VANCOUVER, BC--(Marketwired - January 17, 2017) - Sarama Resources Ltd. (the "Company" or "Sarama") is pleased to advise that Savary Gold Corp. ("Savary"), the operator of the Karankasso Project Joint Venture7 between Sarama and Savary, provided an update on January 17, 2017 of initial drill results from the Q4, 2016 drilling campaign. The drilling was undertaken across multiple target zones within the Karankasso Project area.
Highlights
- 22 holes totalling approximately 3,000 metres of diamond core ("DD") and reverse-circulation ("RC") were completed prior to year-end.
- Downhole intersections highlighted by Savary include:
| HE-RC-16-41 | 7m @ 1.54 g/t Au | from 10m | |||
| HE-RC-16-44 | 15m @ 0.51 g/t Au | from 129m | |||
| HE-RC-16-46 | 2m @ 5.64 g/t Au | from 10m | |||
| HE-RC-16-47 | 12m @ 0.62 g/t Au | from 30m | |||
| HE-RC-16-48 | 6m @ 1.84 g/t Au | from 62m | |||
| HE-RC-16-51 | 1m @ 14.95 g/t Au | from 36m | |||
| HE-RCD-16-53A | 10.4m @ 1.13 g/t Au | from 158.5m | |||
| HE-RCD-16-54 | 8m @ 1.87 g/t Au | from 20m | |||
| HE-RCD-16-55 | 7.2m @ 3.75 g/t Au | from 142.0m | |||
| 7.5m @ 4.2 g/t Au | from 173.1m | ||||
| 8.0m @ 2.3 g/t Au | from 192.0m | ||||
| HE-RCD-16-56 | 7.0m @ 6.73 g/t Au | from 181.6m | |||
| 5.5m @ 3.45 g/t Au | from 197.3m | ||||
| (mineralisation true widths are estimated at 65-80% of listed downhole intersection lengths) | |||||
- Follow-up drilling on selected targets is planned to commence in January 2017.
Sarama's President and CEO, Andrew Dinning, commented:
"The combination of infill and extensional drilling completed at the Karankasso Project in Q4 2016 will enhance understanding of the mineralised system. Sarama looks forward to the integration of recently collected geophysical, geochemical and prospecting data into the forward exploration program that may generate new targets outside the known mineralised system."
About Sarama Resources
Sarama Resources Ltd (TSX VENTURE: SWA) is a West African focused gold explorer with substantial landholdings in Burkina Faso. Sarama is focused on consolidating under-explored landholdings in Burkina Faso and other established mining jurisdictions.
Sarama's flagship properties are situated within the Company's South Houndé Project area in south-west Burkina Faso. Located within the prolific Houndé Greenstone Belt, Sarama's exploration programs have built on significant early success to deliver an inferred mineral resource estimate of 2.1 Moz gold1,2. Acacia Mining plc is earning up to a 70% interest in the South Houndé Project by satisfying certain conditions, including funding earn-in expenditures of up to US$14 million, over a 4-year earn-in period and may acquire an additional 5% interest, for an aggregate 75% interest in the Project, upon declaration of a minimum mineral reserve of 1.6 million ounces of gold.
Sarama holds a 31% 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 Savary Gold Corp. ("Savary"). Savary is the operator of the JV and in October 2015, declared a maiden inferred mineral resource estimate of 671,000 ounces of contained gold3,4 at the Karankasso Project JV.
Sarama has also agreed to acquire a 100% interest in the Bondi Deposit from Orezone Gold Corporation (refer news release May 24, 2016). Bondi has a historical estimate of mineral resources of 0.3Moz Au (measured and indicated) and 0.1Moz Au (inferred)5,6.
Together, the South Houndé Project, Bondi Deposit and the Karankasso Project form a cluster of advanced gold deposits, within trucking distance of one another, which potentially offers a development option for a multi-source fed central processing facility in the southern Houndé Belt region of Burkina Faso.
