Business
Sarama Resources Defines 9km-Long Gold-In-Soil Anomaly at the Cape Mount Property in Liberia and Increases its Interest in Pedsam Properties to 50%
TSX-V Ticker: SWA SWA.WT VANCOUVER, Aug. 24, 2012 /CNW/ - Sarama Resources Limi...
About this update from Sarama Resources Ltd.
[{"type":"text","content":"\n\n\n\n\n\nTSX-V Ticker: SWA\nSWA.WT\n\n\nVANCOUVER, Aug. 24, 2012 /CNW/ - Sarama Resources Limited (\"Sarama\" or the \"Company\") is pleased to report that a 9km-long gold-in-soil anomaly, proximal\n to the 1.7 million ounce resource New Liberty Gold Project, has been\n defined by geochemical surveys at the Cape Mount exploration property\n (\"Cape Mount\") in western Liberia.  Sarama has also increased its interest in the\n Pedsam properties in Liberia to 50% after achieving the required\n earn-in milestones.\n\n\n\n\n\nHighlights\n\n\nA 9km-long gold-in-soil anomaly has been defined by a geochemical survey\n on the southern portion of the Cape Mount exploration property.\n\n\nThe anomalous zone is coincident with a major geological feature\n identified by a detailed airborne geophysical survey in an area that\n hosts extensive artisanal and small-scale gold mining activity.\n\n\nThe presence of the anomalous zone in a geological terrane that is\n similar to Aureus Mining Inc's 1.7 Moz resource New Liberty Gold\n Project augers well for Cape Mount to host gold mineralisation of\n significance.\n\n\nSarama increases its interest in the Cape Mount, Gbarpolu and Grand\n Bassa exploration properties to 50% after achieving earn-in milestones.\n\n\n\n\n\nSarama has received assay results for approximately 75% of a soil\n geochemical survey it undertook on the 200km² Cape Mount exploration\n property in late 2011 and 2012.\n\n\nA principal sample grid spacing of 400m (east-west) x 50m (north-south)\n was used for the surveys with several areas being sampled at a higher\n density (200m x 50m spacing) after being identified as high priority\n targets based on structural setting, airborne geophysical results and\n prevalence of artisanal mining activity.\n\n\nThe survey identified a 9km-long gold-in-soil anomaly in the southern\n portion of the property, in an area which hosts artisanal and\n small-scale gold mining activity (refer Figure 1).  The anomalous zone\n is also co-incident with several geologically prospective features\n identified by an airborne geophysical survey conducted by the Company\n in 2012.  The location of the Aureus Mining Inc's 1.7 Moz resource New\n Liberty Gold Project approximately 10km south-east of Cape Mount, and\n similarities interpreted in the airborne magnetic signatures of th...