Sarama Resources Completes Acquisition of Mt Venn Gold Project, Expands Landholdings to 1,000km² in Laverton Gold District

Sarama Resources has completed the acquisition of a majority interest in the Mt Venn Gold Project in Western Australia, increasing its landholdings to 1,000km² in the Laverton Gold District. The project features a favourable litho-structural setting and advanced gold targets generated through historical exploration. The acquisition creates a 1,000km² exploration position, capturing 100km of strike length, and is 40km from Sarama's Cosmo Project. Initial exploration will be advanced by a recent equity raise of A$2.7M.

Sarama Resources (SRMMF) has completed the acquisition of a majority interest in the Mt Venn Gold Project in Western Australia, significantly increasing its landholdings in the Laverton Gold District to 1,000km². The acquisition, combined with the December 2024 Cosmo Gold Project purchase, creates a substantial landholding that spans two belt-scale projects, covering 1,000km² [1].

The Mt Venn Gold Project, located approximately 35km from the producing Gruyere Gold Mine, features a 50km strike length regional shear zone and includes historical high-grade gold discoveries from the 1920s. The project is situated within the Eastern Goldfields of Western Australia, approximately 110km north-east of Laverton and 35km west of the Gruyere Gold Mine. The acquisition includes 12 million Chess Depository Instruments (CDIs) and approximately A$39,900 in project fees [1].

The Mt Venn Project captures the majority of the underexplored Jutson Rocks Greenstone Belt, with a diverse sequence of volcanic lithologies and pyroclastics, and is considered prospective for gold, base metals, and platinum group elements. Historical exploration work has identified several km-scale gold-in-soil anomalies and copper mineralisation, providing a solid platform for further exploration [1].

Sarama's Executive Chairman, Andrew Dinning, commented on the acquisition, highlighting the project's potential and the company's strategic position in the Laverton Gold District. "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," Dinning said [1].

The transaction consideration includes 12 million CDIs, a A$20,000 exclusivity fee, and approximately A$39,900 in project fees. The Mt Venn Project is operated under a joint venture with Cazaly Resources Limited, which maintains a 20% interest. Sarama recently raised A$2.7M to advance initial exploration activities [1].

The acquisition positions Sarama with a significant exploration footprint in the Laverton Gold District, a prolific gold district known for recent discoveries. The project's favourable litho-structural setting and advanced gold targets generated through historical exploration provide a strong foundation for future exploration and development [1].

References:
[1] https://www.stocktitan.net/news/SRMMF/sarama-resources-completes-mt-venn-gold-project-gonoq1xb5b7x.html