Business
Sarama Resources Targets Extensions to Mineral Resources at South Hounde Project in Burkina Faso
VANCOUVER, BC--(Marketwired - November 24, 2016) - Sarama Resources Ltd. ("Sarama" or the "Company") (TSX VENTURE: SWA) advises that aircore ("AC") and diamond
About this update from Sarama Resources Ltd.
[{"type":"text","content":"VANCOUVER, BC--(Marketwired - November 24, 2016) - Sarama Resources Ltd. (\"Sarama\" or the \"Company\") (TSX VENTURE: SWA) advises that aircore (\"AC\") and diamond drilling has commenced at the South Houndé Project (the \"Project\") in south-western Burkina Faso. The program is designed to build on encouraging results from the last drilling campaign and to test for strike and down-dip extensions to grow the current 2.1Moz1,2 gold inferred mineral resource to advance the Project. Highlights Encouraging intersections from previous drill programs and review of geophysical survey data have generated new targets that could add to the current 2.1Moz1,2 gold mineral resource at the South Houndé Project. 1,200m diamond drill program planned to target down-dip extensions of a high-grade lens at the MM Prospect to a vertical depth of 450m. 4,000m AC program planned to test for oxide mineralisation at the Djimbake Prospect, located a further 3.2km along strike from the southerly extent of the eastern horizon of the mineral resource. 2,200m AC program planned to test for oxide mineralisation along cross-structures inferred to link the MM-MC and Phantom East-MM Prospects. USD$3.5M (CAD$4.7M) exploration program, funded by Acacia Mining plc, is budgeted for 2017 including geochemical and geophysical surveys and drill programs. Sarama's President and CEO, Andrew Dinning, commented: \"After a phase of drilling in close proximity to the established mineral resource, we look forward to conducting step-out drilling to test for extensions to the strike of the mineral resource and also test down-dip of high-grade zones that have the potential to support underground mining. This drilling is expected to yield valuable geological information to further develop the geologic model and enhance targeting and, if successful, will highlight the potential for extensions to the mineral resource that will be followed-up in 2017. We firmly believe that the South Houndé Project has the potential to be an open pit and underground mining complex. The Project will play a key role in the development of the southern part of the Houndé Belt where Sarama has significant interests across three projects that collectively host a sizeable gold mineral resource.\" Diamond Drilling Depth Extension of High-Grade Lens -- MM Prospect A high-grade lens within the MM Prospect th...