Sarama Resources Ltd (ASX:SRR, TSXV:SWA) has commenced trading on the Australian Securities Exchange (ASX) under the ASX code SRR following a strongly supported public offering which saw A$8 million raised predominantly from a broad base of domestic and international institutional and sophisticated investors.
The funds will primarily be used to recommence exploration at the company’s Sanutura Project in Burkina Faso, which hosts a multi-million ounce Mineral Resource and a suite of targets that provide significant exploration upside.
“Sarama is delighted to have attracted the support of several high quality domestic and international institutional and sophisticated investors who have joined our existing shareholders and so enthusiastically backed our plans to grow and exploit the multi-million ounce Sanutura Gold Project,” President, CEO and MD, Andrew Dinning, said.
“Burkina Faso is well-known to the Australian market for its prospective greenstone belts which have frequently delivered multi-million ounce discoveries in recent times, leading to the development of a new generation of highly profitable mines.
“The company has planned a large scale, +50,000m drill programme to grow the Mineral Resource at the Sanutura Project which will be the first major drill campaign conducted at the Project since 2017 and will produce strong news flow over the coming months.
“The company’s ASX listing and associated equity raising was an essential precursor to re-activating the Project and with that completed, we now look forward to advancing the Project, initially focusing on drilling the resource growth-oriented targets which offer immediate opportunity for value accretion.” •
A +50,000m drill programme will target increases to the Mineral Resource from highly accretive, predominantly shallow, oxide targets
A Mineral Resource update anticipated in 2023, incorporating additional and extensional drilling
For further information please visit: https://saramaresources.com/
