Riedel Resources has agreed to acquire a controlling interest in two belt-scale gold exploration projects in the prolific Laverton gold district in Western Australia, positioning the company to be a multi-project gold explorer.
The acquisition of the Cosmo and Mt Venn projects from Sarama Resources secures a commanding 1,000 square kilometre landholding.
The deal scales up Riedel’s portfolio, adding over 100 kilometres of greenstone belt strike length in a region renowned for world-class deposits like Gruyere and Duketon.
The move transforms Riedel into a multi-jurisdictional explorer. The new assets sit alongside the company’s existing high-grade Kingman gold project in Arizona, US, which already hosts a 64,000oz gold resource.
Riedel’s Non-Executive Chairman, Scott Cuomo, said the acquisition offers a rare opportunity to apply modern exploration techniques to underexplored territory.
“The Cosmo and Mt Venn Projects occupy a commanding position over two of the remaining greenstone belts in Western Australia that are yet to be systematically explored,” Cuomo said.
“We are excited to secure such a rare land package to create a multi-project portfolio in Tier 1 jurisdictions and look forward to undertaking systematic exploration in the coming months.”
At the Cosmo project, previous fieldwork has already identified multiple kilometre-scale gold-in-soil anomalies. Heritage surveys are currently underway, with Riedel targeting a July 2026 start date for its maiden drilling campaign.
To drive this next phase of growth, Riedel is adding to its leadership team with veteran mining executives Andrew Dinning and Paul Schmiede, alongside geologist Jack Hamilton, a team with a history of major discoveries.
The proposed changes are intended to strengthen Riedel’s technical and corporate capability as it advances the Cosmo Gold and Mt Venn projects. Schmiede will be appointed as CEO on completion of the transaction.
The transaction is supported by a AU$2.5 million equity placement to investors at 2.5 cents per share. Upon completion, Riedel expects to hold a strong cash position of approximately AU$4 million, providing the firepower needed to advance both its Australian and American assets simultaneously.
Under the terms of the deal, Sarama Resources will become a cornerstone investor in Riedel with an initial 32 per cent stake. The transaction is expected to finalise in June, pending shareholder approval.
