Sarama Expands Laverton Landholding to 1,000km² with Mt Venn Deal
Sarama Resources has completed the acquisition of an 80% stake in the Mt Venn Gold Project, boosting its Laverton landholding to 1,000km² across two major projects. The move positions Sarama to explore promising gold and base metal targets in a prolific Australian gold district.
- Acquisition of 80% interest in 420km² Mt Venn Gold Project completed
- Laverton landholding expanded to 1,000km² including Cosmo Gold Project
- Joint venture with Cazaly Resources holding 20%, Sarama as operator
- Strong gold anomalism and multiple drill-ready targets identified
- A$2.7 million equity raise to fund initial exploration activities
Strategic Expansion in a Prolific Gold District
Sarama Resources Ltd has officially completed the acquisition of a majority 80% interest in the Mt Venn Gold Project, a significant step that expands its exploration footprint in Western Australia's Laverton Gold District to a substantial 1,000 square kilometres. This acquisition complements Sarama's existing Cosmo Gold Project, located just 40 kilometres away, creating a contiguous landholding that covers two underexplored greenstone belts known for their gold potential.
Project Highlights and Geological Potential
The Mt Venn Project spans approximately 420 square kilometres and is situated near established gold deposits, including the prolific Gruyere Gold Mine. The project area features a favourable litho-structural setting with a regional shear zone extending around 50 kilometres, which is a key structural feature often associated with gold mineralisation. Historical exploration has revealed broad gold mineralisation and polymetallic signatures, with several drill-ready targets identified but yet to be fully tested.
Notably, previous drilling at the Three Bears Prospect within Mt Venn intersected broad zones of gold mineralisation, underscoring the project's potential. Beyond gold, the area shows promise for base metals such as copper, nickel, and zinc, which adds further exploration upside.
Joint Venture Structure and Funding
The acquisition was structured through a joint venture with Cazaly Resources Limited, which retains a 20% interest while Sarama operates and manages the project. Sarama has committed to funding all exploration costs during the initial phase, supported by a recent A$2.7 million equity raise. This financial backing will enable Sarama to advance systematic exploration programs aimed at unlocking the value of both Mt Venn and Cosmo projects.
Outlook and Strategic Implications
Executive Chairman Andrew Dinning highlighted the strategic importance of consolidating a large landholding in a region with proven gold endowment and infrastructure. The proximity to existing mines and transport routes lowers the threshold for economic discovery, potentially accelerating project development timelines. Sarama’s approach focuses on leveraging historical data and modern exploration techniques to identify high-quality targets, aiming to replicate the success of nearby deposits.
While the acquisition marks a major milestone, the company acknowledges the inherent risks of exploration, including the uncertainty of converting mineralisation into economically viable resources. The future involvement of Cazaly in funding and project decisions remains to be seen, which could influence the joint venture dynamics.
Bottom Line?
Sarama’s expanded Laverton presence sets the stage for a pivotal exploration phase that could reshape its growth trajectory.
Questions in the middle?
- What initial exploration results will Sarama report from Mt Venn and Cosmo in the coming months?
- Will Cazaly Resources continue to fund its 20% share or opt to withdraw, impacting ownership and royalties?
- How will gold price trends and regional infrastructure developments influence Sarama’s project economics?
