VANCOUVER, BC --(Marketwired - June 19, 2017) - Sarama Resources Ltd. ("Sarama" or the "Company") (TSX VENTURE: SWA) is pleased to announce that high-grade gold mineralisation has been intersected in an ongoing extensional diamond drilling program at the South Houndé Project (the "Project") in south-western Burkina Faso.
The program was designed to test depth and strike extensions to high-grade shoots within known mineral resources and forms part of an ongoing, multi-faceted exploration program aimed at increasing the Project's 2.1Moz gold
Highlights
- Diamond drilling intersected exceptionally high-grade mineralisation, including an interval assaying 0.5m @ 112.3g/t Au, in the MC Deposit at the South Houndé Project.
- Drilling targeted several discrete and high-grade shoots within the mineral resource to test for strike and depth extensions with a view to assessing underground mining potential.
- Results continue to demonstrate the significant scale of the mineralised system at the South Houndé Project, with drill-defined mineralisation extending continuously from surface to a vertical depth of approximately 550m.
- Drilling at the MM Deposit is anticipated to result in the extension of the mineral resource of approximately 200m down-dip in the areas proximal to high-grade shoots.
- Drilling at the MC Deposit is anticipated to result in an approximate 150m strike extension of mineralisation around higher-grade shoots.
- Program comprised of 11 holes for 1,300m reverse-circulation ("RC") and 4,500m diamond drilling (or "DDH") with highlighted downhole intersections including (see Appendices A & B for full details):
MC Deposit
FRC1076RE1 6.0m @ 12.15 g/t Au from including 2.6m @ 27.03 g/t Au
(DDH) 231.0m from 231.6m
with 0.5m @ 112.3 g/t Aufrom
232.2m
6.7m @ 3.85 g/t Au from 240.8m including 3.9m @ 6.22 g/t Au
from 243.1m
FRC1075RE1 6.8m @ 6.83 g/t Au from 173.2m including 2.0m @ 18.76 g/t Au
(DDH) from 177.5m
MM Deposit (southern area extensions)
FRC1070RE1 11.3m @ 3.50 g/t Au from including 6.5m @ 5.03 g/t Au
(DDH) 397.5m from 397.5m
MM Deposit (northern area extensions)
FRC1071RE1 5.6m @ 2.65 g/t Au from 511.6m including 1.5m @ 8.70 g/t Au
(DDH) from 513.1m
FRC1072RE1 4.2m @ 2.82 g/t Au from 532.7m including 1.1m @ 7.83 g/t Au
(DDH) from 535.2m
3.4m @ 5.25 g/t Au from 603.3m
- USD$4.0M (CAD$5.4M) exploration program, funded by Acacia Mining plc, is budgeted for 2017 including geochemical and geophysical surveys and drill programs.
MC Deposit
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A 3-hole program, consisting of 300m RC (pre-collars) and 1,000m diamond drilling was undertaken to test for strike and depth extensions of the mineral resource, proximal to high-grade mineralisation hosted in several different lode orientations. Of principal interest was a high-grade oblique lode represented by the intersection of mineralised, north-north-east ("NNE") trending porphyry dykes and associated bounding sedimentary rocks, with a mineralised, north-east trending zone of cross faulting.
The drilling encountered several discrete mineralised lodes, assembled in a package of parallel lodes which is consistent with existing interpretations. Mineralisation was observed to be hosted in both porphyry dykes and in zones of altered sediments which are likely associated with NNE-trending structural features and generally featured high sulphide content, auguring well for elevated gold grades.
Of note was the intersection of 0.5m @ 112.3g/t Au from 232.2m in FRC1076RE1. The intersection represents the highest grade encountered in the Project to date and is interpreted to be intimately associated with the intersection of secondary oblique structural features with the predominant NNE-trending mineralisation to create an enrichment zone.
The drilling supports the expansion of the interpreted lodes by approximately 150m along strike, with depth extensions of up to 200m in several lodes also inferred.
Full results of the program are included in Appendix A, with highlighted intersections of:
FRC1076RE1 (DDH) 6.0m @ 12.15 g/t Au from 231.0m, including 2.6m @ 27.03
g/t Au from 231.6m,
which includes 0.5m @ 112.3 g/t Au from 232.2m; and
6.7m @ 3.85 g/t Au from 240.8m, including 3.9m @ 6.22
g/t Au from 243.1m
FRC1075RE1 (DDH) 6.8m @ 6.83 g/t Au from 173.2m, including 2.0m @ 18.76
g/t Au from 177.5m
Drilling in the area is ongoing, with planned holes building on observations from this recent drilling to better predict the intersection zones of the two dominant orientations of structural features.
MM Deposit
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The 4.3km-long MM Deposit hosts the bulk of the Project's 2.1Moz gold
An 8-hole program, consisting of 1,000m RC (pre-collars) and 3,500m diamond drilling was undertaken to principally test for strike and depth extensions in two of the high-grade shoots within the mineral resource. Several infill holes were also drilled into the existing mineral resource to better understand the controls of the higher-grade mineralisation to assist in targeting of the step-out holes.
Observations from the recent drilling support the hypothesis that two generalised periods of gold mineralisation are present on the basis of alteration, structural orientation and sulphide content. The higher-grade shoots targeted by the drilling are understood to be produced by the intersection of late-stage cross-cutting gold mineralisation, characterised by a zonal distribution of albite-silica alteration and the presence of lenses and stringers of sulphides, with the earlier and more spatially extensive NNE-striking mineralised lodes that are generally hosted by porphyry dykes, but with instances of sediment-hosted mineralisation associated with structural features aligned with this trend.
The recent drilling encountered various styles of mineralisation presenting as a series of parallel lodes, consistent with expectations and yielded gold grades which have the potential for exploitation by underground mining. It is anticipated that the step-out drilling will support extension of the mineral resource by approximately 200m down-dip in the two high-grade shoot areas tested. A 250m extension to the strike of modelled mineralisation in one of the areas is also indicated by the recent drilling.
These anticipated extensions to the mineral resource reinforce the scale of the mineralised system at the South Houndé Project, which now is interpreted to extend to a vertical depth of 550m. When considered in the context of the 10.3km-long drill-defined 'footprint' of the mineral resource, significant depth potential is clearly evident.
Full results of the program are included in Appendix B, with highlighted intersections of:
FRC1070RE1 (DDH) 11.3m @ 3.50 g/t Au from 397.5m, including 6.5m @ 5.03
g/t Au from 397.5m; and
17.3m @ 1.52g/t Au from 427.0m, including 5.1m @ 3.31g/t
Au from 429.5m
FRC1071RE1 (DDH) 5.6m @ 2.65 g/t Au from 511.6m, including 1.5m @ 8.70
g/t Au from 513.1m
FRC1072RE1 (DDH) 4.2m @ 2.82 g/t Au from 532.7m, including 1.1m @ 7.83
g/t Au from 535.2m; and
3.4m @ 5.25 g/t Au from 603.3m
Drilling is ongoing and will continue to test for depth and strike
extensions to other higher-grade shoots located along the strike of the MM
Deposit.
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iv. The historical estimate uses the mineral resource reporting categories required under National Instrument 43-101.v. No more recent estimates of the mineral resource or other data are available.
vi. Sarama is currently undertaking the necessary verification work in the field and on the desktop that may support the future reclassification of the historical estimate to a mineral resource.
vii. A qualified person engaged by Sarama has not undertaken sufficient work to verify the historical estimate as a current mineral resource and Sarama is therefore not treating the historical estimate as a current mineral resource.
4. Upon closing of the purchase agreement for the Bondi Deposit, Sarama will have 100% interest in Djarkadougou Property which hosts the Bondi Deposit.
NOTES -- DRILLING
Drilling results are quoted as downhole intersections. True widths of mineralisation are estimated to be approximately 70% to 80% of reported downhole intersection lengths, except as otherwise noted. The orientation of some of the mineralised units is not yet well understood.
The reported composites for the drilling were determined using a cut-off grade of 0.30g/t Au to select significant and anomalous intersections, with a maximum of 2m internal dilution being incorporated into the composite where appropriate. No top-cuts were applied to assay grades. Isolated mineralised intersections less than 2m in length have not been reported.
Gold assays for the drilling were undertaken by the Bigs Global laboratories in Ouagadougou, Burkina Faso. Assays are determined by fire assay methods using a 50 gram charge, lead collection and an AAS finish with lower detection limits of 0.005g/t Au (Bigs Global).
The drilling was generally designed using a range of azimuths, according to program aims and mineralization orientation, dipping at approximately -55-60° and were of variable length. Holes were spaced at various intervals according to targeting intent. RC holes where sampled, were sampled at regular 1m downhole intervals. All diamond holes were sampled according to geological intervals but were generally < 1m.
Intersection oxidation state classification is based on visual logging of the drillholes.
Sarama undertakes geological sampling and assays in accordance with its quality assurance/quality control program which includes the use of certified reference materials for AC, RC and diamond drilling as well as field duplicates in the case of AC and RC drilling.
For further information regarding the Company's QAQC protocols please refer to the technical report titled "NI 43-101 Independent Technical Report, South Houndé Project Update, Bougouriba and Ioba Provinces, Burkina Faso", dated March 31, 2016. The technical report is available under the Company's profile on SEDAR at www.sedar.com.
QUALIFIED PERSONS' STATEMENT
Scientific or technical information in this news release that relates to the Company's exploration activities in Burkina Faso is based on information compiled or approved by Guy Scherrer. Guy Scherrer is an employee of Sarama Resources Ltd and is a member in good standing of the Ordre des Géologues du Québec 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. Guy Scherrer consents to the inclusion in this report of the information, in the form and context in which it appears.
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.
Scientific or technical information in this news release, in respect of the Bondi Deposit relating to mineral resource and exploration information drawn from the Technical Report prepared for Orezone on that deposit has been approved by Guy Scherrer. Guy Scherrer is an employee of Sarama Resources Ltd and is a member in good standing of the Ordre des Géologues du Québec 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. Guy Scherrer consents to the inclusion in this report of the information, in the form and context in which it appears.
Scientific or technical information in this news release that relates to the preparation of the Karankasso Project's mineral resource estimate is based on information compiled or approved by Eugene Puritch and Antoine Yassa. Eugene Puritch and Antoine Yassa are employees of P&E Mining Consultants Inc. and are considered to be independent of Savary Gold Corp. and Sarama Resources Ltd. Antoine Yassa is a member in good standing of the Ordre des Géologues du Québec and Eugene Puritch is a member in good standing of Professional Engineers Ontario. Eugene Puritch and Antoine Yassa have sufficient experience which is relevant to the commodity, style of mineralisation under consideration and activity which they are undertaking to qualify as a Qualified Person under National Instrument 43-101. Eugene Puritch and Antoine Yassa consent to the inclusion in this news release of the information, in the form and context in which it appears. Sarama has not independently verified Savary's mineral resource estimate and takes no responsibility for its accuracy.
APPENDIX A - MC DEPOSIT DRILLING
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Location Hole Downhole
(Prospect) Hole ID Type Intersection
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MC Deposit FRC1075 RC no significant intersections
(pre-collar)
FRC1075RE1 DDH 6.8m @ 6.83 g/t Au
including 2m @ 18.76 g/t Au
3.4m @ 8.17 g/t Au
3.3m @ 0.90 g/t Au
3.9m @ 0.94 g/t Au
9.7m @ 0.77 g/t Au
including 2m @ 2.08 g/t Au
FRC1076 RC 2.0m @ 0.69 g/t Au
(pre-collar) 4.8m @ 0.94 g/t Au
FRC1076RE1 DDH 6.0m @ 12.15 g/t Au
including 2.6m @ 27.03 g/t Au
6.7m @ 3.85 g/t Au
including 3.9m @ 6.22 g/t Au
6.7m @ 2.11 g/t Au
including 3.9m @ 3.12 g/t Au
9.1m @ 2.56 g/t Au
including 4.5m @ 3.82 g/t Au
5.8m @ 1.15 g/t Au
12.5m @ 1.49 g/t Au
including 3.1m @ 2.86 g/t Au
5.0m @ 1.05 g/t Au
3.1m @ 0.96 g/t Au
3.3m @ 0.75 g/t Au
FRC1077 RC not sampled
(pre-collar)
FRC1077RE1 DDH 5.0m @ 0.60 g/t Au
3.4m @ 0.95 g/t Au
3.0m @ 2.74 g/t Au
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APPENDIX A - MC DEPOSIT DRILLING
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Intersection Depth Depth Dip Azimuth Hole
Location Material From To ( degrees( degrees Length
(Prospect) Type (m) (m) ) ) (m)
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MC Deposit - 0 80.7 -56 144 80.7
100% Fresh 173.2 180.0 -56 144 316.0
from 177.5 - 179.5m
100% Fresh 236.5 239.8
100% Fresh 298.1 301.5
100% Fresh 309.2 313.1
100% Fresh 315.7 325.4
from 323.5 - 325.4m
100% Fresh 141.0 143.0 -57 146 152.8
100% Fresh 148.0 152.8
100% Fresh 231.0 237.0 -57 146 373.3
with 0.5m @ 112.3 g/t Au from 232.2 -
from 231.6 - 234.2m 232.7m
100% Fresh 240.8 247.5
from 243.1 - 247.1m
100% Fresh 302.8 309.5
from 304.7 - 308.6m
100% Fresh 315.0 324.1
from 319.6 - 324.1m
100% Fresh 342.3 348.1
100% Fresh 365.6 378.1
from 369.5 - 372.5m
100% Fresh 412.0 417.0
100% Fresh 479.7 482.9
100% Fresh 487.1 490.4
- 0 81.0 -56 144 81.0
100% Fresh 212.0 217.0 -56 144 265.1
100% Fresh 238.1 241.5
100% Fresh 300.8 303.8
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Notes: Drillholes with a suffix of 'REx' denote RC holes that have been extended with a diamond drill tail
APPENDIX B - MM DEPOSIT DRILLING
Location Downhole
(Prospect) Hole ID Hole Type Intersection
MM Deposit FRC1071 RC no significant intersections
(Northern) (pre-collar)
FRC1071RE1 DDH 7.9m @ 0.45 g/t Au
4.5m @ 0.32 g/t Au
3m @ 0.61 g/t Au
5.6m @ 2.65 g/t Au
including 1.5m @ 8.70 g/t Au
3m @ 1.47 g/t Au
FRC1072 RC no significant intersections
(pre-collar)
FRC1072RE1 DDH 8.6m @ 0.52 g/t Au
4.3m @ 1.11 g/t Au
3.2m @ 1.07 g/t Au
4.2m @ 2.82 g/t Au
including 1.1m @ 7.83 g/t Au
3.4m @ 5.25 g/t Au
DDH023RE1 DDH 2.7m @ 2.34 g/t Au
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MM Deposit FRC1070 RC no significant intersections
(Southern) (pre-collar)
FRC1070RE1 DDH 2.5m @ 0.89 g/t Au
11.3m @ 3.50 g/t Au
including 6.5m @ 5.03 g/t Au
17.3m @ 1.52 g/t Au
including 5.1m @ 3.31 g/t Au
FRC1073 RC abandoned
(precollar)
FRC1073A RC no significant intersections
(pre-collar)
FRC1073ARE1 DDH 4.5m @ 0.63 g/t Au
DDH 11.3m @ 1.02 g/t Au
DDH 3.6m @ 0.38 g/t Au
FRC1074 RC abandoned
FRC1074A RC no significant intersections
(pre-collar)
FRC1074ARE1 DDH 15.6m @ 0.91 g/t Au
including 3.8m @ 1.85 g/t Au
DDH087 DDH 4.5m @ 1.12 g/t Au
3.9m @ 3.23 g/t Au
DDH088 DDH 2m @ 2.85 g/t Au
3.7m @ 0.47 g/t Au
14.8m @ 0.61 g/t Au
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Dip
Intersection Depth Depth ( Azimuth Hole
Location Material From To degrees ( degrees Length
(Prospect) Type (m) (m) ) ) (m)
MM Deposit - 0 141 -55 112 141.0
(Northern)
100% Fresh 341.6 349.5 -55 112 495.7
100% Fresh 353.5 358.0
100% Fresh 475.5 478.5
100% Fresh 511.6 517.2
from 513.1 - 514.6m
100% Fresh 607.5 610.5
- 0 176.3 -56 106 176.3
100% Fresh 344.4 353.0 -56 106 475.4
100% Fresh 355.5 359.8
100% Fresh 471.8 475.0
100% Fresh 532.7 536.9
from 535.2 - 536.3m
100% Fresh 603.3 606.7
100% Fresh 423.8 426.5 -56 94 208.4
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MM Deposit - 0 81.0 -56 114 81.0
(Southern)
100% Fresh 167.0 169.5 -56 114 429.6
100% Fresh 397.5 408.9
from 397.5 - 404.0m
100% Fresh 427.0 444.3
from 429.5 - 434.6m
- 0.0 106.0 -55 114 106.0
- 0.0 209.5 -56 109 209.5
100% Fresh 590.4 595.0 -56 109 448.0
100% Fresh 613.7 625.0
100% Fresh 632.6 636.3
- 0.0 69.0 -55 95 69.0
- 0.0 185.7 -56 93 185.7
100% Fresh 339.4 355.0 -56 93 232.1
from 346.4 - 350.3m
100% Fresh 88.9 93.5 -55 118 506.5
100% Fresh 467.0 470.9
100% Oxide 63.0 65.0 -62 118 677.5
100% Fresh 508.9 512.6
100% Fresh 529.9 544.7
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Notes: Drillholes with a suffix of 'REx' denote RC holes that have been extended with a diamond drill tail
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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
