Drilling Identifies Multiple Gold Zones on Savary Gold's Hounde
South Concessions in the Prolific Hounde Gold Belt in Burkina Faso
New Holes Return 1.52 g/t Gold Over 15.70 Metres and 2.90 g/t
Gold Over 27.0 Metres
TORONTO, ONTARIO--(Marketwired - May 14, 2014) - 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 Houndé 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 Houndé 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 Houndé 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 Houndé South property, over the past two years to meet
the earn-in requirements for a 100% ownership in the Houndé 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 Houndé 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 Houndé South Gold Property in Burkina Faso. The
property is in the Birimian age Houndé Greenstone Belt, which hosts
Semafo's Mana mine and additional gold deposits that are presently
subject to extensive exploration efforts (including Endeavour
Mining's Houndé Project, Roxgold Yaramoko Project and Sarama's
South Houndé 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 Houndé South Project Assay Composite Table |
ZONE |
HOLE |
FROM (m) |
TO (m) |
LENGTH (m)* |
g/t 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** |
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 |
*
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. |
**
when capped at 30 g/t gold, interval grades 6.14 g/t Au |
Savary Gold Corp.Michael McAllisterManager, Investor
Relations416-309-2134info@savarygold.comwww.savarygold.com
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