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Last updated on April 19, 2014 at 13:20 EDT

Sarama Resources Confirms 1.8km Long Mineralised Trend North of the MM Prospect in Burkina Faso

January 23, 2013

TSX-V Ticker: SWA
SWA.WT

VANCOUVER, Jan. 23, 2013 /PRNewswire/ – Sarama Resources Limited (“Sarama” or the “Company“) is pleased to report that recent reverse-circulation (“RC“) and air-core (“AC“) drilling at the Tankoro Prospect at its South Houndé Project in
south-western Burkina Faso has returned encouraging intersections
across all target areas and has notably confirmed the presence of a
1.8km-long mineralised trend at the Phantom Prospect, immediately along
trend from the Company’s 1.9km-long MM Prospect.

Highlights

        --  1.8km-long mineralised trend confirmed at the Phantom Prospect,
            immediately north of the MM Prospect.
        --  Further zones containing multiple significant intersections
            identified within the Phantom Prospect and in close proximity
            to the MM Prospect.
        --  Strong mineralisation encountered in scout drilling
            approximately 1.2km along strike from the main MM mineralised
            system.
        --  Downhole intersection highlights listed by prospect include:

                                           8.0m              RC   including
                                             @                    2.0m @
                                           3.39                   10.24 g/t
                                            g/t    from           Au
                        Phantom   FRC643    Au     48.0m

                                           14.0m             RC   including
                                             @                    10.0m @
                                           6.22                   8.52 g/t
                                            g/t    from           Au
                        Phantom   FRC564    Au     surface

                                           10.0m             RC
                                             @
                                           5.50
                                            g/t    from
                        Phantom   FRC562    Au     82.0m

                                           10.0m             AC   including
                                             @                    2.0m @
                                           5.25                   18.35 g/t
                                            g/t    from           Au
                        Phantom   AC385     Au     10.0m

                                           8.0m              RC
                                             @
                                           5.68
                                            g/t    from
                        Phantom   FRC563    Au     42.0m

                                           12.0m             AC   including
                                             @                    2.0m @
                                           2.25                   9.92 g/t
                                            g/t    from           Au
                        Phantom   AC379     Au     16.0m

                                           21.0m             RC
                                             @
                                           2.50
                                            g/t    from
                           MM     FRC630    Au     93.0m

                                           14.0m             RC
                                             @
                                           4.99
                                            g/t    from
                           MM     FRC631    Au     34.0m

                                           13.0m             RC
                                             @
                                           1.99
                                            g/t    from
                        MM-East   FRC513    Au     43.0m

                                           7.0m              RC
                                             @
                                           4.12
                                            g/t    from
                        MM-East   FRC579    Au     44.0m
        --  Potential remains for further extensions in all target areas.

Sarama has received assay results from recent RC and scout AC drilling
programs commenced in October 2012 on the Tankoro exploration property
within the Company’s South Houndé Project.  The programs are part of
the regional exploration strategy for the 30km-long Tankoro Structural
Corridor that have been undertaken in parallel with its work at the
more advanced MM Prospect (refer news release 14(th) January 2013).

The recent drill programs focused on the Phantom, MM-East, Obi and
Dlarakoro prospects, all of which are situated along trend from
Sarama’s gold discovery at the MM Prospect (refer Figure 1).  In addition to these prospect areas, drilling targeted zones within
the MM Prospect that are interpreted to be parallel to the main
mineralisation system.

Results for approximately 11,500m RC (113 holes) and 9,700m (262 holes)
AC drilling are listed in Appendices A and B respectively.  Figure 2
shows highlighted results.

The programs were designed to follow-up significant intersections from
previous scout drilling, further test gold-in-soil anomalies and test
targets generated from ground-based geophysical surveys recently
completed by Sarama.

Successful target generation and recent drilling has returned
significant intersections across six regional areas:

        --  Area A - multiple RC and AC intersections in the central zone
            of the Phantom Prospect, contained in 12 drill lines covering
            an interpreted strike length of 1.8km, including 7.0m @ 3.27
            g/t Au, 4.0m @ 3.28 g/t Au, 6.0m @ 2.40 g/t Auand 7.0m @ 2.26
            g/t Au(refer Figure 3), with mineralisation being of a similar
            grade and geometry to that encountered at the MM Prospect, but
            predominantly presenting as a single lode;
        --  Area B - three adjacent RC intersections of 10.0m @ 5.50 g/t
            Au, 8.0m @ 5.68 g/t Auand 14.0m @ 6.22 g/t Au drilled on a
            single scout line located in the east of the Phantom Prospect,
            approximately 750m from the MM mineralisation (refer Figures 3
            and 4);
        --  Area C - multiple AC intersections in the west of the Phantom
            Prospect, from a group of four drill lines spanning an
            interpreted strike length of approximately 500m, including
            10.0m @ 5.25 g/t Au, 12.0m @ 2.25 g/t Au, 2.0m @ 7.75 g/t Au
            (hole ended in mineralisation), 2.0m @ 3.89 g/t Au (hole ended
            in mineralisation) and 2.0m @ 3.39 g/t Au (hole ended in
            mineralisation) (refer Figure 3);
        --  Area D - two adjacent RC intersections of 14.0m @ 4.99 g/t
            Auand 21.0m @ 2.50 g/t Au drilled on a single scout line
            located in the far south of the MM Prospect, approximately
            1.2km south-west and along trend from the defined MM
            mineralisation (refer Figure 3 and 5);
        --  Area E - multiple RC intersections over four drill lines
            striking 1.6km at the MM-East Prospect, including 7.0m @ 4.12
            g/t Au, 13.0m @ 1.99 g/t Au, 8.0m @ 1.92 g/t Au and 10.0m @
            1.81 g/t Au(refer Figure 3); and
        --  Area F - multiple RC and AC intersections in scout lines in two
            distinct areas within the Dlarakoro Prospect including 7.0m @
            3.89 g/t Au, 10.0m @ 2.11 g/t Au and 4.0m @ 2.72 g/t Au(refer
            Figure 3).

The results clearly demonstrate the presence of multiple parallel
mineralised ‘limbs’ of significant strike length within the Tankoro
Structural Corridor with similar grade characteristics and potentially
similar geometry to the mineralisation already defined at the MM
Prospect.  Drilling to date has returned significant intersections
along 11.5km of the trend and has identified a mineralised trend
approximately 800m in width.

Sarama is continuing the drill programs at key regional targets,
focusing initially on areas proximal to the MM Prospect and which are
likely to deliver extensions to the mineralised zones.

Sarama’s President and CEO, Andrew Dinning commented:

“We are very pleased with these results which continue to demonstrate
the potential for the Tankoro Structural Corridor to host multiple
zones of economic mineralisation.  The confirmation of the 1.8km-long
mineralised trend at the Phantom Prospect, along with the intersection
of other zones to the south and proximal to the MM mineralisation, is
of significant value from a project development perspective and these
areas will be a key focus in Sarama’s future exploration activities.”

For further information on the Company’s activities, please contact:

Andrew Dinning or Paul Schmiede
email:  info@saramaresources.com
telephone: +61 8 9363 7600

Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.

About Sarama Resources Ltd
Sarama Resources Ltd is a Canadian company with a focus on the
exploration and development of gold deposits in West Africa.  The board
of directors and management team, a majority of whom are founders of
the Company, are seasoned resource industry professionals with
extensive experience in the exploration and development of world-class
gold projects in Africa.

The South Houndé Project in south-west Burkina Faso is the Company’s
flagship property and is currently the focus of an aggressive
exploration program to increase the size of its maiden discovery and to
test gold-in-soil anomalies located in a 30km-long structural
corridor.  Recent drilling programs at the South Houndé Project have
intersected significant mineralisation in several prospect areas which
the Company is actively following up.  The Company has built
substantial early stage exploration landholdings in prospective and
underexplored areas of Burkina Faso (3,100 km²), Liberia (>2,400 km²)
and Mali (>560 km²) and is aggressively exploring across the property
portfolio.

Figure 1:    Tankoro Prospect Locations

Figure 2:    Recent Regional Drilling Across Tankoro Permit

Figure 3:    MM and Phantom Prospects with Highlighted Results and
Mineralised Extents

Figure 4:   Cross Section @ 1171800mN – Eastern Side of Phantom Prospect
Looking North

Figure 5:   Cross Section @ 1175150mN – Single Scout Drill Line -
Southern MM Prospect Looking North

Caution Regarding Forward Looking Statements
Information in this news release that is not a statement of historical
fact constitutes forward-looking information.  Such forward-looking
information includes statements regarding the Company’s planned
exploration programs.  Actual results, performance or achievements of
the Company may vary from the results suggested by such forward-looking
statements due to known and unknown risks, uncertainties and other
factors. Such factors include, among others, that the business of
exploration for gold and other precious minerals involves a high degree
of risk and is highly speculative in nature; few properties that are
explored are ultimately developed into producing mines; geological
factors; the actual results of current and future exploration; changes
in project parameters as plans continue to be evaluated, as well as
those factors disclosed in the Company’s publicly filed documents.

There can be no assurance that any mineralisation that is discovered
will be proven to be economic, or that future required regulatory
licensing or approvals will be obtained. However, the Company believes
that the assumptions and expectations reflected in the forward-looking
information are reasonable. Assumptions have been made regarding, among
other things, the Company’s ability to carry on its exploration
activities, the sufficiency of funding, the timely receipt of required
approvals, the price of gold and other precious metals, that the
Company will not be affected by adverse political events, the ability
of the Company to operate in a safe, efficient and effective manner and
the ability of the Company to obtain further financing as and when
required and on reasonable terms. Readers should not place undue
reliance on forward-looking information.

Sarama does not undertake to update any forward-looking information,
except as required by applicable laws.

Notes – Drilling
Drilling results are quoted as downhole intersections.  Due to the
preliminary stage of the drilling, the nature of the mineralisation is
not fully understood and it is therefore not appropriate to provide
guidance on the relationship of the downhole intersection length to the
true width of mineralisation.

RC drilling was generally designed using west-east oriented holes,
dipping at -55° to the east, approximately 100m in length.  Drilling on
the ‘Obi’ Prospect was oriented on north-west to south-east lines. 
Holes were spaced approximately 40-60m apart along the drill lines.  RC
drill cuttings were sampled over regular 1m composited intervals.

AC drilling was generally designed using west-east oriented holes,
dipping at -55° to the east, approximately 50m in length.  AC drilling
proceeded to design or cutting head refusal.  Holes were spaced
approximately 40-60m apart along the drill lines.  AC drill cuttings
were sampled over regular 2m composited intervals.

The reported composites for RC drilling were determined using a cut-off
grade of 0.30g/t Au to select significant and anomalous intersections,
with a maximum of 2m internal dilution being incorporated into the
composite where appropriate.  No top-cuts were applied to assay
grades.  Isolated mineralised intersections less than 2m in length have
not been reported.

The reported composites for AC drilling were determined using a cut-off
grade of 0.30g/t Au to select significant and anomalous intersections,
with a maximum of 2m internal dilution being incorporated into the
composite where appropriate.  No top-cuts were applied to assay
grades.  Isolated mineralised intersections less than 2m in length have
not been reported.

For RC drilling Sarama undertakes geological sampling and assay in
accordance with its QA/QC program which includes the use of certified
reference materials and field duplicates.  No certified reference
materials or field duplicate based QA/QC regimes were adopted for the
AC drilling due to the preliminary nature of the program.

RC drill samples were assayed for gold by the SGS S.A. (“SGS“) laboratory in Morila, Mali and the ALS Group laboratory in
Ouagadougou, Burkina Faso.  AC drill samples were assayed for gold by
the ALS Group laboratory in Ouagadougou, Burkina Faso.  Assays are
determined by fire assay methods using a 50 gram charge, lead
collection and an AAS finish with a 0.01g/t Au lower detection limit.

Qualified Person’s Statement
Scientific or technical information in this news release that relates to
the Company’s exploration activities in Burkina Faso is based on
information compiled or approved by Michel Mercier.  Michel Mercier is
an employee of Sarama Resources Ltd and is a member in good standing of
the Ordre des Géologues du Québec and has sufficient experience which
is relevant to the commodity, style of mineralisation under
consideration and activity which he is undertaking to qualify as a
Qualified Person under National Instrument 43-101.  Michel Mercier
consents to the inclusion in this report of the information, in the
form and context in which it appears.

APPENDIX A – SIGNIFICANT RC DRILL RESULTS

APPENDIX B – SIGNIFICANT AIRCORE DRILL RESULTS

 

 

 

SOURCE Sarama Resources Limited


Source: PR Newswire