PedSam is managed by Sarama which has title to the three exploration licences that are subject to the earn-in agreement Sarama and Norway’s Pedra Mining.
The licences are located in Liberia’s Gbarpolu, Grand Bassa, and Grand Cape Mount counties and total about 1,200km² in area.
The Canada-based company intends to increase its interest in PedSam to 65% by the end of this year, subject to achieving prescribed earn-in milestones.
In addition, Sarama said a 9km-long gold-in-soil anomaly has been defined by a geochemical survey at the Cape Mount exploration property in western Liberia.
The anomalous zone is present in a geological terrane similar to the 1.7 million ounce resource New Liberty Gold Project of Aureus Mining.
Sarama president and CEO Andrew Dinning said, "The presence of artisanal and small-scale gold mining activity in areas proximal to the anomalies, and the various geophysical similarities of the anomaly on the Cape Mount property to those at the New Liberty deposit give confidence in the prospectivity of our properties."
