Sport Investors League
  • Politics
  • Stocks
  • Investing
  • Business

Sport Investors League

  • Politics
  • Stocks
  • Investing
  • Business
Investing

Sarama Resources – Key Milestone in Cosmo Gold Project Acquisition

by admin November 5, 2024
November 5, 2024
Sarama Resources – Key Milestone in Cosmo Gold Project Acquisition

Sarama Resources Ltd. (“Sarama” or the “Company”) (ASX:SRR, TSX- V:SWA) is pleased to advise that the shareholders of Cosmo Gold Ltd (“Cosmo”) have voted in favour of Sarama’s acquisition of a majority interest(1) in the Cosmo Gold Project (the “Project”) in Western Australia. This shareholder approval was a key outstanding condition to be satisfied for the Transaction (defined below) to be completed.

The acquisition now has approval from the shareholders of both Sarama and Cosmo and Sarama has received requisite approval and conditional approval from securities exchanges in Australia and Canada respectively. It is anticipated the Transaction will be completed in mid-November 2024.

The 580km² Cosmo Gold Project(2) covers the entirety of the Cosmo-Newbery Greenstone Belt and is located approximately 85km north-east of Laverton in a region known for its prolific gold endowment (refer Figure 1). As one of the last effectively unexplored greenstone belts in Western Australia, the Project presents a unique and compelling opportunity for the Company.

Highlights

  • Sarama acquiring a majority interest in, and control of, Cosmo Gold Project in Western Australia
  • Sarama acquiring an initial 80% interest(1) with ability to increase to 100% in the majority of the Project(1)
  • 580km² landholding capturing +50km strike length in highly prospective gold producing region; 95km from both the world-class Gruyere Mine and Laverton gold district
  • Project captures one of the last effectively unexplored greenstone belts in Western Australia; virtually no effective exploration undertaken for several decades
  • Project is very well located being only a 4 hour drive from Kalgoorlie on predominantly paved roads
  • All shareholders approvals for the Transaction secured
  • Key conditions precedent satisfied and completion of transaction anticipated in mid-November 2024
  • Meetings with Traditional Owners confirm support for Sarama’s involvement and its planned endeavours
  • Soil geochemistry program underway to generate regional targets in unexplored areas

Sarama’s Executive Chairman, Andrew Dinning commented:

“We are pleased to have passed this major milestone and look forward to finalizing the acquisition of a majority interest in the Cosmo Gold Project in the coming weeks. Together with Cosmo, we have commenced our first soil geochemistry program which will continue over the next 6-8 weeks and feed into larger targeting efforts and work up of drill targets for the 2025 exploration season.”

Cosmo Newbery Project

The Project is comprised of 7 contiguous exploration tenements covering approximately 580km² in the Eastern Goldfields of Western Australia, approximately 85km north-east of Laverton and 95km west of the world-class Gruyere Gold Mine. The Project is readily accessible via the Great Central Road which services the Cosmo Newbery Community.

The Project captures one of the last unexplored greenstone belts in Western Australia and with a strike length of +50km, the Cosmo Newbery Belt represents a large and prospective system with gold first being discovered in the area in the 1890’s. Multiple historical gold workings are documented within the Project area and work undertaken to date, has identified multiple exploration targets for follow up.

Despite this significant prospectivity, the Project has seen virtually no modern exploration or drilling of merit due to a lack of land access persisting over a significant period. As a result, the Project has not benefited from the evolution of geochemical and geophysical techniques which now facilitate effective exploration in deeply weathered and complex regolith settings which is particularly pertinent given approximately 75% of the Project area is under cover.

Following the relatively recent securing of land access, the Project is now available for systematic and modern-day exploration programs to be conducted on a broad-scale. It is anticipated that future exploration programs will initially follow-up preliminary targets generated from regional soil sampling and limited reconnaissance drilling programs, a majority of which extended to approximately 5m below surface with a small percentage extending up to 30m below surface.

Click here for the full ASX Release

This post appeared first on investingnews.com

0
FacebookTwitterGoogle +Pinterest
previous post
Augustus Acquires 1,345km2 Gold Exploration Project Near Leonora
next post
Adisyn

Related Posts

RETRANSMISSION: Spearmint Acquires the Sisson North Tungsten Project

February 15, 2025

Critical Metals Corp. Enters Into Share Subscription Facility...

January 22, 2025

QX Resources LtdSecures Option to Additional US Lithium...

September 26, 2024

Copper Price Forecast: Top Trends for Copper in...

January 4, 2025

​Tech 5: CME Lays Plans for Spot Bitcoin...

May 19, 2024

Rare Earths Stocks: 9 Biggest Companies

January 17, 2025

Skyharbour Announces Closing of Private Placement for Gross...

December 21, 2024

Potash Fertilizers: What’s the Difference Between SOP and...

January 24, 2025

Premier1 Lithium

May 31, 2024

Gold and Silver Prices Gain as Fed Holds...

August 1, 2024

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent

    • Strategic Chaos or Tactical Goldmine? What QQQ’s Chart is Whispering Right Now

      June 5, 2025
    • Why ADX Can Mislead You — And How to Avoid It

      June 5, 2025
    • S&P 500 on the Verge of 6,000: What’s at Stake?

      June 5, 2025
    • Speaker Johnson surprised by Musk’s criticism of ‘big, beautiful bill’: He’s ‘flat wrong’

      June 5, 2025
    • There’s a way to aid Gaza. I know, my foundation just helped deliver 7 million meals… without incident

      June 5, 2025

    Categories

    • Business (967)
    • Investing (2,320)
    • Politics (2,873)
    • Stocks (1,054)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: sportinvestorsleague.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 sportinvestorsleague.com | All Rights Reserved