Significant gold discovery in Burkina Faso
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Sarama Resources Announces Private Placement To Fund Exploration Programs In Burkina Faso


Sarama Resources Identifies Gold-In-Soil Anomalism Over 10Km-Long Trend At Its 100%-Owned Botoro Property, Burkina Faso


Sarama Resources Increases Exploration Interests In The Houndé Belt, Burkina Faso


Sarama Resources Reports Final Q1 2017 Drill Results For Karankasso Project In Burkina Faso

Exploring For Gold In Burkina Faso

Sarama’s landholding in Burkina Faso totals 21 properties and covers an area of 2,925km2. The exploration focus in Burkina Faso is on the southern Houndé Greenstone Belt, located approximately 260km west of the capital Ouagadougou. The region is host to some of the Country’s largest gold deposits, yet remains relatively open and underexplored.

The Company’s flagship landholding in Burkina Faso is the South Houndé Project, which is situated in the same belt and stratigraphy as Semafo Ltd’s Mana mine and Endeavour Mining’s Houndé Project.

The South Houndé Project totals approximately 1,000km² and hosts a maiden Inferred Mineral Resource of 29.13 Mt at 1.6 g/t Au for 1.5 Moz at a 0.8 g/t cut-off including 16.36 Mt at 2.1 g/t Au for 1.1 Moz at a 1.2 g/t cut-off. Approximately fifty percent of the gold contained in the resource averages 2.6 g/t. The potential for further exploration success is supported by the size of the maiden Inferred Mineral Resource estimate and its location within the 30km-long Tankoro Structural Corridor.  

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.

 
Exploration programs are focused on the identification of oxide and free-milling targets, whilst prioritising nearby prospects where high-grade mineralisation remains open. 

Country Highlights

  • +2,925km2 prospective landholding
  • 100km strike of soil anomalies to explore on the South Houndé Project
  • Significant new greenfields gold discovery at the MM Prospect
  • Recently announced maiden resource at the MM, MC and Phantom Prospects, released September 2013
  • 88,000m of RC/DD/RAB drilling in 2012
  • 69,000m of RC/DD/RAB drilling completed in 2013
  • Management based in Ouagadougou
  • Houndé Belt is an attractive destination with significant endowment

Tankoro Permit

MM Prospect

The Tankoro property is part of the Company’s South Houndé Project and covers an area of 250km2. The main exploration focus for the Tankoro property has been the MM Prospect where a 3.8km strike length of mineralisation has been defined to date.

A successful scout RC drilling program completed in 2011 identified a significant mineralised system at the MM Prospect, consisting of stacked lodes extending over a 1.4 km distance along strike and to 250m vertical depth. The geometry and grades of the mineralisation intersected in the drilling programs appears to be amenable to open pit mining.

Extensional programs completed in the first half of 2013 focused on near-field extensions of mineralisation at the MM Prospect and included diamond drilling, RC drilling and AC drilling. The drilling programs extended the strike length of mineralisation at the MM Prospect to over 3.8km, and took total strike length of mineralisation to over 5.5km. Associated infill drilling has also confirmed the geological continuity and grade distribution of the interpreted mineralisation system. Of note has been was the definition of a thick (approximately 10m true width), high-grade zone in the south of the MM Prospect with mineralisation drilled to 285m depth where it remains open. The identification of this high-grade zone, combined with its continuity, represents a legitimate underground exploration target.

AC drilling has been undertaken to test anomalies identified during a ground-based IP program in the Tankoro structural corridor. This drilling demonstrated IP is a valid tool for drill targeting and confirmed the presence of mineralisation at several prospects which will be further tested with RC drilling.  

MC Prospect

With the completion of the programs at the MM Prospect, Sarama is now focussing on the evaluation of shallow, high-grade mineralisation intersected approximately 400m to the east, at the MC Prospect.

Drill programs in 2013 intercepted large zones of high grade mineralisation in both oxide and primary rock, forming targets for future exploration programs.

Next Steps

With the completion of the maiden resource estimate at the South Houndé Project, exploration going forward will initially focus on three areas:

  1. Deep reverse circulation/diamond core drilling at the Tankoro Resource to further test strike, depth and plunge potential to known mineralisation to better understand geometry, controls and continuity, to evaluate potential for underground development and to extend and expand the current resource;
  2. Oxide program – reverse circulation and diamond core drilling to define and expand the “oxide” resource base. At least six target areas remain to be tested.
  3. New discovery program – high resolution airborne magnetic and radiometric survey, surface geochemistry, ground geophysical survey (Induced Polarisation), RAB, Aircore and Reverse Circulation drilling to provide framework and define, delineate and test existing and new targets. Recently completed regolith mapping has shed new understanding on the nature of surface geochemical responses.

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