https://www.engineeringnews.co.za

Sarama formalises accord to buy Orezone’s Bondi project, places scrip in escrow

13th December 2016

By: Henry Lazenby

Creamer Media Deputy Editor: North America

  

Font size: - +

VANCOUVER (miningweekly.com) – TSX-V-listed Sarama Resources has formalised an agreement to acquire the Bondi gold project from Orezone Gold, in Burkina Faso, having placed common shares as payment in escrow, pending government approvals and the transfer of the underlying Djarkadougou exploration permit.

“We look forward to the completion of this transaction, which will result in Sarama having significant interests in three advanced gold projects that, collectively, provide optionality and pathways for potential project development,” commented president and CEO Andrew Dinning.

Sarama considers the Bondi gold deposit, which is located about 30 km from its South Houndé and Karankasso projects, in south-western Burkina Faso, an opportunity to ultimately combine the three deposits by trucking feed to a central processing facility.

The transaction, announced in May, will bolster its position in the region, where it has a 2.1-million-ounce inferred resource at the 75%-owned South Houndé project and a 700 000 oz inferred gold resource at the 75%-owned Karankasso joint venture, where it holds a 31% interest.

On closing, Sarama will control 100% of the Bondi deposit and the surrounding Djarkadougou exploration permit.

Bondi is located contiguous with the South Houndé project, containing an historical estimate of 280 000 oz gold in the measured and indicated categories and 150 000 oz in the inferred category.

Edited by Samantha Herbst
Creamer Media Deputy Editor

Comments

Showroom

AutoX
AutoX

We are dedicated to business excellence and innovation.

VISIT SHOWROOM 
Weir Minerals Africa and Middle East
Weir Minerals Africa and Middle East

Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 19 April 2024
Magazine round up | 19 April 2024
19th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.079 0.133s - 156pq - 2rq
Subscribe Now