TSXV:SWA - Post Discussion
Post by
RockLobster1 on May 29, 2022 9:56am
50,000 m drill program sounds huge...
ACCESSWIRE
PERTH, AUSTRALIA and VANCOUVER, BC / ACCESSWIRE / May 12, 2022 / Sarama Resources Ltd. ("Sarama" or the "Company") (ASX:SRR, TSX-V:SWA) is pleased to announce that it has commenced a +50,000m drill program at its 100%-owned(4), multi-million ounce Sanutura Project (the "Project"). This follows a successful listing on the Australian Securities Exchange ("ASX") and a strongly supported A$8M public offering.
The drill program will focus on near-surface, extensional targets designed to grow the oxide component of the already large Mineral Resource of 0.6Moz Au (Indicated) plus2.3Moz Au (Inferred)(1) as well as regional greenfields targets.
Highlights
- Sarama commences drilling at its 100%-owned Sanutura Project - the first material drilling program in 5 years
- +50,000m drill program targets an increase to the Mineral Resource from highly accretive, predominantly shallow, oxide targets at the Tankoro Deposit as well as regional greenfield targets
- Approximately 220 individual targets within 28 prospect areas will be tested by AC and RC drilling during the program
- Mineral Resource update anticipated in 2023, incorporating extensional and regional exploration drilling
Sarama's President, CEO & MD, Andrew Dinning commented:
"Sarama is delighted to have commenced drilling at the Sanutura Project following its recent successful A$8M equity raising and ASX listing. The +50,000m drill program is the first exploration program to be conducted on the Project after a significant hiatus and we look forward to drilling a suite of targets that offer an immediate opportunity to increase the early-stage value of any development scenario contemplated.
The program has been structured to increase the oxide component of the already large Mineral Resource by targeting near-surface material in extensions to the currently modelled Tankoro Deposit as well as testing a number of regional targets. We look forward to providing updates as the program continue and assay results come to hand."
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