Sarama Resources Ltd. (“Sarama” or the “Company”) (ASX:SRR, TSX- V:SWA) is pleased to present its investor presentation.
50KM UNEXPLORED GREENSTONE BELT IN WA + 0.5M OZ OF GOLD IN WEST AFRICA
Sarama has signed a Non-Binding MOU1 to acquire the Cosmo Newbery Project, highlights include:
- Project situated on one of the last unexplored greenstone belts in Western Australia
- Tenure is contiguous over 583km2 and covers the entire +50 km of greenstone belt
- The belt has seen virtually no modern exploration and no drilling of merit
- Located 95km west of +7Moz Gruyere (Gold Road) and 85km northeast of Laverton
- Documented historical gold workings (discovered in 1890’s)
- Reserve since 1980 but Land access now obtained, easy access via Great Central Road
Material additional value includes:
- Burkina Faso gold assets including 100% owned, 0.5Moz (Inf) Bondi Gold Deposit2
- Significant arbitration claim3
COSMO NEWBERY PROJECT LOCATION
LOOKING FOR GOLD IN AN AREA SURROUNDED BY GOLD
LARGE AND PROSPECTIVE SYSTEM WITH MULTIPLE TARGETS TO BE TESTED
- Cosmo Newbery greenstone belt has clear gold showings and strong geological and structural similarities to the adjacent Dorothy Hills greenstone belt which hosts the +7Moz Gruyere gold deposit
- Project is underlain by prospective volcanic and volcano-sediment rocks with localised intrusives, however is mostly under shallow cover and has seen little to no significant exploration
- A major regional fault/shear system extends for over 50km through the Project
- The fault/shear system combined with granite-greenstone rocks has the potential to provide requisite fluid pathways and favorable host rocks that are amenable to gold mineralization
- Historic, small-scale mining east of this regional system indicates gold deposition in the immediate area
- Soil geochemical and geophysical surveys identified numerous exploration targets for gold and nickel-cobalt
- Currently 8 areas of interest & 17 specific interpreted targets for follow up
Click here for the full ASX Release
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