Sarama Resources

Cosmo Gold Project

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Montserrat

Majority Ownership of Underexplored, 
Belt-Scale Gold Project in 
Western Australia

The Cosmo greenstone belt is one of the few remaining underexplored greenstone belts in Western Australia. Sarama Resources Ltd holds the entire greenstone belt under granted exploration licenses covering an area of ~583km². The significance of the Cosmo Project is that it is significantly underexplored and occurs in a region that has generated major gold deposits. To the east is the economically significant Yamarna and Dorothy Hills greenstone belts where Gold Road Resources have multiple deposits, including the 8 million ounce Gruyere Gold Mine producing in excess of 300,000 ounces of gold per year, and the 1 million ounce Golden Highway deposit and 300,000 ounce high-grade Gilmore deposit, both of which are slated for feed at the neighbouring Gruyere Gold Mine. The Laverton greenstone belt to the west has historical production of over 12 million ounces of gold and endowment exceeding 35 million ounces of gold.

The Cosmo Greenstone Belt has analogous geological and structural features to these belts.

Key geologic elements of the orogenic gold mineralisation model are present within the project area, including Archaean Greenstone Belt lithologies, known gold mineralisation, a crustal-scale shear zone, felsic intrusions, and localised faulting and shearing.

The majority of the greenstone belt (~75%) is obscured by colluvium and sand cover but is interpreted from airborne aeromagnetics to be ~50km long and 3-11km wide as shown on Interpretation map. Greenstone belt outcrop is largely restricted to an area immediately north and south of Cosmo where historic high grade gold workings are located demonstrating that the area is mineralized. Ore produced was transported 95km to the Laverton Battery.

Due mainly to Native Title access restrictions, and with the exception of limited reconnaissance in 2017, the Project area has seen very limited exploration since 2002.

Negotiation of required Access Agreements with Native Title parties is complete and allows for the concerted exploration this large, underexplored project requires.

Comprehensive exploration reviews, and aeromagnetic interpretation and target generation, have highlighted considerable untested potential within the Project area. This work also highlighted strong geological and structural similarities to the adjacent and economically significant Dorothy Hills greenstone belt.

The Cosmo Project primarily has potential for gold mineralisation, with nickel-cobalt potential associated with an ultramafic unit near the west greenstone margin. Mafic complexes are not recognised at Cosmo  but must be considered given successful exploration of nickel-copper-cobalt mineralisation at the neighbouring Mount Venn greenstone belt where Sarama has acquired a significant interest.

Large portions of the Project area are entirely unexplored, or tested by sampling that has obvious location, analytical and data quality issues. Systematic first pass exploration using geological, geophysical and geochemistry methods is required, including extensive project wide regional geochemistry which the company is undertaking. 

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