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Sarama Resources Ltd (ASX:SRR)

ALERT: Price-sensitive ASX Announcement for SRR
Current share price for SRR : $0.024 -0.009 (-27.27%)+
Announcement
Release
21 Jul 2026 9:13AM
Price at Release
$0.033
Full Release
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Summary
Riedel Resources Ltd has completed the acquisition of a majority interest in the Cosmo and Mt Venn gold exploration projects from Sarama Resources Ltd, expanding its portfolio in Western Australia's Laverton Gold District. These projects add to Riedel's existing Kingman Project in Arizona, positioning the company as a multi-project explorer in Tier 1 jurisdictions. The Cosmo and Mt Venn projects span a combined area of approximately 1,000 km², featuring unexplored greenstone belts and various gold-in-soil anomalies. Riedel plans to conduct systematic exploration programs, including reconnaissance drilling, following Aboriginal cultural heritage clearance. Sarama now holds a significant equity interest in Riedel, further aligning both companies' interests in the project developments.
Key Points
  • Riedel Resources completed the acquisition of two gold projects in Western Australia.
  • The projects are located in the prolific Laverton Gold District.
  • Riedel now has exposure to both Australian and US Tier 1 jurisdictions.
  • The acquisition includes unexplored greenstone belts with significant gold potential.
  • Sarama Resources holds a 32% equity stake in Riedel following the acquisition.
  • Riedel has received necessary cultural heritage clearances for initial drilling.
  • The projects complement Riedel's existing high-grade Kingman Gold Project in Arizona.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.