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.