Sarama Resources' Strategic Acquisition

Sarama Resources (ASX:SRR) has completed the acquisition of a majority interest in the Cosmo Gold Project. This underexplored gold project is located in the Eastern Goldfields of Western Australia. Sarama now holds an initial 80% stake, with the option to increase ownership to 100% over two years. The company has started systematic exploration to identify drilling targets.

Summary of Acquisition and Future Exploration Plans

Sarama Resources has finalized its acquisition of a majority interest in the Cosmo Gold Project, securing an initial 80% stake with the potential to reach full ownership within two years. The project spans 580 square kilometers in the Eastern Goldfields of Western Australia, encompassing the historically significant but underexplored Cosmo-Newbery Greenstone Belt. Sarama has already commenced a broad-scale exploration program, including soil geochemistry, to identify viable drilling targets. The project is managed through a joint venture with Cosmo Gold Limited, where Sarama acts as the operator responsible for exploration funding until a 'Decision to Mine' is made. Sarama's strategic vision is to leverage the project's favorable geological settings and historical high-grade gold workings to unlock significant value.

Executive Commentary on Acquisition

The acquisition of the Cosmo Gold Project is a significant milestone for Sarama Resources. It provides us with access to one of the last underexplored greenstone belts in Western Australia. Our systematic exploration program is designed to unlock the potential of this historically rich gold region.