Sarama Resources Completes 35,000m RC and 11,000m Diamond Drill Programs at its South Hounde Project in Burkina Faso
July 03 2012 - 3:03AM
PR Newswire (Canada)
TSX-V Ticker: SWA SWA.WT PERTH, Western Australia, July 4, 2012
/CNW/ - Sarama Resources Limited ("Sarama" or the "Company") is
pleased to report that it has concluded its planned, and
significantly expanded, drill programs in Burkina Faso, West
Africa. The bulk of the drilling was undertaken in the first half
of 2012 and was focussed on the Company's South Houndé Project in
the south-west of Burkina Faso where it holds exploration rights to
approximately 1,600km² of prospective ground on the Houndé and
Boromo greenstone belts. Sarama commenced an 11,000m
reverse-circulation ("RC") drill program on the Tankoro permit in
January 2012, which was expanded to 24,000m following excellent
results returned early in the program. The additional
drilling focused on infill and extensional targets at the MM
Prospect, as well as scout drilling in other areas within the
Tankoro Structural Corridor. A further 11,000m of RC scout
drilling was undertaken on other permits within the South Houndé
Project that contain kilometre-scale gold-in-soil anomalies.
Following the success of the RC drill program, a diamond drill rig
was mobilised in February 2012 for an initial 2,800m program at the
MM Prospect. The scope of this program was increased to
11,000m following the return of excellent initial results. In
addition, a 14,000m rotary-air-blast ("RAB") drill program was
completed across numerous gold-in-soil anomalies within a 5km
radius of the MM Prospect. Sarama's President and CEO, Andrew
Dinning commented: "We are very pleased to have accomplished such a
large volume of work this season with our Burkina Faso team.
In addition to the drilling activity, we have completed extensive
soil geochemistry surveys across our portfolio of exploration
properties in Burkina Faso and have numerous anomalies that require
further investigation as a result. We look forward to
receiving the remaining drill assays in the coming months in order
to plan our next round of exploration activities at the South
Houndé Project." Although the Company is using four independently
operated assay laboratories in West Africa to process the samples,
there is a backlog of approximately 3,000 diamond drill core
samples, 6,000 RC samples and 5,000 RAB samples are yet to be
assayed, which is an industry-wide issue. Sarama has been able to
manage its operations around this persistent backlog, and will
continue to carefully monitor the throughput of these
laboratories. The backlog is expected to reduce steadily over
the coming months and the Company will provide updates as and when
results come to hand. For further information on the Company's
activities, please contact: Andrew Dinning or Paul Schmiede
email: info@saramaresources.com telephone: +61 8
9363 7600 web: www.saramaresources.com Neither TSX
Venture Exchange nor its Regulation Services Provider (as that term
is defined in policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release. About
Sarama Resources Ltd Sarama Resources Ltd is a Canadian company
with a focus on the exploration and development of gold deposits in
West Africa. The board of directors and management team, a
majority of whom are founders of the Company, are seasoned resource
industry professionals with extensive experience in the exploration
and development of world-class gold projects in Africa. The South
Houndé Project in south-west Burkina Faso is the Company's flagship
property and is currently the focus of a drilling program to
further test gold-in-soil anomalies located in a 20km structural
corridor. The Company has built substantial early stage
exploration landholdings in prospective and underexplored areas of
Burkina Faso (2,700 km²), Liberia (2,400 km²) and Mali (1,200 km²)
and is aggressively exploring across the property portfolio.
Caution Regarding Forward Looking Statements Information in this
news release that is not a statement of historical fact constitutes
forward-looking information. Such forward-looking information
includes statements regarding the Company's planned exploration
programs, including when results may be available. Actual
results, performance or achievements of the Company may vary from
the results suggested by such forward-looking statements due to
known and unknown risks, uncertainties and other factors. Such
factors include, among others, that the business of exploration for
gold and other precious minerals involves a high degree of risk and
is highly speculative in nature; few properties that are explored
are ultimately developed into producing mines; geological factors;
the actual results of current and future exploration; changes in
project parameters as plans continue to be evaluated, as well as
those factors disclosed in the Company's publicly filed documents.
There can be no assurance that any mineralisation that is
discovered will be proven to be economic, or that future required
regulatory licensing or approvals will be obtained. However, the
Company believes that the assumptions and expectations reflected in
the forward-looking information are reasonable. Assumptions have
been made regarding, among other things, the Company's ability to
carry on its exploration activities, the sufficiency of funding,
the timely receipt of required approvals, the price of gold and
other precious metals, that the Company's operations will not be
affected by any adverse political events, the ability of the
Company to operate in a safe, efficient and effective manner and
the ability of the Company to obtain further financing as and when
required and on reasonable terms. Readers should not place undue
reliance on forward-looking information. Sarama does not undertake
to update any forward-looking information, except as required by
applicable laws. Sarama Resources Limited
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