Karankasso Project

Karankasso Project

Part of the Bigger Picture Regional Consolidation Optionality

Corporate Presentation
750Km² Landholding
709,000oz Au Target

Developing Burkina Faso’s next gold district.

PROJECT OVERVIEW

  • CURRENT STANDING Exploration stage
  • LOCATION Adjacent the Sanutura Project
  • MINERAL RESOURCE 709,000oz Au
  • OWNERSHIP 18% Sarama Resources

Project Highlights

The Karankasso Project covers approximately 750km² and is situated adjaent to Sarama’s Sanutura Project. Exploration is focused on a 50km long corridor defined by soil anomalies and artisanal workings. As at June 30 2021, the Company held an approximate 18% interest in the Karankasso JV with Endeavour Mining being the operator. Longer term, Sarama believes that the Karankasso JV will play an important role in regional consolidation with Sarama and Endeavour Mining controlling over 2,500km² of contiguous landholdings and where over five million ounces of gold has already been discovered.

The Karankasso Project is situated 130km southwest of Endeavour Mining’s Mana Mine, Fortuna Silver’s Yaramoko Mine and 60km south of Endeavour Mining’s Houndé Mine.

An updated mineral resource estimate of 12.74Mt @ 1.73g/t for 709koz Au(1) was published in February 2020 and further exploration work has been undertaken since that time.

Endeavour Mining is the operator and is reviewing and upgrading historical exploration up to an acceptable standard and following up on previous high-grade hits including 21m@14.6g/t Au at the Tiébe Zone. Most mineralisation presents as narrow quartz veins, and exploration efforts are seeking to identify areas where mineralised volumes increase and identify the core of the system.

Tenement Boundary

Footnotes

(1) Karankasso Project – mineral resource estimate – 12.74Mt @ 1.73g/t Au for 709koz Au (effective date of December 31, 2019). The mineral resource estimate was disclosed on February 24, 2020 by Semafo Inc (“Semafo”, now Endeavour) and is presented in combination with the mineral resource estimate for the adjacent Bantou Property (owned 100% by Semafo, now Endeavour). For further information regarding the mineral resource estimate please refer to the technical report titled “Bantou Project NI 43-101 Technical Report – Mineral Resource Estimate”, dated April 3, 2020 and prepared by Patrik Perez, Claude Bisaillon, Jordan Zampini, Francois Thibert and Richard Roy. Messers Perez, Bisaillon and Zampini are employees of Met-Chem (DRA Americas Inc) and are independent of Sarama and Semafo (now Endeavour). Messers Thibert and Roy were employees of Semafo Inc and are independent of Sarama only. The technical report is available under Semafo’s profile on SEDAR at www.sedar.com Sarama has not independently verified the mineral resource estimate and takes no responsibility for its accuracy. Semafo (now Endeavour) is the operator of the Karankasso Project JV and Sarama is relying on their Qualified Persons’ assurance of the validity of the mineral resource estimate.