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Sarama Resources Announces Commencement of Drilling at the Karankasso Project JV in Burkina Faso
VANCOUVER, BC--(Marketwired - November 21, 2016) - Sarama Resources Ltd. (TSX VENTURE: SWA) ("Sarama" or the "Company") is pleased to advise that Savary Gold Co
About this update from Sarama Resources Ltd.
[{"type":"text","content":"VANCOUVER, BC--(Marketwired - November 21, 2016) - Sarama Resources Ltd. (TSX VENTURE: SWA) (\"Sarama\" or the \"Company\") is pleased to advise that Savary Gold Corp. (\"Savary\"), the operator of the Karankasso Project Joint Venture between Sarama (31% interest) and Savary (69% interest), has announced the commencement of drilling on the Karankasso Project in south-western Burkina Faso. The drill program is aiming to increase data density in existing zone interpretations to improve confidence in the current mineral resource and to extend known zones and test new gold-mineralised systems. In addition to the proposed drill program, further IP geophysical and soil sampling surveys are planned. Under the Joint Venture agreement with Savary, Sarama is responsible for 31% of expenditure with expenditure in excess of US$2,000,000 being subject to approval by both partners. Further details of the planned program are contained in Savary Gold's news release dated November 21, 2016. Sarama's President and CEO, Andrew Dinning commented: \"Sarama's interests in the 0.7Moz3,4 Karankasso Project, the adjacent 2.1Moz1,2 South Houndé Project and the 0.4Moz5,6 Bondi Deposit, places the Company in an enviable position to participate in the next stage of development in the prolific Houndé Belt where Roxgold Inc. has successfully commissioned the Yaramoko Mines and Endeavour Mining Corporation is currently constructing the Houndé Mine.\" ABOUT SARAMA RESOURCES LTD Sarama Resources Ltd (TSX VENTURE: SWA) is a West African focused gold explorer with substantial landholdings in Burkina Faso. Sarama is focused on consolidating under-explored landholdings in Burkina Faso and other established mining jurisdictions. 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 ...