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Sarama Resources Ltd.
Summary
| Project: | South Hounde | |
|---|---|---|
| Deposit: | South Hounde | |
| Location: | Burkina Faso | |
| Commodities: | Gold | |
| Date: | 11/3/2016 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 3-11-2016: Sarama Resources Ltd. announces an Exploration/Drilling Update report for its South Hounde deposit at the South Hounde project. Drilling results incl. 13.7m @ 5.67g/t Au from 429m at MM prospect. VANCOUVER, CANADA. Sarama Resources Ltd. (“Saram | |
| 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 positive results from an aircore (“AC”), reverse-circulation (“RC”) and diamond drilling campaign at the South Houndé Project (the “Project”) in south-western Burkina Faso. The work was designed to test both new targets and extensions to known mineral resources and forms part of an ongoing, multi-faceted exploration program aimed at increasing the Project’s 2.1Moz gold1,2 mineral resource to support mine development. An 11-hole, 2,300m diamond drill program was undertaken to test for extensions to the mineral resource in several areas of the MM Prospect. In general, the program targeted areas in fresh rock that were down-dip and adjacent to high-grade modelled shoots supported by strong drill intersections. Small portions of the drilling also tested for strike extensions to the mineral resources in oxide material. The primary focus of the program was in the deepest part of the mineral resource at the central area of the MM Prospect where mineralisation grading up to 14.5g/t Au over mineable widths was previously intersected (refer Sarama news release August 12, 2012). This part of the mineralised system is open and presents an opportunity to define further high-grade material. The new drilling in this area stepped out approximately 100m along strike to the north and also investigated the potential for footwall repetitions of the high-grade lodes (refer Figures 1 & 2). In general, the drilling returned moderately broad, higher-grade intersections confirming the mineralization model and demonstrating the potential to increase the strike of drill defined mineralisation in the area. Of note is the intersection of 13.7m @ 5.67g/t Au in DDH086 at a vertical depth of approximately 370m, which is hosted in sericite-albite-altered sedimentary rock, rather than the more prevalent porphyry host, and sits in the footwall of the main mineralized porphyry lodes of the system. | |
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