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Sarama Resources Ltd.
Summary
| Project: | South Hounde | |
|---|---|---|
| Deposit: | MM, MC, Kenobi | |
| Location: | Burkina Faso | |
| Commodities: | Gold | |
| Date: | 9/4/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 4-9-2019: Sarama Resources Ltd. announces an Exploration/Drilling Update report for its MM, MC, Kenobi deposit at the South Hounde project. Drilling results incl. 35m @ 3.29g/t Au from 6m. VANCOUVER, CANADA. Sarama Resources Ltd. (“Sarama” or the “Company | |
| Resources: | (Resource, Inf.): 43.0Mt @ 1.5g/t Au for 2.1Moz Au contained at project | |
| CP/QP: | [Overall Report]: Guy Scherrer (Internal) | |
| ABSTRACT: | VANCOUVER, CANADA. Sarama Resources Ltd. (“Sarama” or the “Company”) (TSX-V:SWA) is pleased to announce that recent oxide-focussed drilling at its 100%-owned(6) South Houndé Project (the “Project”) in south-western Burkina Faso has better delineated zones of broad oxide mineralisation within the Project’s current mineral resource. Higher-grade drill intersections of 35m @ 3.29g/t Au (drilled oblique to several sets of mineralisation and ending in mineralisation), 7m @ 5.59/t Au (ending in mineralisation) and 7m @ 5.06g/t Au were intersected in oxide material at the MC Deposit while other broad intersections including 17m @ 2.16g/t Au, 11m @ 2.89g/t Au, 12m @ 2.11g/t Au and 11m @ 2.27g/t Au were returned from drilling at the MM Deposit. Drilling at the Kenobi Deposit intersected broad mineralisation in oxide material which has prompted a re-interpretation of gold-bearing lodes in the area to include several flat-lying zones, which are considered favourable for potential open pit mining. With the recent increase in the strike length of drill-defined mineralisation at the Project to over 12km, these results are expected to refine the understanding of the oxide and free-milling components of the mineral resource base that currently totals approximately 600koz Au (oxide and transition) out of a total 2.1Moz Au mineral resource(1) . Sarama’s objective is to advance its southern Houndé Belt projects (refer Figure 1) toward a low capital, high-return development, initially exploiting the oxide and free-milling material as part of a multi-stage project. | |
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