Sarama Resources Intersects High-Grade Mineralisation at Depth with Diamond and RC Drilling at the MM Prospect in the South Hou
August 28 2012 - 9:00AM
PR Newswire (Canada)
TSX-V Ticker: SWA SWA.WT VANCOUVER, Aug. 28, 2012 /CNW/ -
Sarama Resources Limited ("Sarama" or the "Company") is pleased to
report that it has intersected further high-grade gold
mineralisation, including 10.2m @ 14.85 g/t Au and 13.9m @ 14.47
g/t Au, and has extended known mineralisation to a depth of 300m
during extensional and infill drilling programs at the MM Prospect
at its South Houndé Project in south-western Burkina Faso.
Highlights -- Sarama has intersected further high-grade
mineralisation with infill and extensional diamond and
reverse-circulation ("RC") drilling at the MM Prospect. -- Infill
drilling confirms continuity of major mineralised lenses within the
MM system - individual lenses interpreted to extend for 1km along
strike and at least 300m vertically. -- Mineralisation interpreted
to form stacked lenses, 3-15m in width. -- High-grade intersection
at 250m vertical depth indicates the strength and down-dip
potential of the mineralised system. -- Downhole intersection
highlights include: DDH025 10.2m @ from 109.3m incl. 0.6m 14.85g/t
@ 62.90g/t Au Au DDH045 14.0m @ from 176.5m 7.28g/t Au (EOH) DDH041
11.8m @ from 35.3m incl. 5.5m 8.06g/t Au @ 13.97g/t Au DDH021 14.0m
@ from 6.0m 3.13g/t Au DDH043** 13.9m @ from 333.2m incl. 3.1m
14.47g/t @ 59.17g/t Au Au FRC152RE1 18.0m @ from 218.5m 2.49g/t Au
FRC342 7.0m @ from 39m incl. 2m @ 5.47g/t Au 13.70g/t Au FRC344
8.0m @ from 86m incl.4m @ 2.83g/t Au 5.06g/t Au ** composite
consists of 2 mineralised bands separated by 2.3m of internal
dilution Sarama has received all assay results from recent infill
and extensional diamond drilling programs and outstanding assays
from an earlier RC drilling program at the MM Prospect which is
situated on the Tankoro exploration property at the South Houndé
Project. The RC drill program was designed to infill earlier
step-out drilling to a line spacing of approximately 100m. A
majority of the results from this program have been previously
reported (refer Sarama News Release 4 May 2012) with 21 holes
(approximately 2,200m) outstanding at the date of the May news
release. The central 600m-long portion of the 1.5km strike length
MM Prospect was the focus of the diamond drilling program,
following the results of previous RC drilling which had identified
the potential for multiple closely-spaced mineralised lenses
extending along strike and down dip. The program, comprising
58 oriented diamond holes for approximately 11,000m, was
commissioned to investigate the style, grade, widths and
orientation of mineralisation within this area. Results for 2,100m
(12 holes) of the diamond drilling program were reported previously
(refer Sarama News Release 4 May 2012). The balance of
results for the diamond and RC drilling programs are listed in
Appendices A and B respectively. A majority of the diamond holes
were drilled to a vertical depth ranging between 160-200m, however
selected holes were extended to an approximate vertical depth of
330m to test for extensions of mineralisation at depth. RC
holes were drilled to a vertical depth of approximately 80m. The MM
mineralisation is mainly hosted in an array of stacked, steeply
dipping porphyry dykes trending north-north-east (refer Figures
1-3). The 6 major mineralised porphyry units vary in width
from 3-15m and are interpreted to form the western and eastern
bounds of the known mineralised zone. These units demonstrate
a high degree of continuity, sometimes extending along strike for
over 1km and down-dip for approximately 300m. A series of
secondary mineralised porphyry units trending north-east have also
been interpreted in the central area of the system as cross-over
structures. The drilling has intersected high-grade mineralisation
at a vertical depth of approximately 250m which demonstrates
excellent potential for extensions to mineralisation past the
nominal 160m vertical depth limit of drilling. Of note are
the particularly strong grades and widths of mineralisation on the
1176800mN section (refer Figure 2). Sarama plans to re-commence
fieldwork on the property in the upcoming exploration season,
initially focusing on areas where the mineralised zones are most
likely to extend along strike and/or dip as well as near-field
areas identified by recent RAB and RC scout drilling. Sarama's
President and CEO, Andrew Dinning commented: "We are extremely
pleased with these results, particularly the deep, high-grade
intercepts seen at the MM Prospect which, when combined with
near-field RAB and RC scout drilling results previously reported,
reinforces our view that the Tankoro property has the potential to
host significant mineralisation." For further information on
the Company's activities, please contact: Andrew Dinning or Paul
Schmiede email: info@saramaresources.com
telephone: +61 8 9363 7600 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 an aggressive exploration
program to test gold-in-soil anomalies located in a 20km-long
structural corridor. Recent drilling programs at the South
Houndé Project have intersected significant mineralisation in
several prospect areas which the Company is actively following
up. The Company has built substantial early stage exploration
landholdings in prospective and underexplored areas of Burkina Faso
(3,100 km²), Liberia (2,400 km²) and Mali (1,200 km²) and is
aggressively exploring across the property portfolio. Figure
1: Cross-Section of Central Region (1177300mN) -
Looking North Figure 2: Cross-Section of Southern
Region (1176800mN) - Looking North Figure 3:
Cross-Section of Northern Region (1177700mN) - Looking North
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. 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 will not be affected by 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. Notes -Drilling
Drilling results are quoted as downhole intersections. True
mineralisation width is approximately 70-75% of intersection length
for holes drilled on east-west sections, dipping at -55° and
intersecting the NNE striking lenses. Diamond holes DDH031,
DDH032, DDH035, DDH037 and DDH038 were drilled on a nominal azimuth
of 135° and are interpreted to have very shallow intersection
angles to mineralisation, particularly the minor NE trending
lenses. The reported composites for RC and diamond drilling were
determined using a cut-off grade of 0.30g/t Au to select
significant and anomalous intersections, with a maximum of 2m
internal dilution being incorporated into the composite where
appropriate. No top-cuts were applied to assay grades.
Isolated mineralised intersections less than 2m in length have not
been reported. For RC and diamond drilling, Sarama undertakes
geological sampling and assay in accordance with its QA/QC program
which includes the use of certified reference materials and
duplicates. No duplicates were taken for the diamond drilling
program. Gold assay work for the RC and diamond drilling was
undertaken by the SGS S.A. ("SGS") laboratories in Ouagadougou,
Burkina Faso, Morila, Mali, and Kayes, Mali. Assays are determined
by fire assay methods using a 50 gram charge, lead collection and
an AAS finish with a 0.01g/t Au lower detection limit. RC drilling
was generally designed using west-east oriented holes, dipping at
-55° to the east, approximately 100m in length. Holes were
spaced approximately 40-60m apart along the drill lines. RC
drill cuttings were sampled over regular 1m composited intervals.
Diamond drilling was generally designed using west-east oriented
holes, dipping at -50° to -55° to the east, approximately 200m in
length. Holes were spaced approximately 40-60m apart along
the drill lines. Diamond core was logged and sampled
according to geological intervals. Samples submitted for
assay were half core. Qualified Person's Statement Scientific or
technical information in this news release that relates to the
Company's exploration activities in Burkina Faso is based on
information compiled or approved by Michel Mercier. Michel
Mercier is an employee of Sarama Resources Ltd and is a member in
good standing of the Ordre des Géologues du Québec and has
sufficient experience which is relevant to the commodity, style of
mineralisation under consideration and activity which he is
undertaking to qualify as a Qualified Person under National
Instrument 43-101. Michel Mercier consents to the inclusion
in this report of the information, in the form and context in which
it appears. Appendix A - Significant Diamond Drill Results Appendix
B - Significant RC Drill Results Sarama Resources Limited
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