Sarama Resources is pleased to advise that Savary Gold Corp. ("Savary"), the operator of the Karankasso Project Joint Venture between Sarama (35% interest) and Savary (65% interest), has announced the recommencement of drilling on the Karankasso Project in south-western Burkina Faso.
The jointly-approved 6,500m drill program is designed to follow-up on four of the six zones that contain mineral resources and to test new targets with the aim of expanding the current mineral resource and discovering new zones. Savary management noted that initial core drilling will test both existing and new gold-mineralized systems which in their view demonstrate the best potential for both size and grade.
Approximately 25% of the program will be core holes with the remainder being reverse circulation. It is expected that the drill program will take approximately six weeks to complete.
Sarama’s President and CEO, Andrew Dinning commented: "Sarama’s interests in the 0.7Moz 3,4 Karankasso Project and the adjacent 2.1Moz 1,2 South Houndé Project, places the Company in an enviable position to participate in the next stage of development in the prolific Houndé Belt where Roxgold and Endeavour are currently constructing new mines."
Sarama Resources Ltd. (TSX VENTURE: SWA) is a West African focused gold explorer with substantial landholdings in Burkina Faso.
Sarama’s flagship properties are situated within the Company’s South Houndé Project area in south-west Burkina Faso. Located within the prolific Houndé greenstone belt, Sarama’s exploration programs have built on significant early success to deliver an inferred mineral resource estimate of 2.1 Moz gold1,2.
Acacia Mining plc is earning up to a 70% interest in the South Houndé Project by satisfying certain conditions, including funding earn-in expenditures of up to US$14 million, over a 4-year earn-in period and may acquire an additional 5% interest, for an aggregate 75% interest in the Project, upon declaration of a minimum mineral reserve of 1.6 million ounces of gold.
Sarama is focused on consolidating under-explored landholdings in Burkina Faso and other established mining jurisdictions.