Sarama Resources strengthens gold exploration footprint

Sarama Resources (ASX:SRR) has successfully acquired a majority interest in the Cosmo Gold Project. Located in the underexplored Cosmo-Newbery Greenstone Belt in Western Australia, the project spans 580 square kilometers. This acquisition positions Sarama to potentially capitalize on significant gold exploration opportunities in a prolific region.

Strategic acquisition overview and future outlook

Sarama Resources has strategically acquired an 80% interest in the Cosmo Gold Project, with the potential to increase it to 100% within two years. Situated in a historically underexplored region of Western Australia, the project covers 580 square kilometers and offers significant exploration potential due to its location in a gold-rich area. Sarama has commenced soil geochemistry programs to identify exploration targets, benefitting from improved land access. The project is managed through a joint venture where Sarama leads operations. This acquisition represents a significant step in expanding Sarama's exploration capabilities, with future exploration efforts poised to benefit from modern techniques and enhanced land access. Sarama has met all regulatory requirements and completed the transaction without any finder's fees, ensuring compliance with ASX and TSX-V regulations.

Executive insights on strategic acquisition

The acquisition of the Cosmo Gold Project marks a key milestone for Sarama Resources. This transaction not only enhances our exploration portfolio but also positions us in a unique and prospective region for gold exploration. We are excited about the prospects that lie ahead and are committed to applying modern exploration techniques to unlock the full potential of this underexplored project.