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Savary Gold Corp.
Summary
| Project: | Karankasso | |
|---|---|---|
| Deposit: | Karankasso | |
| Location: | Burkina Faso | |
| Commodities: | Gold | |
| Date: | 7/19/2016 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 19-7-2016: Savary Gold Corp. announces an Exploration/Drilling Update report for its Karankasso deposit at the Karankasso project. JV with Samara Resources Ltd. - drilling results incl. 7m @ 9.75g/t Au from 85m. Toronto, Canada – July 19, 2016 – Savary Go | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Don Dudek (Internal) | |
| ABSTRACT: | Toronto, Canada – July 19, 2016 – Savary Gold Corp. (TSX-V: SCA) (“Savary” or the “Company”) is pleased to announce drill results for the recently completed drill program on the Karankasso JV Project in south western Burkina Faso. As at year end 2015, the Karankasso JV Project was approximately 66.3% owned by Savary and 33.7% owned by Sarama Resources Limited (“Sarama”). A total of 43 holes totalling 6,578.5 metres were completed over a period of 2.5 months. Approximately 79% of the drilling was completed over the known zones with a goal to extend the zones along strike, and at the Karangosso Zone, to depth as well. Both core and RC drilling were completed during the drill program with nine core holes totalling 1,528.5 metres of drilling completed before the RC drill program was initiated. The core and RC holes were drilled at inclinations of -45 and -50 degrees, respectively. Overall, approximately 25% of the drilling was completed proximal to the Karangosso inferred mineral resource estimate. A summary of assay composites are presented in Table 1, located at the end of this news release. Drilling down-plunge of the Karangosso Zone returned the best hole of the program to date with an intercept of 3.82 g/t gold over 13.0 metres core length in hole DH-16-07, followed closely by hole DH- 16-09, located 100 metres to the north, that returned 1.73 g/t gold over 28.0 metres core length. Both of these holes tested 55 metres and 40 metres, respectively, below the resource pit limit, the base of which was previously constrained by the lack of drilling. Drilling also extended the Karangosso Zone for approximately 600 metres north of the resource pit limit with the furthest north hole, a 350 metre stepout intersecting a narrow interval that returned 1.15 g/t gold over 1 metre. Drilling was not successful in extending the zone to the south, however, additional drilling is required in this area. | |
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