Bullboard - Stock Discussion Forum Sarama Resources Ltd V.SWA

Alternate Symbol(s): SRMMF

Metals & Mining Gold

Sarama Resources Ltd. is an Australia-based gold explorer and developer. The Company is focused on establishing a new mining district in Burkina Faso. The Company’s Sanutura Project is located approximately 350 kilometers (km) southwest of Ouagadougou. The Project covers approximately 1,454 square kilometers (km2) of prospective greenstone terrane. The Company holds approximately 17.52% holding... see more

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TSXV:SWA - Post Discussion

Sarama Resources Ltd > 50,000 m drill program sounds huge...

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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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