The Greenstars project comes with a granted gold exploitation mining right covering 35 square kilometres in the Para District of Suriname. The acquisition follows Critical's exclusive right to acquire a 90 per cent stake in the Gonini gold project, announced mid-last week.
Both projects are located near major gold operations: 35 kilometres from Chinese giant Zijin Mining's Rosebel gold project, which has produced close to six million ounces since 2004, and within 100 kilometres of Newmont Corporation's Merian gold mine, which holds a near-four-million-ounce gold resource.
Subject to completing both proposed acquisitions, Critical will hold a 90 per cent interest in 199 square kilometres of granted gold mining rights. The company would become the only ASX-listed entity with rights to granted gold tenure in the region.
Critical secured a 60-day exclusivity period with a US$10,000 (A$14,250) non-refundable payment and a further US$30,000 signing payment upon execution of the formal agreement.
"Greenstars is the second step in building our Suriname portfolio," Critical Resources managing director Tim Withers said.
The company's strategic move into Suriname, on the Atlantic coast bordering Brazil, provides first-mover advantages for the junior explorer in the prospective Guiana Shield gold province.