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Sarama Resources to Regain 100% Ownership of South Hounde Project In South-West Burkina Faso
VANCOUVER, BC / ACCESSWIRE / November 27, 2018 / Sarama Resources Ltd. (" Sarama" or the " ...
About this update from Sarama Resources Ltd.
[{"type":"text","content":"Sarama Resources to Regain 100% Ownership of South Hounde Project In South-West Burkina FasoVANCOUVER, BC / ACCESSWIRE / November 27, 2018 / Sarama Resources Ltd. (\"Sarama\" or the \"Company\") (TSX-V: SWA) is pleased to announce that it has executed a Heads of Agreement (the \"Agreement\") with Acacia Mining plc (\"Acacia\") that provides for the termination the 2014 earn-in agreement between the two companies in respect of the South Houndé Project (or the \"Project\") in south-western Burkina Faso.The Agreement provides for Sarama to resume operatorship and regain a 100% interest in the Project, which is contiguous to Sarama's neighbouring 100%-owned ThreeBee Project(4) (refer to Figure 1).The two project areas cover approximately 1,400km² of prospective greenstone terrane and will be Sarama's principal focus to advance towards mine development, underpinned by the current inventory of free-milling material, suitable for processing by heap leaching or a conventional gold plant. It is anticipated that the Project's 2.1Moz Au(1) inferred mineral resource will form the foundation for development and be supplemented by the ThreeBee Project where recent exploration success demonstrates good potential to add to the historical estimate of mineral resources at the Bondi Deposit (0.3Moz Au measured and indicated, 0.1Moz inferred)(2).Highlights Agreement with Acacia provides for Sarama to regain a 100% ownership interest and operatorship of the Project(7). Completion will increase Sarama's 100%-owned interests in the southern Houndé Belt to approximately 1,400km². The Project hosts an inferred mineral resource of 2.1Moz Au(1), which includes 0.6Moz Au(1) of oxide and transition material. In addition, the Bondi Deposit, within the ThreeBee Project, has a historical estimate of mineral resources of 0.3Moz Au (measured and indicated) and 0.1Moz Au (inferred)(2). Project development will focus on the free-milling components of the mineral inventories which have yielded high metallurgical recoveries in heap leach and conventional gold plant basedtestwork. Scope for additions to the mineral inventories is demonstrated by recent(6) reconnaissance drilling by Sarama at the new Zawana and SE Splay Prospects on the ThreeBee Project: 22m @ 3.85g/t Au from 5m in DJR0029; 29m @ 1.44g/t Au from 1m and 10m @ 1.24g/t Au from 67m in ...