Business
Sarama Resources Completes Successful Initial Scout Drill Program in Western Liberia
VANCOUVER , Sept. 8, 2014 /CNW/ - Sarama Resources Ltd. (" Sarama " or the " Company ") i...
About this update from Sarama Resources Ltd.
[{"type":"text","content":"\n\nVANCOUVER, Sept. 8, 2014 /CNW/ - Sarama Resources Ltd. (\"Sarama\" or the \"Company\") is pleased to announce the successful completion of its initial drill program at the Company's Cape Mount Project in western Liberia. The reconnaissance drill program featured widely spaced drill fences along an 8km portion of a previously delineated 15km-long soil anomaly (see press release January 13, 2014). The drill program has confirmed the presence of shallow, in-situ gold mineralisation within altered and locally deformed mafic and ultramafic volcanic rocks.\n\nThe 1,600m drill program was designed to test 3 distinct target areas marked by strong gold-in-soil anomalism and trench results outlining broad zones of anomalous gold values. Gold mineralisation was intersected in all but one of the drill holes with a number of intercepts containing occurrences of visible gold. \n\nThe Company is also pleased to advise that it has increased its ownership interest in Pedsam Mining Ltd to 100% in accordance with an earn‐in agreement between Sarama and Pedra Mining AS (Norway) (\"Pedra\"). Pedra will retain a net smelter return royalty of 1% should any of the properties achieve production. PedSam is a Liberian entity which has title to the Cape Mount, Gbarpolu and Grand Bassa permits.\n\nHighlights\n\n\n\nShallow, in-situ gold mineralisation confirmed over an 8km section of a 15km-long gold-in-soil anomaly \nGold mineralisation was intersected in all but one hole with occurrences of visible gold in a number of holes \nGold mineralisation is hosted in ultramafic rocks, a similar setting to the New Liberty Gold Deposit located 10km south \nHighlighted intersections include:\n\nCMDD002    3.0m @ 2.54g/t Au    from 33m \nCMDD004    7.5m @ 3.87g/t Au    from 9.3m \nCMDD006    6.0m @ 1.24g/t Au    from 7.8m \nCMDD007    5.0m @ 2.25g/t Au    from 28m \nCMDD008    17m @ 0.74g/t Au     from 26m                       3.0m @ 1.14g/t Au     from 48m                     &...