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Savary, Sarama drill 11 m of 3.59 g/t Au at Karankasso
2018-03-19 06:41 ET - News Release
Also News Release (C-SWA) Sarama Resources Ltd
Mr. Don Dudek of Savary reports
SAVARY GOLD DRILLING RETURNS NEAR-SURFACE INTERCEPTS OF 3.59 G/T GOLD OVER 11 METRES AND 1.82 G/T GOLD OVER 13 METRES. NEW DRILL INTERCEPTS DEMONSTRATE EXTENSIONS TO BOTH THE RESOURCE ZONE AND NEW RESOURCE TARGETS
Savary Gold Corp. has released drill results from a 3,700-metre, 63-hole, air core and reverse circulation drill program that was completed in February on the Karankasso JV project in southwestern Burkina Faso, with joint venture partner Sarama Resources Ltd. Savary is the operator of the project and owns approximately 70 per cent.
This first phase drill program is part of a planned, approximate 19,000-metre auger, air core, reverse circulation and diamond drill program including approximately 8,000 metres of auger drilling. Drilling, pending permitting, is scheduled to be completed by the end of June.
A summary of select results is presented below.
Serakoro 1 west area:
- HE-RC-18-04 -- 0.87 gram per tonne gold over six metres from 16 metres;
- HE-RC-18-05 -- 1.23 g/t gold over 14 metres from 22 metres;
- HE-RC-18-08 -- 1.82 g/t gold over 13 metres from 73 metres;
- HE-RC-18-09 -- 1.54 g/t gold over nine metres from 61 metres;
- HE-RC-18-10 -- 3.59 g/t gold over 11 metres from 43 metres; including 11.37 g/t gold over three metres;
- HE-RC-18-12 -- 2.29 g/t gold over seven metres from 49 metres; including 13.84 g/t gold over one metre from 55 metres;
- HE-RC-18-12 -- 0.97 g/t gold over seven metres from 75 metres;
- HE-AC-18-12 -- 0.73 g/t gold over eight metres from one metre;
- HE-AC-18-044 -- 5.10 g/t gold over one metre from 25 metres.
Karangosso south area -- new target area from 2017:
- HE-AC-18-037 -- 4.08 g/t Au over two metres from 27 metres;
- HE-AC-18-037 -- 0.88 g/t gold over seven metres from 33 metres;
- HE-AC-18-038 -- 2.94 g/t gold over seven metres from 39 metres;
- HE-AC-18-049 -- 4.31 g/t gold over four metres from 46 metres;
- HE-AC-18-050 -- 1.91 g/t gold over four metres from 32 metres.
"Our first phase drill program was successful at expanding the gold mineralization footprint in the Karangosso south and Serakoro 1 west target areas. At Serakoro 1 west, significant gold mineralization was intersected at all four of the modelled gold-bearing structures that were tested, with two holes providing extensions to the existing resource (1) area. At Karangosso south, a new discovery in 2017, infill and extension holes have both expanded and validated, an open-ended, up-to-70-metre-wide multilens, 400-metre-long zone of gold mineralization," stated Don Dudek, president and chief executive officer of Savary. Mr. Dudek further noted, "We are in a great position, as we are fully funded for this, approximately $2-million 2018 exploration program and eagerly anticipate the next phase of drilling."
The first phase drill program focused on the southern concession block where the 2017 program indicated follow-up drilling was required. In total, 3,696 metres of drilling in 63 holes comprising 51 air core holes for 2,364 metres and 12 reverse circulation holes, totalling 1,332 metres, were completed. The goal of the program included following up on drill intercepts from 2017, testing new geological models, retesting some of the stronger gold-in-auger anomalies that did not return gold intercepts in 2017 and to test 50-to-100-part-per-billion gold-in-auger hole anomalies. The drilling was successful in returning the second- and third-best drill intercepts for the Serakoro 1 west zone (lens SW-A), which were drilled to test for a shallow north plunge of an intercept that returned 2.55 g/t gold over 17 metres. Drilling also resulted in two significant drill intercepts 3.59 g/t gold over 11 metres and 1.23 g/t gold over 14 metres, along lens SW-D, which will require follow-up. As well, new air core holes at the newly discovered Karangosso south zone demonstrated that the mineralization had continuity and that the mineralization likely extends to the south, proximal to a distinct geophysical anomaly. Weak drill results were returned from the CAA and Serakoro 1 main areas.
New induced polarization geophysical data were collected along the southern end of the central gold-in-soil anomaly and immediately south of the Karangosso south zone. The geophysical data clearly defined the southern extensions of the target areas, which, in both cases will be used to guide future work.
An auger survey, with a focus along laterite-covered areas along the western and central part of the project area, is in progress and expected to be completed this month. Drilling will resume once the auger results have been received and interpreted and all permitting is in place, with the drill programs expected to be completed near the end of June, 2018.
Serakoro 1 west area
The Serakoro 1 west area is a four-kilometre-long-by-up-to-1.2-kilometre-wide open-ended focus area that contains gold-in-soil values to 5,290 ppb gold. Drilling to date has identified six moderately east-dipping, felsic intrusion-hosted gold-mineralized structures and has intersected at least three more, that are currently not defined with intercepts to 6.42 g/t gold over 15 metres, 18.72 g/t gold over four metres and 2.78 g/t gold over five metres. As well, there are grab samples to 23.4 g/t gold that have not been tested and 25-to-40-metre-wide zones of strongly anomalous gold mineralization, which suggest a robust mineralization setting. In management's opinion, there is significant scope to add additional drill intercepts which could lead to the definition of additional mineral resources. More drilling is planned over the area based on recent drill results and new targets are being developed from a continuing auger survey. A summary of the currently interpreted individual gold-bearing lenses is presented below.
- Lens SW-A -- A potential 2.7-kilometre strike, current inferred (1), open-pit-constrained resource estimate of 19,300 ounces at 1.5 g/t gold along a 400-metre strike is open with RC holes 8 and 9 extending the zone, at shallow depth (less than 100 metres vertical), downdip. Gaps in trend of up to 500 metres wide, still require drill testing.
- Lenses SW-B and SW-C -- These are footwall lenses to SWA. These lenses were not modelled as part of lens SW-A estimate. They can be traced for approximately 500 metres.
- Lens SW-D -- This is a clear structure with several good grade drill intercepts including a recent hole that returned 3.59 g/t gold over 11 metres. Target area is at least two kilometres long.
- Lens SW-E -- This includes drill intercepts to 9.53 g/t gold over two metres. It can be traced with widespread drilling for approximately 800 metres.
- Lens SW-F -- This includes 100-metre-long mineralized zones with an initial intercept of 8.74 g/t gold over six metres. Continued follow-up is planned. A new RC hole returned 2.29 g/t gold over seven metres and 0.97 g/t gold over seven metres. Air core holes 50 metres north and south indicate that the mineralized system weakens but is still present. More work is planned in this area.
Karangosso south area
The Karangosso south area lies approximately 1,000 metres south the Karangosso deposit (inferred pit-constrained mineral resource (1) of 151,800 ounces grading 2.23 g/t gold).
This 2,000-metre-plus-long target area was initially highlighted by strongly anomalous gold-in-auger values and initially tested in 2017 with four air core holes which returned up to 4.83 g/t Au over five metres. Recent holes returned up to 2.94 g/t gold over seven metres. Up to six steeply east-dipping lenses of gold mineralization have been identified along the east flank of a distinct, induced polarization geophysical anomaly that, with an apparent offset to the west, can be traced for over 2,000 metres. The southernmost group of holes returned anomalous gold values and demonstrated strong silicification and local pyrite and arsenopyrite mineralization. Gold mineralization is hosted by both felsic intrusions and intermediate composition volcanic rocks. Auger results are outstanding.
The company is planning a series of RC holes to test the depth extension of the mineralization drilling. As well, gaps at the western ends of the drill fences, where there is open-ended mineralization at the ends of several holes, need to be tested.
Quality assurance/quality control comments
Savary's procedure for handling reverse circulation drill chips comprises initial riffle splitting of the rock chips from one-metre-drill-length samples into approximately 2.0-kilogram samples, as well as description and logging into a database. A duplicate 2.0-kilogram sample, prepared at the same time as the assay sample, is kept as a reference for each sample. A sample duplicate and assay blank were inserted sequentially every five to 14 samples and an assay standard was inserted every 29 to 34 samples. This results in 7 to 8 per cent of the assayed samples being Savary inserted, reference/blank/control samples. Blanks and duplicates were preferentially inserted in visually mineralized zones to better test the assay results. This sampling procedure was periodically reviewed by Savary's president and chief executive officer, and the company qualified person, Mr. Dudek, PGeo. All assay samples were collected at site by staff and delivered to BIGS laboratory in Ouagadougou, Burkina Faso, where sample preparation and analysis were performed. Each sample was dried, crushed to 75 per cent passing two millimetres and then split to 1.5 kg by rotary splitter. This split was pulverized to 85 per cent passing 75 micrometres. Fifty grams of the pulverized material were analyzed for gold via fire assay with an atomic absorption spectroscopy (AAS) finish. BIGS institutes a full quality assurance/quality control (QA/QC) program consisting of insertion of internal blanks, standard reference material, repeats and reject splits which in total account for up to 25 per cent of all determinations conducted. Most standards and blank control samples returned results within expected ranges. Those batches that returned standard values outside an approved range are being reassayed. None of the reassayed batches impacted the results presented herein
About Savary Gold Corp.
Savary is a Canadian exploration company focused on exploring and developing the Karankasso gold project in Burkina Faso. The company holds an approximate 70-per-cent joint venture ownership and is the operator of the project with Sarama Resources. The project is located within the Hounde greenstone belt, which hosts Semafo's Mana mine, Roxgold's Yaramoko mine and Endeavor's Hounde mine. The project contains an Inferred mineral resource estimate (1) of 12.3 million tonnes grading 2.03 g/t gold for 805,000 ounces.
Mr. Dudek, a qualified person under National Instrument 43-101, has reviewed and approved the scientific and technical information in this press release.
(1) Open-pit-constrained mineral resource estimate presented in Savary news release dated Nov. 2, 2017.
SUMMARY OF SIGNIFICANT INTERCEPTS FROM PHASE 1 2018 DRILL PROGRAM Hole From To Length* Au ID (m) (m) (m) (g/t) HE-AC-18-001 48 50 2 1.42 HE-AC-18-002 NSV HE-AC-18-003 NSV HE-AC-18-004 NSV HE-AC-18-005 35 36 1 0.64 HE-AC-18-006 NSV HE-AC-18-007 NSV HE-AC-18-008 NSV HE-AC-18-009 NSV HE-AC-18-010 47 48 1 0.57 HE-AC-18-010 36 37 1 0.53 HE-AC-18-011 NSV HE-AC-18-012 1 9 8 0.72 HE-AC-18-012 23 24 1 0.78 HE-AC-18-012 26 27 1 0.5 HE-AC-18-013 17 18 1 1.27 HE-AC-18-014 NSV HE-AC-18-015 5 7 2 1.07 HE-AC-18-016 NSV HE-AC-18-017 24 25 1 1.63 HE-AC-18-018 NSV HE-AC-18-019 NSV HE-AC-18-019 NSV HE-AC-18-020 NSV HE-AC-18-021 NSV HE-AC-18-022 NSV HE-AC-18-023 NSV HE-AC-18-024 NSV HE-AC-18-025 NSV HE-AC-18-026 NSV HE-AC-18-027 NSV HE-AC-18-028 18 19 1 2.29 HE-AC-18-029 10 12 2 0.53 HE-AC-18-029 26 28 2 0.91 HE-AC-18-030 NSV HE-AC-18-031 NSV HE-AC-18-032 NSV HE-AC-18-033 NSV HE-AC-18-034 NSV HE-AC-18-035 22 23 1 0.62 HE-AC-18-035 NSV HE-AC-18-036 NSV HE-AC-18-037 27 40 13 1.14 incl. 27 29 2 4.08 incl. 33 40 7 0.88 HE-AC-18-038 30 49 19 1.30 incl. 39 46 7 2.94 HE-AC-18-039 NSV HE-AC-18-040 6 7 1 4.02 HE-AC-18-041 NSV HE-AC-18-042 NSV HE-AC-18-043 20 25 5 0.51 HE-AC-18-043 29 31 2 0.81 HE-AC-18-044 25 26 1 5.1 HE-AC-18-045 33 35 2 0.79 HE-AC-18-046 34 39 5 0.54 HE-AC-18-047 NSV HE-AC-18-048 NSV HE-AC-18-049 46 50 4 4.31 HE-AC-18-049 33 36 3 0.49 HE-AC-18-049 24 26 2 0.54 HE-AC-18-50 32 36 4 1.91 HE-AC-18-50 23 26 3 0.88 HE-AC-18-51 31 33 2 1.24 HE-RC-18-01 78 82 4 1.1 HE-RC-18-01 25 26 1 1.56 HE-RC-18-02 91 93 2 1.73 HE-RC-18-03 65 66 1 0.8 HE-RC-18-04 16 22 6 0.87 HE-RC-18-05 22 36 14 1.23 HE-RC-18-05 6 7 1 0.54 HE-RC-18-06 8 9 1 0.53 HE-RC-18-07 14 18 4 0.98 HE-RC-18-07 75 76 1 2.84 HE-RC-18-08 73 86 13 1.82 incl. 73 75 2 2.79 incl. 79 86 7 2.08 HE-RC-18-08 36 37 1 0.91 HE-RC-18-08 133 134 1 0.84 HE-RC-18-08 28 29 1 0.77 HE-RC-18-08 46 47 1 0.73 HE-RC-18-09 61 70 9 1.53 HE-RC-18-09 34 35 1 1.21 HE-RC-18-09 24 25 1 0.79 HE-RC-18-10 43 54 11 3.59 incl. 43 46 3 1.32 incl. 51 54 3 11.37 HE-RC-18-10 75 76 1 0.6 HE-RC-18-11 NSV HE-RC-18-12 49 56 7 2.29 incl. 55 56 1 13.84 HE-RC-18-12 75 82 7 0.97 incl. 75 76 1 1.86 incl. 81 82 1 3.63 * True widths are estimated at 65 per cent to 90 per cent of drilled widths.
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