This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Sarama Defines 11km-Long Gold-in-Soil Anomaly At Its Gbarpolu Property In Liberia & Increases Its Interest In Pedsam Properties To 65%

The anomalous zones are broadly defined by the 95 th percentile of returned assays (Au>20ppb).  Within the main zone, several areas up to approximately 1.5km in length are defined by gold-in-soil values of Au>37ppb.  A peak value of 1,100ppb Au (1.10 g/t Au) was recorded by the survey.

Sarama has commenced trenching over selected areas within the identified trends with a view to defining drill targets.

Acquisition of 65% Interest in PedSam Mining Limited ( Liberia)

Pursuant to an earn-in agreement (the " Agreement") between Sarama and Pedra Mining AS ( Norway) (" Pedra"), Sarama is pleased to report that it has increased its interest by a further 15%, for an aggregate 65% interest, in PedSam.

PedSam is a Liberian entity that is managed by Sarama which has title to the three exploration licences that are subject to the Agreement.  The licences are located in Grand Cape Mount, Gbarpolu and Grand Bassa Counties and total approximately 1,200km² in area (refer Figure 2).

The 65% earn-in milestone was achieved by Sarama having incurred an aggregate of US$2,000,000 in eligible expenditures across the three exploration licences.  Pedra currently holds the remaining 35% interest in PedSam, and under the Agreement, Sarama has the right to earn a 90% interest in PedSam, with the ability to acquire 100% of PedSam subject to certain conditions being met.

Sarama expects to increase its interest in PedSam to 80% during 2013, subject to achieving prescribed earn-in milestones.

Sarama's President and CEO, Andrew Dinning, commented:

"We are encouraged by the results of the geochemical survey at Gbarpolu, particularly when viewed in combination with the trends identified by the airborne geophysical surveys conducted.  The 11km-long anomalous zone presents a significant target for exploration work and further illustrates the prospectivity of our Liberian property portfolio."  

For further information on the Company's activities, please contact:

2 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,678.70 +6.10 0.03%
S&P 500 2,057.09 +5.27 0.26%
NASDAQ 4,771.7630 +13.8840 0.29%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs