Business
Sarama Resources Confirms Transfer of Djarkadougou Exploration Permit (Bondi Gold Deposit) in Burkina Faso
VANCOUVER, BC--(Marketwired - August 22, 2017) - Sarama Resources Ltd. ("Sarama" or the "Company") (TSX VENTURE: SWA) announces that it has received advice from
About this update from Sarama Resources Ltd.
[{"type":"text","content":"VANCOUVER, BC--(Marketwired - August 22, 2017) - Sarama Resources Ltd. (\"Sarama\" or the \"Company\") (TSX VENTURE: SWA) announces that it has received advice from the Government of Burkina Faso confirming the transfer of the Djarkadougou Exploration Permit (the \"Permit\") into a 100%-owned subsidiary of Sarama. The Djarkadougou Exploration Property (\"Djarkadougou\" or the \"Property\") hosts the Bondi Deposit and was the subject of a purchase agreement between Sarama and Orezone Gold Corporation (\"Orezone\") (refer news release May 24, 2016). With the transfer of the Permit into Sarama's subsidiary, the transaction is now considered closed and Sarama will remove the escrow on Sarama common shares and warrants that were issued to Orezone as consideration for the purchase of the Property by Sarama. Sarama has already commenced exploration activity on Djarkadougou and has made progress in identifying and drill testing new exploration targets, the results of which will be provided in future news releases. Djarkadougou is a highly-strategic property that forms part of Sarama's 100%-owned ThreeBee Project and is expected to play an important role in any future development plans in the southern Houndé Belt (refer Figure 1). Figure 1. Location Map of Djarkadougou Property and Other Significant Regional Projects in Southern Houndé Belt (1),(2),(4) Sarama's President and CEO, Andrew Dinning, commented: \"Sarama is pleased to have the transaction closed and appreciates Orezone's assistance in joint efforts to complete this final stage with the Government of Burkina Faso. We view the acquisition of the Bondi Deposit as an important step in the consolidation of the highly prospective southern Houndé Belt which is an area where Sarama has had significant exploration success and controls a large land position with significant interests in three advanced gold exploration projects. Sarama is also looking forward to exploring the potential of the greater Djarkadougou Property, outside the immediate area of the Bondi Deposit which has been the focus of historical exploration activities.\" ABOUT SARAMA RESOURCES LTD Sarama Resources Ltd (TSX VENTURE: SWA) is a West African focused gold explorer with substantial landholdings in Burkina Faso. Sarama is focused on consolidating under-explored landholdings in Burkina Faso and other established min...