VANCOUVER, Sept. 4, 2015 /CNW/ - Sarama Resources Ltd.
("Sarama" or the "Company") is pleased to advise that
Savary Gold Corp. ("Savary"), the operator of the Karankasso
Project Joint Venture ("JV") between Sarama and Savary,
provided an update on September 3,
2015 of the final drill results from the Q2, 2015 drilling
campaign. The drilling was undertaken across five target zones
within the 47km-long mineralised corridor situated in the
Karankasso Project area. Highlights from Savary's release are
presented below.
Highlights
- 42 reverse-circulation ("RC") holes totaling 3,240m were
drilled across five zones within 35km of trend.
- Four zones returned significant results including*:
- RC hole 15-29 10m @ 1.33g/t gold
from 104m Kueredougou North Zone
- RC hole 15-33 4m @ 2.72g/t
gold from 70m Koure
East Sulphide Zone
- RC hole 15-55 7m @ 2.00g/t
gold from 44m
Sérakoro 1 West Zone
- RC hole 15-88 13m @ 2.09g/t
gold from 100m Kueredougou West
Zone
- RC hole 15-89 5m @ 1.88g/t
gold from 37m
Kueredougou West/Untested Zone
- RC hole 15-90 8m @ 1.23g/t
gold from 61m Kueredougou
West/Untested Zone
* True widths are
estimated at 70% to 100% of drilled length
- Savary stated encouraging results were returned along a 2,000m
trend at the Kueredougou West and Kueredougou Untested area.
- Further details of the interpretation of these drill results is
contained in Savary's news release dated September 3, 2015.
During the period April 21, 2015
to June 30, 2015, Savary completed
14,515 metres of drilling in 115 RC holes across the Karankasso
Project (Figure 1). Savary have now released all drill results from
this program.
Sarama's President and CEO, Andrew
Dinning commented:
"We are pleased with the results of the second
quarter drill campaign which has identified and extended a number
of areas of mineralisation and continues to support our
belief that the southern Houndé Gold Belt
is a great place to be and we look forward to continuing to work
collaboratively with Savary."
Savary's September 3, 2015 news
release contains a complete list of results and further information
on Savary's drill campaign on the Karankasso Project.
For further information on the Company's activities, please
contact:
Andrew Dinning or Paul Schmiede
e:
info@saramaresources.com | t: +61 (0) 8 9363 7600
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
Figure 1 – Karankasso Project - 2015
Drill Locations
About Sarama Resources Ltd
Sarama Resources Ltd (TSX-V: SWA) is a West African focused gold
explorer with substantial landholdings in Burkina Faso, Liberia and Mali.
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 a maiden Inferred Mineral
Resource estimate of 1.5 Moz gold1,2. Outside of
Burkina Faso, Sarama is focused on
consolidating a number of under-explored landholdings in other
emerging and established mining jurisdictions.
Incorporated in 2010, the Company's Board and management team
have a proven track record in Africa and a strong history in the discovery
and development of large-scale gold deposits. Sarama is well
positioned to build on its current success with a strong financial
position and a sound exploration strategy across its property
portfolio.
- 29.13 Mt @ 1.6 g/t Au (at a 0.8 g/t Au cut-off)
- The effective date of the Company's Mineral Resource
estimate is September 16, 2013. For
further information regarding the Mineral Resource estimate please
refer to the technical report titled "NI 43-101 Independent
Technical Report, South Houndé Project, Bougouriba and Ioba
Provinces, Burkina Faso", dated
October 28, 2013. The technical
report is available under the Company's profile on SEDAR at
www.sedar.com.
Caution Regarding Forward Looking Statements
Information in this news release that is not a statement of
historical fact constitutes forward-looking information. Such
forward-looking information includes statements regarding the
entering into of the joint venture agreement with Savary, the
operation of the joint venture by Savary on property which includes
Sérakoro 1 and Houndé South and future follow-up exploration on
number of gold bearing intercepts on the land to be covered by the
joint venture. Actual results, performance or achievements of
the Company may vary from the results suggested by such
forward-looking statements due to known and unknown risks,
uncertainties and other factors. Such factors include, among
others, that completion of the joint venture agreement depends on,
among other things, the satisfaction of conditions precedent that
are usual in a transaction of this nature, including the receipt of
regulatory approvals, that the business of exploration for gold and
other precious minerals involves a high degree of risk and is
highly speculative in nature; Mineral Resources are not Mineral
Reserves, they do not have demonstrated economic viability, and
there is no certainty that they can be upgraded to Mineral Reserves
through continued exploration; few properties that are explored are
ultimately developed into producing mines; geological factors; the
actual results of current and future exploration; changes in
project parameters as plans continue to be evaluated, as well as
those factors disclosed in the Company's publicly filed
documents.
There can be no assurance that any mineralisation that is
discovered will be proven to be economic, or that future required
regulatory licensing or approvals will be obtained. However, the
Company believes that the assumptions and expectations reflected in
the forward-looking information are reasonable. Assumptions have
been made regarding, among other things, the Company's ability to
carry on its exploration activities, the sufficiency of funding,
the timely receipt of required approvals, the price of gold and
other precious metals, that the Company will not be affected by
adverse political events, the ability of the Company to operate in
a safe, efficient and effective manner and the ability of the
Company to obtain further financing as and when required and on
reasonable terms. Readers should not place undue reliance on
forward-looking information.
Sarama does not undertake to update any forward-looking
information, except as required by applicable laws.
Qualified Person's Statement
Scientific or technical information in this news release that
relates to the preparation of the Company's mineral resource
estimate is based on information compiled or approved by
Adrian Shepherd. Adrian Shepherd is an employee of Cube
Consulting Pty Ltd and is considered to be independent of Sarama
Resources Ltd. Adrian Shepherd
is a chartered professional member in good standing of the
Australasian Institute of Mining and Metallurgy and has sufficient
experience which is relevant to the commodity, style of
mineralisation under consideration and activity which he is
undertaking to qualify as a Qualified Person under National
Instrument 43-101. Adrian
Shepherd consents to the inclusion in this news release of
the information, in the form and context in which it
appears.
SOURCE Sarama Resources Limited
