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Last updated on April 18, 2014 at 21:21 EDT

Sarama Resources Doubles the Strike Length of Mineralisation at the Mm Prospect to 3.8km

June 27, 2013

TSX-V Ticker: SWA

SWA.WT

VANCOUVER, June 27, 2013 /PRNewswire/ – Sarama Resources Limited (“Sarama” or the “Company“) is pleased to report that recent extensional drilling at its South
Houndé Project in south-western Burkina Faso has extended the strike
length of mineralisation at the MM Prospect to 3.8km, doubling the
strike length defined previously.

Highlights

        --  Strike length of mineralisation extended to 3.8km, double the
            extent defined previously.
        --  Mineralised quartz-feldspar-porphyry units intersected by the
            drilling show a high degree of geological continuity and
            geometrical consistency.
        --  Drilling indicates the presence of higher-grade shoot controls,
            within the overall lower-grade extended mineralisation,
            illustrating down-dip exploration potential.
        --  Downhole intersection highlights from diamond and
            reverse-circulation ("RC") drilling include:

                            FRC666RE1     17.2m @       from
                            (diamond)     3.14 g/t     161.3m
                                             Au

                            FRC661         9.0m @       from      including
                            (RC)          3.57 g/t     114.0m     6.0m @
                                             Au                   5.12 g/t
                                                                  Au

                            FRC662        26.0m @       from      including
                            (RC)          1.84 g/t     28.0m      14.0m @
                                             Au                   2.33 g/t
                                                                  Au; and

                                                                  including
                                                                  4.0m @
                                                                  3.22 g/t
                                                                  Au

                            FRC686        28.0m @       from
                            (RC)          1.68 g/t     68.0m
                                             Au

                            FRC668        22.0m @       from
                            (RC)          1.89 g/t     39.0m
                                             Au

                            FRC665        17.0m @       from
                            (RC)          1.98 g/t     16.0m
                                             Au

                            FRC681RE1     22.3m @       from
                            (diamond)     1.60 g/t     129.4m
                                             Au

                            FRC813        26.0m @       from      including
                            (RC)          1.38 g/t     16.0m      10.0m @
                                             Au                   2.00 g/t
                                                                  Au
        --  Maiden mineral resource estimate expected to be complete in Q3
            2013.

Sarama has received assay results from recent diamond, RC and air-core
(“AC“) drilling programs at the MM Prospect which is situated on the Tankoro
exploration property within the Company’s South Houndé Project. The
extensional programs commenced in Q1 2013 and assay results for 1,400m
of diamond drilling (14 holes), 4,900m of RC drilling (43 holes,
including 4 pre-collars) and 1,500m of AC drilling (34 holes) are
listed in Appendices A, B and C respectively.

The drilling programs were designed as a first-pass test for a southerly
strike extension to the high-grade mineralisation defined at the MM
Prospect by previous drilling.  An induced-polarisation geophysical
survey conducted over the target area by Sarama in late 2012 identified
resistivity and chargeability anomalies which were interpreted to be
mineralised quartz-feldspar-porphyry dykes similar to the units hosting
the high-grade mineralisation to the north.

Mineralisation extending to a vertical depth of approximately 150m,
considered to be potentially amenable to open pit mining, was the main
focus of the drilling which was conducted on east-west lines spaced
approximately 110-120m along strike.  Holes were spaced at 40-60m
centres down-dip.

The drilling delineated a series of parallel quartz-feldspar-porphyry
dykes, interpreted to be striking north-north-east and dipping steeply
to the west.  This geometry is similar to the mineralised system
immediately to the north, resulting in a strike length extension of
1.9km and bringing the total continuously mineralised strike length to
3.8km (refer Figure 1).

Whilst the dyke system in the southern extension area appears to consist
largely of low grade mineralisation and is less geologically complex,
with fewer parallel lenses, than is characteristic of the system’s
northern extent, a series of higher-grade shoots present legitimate
targets for future exploration (refer Figures 2 and 3).

The southern extension of the MM Prospect, when combined with the
1.9km-long Phantom Prospect to the north, results in mineralisation
being intersected over a semi-continuous strike length of 5.7km.  This
begins to demonstrate the potential for a mineralised system of
significance and underscores the prospectivity of the 30km-long Tankoro
Structural Corridor as defined by earlier desktop studies and soil
geochemistry fieldwork.

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 MM East Prospect. 
The Company anticipates this additional area will contribute to the
estimation of a maiden resource estimate in Q3 2013.

Sarama’s President and CEO, Andrew Dinning commented:

“We are pleased with the results of the drilling programs which have
delineated continuous mineralisation over a 3.8km strike length at the
MM Prospect, highlighting the size of the mineralised system and the
success of our ground-based geophysical surveys in generating drill
targets. 

We look forward to the planned release of the maiden resource estimate
in Q3 2013 and expect that the results will assist exploration planning
to further investigate the nature of the higher-grade shoot controls
which are evident throughout the system.

Sarama is well funded with a cash balance of approximately US$11M
(unaudited as at 31 March 2013).”

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 (>3,300 km²), Liberia (>880 km²)
and Mali (>560 km²) and is aggressively exploring across the property
portfolio in Burkina Faso and Liberia.

Figure 1:    Recent Extensional Drilling at South of MM Prospect

Figure 2:    Southern MM Prospect Cross Section – 1175350mN

Figure 3:    Southern MM Prospect Cross Section – 1175050mN

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 and maiden resource estimate.  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.  True
mineralisation width is approximately 70% to 80% of intersection length
for holes drilled on east-west sections, dipping at -50° to -55° and
intersecting the NNE striking lenses.

The reported composites for diamond, RC and 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.

Sarama undertakes geological sampling and assays in accordance with its
QA/QC program which includes the use of certified reference materials
for diamond, RC and AC drilling and duplicates in the case of RC
drilling.

Gold assays for the RC and diamond drilling were undertaken by the SGS
S.A. laboratories in Morila, Mali and Ouagadougou, Burkina Faso, whilst
gold assays for the AC drilling were undertaken by the SGS S.A.
laboratory in Morila, Mali and the ALS Minerals 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.

RC drilling was generally designed using west-east oriented holes,
dipping at -50° to -55° to the east, approximately 100-130m in length. 
Holes were spaced approximately 40-60m apart along the drill lines.  RC
drill cuttings were sampled over regular 1m intervals.

Diamond drilling was generally designed using west-east oriented holes,
dipping at -50° to -55° to the east, of variable length.  Holes were
spaced approximately 40-60m apart along the drill lines.  Diamond core
was logged and sampled according to geological intervals.  Samples
submitted for assay were half core.

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.

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.

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.

APPENDIX A – SIGNIFICANT DIAMOND DRILL RESULTS

APPENDIX B – SIGNIFICANT RC DRILL RESULTS

APPENDIX C – SIGNIFICANT AC DRILL RESULTS

 

 

SOURCE Sarama Resources Limited


Source: PR Newswire