Tosso Creek  Project

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The 96-square-kilometer Tosso Creek Project is located in southern Suriname, approximately 180 km south of the capital city, Paramaribo. The project can be accessed by boat across the Brokopondo reservoir and then by road. Tosso Creek is situated at the southern end of a highly mineralized sequence of metavolcanics and metasediments known as the Parakama Formation, which extends for over 100 km. The formation hosts numerous artisanal mining operations, including the Sara Kreek gold fields, which lie approximately 34 km northwest of Tosso Creek. Structurally, the region is interpreted to have been isoclinally folded and also crosscut by a major east-northeast – west-southwest structural break. The Central Guiana Shear Zone, associated with Sela Creek and Antino, is approximately 5 km to the west of the project. Reconnaissance mapping by the Company has identified a north-south penetrative structural fabric, with associated foliation, parallel shearing and quartz veining. 

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Geologically, the Tosso Creek project is interpreted to be underlain by both volcano-sedimentary and granitic rock units, with the contact between the two units running diagonally across the property, roughly from the northeast to the southwest corner of the concession. Active alluvial mining continues in several areas on the project, both within the volcano-sedimentary rock units located in the western portion of the project area and proximal to the contact with the granites to the east. Despite the significant occurrences of artisanal mining at Tosso Creek, there is no record of any modern exploration having been carried out to identify the hard rock source of the alluvial gold that has been mined there.

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As part of an initial reconnaissance exploration program at Tosso Creek, the Company completed a soil geochemical survey employing an 800 m by 100 m spaced sampling grid. Results from this program, which are shown in Figure 1, appear to indicate an area of coherent gold anomalies that ranges between 200 and 500 m wide and run the entire length of the project. Soil sample results include numerous relatively high-grade samples, with 10 running greater than 500 ppb gold, including 4 running 1000 ppb gold or higher. The next exploration steps at Tosso Creek are to complete a Phase 2 geochemical survey, which is designed to reduce the grid spacing and to carry out airborne magnetic/radiometric and Lidar surveys. These programs will be followed up by trenching and if warranted, a drill program.