Why Invest With Sarama?

Sarama Resources offers compelling value in multiple areas and provides substantial gold price optionality through its multi-million ounce gold resource, near-term development potential and exploration portfolio.

The Company’s overall vision is to transition to a gold producer and play a key role in the consolidation of Burkina Faso’s prolific southern Houndé Gold Belt which continues to yield major new +1 Moz gold discoveries.

Our development strategy is underpinned by multiple mine development options which allow for either a one off low-capital mine development or a multi-stage longer life project with the initial stage exploiting oxide and free-milling material and a second stage expansion to process other material types.

The Company’s board and management has significant exploration and mining experience across Africa and elsewhere in the world. Australia and Asia and includes companies such as Moto Goldmines, Redback Mining and Perseus Mining.


Gold Price Leverage

  • Our large resource base provides significant leverage to a rising gold price, not only providing scope for increased operating margins but also a step change in the Resource to Reserve conversion rates at around US$1,500 per ounce of gold
  • The Company’s 100% owned South Houndé Project hosts a 2.1Moz gold inferred resource(2) while the ThreeBee Project(3) hosts a historical resource of 0.3Moz gold M&I + 0.1Moz gold inferred

Near-Term Development Potential

  • Sarama’s southern Houndé Belt project(1) area provides a near-term pathway to development including scope for a low capex, high-return oxide-focussed mining operation, either in a CIL or heap leach configuration
  • Pending work programs will determine optimal flowsheet and project size
  • Our large and growing resource base provides scope for a multi-stage development, lowering up-front investment by deferring processing of fresh material and delivering a longer mine life

    Strategic Positioning and Regional Consolidation

    • The size, quality, and geological positioning of Sarama’s land package is difficult to replicate in Burkina Faso and generally in West Africa
    • There is significant value to be derived from ongoing regional consolidation which now sees Endeavour Mining, Teranga Gold Corp and Sarama controlling large areas of the southern Houndé Gold Belt
    • Sarama’s project area has clear synergies with Endeavour Mining’s Bantou Nord deposit which is situated 5km to the west of Sarama’s 2.1Moz South Houndé Project and Teranga Gold Corp’s Golden Hill Project which joins the northern portion of Sarama’s southern Houndé project area
    • Sarama’s regional footprint is further enhanced by a JV it shares with Endeavour Mining on the 750km² Karankasso Project adjacent to the Company’s 100% owned South Houndé Project. The project hosts a 700koz gold resource and recent drilling includes [20m @ 15g/t gold], Karankasso is reported as part of Endeavour Mining’s wider Bantou Project

    Exploration Potential

    • Sarama’s 100% owned South Houndé and Koumandara Projects cover ~1,900km2 of highly prospective and geologically proven terrain
    • The southern Houndé Gold Belt project area covers 1,300km2 of highly prospective greenstone terrain. This part of the belt continues to yield major new +1 Moz gold discoveries including Teranga Gold Corp’s Golden Hill and Endeavour Mining’s Kari Pump and Bantou Nord deposits
    • Koumandara Project (100% Sarama) covers 600km², and is situated in the neighbouring Banfora belt and is analogous to the southern Houndé Gold belt situated 40km to the east. Three gold corridors up to 40km in length have been identified and reconnaissance work has delivered high grade gold-in-soil results plus high-grade auger, air-core and RC drilling results over wide intervals


    (1)  Sarama will have a 100% interest in the Houndé Project upon finalisation of definitive agreements in respect of the transaction announced by news release on 27th November 2018.

    (2)  South Houndé Project – 43.0Mt @ 1.5g/t Au (reported above cut-off grades ranging 0.3-2.2g/t Au, reflecting the mining methods and processing flowsheets assumed to assess the likelihood of the inferred mineral resources having reasonable prospects for eventual economic extraction). This mineral resource contains an oxide and transition component of 16.0Mt @ 1.2g/t Au for 611koz Au (reported at a cut-off grade of 0.3g/t Au for oxide and 0.8g/t Au for transition material).  The effective date of the Company’s inferred mineral resource estimate is February 4, 2016.  For further information regarding the mineral resource estimate please refer to the technical report titled “NI 43-101 Independent Technical Report South Houndé Project Update, Bougouriba and Ioba Provinces, Burkina Faso”, dated March 31, 2016 and prepared by Adrian Shepherd.  Adrian Shepherd is an employee of Cube Consulting Pty Ltd and is considered to be independent of Sarama. The technical report is available under Sarama’s profile on SEDAR at

    (3)  Bondi Deposit – 4.1Mt @ 2.1g/t Au for 282,000oz Au (measured and indicated) and 2.5Mt @ 1.8g/t Au for 149,700oz Au (inferred), reported at a 0.5 g/t Au cut-off.

    i. The historical estimate of the Bondi Deposit reflects a mineral resource estimate compiled by Orezone Gold Corporation (“Orezone”) which has an effective date of February 20, 2009.  The historical estimate is contained in a technical report titled “Technical Report on the Mineral Resource of the Bondigui Gold Project”, dated date of February 20, 2009 and prepared by Yves Buro (the “Bondi Technical Report”). Yves Buro is an employee of Met-Chem Canada Inc and is considered to be independent of Orezone and Sarama. The technical report is available under Orezone’s profile on SEDAR at

    ii. Sarama believes that the historical estimate is relevant to investors’ understanding of the property, as it reflects the most recent technical work undertaken in respect of the Bondi Deposit.

    iii. The historical estimate was informed by 886 drillholes, assayed for gold by cyanidation methods, were used to interpret mineralised envelopes and geological zones over the area of the historical estimate.  Gold grade interpolation was undertaken using ID² methodology based on input parameters derived from geostatistical and geological analyses assessments.  Field measurements and geological logging of drillholes were used to determine weathering boundaries and bulk densities for modelled blocks.

    iv. The historical estimate uses the mineral resource reporting categories required under National Instrument 43-101.

    v. No more recent estimates of the mineral resource or other data are available.

    vi. Sarama is currently undertaking the necessary verification work in the field and on the desktop that may support the future reclassification of the historical estimate to a mineral resource.

    vii. A qualified person engaged by Sarama has not undertaken sufficient work to verify the historical estimate as a current mineral resource and Sarama is therefore not treating the historical estimate as a current mineral resource.