Sarama Resources announced that it has re -started exploration activities at South Houndé Project in south-west Burkina Faso.
Image: A gold mineral. Photo: courtesy of carlos aguilar/Freeimages.com.
The announcement follows the recent agreement to terminate its earn-in agreement with Acacia Mining plc (“Acacia”) in respect of the South Houndé Project (the “Project”), the Company has re -started exploration activities with a focus on oxide drill targets.
This program marks the recommencement of active exploration and development activities on the Project following a hiatus of approximately 1½ years and also marks the resumption of works managed and controlled by Sarama on the Project, in which the Company is set to regain a 100% interest.
Sarama’s exploration program has been designed to increase the Project’s oxide and free-milling mineral resource base that currently totals approximately 600koz Au (oxide and transition components) out of a total 2.1Moz Au mineral resource. The program consists of approximately 7,000m of air-core drilling targeting oxide mineralisation in the southern part of the Project along strike from the current mineral resource.
Sarama’s objective is to grow the mineral resource base at the South Houndé and ThreeBee Projects to support the advancement of a low capital intensity, high return development project, exploiting the oxide and free-milling components of the mineral resources at both projects.
Drilling will primarily focus on the southern portion of the main mineralised corridor at the Obi, Kenobi and Djimbake Prospects where historical reconnaissance drilling returned promising intersections in oxide material, which are yet to be followed-up. These previously unreported intersections include
– 8m @ 4.25g/t Au from 34m in AC3628 (Obi Prospect)
– 6m @ 4.49g/t Au from 36m in AC3665 (Obi Prospect)
– 12m @ 1.80g/t Au from 10m in AC3627 (Obi Prospect)
– 10m @ 1.73g/t Au from 20m in AC3657 (Kenobi Prospect)
– 10m @ 1.46g/t Au from 28m in AC2665 (Djimbake Prospec
In addition, reconnaissance drilling will be undertaken at the new Ben Prospect, located approximately 500m to the west of the Project’s main MM Deposit. This prospect is a new early-stage target that has been generated by geophysical and geochemical surveys and is yet to be drill tested. The prospect area has the potential to open a new horizon of mineralisation to the west of the main mineralised corridor and presents an exploration opportunity which may deliver further additions to the oxide and free-milling inventory of the Project.
Sarama’s President and CEO, Andrew Dinning, commented: “We look forward to resuming our work programs and moving the South Houndé Project forward after such a long hiatus. We remain optimistic that the southern part of the mineralised corridor has the potential to add materially to the existing 600koz Au oxide and transitional component of the Project’s mineral resource and enhance the Company’s plans for development. In parallel to the exploration activities, we will continue with internal project-framing work that will be used to guide exploration efforts and focus on scoping out a low capital intensity and high return development opportunity.”
Source: Company Press Release