Critical Resources Locks in Second Suriname Gold Project Near Major Rosebel Mine
Key Takeaways
- CRR secured exclusivity over the Greenstars Gold Project just five days after announcing the Gonini acquisition, giving the company a potential 90% interest in approximately 199 km² of granted gold mining rights across two Suriname projects.
- Greenstars sits approximately 35 km west of Zijin Mining's Rosebel gold mine, which produced 306,535 oz of gold in 2025 and holds an 11.6 Moz Au resource, and roughly 34 km from the Saramacca satellite deposit.
- CRR states it is the only ASX-listed company with rights to granted gold tenure in Suriname, a jurisdiction where Gold Fields recently committed C$77 million to Founders Metals and La Mancha holds 19.9% stakes in two separate greenstone belt explorers.
- Total pre-completion financial exposure is capped at US$40,000, with CRR retaining the right to withdraw at any time before the formal agreement is executed and conditions precedent are satisfied.
- The full acquisition costs US$750,000 in cash over three years plus 2.5 million CRR shares, with the vendor's 10% interest free-carried to a decision to mine and a buyout option on the 1% NSR royalty for US$1,000,000.
CRR secures exclusivity over second Suriname gold project
Critical Resources Limited (ASX: CRR) has moved quickly to build its Suriname gold portfolio, securing exclusivity over the Greenstars Gold Project just five days after announcing the Gonini Gold Project on 23 September 2026. Subject to completion of both proposed acquisitions, CRR would hold 90% interests in approximately 199 km² of granted gold mining rights across the two projects, covering Gonini (~164 km²) in the Sara Creek district and Greenstars (~35 km², or 3,500 ha) in the Para District of Suriname.
The company states that no other ASX-listed Australian company holds rights to granted gold tenure in Suriname, positioning CRR as the first mover on the ASX in what is an emerging gold jurisdiction attracting significant institutional capital.
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Proximity to a major producer: the Rosebel gold district
The Greenstars project sits approximately 35 km west of Zijin Mining’s Rosebel gold mine, Suriname’s first large-scale open-pit gold operation. Rosebel reportedly produced approximately 5.65 Moz of gold between 2004 and 2021, and reported gold production of 306,535 oz in 2025, up 5.5% on the previous year. Zijin Mining acquired Rosebel from IAMGOLD for US$360 million, completing in January 2023, and mine and plant expansions are reportedly under way.
The Saramacca deposit, approximately 34 km south-east of the Greenstars project, demonstrates how the Rosebel operation draws on satellite deposits within trucking distance of its plant. IAMGOLD declared reserves at Saramacca in 2018 and developed it as a satellite ore source, trucking ore approximately 36 km along a purpose-built haul road to the Rosebel plant.
Rosebel is reported to hold an 11.6 Moz Au resource (per Zijin Mining’s public disclosures, not reported in accordance with the JORC Code).
It is important to note that proximity to Rosebel and Saramacca does not indicate or guarantee mineralisation on the Greenstars project. No Exploration Results have been reported for the project, and Greenstars is an early-stage exploration project at this time.
What is the Guiana Shield, and why are major gold investors paying attention?
The Greenstars project sits within the Paleoproterozoic greenstone terrane of the Guiana Shield, the same ancient geological formation that hosts Suriname’s major gold operations including Rosebel and Saramacca. The Guiana Shield is a greenstone belt — a region of ancient metamorphosed volcanic and sedimentary rocks that, across Suriname, typically hosts orogenic gold mineralisation. In plain terms, orogenic gold forms when gold-bearing fluids migrate through rock fractures during mountain-building events, concentrating gold along quartz veins, rock-type boundaries, and shear zones.
Key geological and access characteristics of the Greenstars project include:
- Paleoproterozoic greenstone terrane, the same geological setting as Rosebel and Saramacca
- Target gold style: orogenic, associated with quartz veining, lithological contacts, granitoid margins and shear zones, beneath a deep tropical weathering profile
- Active artisanal (garimpeiro) alluvial gold workings on the tenement, providing a practical signal of gold presence
- Road-accessible from Paramaribo, the capital, at approximately 85 km via Zanderij and Loksie Hatti, keeping mobilisation costs low
The jurisdiction is drawing serious institutional capital. Major gold investors are actively backing explorers working in the same Suriname greenstone belt:
- Gold Fields completed a C$77 million investment in Founders Metals in September 2026, lifting its stake to approximately 19.9%
- La Mancha holds 19.9% stakes in both Miata Metals and Greenheart Gold
- All three are Canadian-listed explorers operating in the same Suriname greenstone belt as CRR’s projects
Disciplined deal structure: how CRR is managing risk
The acquisition terms for Greenstars reflect a staged, low-commitment structure. Before completion, CRR’s total financial exposure is capped at US$40,000, and the company retains the right to withdraw at any time.
Managing Director Tim Wither
“We have structured the acquisition with discipline, and we can withdraw at any time. Costs to Completion will be met from our existing cash reserves. Our plan is clear: confirm the title, test the ground and let the results drive the next step. On completion, Greenstars and Gonini would give Critical Resources two complementary granted gold projects in Suriname.”
The full acquisition term structure is summarised below:
| Payment Stage | Type | Amount | Timing | Condition |
|---|---|---|---|---|
| Exclusivity fee | Cash | US$10,000 | Paid | Non-refundable |
| Signing payment | Cash | US$30,000 | On execution of formal agreement | In addition to exclusivity fee |
| Completion payment | Cash + Shares | US$170,000 + 2,500,000 CRR shares | On satisfaction of conditions precedent | Conditions precedent met |
| Year 2 deferred | Cash | US$200,000 | Year 2 post-Completion | Post-Completion |
| Year 3 deferred | Cash | US$350,000 | Year 3 post-Completion | Post-Completion |
Total cash consideration is US$750,000 over three years, in addition to the US$10,000 exclusivity fee.
Additional key deal terms include:
- Joint venture structure: CRR 90% / Vendor 10%, with the Vendor’s interest free-carried to a decision to mine
- After a decision to mine, the Vendor may contribute pro rata or convert its interest into a 1.0% net smelter return royalty
- CRR may purchase the net smelter return royalty for US$1,000,000
- Conditions precedent include: renewal of the exploitation right (which runs to May 2027), prior written approval of the Minister of Natural Resources, written GMD confirmation of good standing, and resolution of any third-party mining activity on the right
- All liabilities arising from activities on the right before completion remain with the Vendor
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What comes next: the exploration roadmap
CRR’s approach is to verify previous exploration data with its own independent work before committing to larger programs. The planned exploration sequence for Greenstars is:
CRR’s parallel work confirming gold-antimony bedrock at Croesus in New Zealand illustrates the company’s approach of applying systematic sampling and independent verification before committing to larger drill programs, the same discipline it has outlined for Greenstars.
- Site visit and community engagement during the exclusivity period, including inspection of the right, its access, and engagement with local communities and any small-scale operators active on the right
- Data compilation, covering recovery of the Vendor’s original field records and laboratory certificates, integrated with regional GMD mapping and remote-sensing structural interpretation
- Due diligence sampling, comprising stream-sediment, soil and regolith sampling over Vendor-identified prospective areas, with appropriate QA/QC procedures and analysis by an accredited laboratory
- First-pass auger geochemistry, a systematic programme across the full right, sampling beneath transported cover and into saprolite, subject to conditions precedent being met
On completion of both proposed acquisitions, CRR would hold two complementary granted gold projects in Suriname: Gonini, providing scale at approximately 164 km² in the historic Sara Creek district, and Greenstars, offering road access from Paramaribo and proximity to established mining infrastructure around Zijin’s Rosebel operation. The company states it continues to review further gold opportunities in Suriname and the wider Guiana Shield, and will pursue only those that meet its criteria for title, access and cost of entry.
The Suriname acquisitions sit alongside a broader CRR gold exploration strategy that already spans the Otago gold corridor in New Zealand, where the company secured entry into ground near the Macraes operation, reflecting a consistent preference for tenure adjacent to established producers.
Investors should note that completion of both acquisitions remains subject to conditions precedent that may not be satisfied. No Mineral Resources or Ore Reserves have been estimated for Greenstars, no Exploration Results are reported, and the project is at an early stage of exploration.
Ready to Explore CRR’s Growing Suriname Gold Portfolio?
Critical Resources is rapidly assembling a first-mover position on the ASX in Suriname, with two complementary granted gold projects totalling approximately 199 km² in a greenstone belt attracting serious institutional capital from the likes of Gold Fields and La Mancha.
Visit the Critical Resources investor profile on Discovery Alert to track the Greenstars and Gonini projects as the company moves from exclusivity through to its systematic exploration roadmap.