Sarama Resources

West African-focused gold explorer and developer Sarama Resources has restructured its board to support the pursuit of a new strategic direction.

Sarama Resources will take a more aggressive approach to maximising the value of its assets either through M&A or by advancing its key projects – the 100%-owned South Houndé and ThreeBee projects located within the prolific Houndé Greenstone Belt in south-west Burkina Faso.

Read more news from Burkina Faso

Its exploration programmes have successfully discovered an inferred mineral resource of 2.1 Moz gold at the South Houndé project which is complemented by the ThreeBee project’s Bondi Deposit (with a historical estimate of mineral resources of 0.3 Moz of gold). Together, the projects form a cluster of advanced gold deposits, within trucking distance of one another, which potentially offers a development option for a central processing facility fed from multiple sources in the southern Houndé Belt region of Burkina Faso.

Sarama Resources has built further optionality into its portfolio including a 600 km² exploration position in the highly prospective Banfora Belt in south-western Burkina Faso.

The Koumandara project hosts several regional-scale structural features and trends of gold-in-soil anomalism extending for over 40 km along strike.

Sarama Resources also holds approximately 19% participating interest in the Karankasso project joint venture (JV) which is situated adjacent to the company’s South Houndé project in Burkina Faso and is a JV between Sarama and Semafo (currently being acquired by Endeavour Mining), in which Semafo is the operator of the JV. In February 2020, Semafo declared an updated inferred mineral resource estimate of 709 000 oz gold for the Karankasso project JV.

Board restructure supports strategic vision

Simon Jackson has been appointed non-executive chairman which will allow the CEO, Andrew Dinning to fully focus on implementing the changes in strategic direction with the assistance of the board.

Moreover, long serving non-executive directors Sean Harvey and David Groves have retired from the board and experienced mining executives Adrian Byass and Steve Zaninovich have been appointed in their place.

Byass and Zaninovich have extensive mining industry experience and have successfully brought assets to account through both project development and corporate routes and their skillsets complement the existing board and support the company’s new strategic direction.

Byass has more than 25 years’ experience in the mining industry and operates in a corporate and market focused capacity on a national and international basis. He has board level experience in mine development, capital raising and M&A and has played key roles in a range of exploration and mining projects across a suite of commodities including gold and base and specialty metals in Australia, Africa, North America and Europe. Byass is currently on the board of Galena Mining, Kaiser Reef, Kingwest Resources and Infinity Lithium.

Meanwhile, Zaninovich has spent over 25 years in project development, maintenance and operational readiness in the mining industry and has held executive and non-executive board roles with public and private companies. He has extensive experience in the development of multiple mining operations across various jurisdictions in West Africa including Burkina Faso, Mali and Ghana. He served as COO with Gryphon Minerals prior to their takeover by Teranga Gold where he assumed the role of VP of Major Projects and completed the bankable feasibility study on the recently commissioned Wahgnion gold project in Burkina Faso.

Zaninovich is currently a non-executive director of Canyon Resources and Indiana Resources and was previously an executive director with Lycopodium Minerals and held non-executive director roles with Centaurus Metals, Gryphon Minerals and Orway Minerals Consultants.