Drilling Identifies Multiple Gold Zones on Savary Gold's Hounde South Concessions in the Prolific Hounde Gold Belt in Burkina...
May 14 2014 - 6:36AM
Marketwired Canada
Savary Gold Corp. (TSX VENTURE:SCA) ("Savary") has received the results of its
recently completed drill program that was designed to complete Savary's earn-in
requirements at its Hounde South option property in southwestern Burkina Faso
(see figure 1). This program was successful in extending the known gold zones
and resulted in the discovery of a series of exciting, new, closely spaced gold
zones. A summary of significant results are as follows:
-- 2.90 g/t gold over 27.0 metres at Karangosso
-- 2.92 g/t gold over 5.60 metres at Karangosso
-- 1.51 g/t gold over 15.0 metres at Kien
-- 1.52 g/t gold over 15.7 metres at Kien
-- 0.87 g/t gold over 19.5 metres at Kien
-- 8.90 g/t gold over 3.8 metres at Kien
-- 2.34 g/t gold over 7.0 metres at Kien
-- 0.89 g/t gold over 28.0 metres at Kien
-- 0.89 g/t gold over 30.0 metres at Kien
-- 1.36 g/t gold over 15 metres at Kien
-- 1.87 g/t gold over 9.0 metres at Kien
-- 7.26 g/t gold over 3.0 metres at Kueredougou
The Hounde South property ("Property") is located approximately 300 kilometres
southwest of Ouagadougou, Burkina Faso's capital city and 60 kilometres east of
Bobo Dioulasso, the second largest city in Burkina Faso. The Property can be
accessed by a paved highway with both rail and grid power coming within
approximately 65 kilometres of the property.
During the period from March 4, 2014 to May 1, 2014, Savary completed 5,565
metres of drilling in 44 core and reverse circulation holes on its Hounde South
property. Drill holes tested previously recognized gold zones and geochemical
and geophysical targets in the Karangosso, Kien and Kueredougou areas (see
figures). The gold-bearing trends were extended in all three areas, with the
best results returned from Kien where multiple gold-bearing zones were
intersected over a large area. Savary management believes that additional
drilling will extend the zones northeast along strike. Most holes were spaced
200 metres apart with a single line of in-fill drilling at 100 metre spacing at
Kien. A summary of assay composites using a 0.5 g/t cut-off is appended to the
end of this news release.
To view Figure 1, visit the following link:
http://media3.marketwire.com/docs/945747-F1.pdf.
Don Dudek, Savary's President and CEO commented: "While waiting for assays for
the Karangosso zone, the core drill was moved onto the Kien zone, where it
quickly became apparent that the Kien area hosts multiple, parallel gold zones
and that our initial target area, which had returned 2.0 g/t gold over 21.0
metres, is much more than originally believed. It also became apparent, that the
gold zones are associated with a strong northeast trending geophysical anomaly
and a predominantly untested, long strike length, artisanal trend. As a result,
the remainder of the drilling was focussed on this zone, which is now the
highest priority on the property and the most likely place for Savary to build a
material mineral resource."
Work completed for 100% Ownership Earn-in
In management's opinion, Savary has completed US$ 3 million in work on the
Hounde South property, over the past two years to meet the earn-in requirements
for a 100% ownership in the Hounde South property from Endeavour Mining
Corporation. Confirmation of Savary's earn-in is pending an expenditure and work
review by Endeavour.
Kien Prospect
A growing zone of gold mineralization has been discovered in the Kien area
approximately 1.0 kilometre south of a highway that has a direct link to Bobo
Dioulasso. Drilling has returned narrower, higher grade intercepts of up to 8.90
g/t gold over 3.9 metres to wider zones of mineralization grading up to 0.89 g/t
gold over 30.0 metres. Drill holes at Kien have intersected at least eight,
northerly- to northeast-trending, mineralized zones with drilling now tracing
mineralization along an open ended 2.0 kilometre strike length (see figure 2).
Predominantly historic, artisanal activity, with supporting induced polarization
chargeability geophysical anomalies and prospect assay samples, extends the
northerly-trending gold-bearing structures intermittently for at least 1,000
metres and the northeast trending gold-bearing structures for approximately
2,000 metres (see figure 2). It is anticipated that many of the gold zones
identified by drilling can be extended northeast along strike. Gold-bearing
mineralization is widespread, focussed at unit contacts, hosted by multiple rock
types and associated with sericite-, quartz-, pyrite- and locally
fuschite-alteration. Future work will focus on tracing the mineralized zones to
the northeast along the trend of the geophysical anomaly and artisanal trends
and working toward building a material resource.
To view Figure 2, visit the following link:
http://media3.marketwire.com/docs/945747-F2.pdf.
Karangosso Prospect
Karangosso hosts a new type of gold mineralization hosted within a locally
quartz porphyritic alkaline granite. This type of target can result in the
discovery of large deposits and is encouraging that good grades have been
encountered in the drilling indicating potential for both tonnes and grade.
Follow-up drilling has returned up to 2.97 g/t gold over 27.0 metres with
drilling extending the sericite-pyrite-carbonate + tourmaline alteration zone
for 1,600 metres along strike with the gold-bearing portion of the zone traced
for approximately 800 metres along strike (see figure 3). The highest grades are
encountered near the intersection of the altered alkaline granite and a
cross-cutting magnetite-tourmaline alteration zone. The mineralized zone is open
to the north and south, but weakens away from the initial discovery. During this
current program, both magnetic and induced polarization geophysical surveys were
carried out with resistivity geophysical data providing the best correlation
with the mineralized and altered zones. Future work in this area will consist of
tracing the zone northward with additional soil sampling and further geophysical
surveys if warranted.
To view Figure 3, visit the following link:
http://media3.marketwire.com/docs/945747-F3.pdf.
Kueredougou Prospect
A total of five reverse circulation holes were completed to test the interpreted
strike extension of the Kueredougou gold zone. Only five of the ten planned
holes were completed as the reverse circulation drill was re-prioritized to the
Kien area. However, this limited program succeeded in extending the Kueredougou
mineralized trend for an additional 500 metres to the north with one hole
HS-RC-14-15 returning multiple intercepts, the best of which returned 7.26 g/t
gold over 3.0 metres and 2.24 g/t gold over 3.0 metres (see figure 4).
Gold-bearing mineralization, along the Kueredougou trend, can now be traced for
approximately 2.9 kilometres along strike with drill hole intercepts of 2.51 g/t
gold over 18.0 metres, still requiring follow-up.
To view Figure 4, visit the following link:
http://media3.marketwire.com/docs/945747-F4.pdf.
Joint Venture Agreement with Sarama Resources Limited
Savary and Sarama Resources Limited are close to finalizing a joint venture
agreement which follows a Heads of Agreement (HoA) which was signed on March 10,
2014 (see Savary news release dated March 11, 2014). This will unify the
operatorship of Savary's 500 square kilometre Hounde South property and Sarama's
250 square kilometre Serakoro 1 property. The resultant joint venture company
will be 65% owned by Savary and 35% owned by Sarama with Savary the operator as
long as it controls a majority interest in the joint venture project. The
combined properties host a 50 kilometre and a 24 kilometre long, mining camp
scale, gold-in-soil anomalies, which when tested, have returned numerous
gold-bearing intercepts that will require follow-up (see figure 5).
To view Figure 5, visit the following link:
http://media3.marketwire.com/docs/945747-F5.pdf.
QA/QC comments
Savary's procedures for handling reverse circulation drill chips comprise
initial splitting of the rock chips from one metre drill length samples into
approximately 2.5 kilogram samples, as well as description and logging into a
database. NQ-size, core assay samples are first logged into a database and then
are sawn in half with half of the core submitted for analyses; the length of the
core samples depends on logged geological controls with samples varying from 0.3
metres to 2.0 metres in length. For core, assay standard samples are inserted
every 10th sample and duplicate samples/assays blanks are inserted every 20th
sample. For reverse circulation samples, assay standards, sample duplicates and
assay blanks were inserted every 40 samples. This sampling procedure was
periodically reviewed by Savary's President and CEO, Don Dudek, P. Geo. All
assay samples were collected at site by SGS Laboratory staff from Ouagadougou,
Burkina Faso. Sample preparation and fire assays were performed by SGS
Laboratories in Ouagadougou. Each sample was dried, crushed to 85% passing 2mm
and then split to 1.5 kg by riffle splitter. The 1.5 kg, 2 mm split was
pulverized to 95% passing 106mm. Fifty grams of the pulverized material was
analysed for gold via fire assay with an atomic absorption spectroscopy (AAS)
finish. SGS Burkina Faso SA operates according to ISO 17025 standards and
institutes a full Quality Assurance/Quality Control (QA/QC) program consisting
of insertion of blanks, standard reference material, repeats and reject splits
which in total account for up to 25% of all determinations conducted.
A series of seven composited assay samples will be subject to timed bottle roll
tests to determine potential gold recovery by conventional cyanide gold
recovery.
About Savary Gold
Savary Gold is a Canadian exploration company focused on exploring the Hounde
South Gold Property in Burkina Faso. The property is in the Birimian age Hounde
Greenstone Belt, which hosts Semafo's Mana mine and additional gold deposits
that are presently subject to extensive exploration efforts (including Endeavour
Mining's Hounde Project, Roxgold Yaramoko Project and Sarama's South Hounde
Project, which is adjacent to Savary Gold's property). For additional
information please visit our website at www.savarygold.com and follow us on
Facebook, Linked-In and Twitter: @SavaryGold.
Don Dudek, P.Geo., President and CEO of the Company and a "Qualified Person"
under National Instrument 43-101, has reviewed and approved the scientific and
technical information in this press release.
SAVARY GOLD CORP.
On behalf of the Board
Don Dudek, President & Chief Executive Officer
Cautionary Notes
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term
is defined in the policies of the TSX Venture Exchange) accepts responsibility
for the adequacy or accuracy of this release.
This news release may contain forward-looking statements. These statements
include statements regarding the details and timing of Savary's exploration
plan, the results of the recently completed drilling and sampling, the
exploration potential of Savary's properties and the satisfaction of work
commitments related to the option on the Hounde South property. These statements
are based on current expectations and assumptions that are subject to risks and
uncertainties. Actual results could differ materially because of factors
discussed in the management discussion and analysis section of our interim and
most recent annual financial statements or other reports and filings with the
TSX Venture Exchange and applicable Canadian securities regulations. We do not
assume any obligation to update any forward-looking statements, except as
required by applicable laws.
2014 Hounde South Project Assay Composite Table
----------------------------------------------------------------------------
FROM TO LENGTH g/t
ZONE HOLE (m) (m) (m)(i) Au
----------------------------------------------------------------------------
Karangosso HS-DH-14-01 32.50 52.60 21.30 3.12
----------------------------------------------------------------------------
Karangosso HS-DH-10-1B 24.00 51.00 27.00 2.90
----------------------------------------------------------------------------
Karangosso HS-DH-10-1B 111.35 132.00 20.15 0.79
----------------------------------------------------------------------------
Karangosso HS-DH-14-02 180.55 181.00 0.45 0.60
----------------------------------------------------------------------------
Karangosso HS-DH-14-02 203.00 208.00 5.60 2.92
----------------------------------------------------------------------------
Karangosso HS-DH-14-02 217.10 218.10 1.00 0.90
----------------------------------------------------------------------------
Karangosso HS-DH-14-02 222.10 229.30 7.20 0.55
----------------------------------------------------------------------------
Karangosso HS-DH-14-03 106.00 106.70 0.70 0.92
----------------------------------------------------------------------------
Karangosso HS-DH-14-04 179.20 205.30 26.10 0.77
----------------------------------------------------------------------------
Karangosso incl. 179.20 186.05 6.85 1.23
----------------------------------------------------------------------------
Karangosso incl. 199.50 204.40 4.90 1.62
----------------------------------------------------------------------------
Karangosso HS-DH-14-04 231.95 236.15 4.20 0.86
----------------------------------------------------------------------------
Karangosso HS-DH-14-04 243.20 249.50 6.30 1.53
----------------------------------------------------------------------------
Karangosso HS-DH-14-05 9.60 11.30 1.50 1.22
----------------------------------------------------------------------------
Karangosso HS-DH-14-05 134.00 135.00 1.00 2.74
----------------------------------------------------------------------------
Karangosso HS-DH-14-05 174.60 175.30 0.70 0.54
----------------------------------------------------------------------------
Kien HS-DH-14-06 69.00 84.00 15.00 1.51
----------------------------------------------------------------------------
Kien HS-DH-14-06 63.75 71.00 7.25 0.62
----------------------------------------------------------------------------
Kien incl. 69.00 71.00 2.00 1.60
----------------------------------------------------------------------------
Kien HS-DH-14-06 80.00 84.00 4.00 3.30
----------------------------------------------------------------------------
Kien HS-DH-14-06 91.00 92.00 1.00 1.59
----------------------------------------------------------------------------
Kien HS-DH-14-06 113.20 115.10 1.90 0.82
----------------------------------------------------------------------------
Kien HS-DH-14-06 194.70 201.70 7.00 0.67
----------------------------------------------------------------------------
Kien HS-DH-14-07 1.80 17.50 15.70 1.52
----------------------------------------------------------------------------
Kien HS-DH-14-07 100.00 125.55 25.55 0.91
----------------------------------------------------------------------------
Kien incl. 100.00 103.00 3.00 2.34
----------------------------------------------------------------------------
Kien incl. 122.00 125.55 3.55 1.71
----------------------------------------------------------------------------
Kien HS-DH-14-07 141.15 144.00 2.85 2.14
----------------------------------------------------------------------------
Kien HS-DH-14-07 156.60 161.70 5.10 1.35
----------------------------------------------------------------------------
Kien HS-DH-14-08 101.00 105.00 4.00 3.77
----------------------------------------------------------------------------
Kien HS-DH-14-08 176.38 178.05 1.67 0.90
----------------------------------------------------------------------------
Kien HS-DH-14-09 20.00 22.25 2.25 1.06
----------------------------------------------------------------------------
Kien HS-DH-14-09 145.70 156.30 10.60 1.54
----------------------------------------------------------------------------
Kien HS-DH-14-09 188.40 190.40 2.00 0.96
----------------------------------------------------------------------------
Kien HS-DH-14-10 48.50 48.90 0.35 2.33
----------------------------------------------------------------------------
Kien HS-DH-14-10 68.87 70.10 1.15 0.78
----------------------------------------------------------------------------
Kien HS-DH-14-10 192.22 194.70 2.48 1.32
----------------------------------------------------------------------------
Kien HS-DH-14-10 198.35 199.15 0.75 5.15
----------------------------------------------------------------------------
Kien HS-DH-14-11 16.50 18.00 1.10 0.97
----------------------------------------------------------------------------
Kien HS-DH-14-11 51.78 54.50 2.72 2.67
----------------------------------------------------------------------------
Kien HS-DH-14-11 85.40 104.89 19.49 0.87
----------------------------------------------------------------------------
Kien incl. 99.80 104.89 5.09 1.70
----------------------------------------------------------------------------
Kien HS-DH-14-11 199.23 206.00 6.77 0.41
----------------------------------------------------------------------------
Kien HS-DH-14-12 34.00 34.92 0.92 0.51
----------------------------------------------------------------------------
Kien HS-DH-14-12 190.90 194.70 3.80 8.90(ii)
----------------------------------------------------------------------------
Karangosso HS-RC-14-05 61.00 62.00 1.00 0.98
----------------------------------------------------------------------------
Karangosso HS-RC-14-07 5.00 20.00 15.00 0.20
----------------------------------------------------------------------------
Karangosso HS-RC-14-07 29.00 44.00 15.00 0.47
----------------------------------------------------------------------------
Karangosso HS-RC-14-07 51.00 100.00 49.00 0.35
----------------------------------------------------------------------------
Karangosso HS-RC-14-10 27.00 30.00 3.00 2.06
----------------------------------------------------------------------------
Karangosso HS-RC-14-10 72.00 75.00 3.00 3.65
----------------------------------------------------------------------------
Karangosso HS-RC-14-10 77.00 87.00 10.00 0.24
----------------------------------------------------------------------------
Karangosso HS-RC-14-11 12.00 17.00 5.00 0.45
----------------------------------------------------------------------------
Karangosso HS-RC-14-11 76.00 77.00 1.00 0.90
----------------------------------------------------------------------------
Karangosso HS-RC-14-11 111.00 112.00 1.00 0.96
----------------------------------------------------------------------------
Kueredougou HS-RC-14-13 23.00 24.00 1.00 2.49
----------------------------------------------------------------------------
Kueredougou HS-RC-14-15 31.00 34.00 3.00 2.24
----------------------------------------------------------------------------
Kueredougou HS-RC-14-15 39.00 40.00 1.00 1.27
----------------------------------------------------------------------------
Kueredougou HS-RC-14-15 70.00 71.00 1.00 0.70
----------------------------------------------------------------------------
Kueredougou HS-RC-14-15 82.00 83.00 1.00 0.52
----------------------------------------------------------------------------
Kueredougou HS-RC-14-15 95.00 98.00 3.00 7.26
----------------------------------------------------------------------------
Kueredougou HS-RC-14-15 106.00 107.00 1.00 0.50
----------------------------------------------------------------------------
Kien HS-RC-14-17 56.00 57.00 1.00 0.61
----------------------------------------------------------------------------
Kien HS-RC-14-17 66.00 70.00 4.00 0.74
----------------------------------------------------------------------------
Kien HS-RC-14-17 83.00 88.00 5.00 0.64
----------------------------------------------------------------------------
Kien HS-RC-14-18 2.00 5.00 3.00 1.10
----------------------------------------------------------------------------
Kien HS-RC-14-18 40.00 41.00 1.00 0.51
----------------------------------------------------------------------------
Kien HS-RC-14-18 84.00 85.00 1.00 1.21
----------------------------------------------------------------------------
Kien HS-RC-14-19 10.00 11.00 1.00 0.83
----------------------------------------------------------------------------
Kien HS-RC-14-19 47.00 48.00 1.00 0.55
----------------------------------------------------------------------------
Kien HS-RC-14-20 3.00 4.00 1.00 2.29
----------------------------------------------------------------------------
Kien HS-RC-14-21 38.00 39.00 1.00 0.91
----------------------------------------------------------------------------
Kien HS-RC-14-22 71.00 72.00 1.00 1.13
----------------------------------------------------------------------------
Kien HS-RC-14-23 86.00 87.00 1.00 0.88
----------------------------------------------------------------------------
Kien HS-RC-14-23 101.00 102.00 1.00 0.71
----------------------------------------------------------------------------
Kien HS-RC-14-23 109.00 110.00 1.00 1.49
----------------------------------------------------------------------------
Kien HS-RC-14-24 58.00 59.00 1.00 0.60
----------------------------------------------------------------------------
Kien West HS-RC-14-26 49.00 50.00 1.00 1.97
----------------------------------------------------------------------------
Kien HS-RC-14-27 11.00 12.00 1.00 2.18
----------------------------------------------------------------------------
Kien HS-RC-14-27 57.00 64.00 7.00 2.34
----------------------------------------------------------------------------
Kien HS-RC-14-27 73.00 84.00 11.00 1.06
----------------------------------------------------------------------------
Kien HS-RC-14-28 16.00 20.00 4.00 0.82
----------------------------------------------------------------------------
Kien HS-RC-14-28 27.00 34.00 7.00 0.80
----------------------------------------------------------------------------
Kien HS-RC-14-28 26.00 54.00 28.00 0.89
----------------------------------------------------------------------------
Kien incl. 45.00 51.00 6.00 2.53
----------------------------------------------------------------------------
Kien HS-RC-14-28 65.00 66.00 1.00 0.53
----------------------------------------------------------------------------
Kien HS-RC-14-29 21.00 24.00 3.00 1.81
----------------------------------------------------------------------------
Kien HS-RC-14-29 104.00 107.00 3.00 1.56
----------------------------------------------------------------------------
Kien HS-RC-14-29 104.00 134.00 30.00 0.89
----------------------------------------------------------------------------
Kien incl. 121.00 127.00 6.00 2.65
----------------------------------------------------------------------------
Kien HS-RC-14-30 79.00 80.00 1.00 0.80
----------------------------------------------------------------------------
Kien HS-RC-14-31 33.00 46.00 13.00 1.35
----------------------------------------------------------------------------
Kien incl. 33.00 38.00 5.00 2.74
----------------------------------------------------------------------------
Kien HS-RC-14-32 2.00 17.00 15.00 1.36
----------------------------------------------------------------------------
Kien incl. 2.00 11.00 9.00 1.90
----------------------------------------------------------------------------
Kien HS-RC-14-32 94.00 103.00 9.00 1.87
----------------------------------------------------------------------------
A 0.5 g/t cut-off has been applied
(i) true widths are not estimated at this time due to insufficient
information, however, a reasonable guide is that true width is
approximately 70% of the drilled length.
(ii) when capped at 30 g/t gold, interval grades 6.14 g/t Au
FOR FURTHER INFORMATION PLEASE CONTACT:
Savary Gold Corp.
Michael McAllister
Manager, Investor Relations
416-309-2134
info@savarygold.com
www.savarygold.com
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