Sarama Resources Ltd V.SWA

50,000 m drill program sounds huge...

[RockLobster1]

Sarama Resources Commences +50,000m Drill Program at Sanutura Project

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."