Business
Sarama Resources Ltd. - Positive Metallurgical Test Results From Houndé South Joint Venture Property
VANCOUVER , Aug. 22, 2014 /CNW/ - Sarama Resources Ltd. (" Sarama " or the " Company ") ...
About this update from Sarama Resources Ltd.
[{"type":"text","content":"\n\n\nVANCOUVER, Aug. 22, 2014 /CNW/ - Sarama Resources Ltd. (\"Sarama\" or the \"Company\") is pleased to advise that Savary Gold Corp. (\"Savary\") announced on August 21, 2014 that preliminary metallurgical testing\n results showed gold recoveries averaged in excess of 93% for\n sulphide/non-oxidised mineralisation from three prospects on the Houndé\n South property. The Houndé South property is part of the permit package\n under a Head of Agreement (\"HoA\") for the formation of a Joint Venture (\"JV\") between Sarama and Savary, who will retain operatorship.\n\n\nA summary of the gold extractions obtained by 72-hour cyanide bottle\n roll tests are as follows:\n\n\n\nKien - four samples averaging 95.4% Au extraction \n\n\n\n\nKarangosso - two samples average 87.3% Au extraction\n\n\n\n\nKueredougou - one sample with 96.5% Au extraction\n\n\n\n\n\n\nEach of the seven mineralized, fresh rock assay pulp samples (ground to\n 95% passing 106mm) were first re-assayed and then subjected to timed\n bottle roll gold recovery, with a cyanide-rich fluid and tested for\n gold content after 12, 24, 36, 48 and 72 hours*. Sarama is pleased with the high gold extractions achieved in this\n mineralisation which lies approximately 15 kilometres west of the\n Company's 1.5Moz1,2 South Houndé Project. The results of Savary's test work indicates that\n mineralisation and metallurgical performance can vary significantly\n between deposits within the same geological trends and regional belts\n which may have a bearing on future exploration undertaken by the\n Company.\n\n\nSarama believes the encouraging results of recent metallurgical testing\n and exploration activities on the JV area highlight the region's\n prospectivity and is optimistic about the Company's South Houndé\n Project reaching critical mass to support the development of a mine.\n\n\nJoint Venture Agreement Update\n\n\nSarama is close to finalizing the JV with Savary which follows a HoA\n signed with Savary on March 10, 2014. The HoA covers the establishment\n of a Joint Venture Company (\"JVCo\") holding Sarama's Sérakoro 1 property and Savary's Houndé South\n property in Burkina Faso.\n\n\nThe JVCo will be 65% owned by Savary and 35% owned by Sarama and will\n govern the JV's exploration and development activities over an area of\n 750 km2 in the hig...