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Sarama Resources Increases Inferred Mineral Resources to 2.1 Million Ounces Gold at the South Hounde Project in Burkina Faso
VANCOUVER, BC--(Marketwired - February 08, 2016) - Sarama Resources Ltd. (TSX VENTURE: SWA) ("Sarama" or the "Company") is pleased to announce an 87% increase1
About this update from Sarama Resources Ltd.
[{"type":"text","content":" VANCOUVER, BC--(Marketwired - February 08, 2016) - Sarama Resources Ltd. (TSX VENTURE: SWA) (\"Sarama\" or the \"Company\") is pleased to announce an 87% increase1 in the oxide component of inferred mineral resources2 to 0.5 Moz3 of contained gold and a 40% increase4 in total inferred mineral resources to 2.1 Moz5 of contained gold at the South Houndé Project (the \"Project\") in south-west Burkina Faso. The revised mineral resource estimate represents a substantial increase in modelled gold mineralisation which is interpreted to extend for a strike length of over 10km within the Tankoro Structural Corridor, further demonstrating the scale of the mineralised system. Highlights 2.1 Moz gold contained in inferred mineral resource - 43.0 Mt @ 1.5 g/t Au5 0.5 Moz gold3 contained within the oxide component of the inferred mineral resource Growth in oxide component advances the mineral resource towards the critical mass required to support development of a modest heap leach operation if preferred to a larger gold plant configuration Inferred mineral resource estimate includes 1.1 Moz gold @ 2.7 g/t Au6, reflecting higher grade shoots within the mineralised system Mineral resources extend approximately 10.2km along strike within a lithological and structural corridor approximately 1.3km wide High-grade zones in the MM and MC Prospects have been locally tested down to approximately 415m below surface and represent ongoing exploration targets to delineate apparent controlling cross structures Preliminary metallurgical testwork demonstrates viable processing routes with resulting extractions of 85% for oxide using heap leaching, 93% for oxide using a conventional cyanidation process and 91% for fresh rock using an oxidation stage prior to cyanidation A US$3.5M (C$4.9M) exploration program is budgeted for 2016, focussing on new regional targets as well as extensional targets to move the project towards development Previous oxide component of the inferred mineral resource estimate was 5.4 Mt @ 1.6 g/t Au for 0.3 Moz Au reported above 0.8 g/t Au (refer to technical report titled \"The South Houndé Project, Bougouriba and Ioba Provinces, Burkina Faso, 28 October 2013\") As defined under Canadian National Instrument 43-101 (\"NI 43-101\"), Standards of Disclosure for Mineral Projects 13.5 Mt @ 1.2 g/t Au for 0.5 Moz Au reported above 0...