
November 04, 2024
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
Sign up to get your FREE
Sarama Resources Investor Kit
and hear about exciting investment opportunities.
- Corporate info
- Insights
- Growth strategies
- Upcoming projects
GET YOUR FREE INVESTOR KIT
The Conversation (0)
20 May
Sarama Resources
Investor Insight
Sarama Resources offers a compelling investment opportunity driven by a +US$120 million fully-funded arbitration claim and two new belt-scale gold projects encompassing 1,000 km2 of the Cosmo Newbery and Jutson Rocks Greenstone Belts in Western Australia’s prolific Eastern Goldfields.
Overview
Sarama Resources (TSXV:SWA,ASX:SRR) is an Australian gold exploration and development company with two key value drivers: a fully funded, multi-million-dollar arbitration claim and two highly prospective gold projects in Western Australia’s Eastern Goldfields. Each of these presents significant standalone value, while together they offer strong upside and optionality for investors.
Sarama recently secured the Cosmo Newbery and Mt Venn Gold Projects, covering 580km² and 420km² respectively. These projects encompass the majority of the greenstone belts they are located within - regions historically underexplored but geologically similar to the nearby Dorothy Hills belt, host to Gold Fields’ +8Moz Gruyere Gold Mine. Both projects offer a compelling exploration opportunity in one of Australia’s most prolific gold provinces.
In parallel, Sarama is advancing a fully funded arbitration claim against the Government of Burkina Faso, seeking no less than US$120 million in damages. The claim is backed by a non-recourse loan facility, with leading international law firm Boies Schiller Flexner - renowned for securing large settlements - engaged to lead proceedings.
The Company is led by a highly experienced board and management team with a strong track record in gold discovery and development, including the +25Moz Kibali Gold Mine and the +3Moz Sanutura Gold Project.
Sarama’s Regional Exploration Strategy
Sarama’s regional strategy is centred on unlocking value across 1,000km² of contiguous, underexplored greenstone terrane in one of Australia’s most productive gold provinces. With 100% control of the Cosmo Gold Belt and a majority stake in Mt Venn, Sarama is strategically positioned between two of the region’s most prolific gold belts - Yamarna/Dorothy Hills to the east and Laverton to the west.
Both projects share key geological signatures with nearby multi-million-ounce deposits and benefit from existing infrastructure and access. The Company’s exploration efforts will focus on high-priority targets across both belts, with systematic programs planned throughout 2025 to rapidly advance discovery.
Together, Cosmo Newbery and Mt Venn offer a rare opportunity to explore at scale in a region that has delivered some of the largest gold discoveries in recent decades - yet remains largely underexplored.
Company Highlights
- Sarama Resources is advancing two key value drivers: a fully funded, multi-million-dollar arbitration claim and two highly prospective belt-scale gold projects in Western Australia’s Eastern Goldfields.
- The flagship Cosmo Gold Project spans 580km², covering much of the underexplored Cosmo Newbery Greenstone Belt. Complementing this, Sarama holds an 80% interest in the 420km² Mt Venn Project, located just 40km from both its Cosmo Project and Goldfields +8Moz Gruyere Gold Mine. The region has remained largely under-explored due to historical access restrictions, leaving considerable untapped potential.
- The Company is also pursuing a fully funded arbitration claim seeking not less than US$120 million in damages from the Government of Burkina Faso. This claim, related to the Sanutura Project, is supported by a non-recourse funding facility covering all legal costs, with formal proceedings initiated in December 2024.
- Sarama is led by a seasoned team with all members having over 30 years’ experience each and a strong track record in gold discovery and development.
Key Projects
Cosmo Newbery Gold Project
The Cosmo Gold Project is a unique, underexplored, belt-scale gold opportunity in Western Australia's prolific Eastern Goldfields. Sarama holds the entire Cosmo Newbery Greenstone Belt under granted exploration licenses covering approximately 583km². The belt is one of the few remaining greenstone belts in Western Australia to have seen little to no modern exploration.
The project is located approximately 85 km northeast of Laverton and 95 km west of the +8Moz Gruyere Gold Mine, operated by Gold Fields and Gold Road. The surrounding region hosts several world-class gold systems, including the Yamarna and Dorothy Hills belts to the east (home to Gruyere, the 1Moz Golden Highway, and 300koz Gilmore deposits) and the Laverton Belt to the west, with over 35Moz in gold endowment and 12Moz of historic production.
Cosmo shares strong geological and structural similarities with these prolific belts. Key elements of orogenic gold systems are present, including:
- Archaean greenstone lithologies
- Crustal-scale shear zones
- Felsic intrusions
- Localised faulting and shearing
- Historic gold mineralisation and high-grade rock chips (up to 52 g/t Au)
Despite gold first being discovered here in the 1890s, the region has seen virtually no modern exploration or drilling, offering a unique opportunity to unlock value in a highly prospective setting.
Project Highlights
- Proven Gold Terrane: Located in a world-class gold province surrounded by major deposits
- Scale and Control: 100% control of the entire Cosmo-Newbery Belt, spanning +50 km of strike
- Underexplored: Minimal historical exploration; no modern drilling of merit
- Historic Potential: Early gold discoveries in the 1890s with artisanal workings still visible
- Strategic Location: Proximal to major gold operations including the Gruyere Gold Mine and multiple large scale mines in the Laverton gold belt
Mt Venn Gold Project
The Mt Venn Gold Project is a large-scale, underexplored gold exploration asset in Western Australia’s Eastern Goldfields, located approximately 40 km east of Sarama’s Cosmo Newbery Gold Project and 40 km west of the +8Moz Gruyere Gold Mine. Sarama holds an 80% interest in the project, which spans 420km² across a substantial portion of the Jutson Rocks Greenstone Belt - a geologically prospective system with gold first discovered in the 1890s.
Mt Venn shares many geological similarities with the Cosmo Project, and is viewed as a complementary, belt-scale exploration opportunity. The project comprises three contiguous exploration tenements and hosts a 35km gold corridor, defined by semi-continuous gold-in-soil anomalies, historic workings, and encouraging drill intercepts. Historic drilling has returned multiple results of merit, including intercepts up to 8.5 g/t Au, over a 4km trend at the Three Bears Prospect.
Geologically, Mt Venn is highly prospective, featuring:
- Archaean greenstone lithologies
- A major regional shear zone running the full 50km length of the belt (1–3 km wide)
- Favourable structural and lithological settings for orogenic gold mineralisation
Despite early discoveries, the project will benefit from a systematic, project-wide approach to exploration and offers substantial discovery potential in a proven gold district.
Project Highlights
- Proven Gold Terrane: Covers a significant part of the Jutson Rocks Greenstone Belt in a region known for major gold discoveries
- Contiguous Tenure: 420km² across three tenements, including a 35km anomalous gold corridor
- Geological Potential: Hosts a large regional shear zone with associated gold mineralisation and strong structural controls
- Historic Workings: Gold discovered in the 1890s; limited systematic follow-up exploration
- Drill-Ready Targets: Historical drilling includes intercepts up to 8.5 g/t Au at the Three Bears Prospect
- Strategic Location: Positioned 40 km from Gruyere (+8Moz), 20 km from the 1Moz Golden Highway deposit, and 40 km from Sarama’s Cosmo Gold Project
Management Team
Andrew Dinning – Executive Chairman
Andrew Dinning is a founder and the Executive Chairman of Sarama Resources. Dinning has over 35 years of experience in the international mining arena and has worked in Australia, the Democratic Republic of Congo, West Africa, the UK and Russia. He has extensive mine management, operations and capital markets experience and has spent most of his career in the gold sector.
Dinning was a Director and President of the Democratic Republic of Congo-based Moto Goldmines Ltd from 2005 to 2009. He oversaw the development of the company's Moto Gold Project (Kibali Gold) from two million to more than 22 million ounces of gold. Dinning took the project from exploration to pre-development. The Moto Gold project was later taken over by Randgold Resources and AngloGold Ashanti for $600 million in October 2009.
Dinning has an MBA, a First-Class Mine Managers Certificate in Western Australia and South Australia and a Bachelor of Engineering in Mining degree.
John (Jack) Hamilton - Vice-president of Exploration
Jack Hamilton is a founder and the Vice President of Exploration at Sarama Resources. Hamilton has 35 years of experience as a professional geologist. Hamilton has worked around the world for international resource companies. Before Sarama, he was the exploration manager for Moto Goldmines in the Democratic Republic of Congo. At Moto Goldmines, he led the team that discovered the main deposits and resource at the world-class Moto Gold Project (now Kibali Gold) which has a resource of more than 22 million ounces.
Hamilton specializes in precious metal exploration in Birimian, Archean and Proterozoic greenstone belts. He has worked and consulted in West, Central and East Africa for the past 30 years with various companies, including Barrick Gold Corporation, Echo Bay Mines, Etruscan Resources Inc, Anglo American, Geo Services International and Moto Goldmines. Whilst at Moto Goldmines, he led the exploration team that took the Moto gold deposit from discovery to bankable feasibility. The Moto gold deposit was later sold to Randgold Resources and AngloGold Ashanti in October 2009.
Paul Schmiede - Vice-president of Corporate Development
Paul Schmiede is a major shareholder and the Vice President of Corporate Development at Sarama Resources. He is a mining engineer with over 30 years of experience in mining and exploration. Before joining Sarama Resources in 2010, Schmiede was Vice President of Operations and Project Development at Moto Goldmines. At Moto Goldmines, he managed the pre-feasibility, bankable and definitive feasibility study for the more than 22 million-ounce Democratic Republic of Congo-based Moto Gold Project (now Kibali Gold). Whilst at Moto Goldmines, he also managed the in-country environment, community studies and pre-construction activities. Before joining Moto Goldmines, he held senior operational and management positions with Goldfields and WMC Resources. At these companies, Schmiede was responsible for underground and open-pit operations as well as project development and planning.
Schmiede holds a first-class mine managers certificate in Western Australia and a Bachelor of Engineering in Mining degree. He is also a fellow of the Australasian Institute of Mining and Metallurgy.
Lui Evangelista - Chief Financial Officer
Lui Evangelista is Sarama's chief financial officer with 35 years of experience in accounting, finance and corporate governance with public companies. He has more than 20 years of experience in the mining industry - 10 years of which have been at the operational and corporate level with companies operating in Francophone Africa.
Evangelista held the positions of group financial controller and acting CFO at Anvil Mining which operated 3 mines in the DRC. He was an integral part of the senior management team that saw Anvil's market capitalization grow from C$100 million in 2005 to C$1.3 billion upon takeover by Minmetals in 2012.
Evangelista holds a Bachelor of Business in Accounting degree, a graduate diploma in business administration and a graduate diploma in applied corporate governance.
Simon Jackson - Non-executive Director
Simon Jackson is a founder, shareholder and non-executive chairman of Sarama Resources. Jackson is a Chartered Accountant with over 30 years of experience in the mining sector. He is the Chairman of Predictive Discovery and Non-Executive Director of African gold producer Resolute Mining. He has previously held senior management positions at Red Back Mining, Orca Gold and Beadell Resources.
Jackson specializes in M&A, public equity capital markets, management and corporate finance. His career has included corporate transactions in Canada, Australia, Africa and Indonesia. He holds a Bachelor of Commerce degree from the University of Western Australia and is a fellow of the Institute of Chartered Accountants in Australia.
Adrian Byass - Non-executive Director
Adrian Byass has more than 30 years of experience in the mining industry. He has focused his career on the economic development of mineral resources. He is skilled in economic and resource geology. Byass has experience ranging from production in gold and nickel mines to the evaluation and development of mining projects with listed and unlisted entities in multiple countries. He has also held executive and non-executive board roles on both ASX and AIM-listed companies.
Byass presently operates in a corporate and market-focused capacity on a national and international basis. He has board-level experience in mine development, capital raising and M&A in Australia and on overseas stock exchanges. Byass has played key roles in a range of exploration and mining projects in Australia, Africa, North America and Europe. These projects were based on a suite of commodities including gold, base and specialty metals.
He holds a Bachelor of Science in Geology and a Bachelor of Economics. Byass is a member of the Australian Institute of Geoscientists, a fellow of the Society of Economic Geology and a competent person for the reporting of mineral resources (JORC 2012).
Michael Bohm - Non-executive Director
Michael Bohm is a seasoned director and mining engineer in the resources industry. His career spans roles as a mining engineer, mine manager, study manager, project manager, project director, and managing director.
He has been directly involved in the development of multiple mines in the gold, nickel, and diamond industries, and made significant contributions to Ramelius Resources during its formative years. This experience is particularly important as Sarama is currently in the process of rebuilding its operations in the Eastern Goldfields region of Western Australia.
He is a current director of ASX-listed Riedel Resources and has previously been a director of ASX listed Perseus Mining, Ramelius Resources, Mincor Resources NL and Cygnus Metals.
Keep reading...Show less
Promising new gold projects in Western Australia, plus a large fully funded arbitration claim.
23 July
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 Eastern Goldfields of Western Australia.
This follows Sarama’s acquisition of a majority interest(3) in the nearby Cosmo Gold Project in December 2024. Together, these acquisitions create a 1,000km² landholding covering two well-positioned and underexplored greenstone belts in the Laverton Gold District, an area which is known for prolific gold endowment and significant recent discoveries (refer Figure 1).
Highlights
- Completion of Transaction for Sarama to acquire a majority interest(1) in, and control of, the Mt Venn Gold Project in Western Australia
- Located in the prolific Laverton Gold District, 35km from the producing Gruyere Gold Mine and less than 20km
- from Gold Road’s Golden Highway Deposit
- Project covers 420km² and features a favourable litho-structural setting, primarily in greenstone rocks
- Includes regional shear zone of ~50km strike length and 1-3km width extending full length of greenstone belt
- Advanced gold targets generated through historical exploration, including broad drill-defined gold mineralisation
- Creates 1,000km² exploration position in the Laverton Gold District, capturing 100km of strike length
- Mt Venn is 40km from Sarama’s Cosmo Project(3) that is target-rich and hosts approximately 45km strike of gold trends up to 1.8km in width(6).
- Initial exploration to be advanced by the recent equity raise of A$2.7M
Sarama’s Executive Chairman, Andrew Dinning commented:
“We are very pleased to have completed the acquisition of a majority interest in the Mt Venn Project, significantly expanding our footprint in the Laverton Gold District and consolidating a 1,000km² landholding with strong discovery potential, in a region that has delivered multiple high-quality gold deposits, including the nearby Gruyere Deposit.
Mt Venn lies just 40km from our Cosmo Gold Project(3), with both showing strong gold anomalism. Cosmo hosts approximately 45km of mineralised gold trends up to 1.8km wide(6), while Mt Venn's soil sampling, historic workings, early drilling, and polymetallic nature highlight potential for a large-scale mineralized system. We see considerable exploration upside across both projects and with compelling targets already identified, we look forward to unlocking their value through focused and systematic exploration.”
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.
Keep reading...Show less
09 July
Completion of Tranche 1 Equity Placement & Cleansing Notice
29 June
A$2.7m Equity Placement to Fund Laverton Drilling Campaign
09 June
Sarama Outlines Extensive Gold Trends at Cosmo Gold Project
2h
Gold Rush 2.0: Why California is Poised for a Mining Renaissance
With modern technology, a rising gold price and renewed government support for domestic mineral production, mining companies and investors are taking a second look at historic districts and brownfield projects once considered uneconomic — and California’s long-overlooked gold deposits are squarely back in focus.
The California Gold Rush of 1848 wasn’t just a pivotal moment in American history — it was one of the most profitable mineral booms ever recorded. Sparked by a discovery at Sutter’s Mill, the gold rush drew over 300,000 people and produced more than 25 million ounces of gold, much of it from the now-famous Mother Lode Belt.
At the peak of the gold rush, California was producing nearly 1 million ounces per year, including an estimated 1.4 million ounces from the Mariposa District alone. However, the low price of gold at the time and limitations with mining methods during the 19th and early 20th century, have left much of the gold-bearing rock unmined.
In 1942, the US government suspended domestic gold mining to redirect labor and resources toward the war effort, effectively ending large-scale mining in the state. Many operations never resumed, leaving significant in-ground mineral potential untapped.
Today, California remains an important resource-producing state. According to the California Department of Conservation, the state hosts 700 active mines, including 14 gold mines.
California is also a key domestic energy hub — as of early 2025, 123,000 barrels of oil and 159 million cubic feet of natural gas are produced daily, according to California Resources Corporation.
Geopolitics and rising gold prices: A prime investment opportunity
The gold price climbed to around US$3,364 per ounce in July 2025, with analysts from firms like JPMorgan Chase (NYSE:JPM) projecting an increase to US$3,675 by year end.
The trend has sparked heightened interest in the gold mining sector as investors look to leverage this upward trajectory. This comes amid rising geopolitical tensions, volatile monetary policy and growing political uncertainty in major economies — conditions that have historically increased demand for gold as a safe-haven asset.
This surge is also aligning with favorable policy shifts. The Trump administration’s March 2025 executive order to expedite the extraction of critical minerals — including gold — is expected to streamline permitting timelines, particularly for projects in domestic US jurisdictions.
As a result, companies are increasingly turning to historically prolific but previously overlooked mining regions, such as parts of California, which had fallen out of favor due to cost, regulatory or price-related barriers. The combination of high prices, strategic urgency and permitting reform is making these areas viable again.
Federally designated Opportunity Zones are even more attractive to investors as they provide incentives like capital gains deferral and tax exemptions. For example, Mariposa County, a significant site during the gold rush era, is a designated Opportunity Zone and is home to Lode Gold Resources’ (TSXV:LOD,OTCQB:LODFF) Fremont project.
The convergence of multiple favorable factors — an elevated gold price, growing strategic urgency, evolving federal priorities around domestic mineral supply and investment incentives — has created a perfect storm for renewed interest in historically rich districts like Mariposa.
Leaders advancing California’s mining sector
California’s mining landscape is anchored by a trio of strong operators delivering tangible results:
- Equinox Gold (TSX:EQX,NYSEAMERICAN:EQX), led by its chairman and Canadian Mining Hall of Fame inductee Ross Beaty, acquired the Castle Mountain mine in December 2017 for about $200 million. The company successfully advanced the project from acquisition to Phase 1 production in just three years, achieving first gold pour in 2020. This was made possible in part through the permitting expertise of Martin Stratte, a specialist in California mining projects, who now serves as permitting advisor on other in-state developments, such as Lode Gold’s Fremont mine. Since 2020, Castle Mountain’s Phase 1 heap-leach operations have produced roughly 30,000 to 45,0000 ounces per year, and its Phase 2 expansion — supported by a 2021 feasibility — targets ~218,000 ounces annually over 14 years.
- Andean Precious Metals (TSXV:APM,OTCQX:ANPMF), formerly Golden Queen, has reactivated the Soledad Mountain mine, which has produced over 340,000 ounces of gold since the mid‑2016. Following its 2023 acquisition, the mine generated approximately 18,400 ounces of gold in Q4 2023. In 2024, Soledad Mountain contributed around 54,275 gold equivalent ounces across Andean’s operations.
- Blue Moon Metals (TSXV:MOON,OTCQX:BMOOF) is advancing the Blue Moon polymetallic volcanogenic massive sulfide critical metals project in Mariposa County. In mid‑2025, the company received Bureau of Land Management approval to develop a portal and underground decline for exploration — a milestone aligned with the March 2025 federal executive order to increase domestic mineral production. With permitting achieved, site prep is underway for a two year drilling program slated to commence in Q3 2025.
These are just a few examples of active projects in California, each underscoring the state’s untapped potential when aligned with the right operators, policy conditions and permitting strategies.
As geopolitical pressures and supply chain risks intensify, more mining companies and investors are turning their focus to US-based assets, with California re-emerging as a region of interest.
Investment case: Lode Gold reactivating the historic Fremont gold mine
Lode Gold Resources offers a compelling investment opportunity in California’s Mother Lode Belt, a 190 kilometer mineral-rich corridor through the Sierra Nevada foothills from Mariposa to Georgetown holding significant untapped gold potential from historic mines. Despite having produced an estimated 50 million ounces of gold from high-grade quartz veins and orogenic systems in the 20th century, some of these mines were rarely explored beyond 250 meters in depth and remain primed for reactivation.
The Fremont project, located on over 3,000 acres of privately owned land in Mariposa County, is an advanced-stage exploration and early stage development asset with a storied history. The mine was producing gold at 10.7 grams per ton until operations ceased in 1942 due to wartime restrictions when price of gold was US$35 per ounce. The project’s infrastructure — 23 kilometers of underground workings, 14 adits and 43,000 meters of drilling with preserved core samples — supports efficient resource validation and conversion to NI 43-101 compliance.
The project has a 2023 preliminary economic assessment estimating a net present value of nearly $554 million (after tax) at a conservative gold price of US$2,300 per ounce, based on 1 million ounces (indicated) and 2 million ounces (inferred). Payback is 2.5 years with an internal rate of return of 42 percent and a 12 year mine life.
A new 2025 mineral resource estimate (MRE), filed on April 25, 2025, refines the project’s potential by assessing cut-off grades, mined grades and the feasibility of both bulk mining and selective vein extraction.
Using a 1 g/t cut-off grade, the average true width is 53 meters, while a 3 g/t cut off yields 16.8 meters, presenting significant gram-meter values that offer a compelling case for further evaluation of the potential for high-tonnage extraction, particularly through bulk underground mining.
The 2025 MRE also pointed out that 92 percent of the resource has been left unmined.
Lode Gold’s tightly held share structure, with four major shareholders owning half the company, creates strong alignment for advancing the Fremont mine. Key upcoming milestones include completing a prefeasibility study (PFS) within 18 months and a full feasibility study (FS) within 30 months. In the near term, the company will begin channel sampling to upgrade resources and initiate a PFS.
Investor takeaway
California’s gold mining legacy is re-emerging under modern conditions — driven by a high gold price and positive shifts in US mining policies. Lode Gold’s Fremont mine is uniquely positioned to benefit from these changes.
Fremont is brownfield, with a suspended mining license that can be reactivated. It is located in a federally designated Opportunity Zone that provides significant tax incentives.
With four shareholders owing about half the company and a newly completed 10:1 share consolidation, it has a tight share structure. Lode Gold is currently seeking a fifth strategic partner to advance its project quickly, with a plan to complete PFS in 18 months and FS in 30 months, as well as targeting a small-scale pilot plant and its first gold pour in early 2028. With these key milestones, Lode Gold is poised for growth and revaluation.
This INNSpired article is sponsored by Lode Gold Resources (TSXV:LOD,OTCQB:LODFF). This INNSpired article provides information which was sourced by the Investing News Network (INN) and approved by Lode Gold in order to help investors learn more about the company. Lode Gold is a client of INN. The company’s campaign fees pay for INN to create and update this INNSpired article.
This INNSpired article was written according to INN editorial standards to educate investors.
INN does not provide investment advice and the information on this profile should not be considered a recommendation to buy or sell any security. INN does not endorse or recommend the business, products, services or securities of any company profiled.
The information contained here is for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of securities. Readers should conduct their own research for all information publicly available concerning the company. Prior to making any investment decision, it is recommended that readers consult directly with Lode Gold and seek advice from a qualified investment advisor.
Keep reading...Show less
3h
Torex to Acquire Prime Mining in US$449 Million Deal, Expands Mexican Gold-Silver Portfolio
Torex Gold (TSX:TXG,OTCQX:TORXF) is acquiring Prime Mining (TSX:PRYM,OTCQX:PRYM) in an all-share deal worth US$449 million, gaining full control of the Los Reyes gold-silver project in Mexico as it builds out an Americas-focused mining portfolio.
Under the terms of the deal, Torex will gain 100 percent ownership of Prime’s Los Reyes project in Sinaloa, an advanced-stage gold-silver asset with indicated resources of 1.5 million ounces of gold and 54 million ounces of silver, and inferred resources of 538,000 ounces of gold and 21.6 million ounces of silver.
“This acquisition supports our strategy to systematically build a diversified, Americas-focused precious metals producer,” Torex CEO Jody Kuzenko said in a recent press release.
“Los Reyes has multiple high-potential mineralized zones which remain open along strike and at depth, and we are confident that the project has strong untapped upside with numerous avenues for growth,” Kuzenko added.
Upon completion, Prime shareholders will own approximately 10.7 percent of Torex. About 10.5 million Torex shares will be issued to complete the deal.
Torex already operates the Morelos Complex in Guerrero, Mexico, home to its El Limón Guajes and newly commissioned Media Luna mines. The company produced more than 450,000 ounces of gold in 2024, making it Mexico’s largest gold producer that year.
It also recently announced the all-cash acquisition of Reyna Silver (TSXV:RSLV,OTC:RSNVF) a transaction scheduled for shareholder approval in August.
Torex plans to apply its in-country project development team and free cash flow from Media Luna to fund the Los Reyes buildout without requiring additional external financing.
“In addition to gaining exposure to Torex’s free-cash flowing Morelos Complex, Prime Mining shareholders can continue to realize significant value creation as Los Reyes is developed with the benefit of Torex’s operational and development experience in Mexico,” said Prime CEO Scott Hicks.
Torex will add 1.5 million ounces of gold in the indicated category and 538,000 ounces in inferred resources through the acquisition, increasing its total measured and indicated resources by 32 percent to 6.2 million ounces and inferred resources by 44 percent to 1.8 million ounces.
It also adds substantial silver exposure through Los Reyes’ combined 75.6 million ounces of indicated and inferred silver resources.
The Los Reyes land package also includes three key mineralized zones, namely Z-T, Guadalupe East, and Central, along with other several underexplored targets.
Torex expects to leverage its permitting and construction track record to advance Los Reyes efficiently. The company completed the US$800 million El Limón Guajes mine in 2015 and brought the US$1 billion project Media Luna into commercial production in May of this year.
The transaction remains subject to regulatory approvals and the approval of Prime shareholders. It is expected to close in the fourth quarter of 2025.
Don't forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
Keep reading...Show less
3h
Sranan Gold
Investor Insight
Sranan Gold offers early-stage exposure to a high-impact gold discovery in Suriname’s Guiana Shield, one of the world’s most underexplored gold belts. Backed by the same technical team behind some of the region’s largest gold discoveries, Sranan is a high-leverage discovery story in a mining-friendly jurisdiction.
Overview
Sranan Gold (CSE:SRAN,FSE:P84) is a junior explorer operating in Suriname, a South American nation producing more than 600,000 oz of gold per year. Sranan’s main asset is within Suriname’s prolific Guiana Shield, one of the world’s most underexplored gold belts.
Sample collected from the Tapanahony project’s Poeketi pit.
The company’s flagship asset, the 29,000-hectare Tapanahony gold project, overlays a historic mining belt with strong geochemical and structural indicators. Sranan’s objective is straightforward: convert local knowledge, legacy drill data and modern tools into an inaugural gold resource over a 4.5 km mineralized corridor.
Backed by one of the most credentialed gold discovery teams in Suriname, credited for the Merian, Rosebel and Saramacca deposits, the company is targeting hard-rock gold potential beneath proven saprolite zones with plans to fast-track drilling, build community partnerships and expand its concession footprint.
Company Highlights
- District-scale land position: The 29,000-hectare Tapanahony project covers one of Suriname’s oldest and most productive artisanal mining districts, offering untested hard-rock upside within the Guiana Shield, home to numerous multi-million-ounce gold deposits.
- Immediate drill targets: A 10,000-metre diamond drilling program is set to kick off in 2025 across the 4.5 km Poeketi-Randy trend, targeting high-grade shear zones validated by historic IAMGOLD drilling.
- World-class discovery pedigree: The technical team has led or co-led discoveries at Merian (7 Moz, Newmont), Rosebel (13.7 Moz, now Zijin) and Saramacca (1.5 Moz).
- Deep in-country knowledge: Geologists are locally trained at Anton de Kom University and have decades of experience in Suriname’s regolith-dominated terrain.
Key Project
Tapanahony Gold Project
The Tapanahony gold project is Sranan’s flagship asset, covering a 29,000-hectare land package in southeastern Suriname. The project lies within the Guiana Shield, a well-endowed Paleoproterozoic terrane that hosts multiple Tier-1 gold systems. The property sits at the intersection of regional NW-striking structures, the large NE-SW Tapanahony structure and older NE-SW fabric, forming a favorable setting for orogenic gold emplacement. These structural fabrics, crenulated by later deformation events, are visible in recent LiDAR and magnetic datasets and provide excellent ground preparation for high-grade shear-hosted deposits.
Local miners have long exploited the saprolite horizons here, especially around the Poeketi-Randy zone, and Sranan’s exploration strategy is to transition that surface gold production into a defined, hard-rock resource. The project has seen more than US$10 million in historical exploration, including geochemical soil surveys, auger and panning programs by the UN and Golden Star, and 4,000 metres of diamond drilling by IAMGOLD. They have confirmed the presence of extensive mineralization, including intercepts such as 4.2 grams per ton (g/t) gold over 13.5 m and 39.3 g/t gold over 2 m at the Randy pit. These results suggest steeply dipping, fault-controlled mineralization within a metavolcanic host package, drawing parallels to the structurally hosted gold at the Saramacca, Antino, Merian and Rosebel mines.
The 2025 Phase 1 program is targeting this trend with 10,000 metres of diamond drilling. It will infill and extend the 4.5 km mineralized corridor and test additional parallel shear zones revealed by LiDAR and soil geochemistry in the western lobe of the concession. Sranan plans to reprocess historical drill data, conduct soil/silt sampling, trenching and trench mapping, with field teams prioritizing locations where artisanal mining is ongoing but remains underexplored by modern methods.
Geophysical interpretation highlights a property-scale NW shear zone crosscutting a penetrative NE-SW fabric, which has led to localized folding and thickened mineralized zones. Commonly described by the team as the “double folded” system, they extend across eastern Suriname into Guyana and French Guiana. This orogenic system is thought to be analogous to the geology that underpins other major discoveries in the belt.
Sranan’s Phase 1 campaign also aims to generate new targets through high-resolution LiDAR imaging, which has already revealed three parallel mineralized corridors and topographic inversions associated with lateritic terraces, a common concealment mechanism for mineralization in this region. Pending early success, the company plans to expand drilling into the western lobe, pursue adjoining concessions, and delineate a resource.
Management Team
Oscar Louzada – CEO and Director
Fluent in Dutch and active in Suriname for over a decade, Oscar Louzada has taken two Suriname-based exploration companies to IPO (Sela Kriki and Nassau, now Miata Metals). With 25+ years’ experience in natural resources finance (Canaccord, Investec), he brings capital markets depth and local execution credibility.
John Williamson – Chairman
Geologist and co-founder of Founders Metals, John Williamson is credited with >10 Moz in gold discoveries and nearly $1 billion raised. He was an early believer in Tapanahony’s potential and a key seed investor.
Dennis LaPoint – EVP, Exploration and Corporate Development
Dennis LaPoint is a veteran geologist with 35+ years’ experience. LaPoint discovered Merian (Newmont, 7 Moz) and oversaw major exploration programs at Rosebel and Omai. He leads strategy and resource targeting, and sits on multiple boards, including ASBOG. He also teaches geology at Anton de Kom University in Paramaribo in Suriname.
Rayiez Bhoelan – VP, Exploration
A Surinamese national and key member of the Saramacca discovery team (IAMGOLD, 1.5 Moz), Rayiez Bhoelan specializes in regolith geology and shear zone mapping. He has worked across the Guiana Shield at Omai and Founders Metals, and lectures locally on geochemistry.
Mario Stifano – Director and Audit Chair
Mario Stifano is a CPA and seasoned mining executive with prior leadership roles at Cordoba Minerals, Lake Shore Gold and Galantas Gold. He led the 2020 acquisition and re-listing of Omai Gold Mines in Guyana.
Keep reading...Show less
24 July
Aurum hits 1.43m at 234.35 g/t gold from 107m at BMT3
24 July
Newmont Uses Drones, Remote Equipment to Reach Trapped Miners in Red Chris Mine
Newmont (TSX:NGT,NYSE:NEM) has deployed drones and a remote-controlled scoop to help rescue three workers trapped underground since Tuesday (July 22) at its Red Chris gold mine in BC.
The incident occurred during work on a non-producing section of the mine’s underground development project.
According to the company, the three contract employees were initially located more than 500 meters beyond the site of the first collapse. They were directed to relocate to a designated refuge chamber before a second fall of ground sealed off the access way and disrupted communication.
“Following the first event, contact was established with the individuals and confirmation was received that they had safely relocated to one of multiple self-contained refuge bays,” Newmont said in a Wednesday (July 23) statement. “The refuge stations are equipped with adequate food, water and ventilation to support an extended stay.”
The company is using aerial drones to assess underground conditions, while a remote-controlled scoop has been deployed from Newmont’s Brucejack mine, also in BC.
It will begin clearing the estimated 20 to 30 meters of debris obstructing the tunnel.
Communication with the trapped miners remains severed after the second collapse, but the company said the men are believed to be sheltering in a chamber designed to support up to 16 people.
Operations at Red Chris have been suspended to focus entirely on rescue efforts. The company said that it has activated emergency protocols and assembled specialized rescue teams from nearby mine sites.
While the full extent of the damage underground is still being assessed, the use of unmanned equipment is intended to reduce risk to emergency personnel while the area remains geotechnically unstable.
Newmont has not provided an estimated timeline for reestablishing contact or extracting the workers, but emphasized that all available technology and expertise are being brought to bear.
The Red Chris mine, located roughly 80 kilometers south of Dease Lake and more than 1,000 kilometers north of Vancouver, is operated by Newmont under a 70/30 joint venture with Imperial Metals (TSX:III,OTC:IPMLF).
The operation has been producing since 2015, though the incident occurred in a non-producing development zone.
Last year, Red Chris produced approximately 40,000 ounces of gold, making it one of the smaller contributors in Newmont’s global portfolio. The company acquired its majority stake in the mine through its 2023 purchase of Newcrest Mining, which previously managed the asset.
Don't forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
Keep reading...Show less
Latest News
Sign up to get your FREE
Sarama Resources Investor Kit
and hear about exciting investment opportunities.
- Corporate info
- Insights
- Growth strategies
- Upcoming projects
GET YOUR FREE INVESTOR KIT
Latest Press Releases
Related News
TOP STOCKS
American Battery4.030.24
Aion Therapeutic0.10-0.01
Cybin Corp2.140.00