield has seen materially less systematic modern
exploration than its West African counterpart¹³.
Critical Resources Limited – www.criticalresources.com.au
Level 45, 108 St Georges Terrace, Perth WA 6000
P: +61 (8) 9465 1024 E: info@criticalresources.com.au
ASX:CRR
Large-scale gold mining has operated continuously in Suriname for more than two decades. Rosebel, in
production since 2004, reportedly produced 5.65 Moz of gold between 2004 and 2021 and was acquired by
Zijin Mining from IAMGOLD for US$360 million in 2023; Merian, operated by Newmont since 2016, commenced
with 5.1 Moz of gold reserves⁶. Gold accounted for approximately 79% of Suriname’s exports, around US$2.0
billion, in 2024¹⁴. Mineral rights are granted under the Mining Decree 1986, with exploitation rights carrying the
exclusive right to mine, process and sell.
Recent exploration success by Canadian-listed explorers has drawn strategic investment into Suriname. Gold
Fields has invested C$77 million in Founders Metals to hold approximately 19.9%, and La Mancha holds 19.9%
of both Miata Metals and Greenheart Gold⁷,⁸,⁹. Companies actively exploring or producing in Suriname
include:
Company Listing Suriname project(s)
Newmont NYSE: NEM Merian (75% Newmont / 25% Staatsolie)
Zijin Mining SSE: 601899 Rosebel
Founders Metals TSXV: FDR Antino
Miata Metals TSXV: MMET Sela Creek, Nassau
Greenheart Gold TSXV: GHRT Tosso Creek, IGAB, Majorodam
Critical Resources ASX: CRR Gonini, Greenstars (exclusivity)
Table 1 – Selected companies active in Suriname gold. Third-party information has not been verified by the
Company and is provided for jurisdictional context only.
Figure 4 – The West African Birimian greenstone belts and the correlative greenstone belts of the Guiana
Shield, with the location of major gold deposits and projects.
Critical Resources Limited – www.criticalresources.com.au
Level 45, 108 St Georges Terrace, Perth WA 6000
P: +61 (8) 9465 1024 E: info@criticalresources.com.au
ASX:CRR
NEXT STEPS
Over the coming months, the Company’s priority is to complete due diligence and the formal acquisition
agreements, while GexplOre’s structural study defines where the first fieldwork will go. This means the
Company can move straight into targeted field programs once the conditions precedent are satisfied.
- Stage 1 deliverables. Receive GexplOre’s priority-area interpretation, expected by mid-November
2026.
- Integration. Combine the interpretation with Geology and Mining Department (GMD) regional
mapping, artisanal workings and Vendor data to rank targets.
- Site visits and due diligence. Site visits to both projects in the coming weeks; complete legal, title and
technical due diligence, including verification sampling, and finalise formal acquisition agreements.
- Field program design. Use the ranked structural domains to plan LiDAR, first-pass auger geochemistry
and trenching, subject to Completion.
- Regional review. Use the Stage 2 results to screen further opportunities in Suriname and the wider
Guiana Shield.
This announcement has been approved for release by the Board of Directors of Critical Resources.
For further information, please contact us directly at:
E: info@criticalresources.com.au
P: +61 (8) 9465 1024
ABOUT CRITICAL RESOURCES LIMITED
Critical Resources Limited (ASX: CRR) is an Australian mining and technology company focused on the
discovery and development of critical minerals and next-generation technologies essential to a sustainable
future. The Company holds a diversified portfolio including the Mavis Lake Lithium Project in Ontario, Canada,
the Halls Peak Base Metals Project in New South Wales, and gold projects in New Zealand and Suriname.
COMPETENT PERSON STATEMENT
No Exploration Results, Exploration Target, Mineral Resources or Ore Reserves are reported in this announcement. The
information in this announcement relating to the geological setting of the Gonini and Greenstars Gold Projects is based
on information compiled by Mr Troy Gallik, P.Geo., a member of Professional Geoscientists Ontario, a Recognised
Professional Organisation under the JORC Code. Mr Gallik is a consultant to Critical Resources Limited and has sufficient
relevant experience to qualify as a Competent Person under the 2012 Edition of the JORC Code. Mr Gallik consents to
the inclusion of the information based on his work in the form and context in which it appears.
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seeing what other shareholders have to say about this, as well as past announcements.
For more information, visit: www.criticalresources.com.au
Critical Resources Limited – www.criticalresources.com.au
Level 45, 108 St Georges Terrace, Perth WA 6000
P: +61 (8) 9465 1024 E: info@criticalresources.com.au
ASX:CRR
THIRD-PARTY INFORMATION AND PROXIMITY STATEMENT
References in this announcement to the Merian and Rosebel mines; to the Oko West, Antino, Sela Creek, Nassau and
Tosso Creek projects; to the corporate transactions, financings and market capitalisations of Founders Metals, Miata
Metals and Greenheart Gold; to structural work by GexplOre for Altair Minerals Limited; to historical exploration by
IAMGOLD; and to historical gold production and exploration in the Sara Creek district are drawn from public disclosures
by the relevant companies as listed under References. The Company has not verified this information, does not rely on it
for any statement about the Gonini or Greenstars Gold Projects, and includes it for regional and jurisdictional context only.
Mineralisation on adjacent or nearby properties is not necessarily indicative of mineralisation on the Project, and neither
the Company nor the Competent Person has completed sufficient work to verify the historical information on
neighbouring properties. The mineral resource, ore reserve, production and exploration figures attributed to third parties
in this announcement were prepared by those parties under the reporting regimes applicable to them, have not been
prepared or reported by Critical Resources in accordance with the JORC Code, and are not reported by Critical
Resources as its own Exploration Results, Mineral Resources or Ore Reserves. References to nearby deposits, mines and
transactions do not in any way guarantee that the Company will have exploration success at Gonini or Greenstars, or
that a Mineral Resource will be estimated on the Project, if at all.
FORWARD-LOOKING STATEMENTS
This announcement may contain certain forward-looking statements and projections. Statements regarding CRR’s plans
with respect to its mineral properties and programs, including the satisfaction of conditions precedent, the payment of
deferred consideration and the retention of the Company’s interest, the timing, scope and outcomes of the GexplOre
study, the timing of site visits, the timing and scope of exploration at Gonini and Greenstars, and the potential for the
Project to host a mineral deposit, are forward-looking statements. Such forward-looking statements/projections are
estimates for discussion purposes only and should not be relied upon. Forward-looking statements/projections are
inherently uncertain and may therefore differ materially from results ultimately achieved. There can be no assurance that
CRR’s plans for development of its mineral properties will proceed as currently expected, that the conditions precedent
will be satisfied, that CRR will be able to identify or confirm the presence of mineral resources, that any mineralisation will
prove to be economic or that a mine will successfully be developed on any of CRR’s mineral properties. Critical Resources
Limited does not make any representations and provides no warranties concerning the accuracy of the projections and
disclaims any obligation to update or revise any forward-looking statements/projections based on new information, future
events or otherwise, except to the extent required by applicable laws. To the maximum extent permitted by law, neither
Critical Resources Limited nor any of its directors, officers, agents, employees or advisers gives any representation or
warranty, express or implied, as to the accuracy or completeness of the third-party information referred to in this
announcement, which has not been independently verified by the Company.
REFERENCES
1. Lacroix, B. et al. (2022), ‘The Role of Polyphase Folding in the Distribution of Gold: Insights from the Guiana Shield’, 12th Inter-Guiana
Geological Conference, Georgetown, Guyana.
2. Hainque, P.J. et al. (2025), ‘Polyphase deformation and structural controls on Rhyacian gold mineralization at the Oko West deposit,
Guyana’, Journal of South American Earth Sciences, 153.
3. Lacroix, B. and Hainque, P.J. (2025), ‘Resolving Fold Interference Pattern to Predict Ore Shoot: The RIPPOre Method’, 18th SGA Biennial
Meeting, Colorado School of Mines, Golden, Colorado.
4. Critical Resources Limited, ASX announcement ‘Critical Resources Secures Exclusive Rights to 164 km² Advanced Gold Project in
Suriname’s Emerging Guiana Shield Gold Province’, 23 September 2026.
5. Critical Resources Limited, ASX announcement ‘Critical Resources Secures Exclusivity over Second Suriname Project ~35 km from Zijin’s
Rosebel Gold Mine’, 28 September 2026.
6. Zijin Mining Group Co., Ltd., ‘Zijin Mining to acquire world-class producing gold mine in Suriname’, 18 October 2022; IAMGOLD
Corporation Q1 2023 report; Newmont Corporation, ‘Newmont begins production at Merian’, October 2016.
7. Founders Metals Inc., ‘Founders Metals to Consolidate 100% Ownership of Antino Gold Project; Gold Fields Increases Strategic Stake to
19.9%’, 19 August 2026.
8. Miata Metals Corp., ‘Miata Metals Closes C$25.2 Million Financing Including 19.9% Strategic Investment by La Mancha’, 18 August
2026; corporate presentation, 1 September 2026 (market capitalisation ~C$123M at C$0.73 and 168.2M shares).
9. La Mancha Investments S.à r.l. / Greenheart Gold Inc., announcement of strategic investment, April 2026; Greenheart Gold Inc.,
financing announcement, May 2026.
10. Kioe-A-Sen, N.M.E., van Bergen, M.J., Wong, Th.E. and Kroonenberg, S.B. (2016), ‘Gold deposits of Suriname: geological context,
production and economic significance’, Netherlands Journal of Geosciences, 95(4), 429–445.
11. Daoust, C. et al. (2011), ‘Geological setting of the Paleoproterozoic Rosebel gold district, Guiana Shield, Suriname’, Journal of South
American Earth Sciences, 32(3), 222–245.
12. Voormeij, D.A. (2021), Gold Exploration in Tropical Landscapes, 5th ed., Mynah Exploration Inc.
13. Founders Metals Inc., corporate presentation, July 2026 (Guiana Shield and Birimian gold inventories).
14. United States Geological Survey, Minerals Yearbook – Suriname (2024 data).
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