Sarama Resources

Sarama Resources - Key Milestone in Cosmo Gold Project Acquisition

Cosmo Gold Shareholders Vote in Favour of Transaction

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.

Figure 1 – Cosmo Gold Project Location, Eastern Goldfields, Western Australia


Click here for the full ASX Release

This article includes content from Sarama Resources, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

SRR:AU
The Conversation (0)
Q2 2025 Interim Financial Statements

Q2 2025 Interim Financial Statements

Sarama Resources (SRR:AU) has announced Q2 2025 Interim Financial StatementsDownload the PDF here. Keep Reading...
Sarama Provides Update on Arbitration Proceedings

Sarama Provides Update on Arbitration Proceedings

Sarama Resources (SRR:AU) has announced Sarama Provides Update on Arbitration ProceedingsDownload the PDF here. Keep Reading...
Sarama Resources Completes Mt Venn Gold Project Acquisition

Sarama Resources Completes Mt Venn Gold Project Acquisition

Landholdings Increased to 1,000km² Over Two Belt-Scale Projects in Laverton Gold District

Sarama Resources Ltd. (“Sarama” or the “Company”) (ASX:SRR, TSX- V:SWA) is pleased to advise that it has completed the previously announced acquisition (the “Transaction”) of a majority interest(1) in the under-explored, belt-scale 420km² Mt Venn Project (the “Project”)(2), located in the... Keep Reading...
Completion of Tranche 1 Equity Placement & Cleansing Notice

Completion of Tranche 1 Equity Placement & Cleansing Notice

Sarama Resources (SRR:AU) has announced Completion of Tranche 1 Equity Placement & Cleansing NoticeDownload the PDF here. Keep Reading...
A$2.7m Equity Placement to Fund Laverton Drilling Campaign

A$2.7m Equity Placement to Fund Laverton Drilling Campaign

Sarama Resources (SRR:AU) has announced A$2.7m Equity Placement to Fund Laverton Drilling CampaignDownload the PDF here. Keep Reading...
5m @ 13.1g/t Gold Intersected within 20m Mineralised Zone in First Drill Hole to Test New Target at Titan East

5m @ 13.1g/t Gold Intersected within 20m Mineralised Zone in First Drill Hole to Test New Target at Titan East

Artemis Resources (ASX: ARV) (Artemis or the Company) is pleased to report a high-grade gold intersection in the first RC hole testing an interpreted NE trending shear zone at the Titan East Prospect, 1.5km west of the Carlow gold-copper resource1. HighlightsFirst Reverse Circulation (RC) drill... Keep Reading...
Patrick Tuohy, gold bars and silver chart.

Patrick Tuohy: Gold's Status Has Changed, Higher Price is Inevitable

Patrick Tuohy, global head of sales and marketing Goldstrom, shares his outlook for gold, saying its position as a store of value has been reestablished.In his view, the yellow metal has found a new price floor at US$3,000 per ounce. Don’t forget to follow us @INN_Resource for real-time... Keep Reading...
Total Metals (TSXV:TT)

TSX-V: TT Closes Acquisition of High Lake and West Hawk Lake from McFarlane Lake Mining and Closing of Final Tranche of Non-Brokered Private Placement

Total Metals Corp. (“Total Metals” or the “Company”) (TSX-V: TT) (FSE: O4N) is pleased to announce the closing of its acquisition of the High Lake and West Hawk Lake (the “Projects”) from McFarlane Lake Mining Corporation (“MLM”), as previously announced on September 24, 2025 (the... Keep Reading...
Map with a red pin marking Ghana, near Côte d'Ivoire and Benin.

Newmont Declares Commercial Production at Ahafo North Gold Mine

Newmont (NYSE:NEM,ASX:NEM) announced that its Ahafo North project in Afrisipakrom, Ghana, has officially entered commercial production, following the site's first gold pour last month. Located about 50 kilometers from Newmont’s existing Ahafo South operation, the Ahafo North mine is expected to... Keep Reading...
Diamond Drilling Commenced at Paranaíta Gold Project

Diamond Drilling Commenced at Paranaíta Gold Project

Visually mineralised targets being drilled to build on existing resource

Jangada Mines Plc (AIM: JAN), a Brazil focused natural resource development company, is pleased to announce that its 15-hole 1,800m diamond drilling ("DD") programme has commenced at the 7,211-hectare Paranaíta Gold Project ("Paranaíta" or the "Project") located in Brazil's historically... Keep Reading...
Lahontan Gold (TSXV:LG)

Lahontan Recieves $4,316,948 From the Exercise of Warrants and Options

Lahontan Gold Corp. (TSXV:LG)(OTCQB:LGCXF) (the "Company" or "Lahontan") is pleased to announce the receipt of Cdn $4,316,948 from the exercise of warrants and stock options during the period July 4 through October 23, 2025. Following the exercise of the warrants, stock options, and the issuance... Keep Reading...

Latest Press Releases

Related News