Savary
Savary Outlines Exploration Plan for South Hounde, Burkina Faso
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 1, 2012) - SAVARY GOLD CORP. ("Savary" or the "Company") (TSX VENTURE:SCA) is pleased to announce the details of its proposed $1.4 million exploration program for its Houndé South property, located in southwestern Burkina Faso. The exploration program will include up to 3,000 metres of reverse circulation (RC) drilling, as well as geologic mapping of the property.
"We are excited to begin our exploration program at Houndé South," stated Charles Mostert, Savary Gold's President and CEO. "The coincident geophysical and geochemical anomalies, along with the encouraging results from the very limited early drilling, are strong indications of the property's potential. This, coupled with the property's location within the Houndé greenstone belt, which hosts Semafo's Mana gold mine as well as a number of other advanced gold exploration projects, is what led us to pursue this acquisition and we are looking forward to advancing this project as quickly as possible."
Coincident Induced Polarization (IP) geophysical and soil geochemistry anomalies, as well as historical drilling data and local prospector workings have identified two primary targets along the Ouango-Fini Shear Zone: the Kueredougou Zone and the Diosso South Zone. Proposed exploration activities for the Kueredougou Zone include approximately 2,000 metres of RC drilling, with 15 to 20 drill holes ranging in depth from 100 to 150 metres. A total of approximately 1,000 metres of RC drilling is planned for the Diosso South Zone, which will include 10 holes, each drilled to a depth of up to 100 metres. These 3,000 metres of drilling will be aimed at building a robust geologic model, as well as acquiring sufficient data to complete an inferred mineral resource estimate.
The Houndé South property consists of two exploration licences, Diosso and Mandiasso, totaling 375 square kilometres and two exploration licence applications, Kelesso and Fakoro, totaling 125 square kilometres.
Robin Black, M.Sc., P. Geo., a consulting geologist of the Company and a Qualified Person as defined by National Instrument 43-101, has reviewed and approved the technical information contained in this news release.
About Savary Gold
Savary Gold is a Canadian company with a tight capital structure that is focussed on exploring the South Houndé Gold Property in Burkina Faso. The property is in the Birimian Greenstone Belt, which hosts a number of operating gold mines (including Semafo's Mana mine) and additional gold deposits that are presently subject to extensive exploration efforts (including Avion's North Houndé Project and Sarama's South Houndé Project, which is adjacent to Savary Gold's property).
SAVARY GOLD CORP.
On behalf of the Board
Charles Mostert, Chief Executive Officer