West African Gold Explorer & Developer, Sarama Resources, Lists on ASX, Raises A$8M

PERTH, AUSTRALIA and VANCOUVER, BC / ACCESSWIRE / May 2, 2022 / Sarama Resources Ltd. (" Sarama " or the " Company ") (ASX:SRR)(TSX-V:SWA) is pleased to announce that the Company's securities have commenced trading on the Australian Securities Exchange (" ASX ") under the ASX code SRR following a strongly supported public offering which saw A$8M 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 (the " Project "), which hosts a multi-million ounce Mineral Resource and a suite of targets that provide significant exploration upside.

Highlights.

Foto: Accesswire

Sarama's President, CEO & MD, Andrew Dinning commented:

"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. 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 program 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."

Project Portfolio - Multi Project Exposure in Burkina Faso

Sarama is a West African-focused gold explorer/developer and holds a commanding land position of approximately 1,900km² across two 100%-owned projects in highly prospective Houndé and Banfora Belts in Burkina Faso.

The Company's flagship Sanutura Project has an existing multi-million ounce Mineral Resource of 0.6Moz Au (Indicated) plus 2.3Moz Au (Inferred)⁽¹⁾ with significant growth potential available from its position along 70km of strike in one of the most prolific gold belts in West Africa, the Houndé Belt.

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