VANCOUVER, Jan. 13, 2014 /CNW/ - Sarama Resources Ltd. ("Sarama" or the "Company") is pleased to announce that reconnaissance soil geochemistry surveys
at its Cape Mount East exploration property in Liberia have
successfully extended the anomalous gold-in-soil zone previously
encountered at the Cape Mount exploration property to a total 15km
along trend. Follow-up trenching programs on the Cape Mount property,
approximately 10km north of Aureus Mining Inc's New Liberty Gold
Project, have returned several intervals of significant mineralisation,
confirming the presence of in-situ gold mineralisation and reinforcing
previously reported soil geochemistry results.
Wide-spaced soil geochemistry survey on Sarama's Cape Mount East
exploration property has extended the existing 9km-long anomalous
gold-in-soil zone delineated on the Cape Mount exploration property
(Sarama 80% interest, earning to 90%) by another 6km, bringing the
total length of the trend to approximately 15km.
Trenching across the 9km-long anomalous gold-in-soil zone on the Cape
Mount exploration property returned numerous wide, low-grade intervals
with narrower higher-grade internal sections including:
16m @ 1.74g/t Au, including 10m @ 2.55 g/t Au in CMTR037
42m @ 0.63g/t Au, including 10m @ 1.44g/t Au in CMTR025
47m @ 0.54g/t Au, including 4m @ 1.14 g/t Au in CMTR024
17m @ 0.63g/t Au, including 6m @ 1.13 g/t Au in CMTR026
6m @ 2.30g/t Au in CMPT003 (trench ended in mineralisation)
Trenching program confirms the presence of gold within oxidised in-situ
bedrock along the full 9km-long anomalous gold-in-soil zone on the Cape
Mount exploration property, highlighting the exploration potential.
Reconnaissance drill program planned for several target areas on Cape
Mount exploration property.
Anomalous gold-in-soil trend is situated approximately 10km north of
Aureus Mining Inc's New Liberty Gold Project which is currently being
Trenching at Sarama's Gbarpolu exploration property returned high grade
7m @ 13.11g/t Au, including 1m @ 58.7g/t Au and 1m @ 30.4g/t Au in
4m @ 4.63g/t Au in BPPT2 (trench ended in mineralisation)
Cape Mount Project Exploration
Sarama's exploration efforts in Liberia have largely focused on the
western part of the country at the Cape Mount Project (the "Project"), comprised of the Cape Mount (Sarama 80% interest, earning to 90%),
Cape Mount East and Cape Mount West (both Sarama 100% interest)
exploration properties (refer Figures 1 and 2).
The Project is immediately adjacent to Aureus Mining Inc's ("Aureus") New Liberty Gold Project, which is currently under mine development
on a mineral resource base of 1.1 Moz measured and indicated and 1.2
Moz inferred (refer Aureus news releases, July 4 & November 11, 2013).
Figure 1 - Sarama's Exploration Properties in Liberia
Trenching Identifies In-situ Gold Mineralisation at Cape Mount
The Company had previously identified a 9km-long, anomalous gold-in-soil
zone in the southern portion of the Cape Mount exploration property,
co-incident with active artisanal gold mining sites and several
geologically prospective features identified by an airborne geophysical
survey conducted by the Company in 2012.
To further investigate the potential for in-situ gold mineralisation,
the Company undertook a program consisting of 37 trenches excavated to
a depth of 2-3m in north-south orientations along the length of the
anomalous zone. The walls of the trenches were sampled at uniform 1m
intervals over their length. Results indicate the presence of wide,
low-grade zones of gold mineralisation, often with narrower high-grade
intervals internally, along the full length of the 9km-long soil
The western area of Liberia is characterized by deeply weathered and
oxidized Archean-age rocks with variable topographic relief. Rainfall
is considerable and has led to the disaggregation of the upper part of
the regolith profile and in this environment, it is probable that
near-surface geochemical and physical dispersion of in-situ gold has
occurred at the level of trench sampling (2-3m depth). The Company
believes that this has led to the development of wide and relatively
low-grade zones of gold mineralization that has typically been
encountered in the trenching program. The presence of high-grade
sections within the lower grade halos is greatly encouraging.
The trenching program's confirmation of gold within in-situ oxidized
bedrock over the full 9km strike length of the anomalous gold-in-soil
zone augers well for future exploration activities that will include
drill testing of selected targets.
The eastern part of the trenching program (refer Figure 2) returned the
best results with highlights of:
16m @ 1.74g/t Au, including 10m @ 2.55g/t Au in CMTR037; and
11m @ 0.74g/t Au, including 5m @ 1.06g/t Au in CMTR035.
The central part of the program (refer Figure 3) returned very broad
intervals of mineralisation including:
72m @ 0.23g/t Au, including 11m @ 0.46g/t Au in CMTR031;
24m @ 0.41g/t Au, including 6m @ 0.89g/t Au in CMTR004;
47m @ 0.54g/t Au, including 4m @ 1.14g/t Au in CMTR024;
17m @ 0.63g/t Au, including 6m @ 1.13g/t Au in CMTR026; and
31m @ 0.45g/t Au, including 18m @ 0.51g/t Au in CMTR011.
In addition, sampling across a wall within a small-scale mining
excavation at approximately 4m into the regolith returned 6m @ 2.30g/t Au in CMPT003 (trench ended in mineralisation).
The western part of the program returned:
15m @ 0.38g/t Au, including 6m @ 0.52g/t Au in CMTR029;
7m @ 0.69g/t Au in CMTR006;
71m @ 0.40g/t Au in CMTR007; and
42m @ 0.63g/t Au, including 10m @ 1.44g/t Au in CMTR025.
Figure 2 - Cape Mount Trenching - Eastern Area
Figure 3 - Cape Mount Trenching - Central Area
Extension of Anomalous Gold-in-Soil Trend to 15km
The Cape Mount East exploration property contains the northern and
southern limbs of an interpreted regional-scale fold defined by the
trace of the east-west trending Bea Mountain iron formation. Results
of a wide-spaced soil geochemistry survey completed on the northern
limb have confirmed the eastward extension of the 9km-long gold-in-soil
anomaly present on the Cape Mount property for another 6km, bringing
the strike length of the trend hosting the anomalous zones over the two
properties to 15km (refer Figure 4).
The Company plans to conduct infill soil geochemistry surveys in this
area as well as expanding the coverage of the reconnaissance
geochemistry program to include the southern interpreted limb structure
of the formation.
Figure 4 - 15km Anomalous Gold-in-Soil Trend at Cape Mount Project Area
Gbarpolu Project Exploration
The Company had previously identified parallel 11km-long and 3.5km long
anomalous gold-in-soil zones in the southern portion of the Gbarpolu
exploration property, co-incident with active artisanal gold mining
sites and several geologically prospective features identified by an
airborne geophysical survey conducted by the Company in 2012.
A trenching program consisting of 14 excavations in north-south
orientations along the length of the anomalous zone was commenced in
Q2/Q3 2013. The walls of the trenches were sampled at uniform 1m
intervals over their length at a depth of approximately 2-3m below
Results indicate the presence of high-grade zones of gold mineralization
situated on the 3.5km-long southern anomalous zone as well as a broad
low-grade zone in the northern 11km-long anomalous zone.
The weathering environment is similar to that at the Cape Mount Project,
with high rainfall influencing the upper part of the regolith profile,
leading to varying levels of in-situ gold dispersion. It is
encouraging to note the presence of the very high grade intersection in
BPTR003 of 7m @ 13.11g/t Au which is supported by the nearby intersection of 4m @ 4.63g/t Au in BPPT2.
Figure 5 - Gbarpolu Trenching
Sarama's President and CEO, Andrew Dinning, commented:
"The extension of the anomalous gold-in-soil trend to 15km in length is
highly encouraging, especially considering the confirmation of the
presence of in-situ gold mineralisation by the trenching program on the
central Cape Mount property and the proximity to Aureus' high quality
New Liberty Gold Project. We look forward to conducting further
exploration on this promising project, including testing of drill
targets generated from our work to date.
We are also encouraged by the intersection of very high grades in the
Gbarpolu property's trenching program which we will investigate further
with additional trenching."
For further information on the Company's activities, please contact:
Andrew Dinning or Paul Schmiede
t: +61 (0) 8 9363 7600
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
About Sarama Resources Ltd
Sarama Resources Ltd (TSX-V: SWA) is a West African focused gold
explorer with substantial landholdings in Burkina Faso, Liberia and
Sarama's flagship properties are situated within the Company's South
Houndé Project area in south-west Burkina Faso. Located within the
prolific Houndé greenstone belt, exploration programs have built on
significant early success to deliver a maiden Inferred Mineral Resource
estimate of 1.5 Moz gold1. Outside of Burkina Faso, Sarama is focused on consolidating a number
of under-explored landholdings in other emerging and established mining
Incorporated in 2010, the Company's Board and management team have a
proven track record in Africa and a strong history in the discovery and
development of large-scale gold deposits. Sarama is well positioned to
build on its current success with a strong financial position and a
sound exploration strategy across its property portfolio.
29.13 Mt @ 1.6 g/t Au (at a 0.8 g/t Au cut-off)
Caution Regarding Forward Looking Statements
Information in this news release that is not a statement of historical
fact constitutes forward-looking information. Such forward-looking
information includes statements regarding the Company's future
exploration exploration at its Cape Mount, Cape Mount East and Gbarpolu
properties and the maiden Mineral Resource estimate for its flagship
South Houndé Project. Actual results, performance or achievements of
the Company may vary from the results suggested by such forward-looking
statements due to known and unknown risks, uncertainties and other
factors. Such factors include, among others, that the business of
exploration for gold and other precious minerals involves a high degree
of risk and is highly speculative in nature; Mineral Resources are not
Mineral Reserves, they do not have demonstrated economic viability, and
there is no certainty that they can be upgraded to Mineral Reserves
through continued exploration; few properties that are explored are
ultimately developed into producing mines; geological factors; the
actual results of current and future exploration; changes in project
parameters as plans continue to be evaluated, as well as those factors
disclosed in the Company's publicly filed documents.
There can be no assurance that any mineralisation that is discovered
will be proven to be economic, or that future required regulatory
licensing or approvals will be obtained. However, the Company believes
that the assumptions and expectations reflected in the forward-looking
information are reasonable. Assumptions have been made regarding, among
other things, the Company's ability to carry on its exploration
activities, the sufficiency of funding, the timely receipt of required
approvals, the price of gold and other precious metals, that the
Company will not be affected by adverse political events, the ability
of the Company to operate in a safe, efficient and effective manner and
the ability of the Company to obtain further financing as and when
required and on reasonable terms. Readers should not place undue
reliance on forward-looking information.
Sarama does not undertake to update any forward-looking information,
except as required by applicable laws.
Notes - Soil Geochemistry
Soil geochemistry results are reported as processed data for a
population of raw assay results. The effects of mechanical and
chemical concentration, weathering, and the topographical and
vegetative settings have not been presented and therefore results
reflect a first-pass exploration phase. No top-cuts were applied to
Sarama undertakes geological sampling and assaying in accordance with
its QA/QC program which includes the use of certified standard
reference materials, uncertified blank reference materials and field
duplicates. Gold assay work was undertaken by the SGS S.A.
laboratories in Monrovia, Liberia and Tarkwa, Ghana. Assays are
determined by aqua regia digest of a 50g charge, followed by solvent
extraction and an AAS finish with a 2ppb Au lower detection limit.
Soil samples were collected from holes with a nominal diameter of 200mm
which were manually excavated to a depth of approximately 400-500mm.
Holes were spaced on a regular grid measuring 1.6km (east-west) x 50m
north-south). Field samples of 2-3kg were collected from each hole,
after which a sub-sample was produced by sieving for assaying.
The gold-in-soil anomaly represented for the Cape Mount property was
delineated using the 95th percentile of the samples' Au grade population (Au >37ppb).
Trenching results are quoted as lineal intervals. Given the early stage
of the exploration programs, the nature of the mineralisation is not
well understood and as a consequence, true mineralisation width is not
able to be determined.
The reported composites for trenching were determined using a cut-off
grade of 0.20g/t Au to select significant and anomalous intersections,
with a maximum of 4m internal dilution being incorporated into the
composite where appropriate. No top-cuts were applied to assay
grades. Isolated mineralised intervals less than 2m in length have not
Sarama undertakes geological sampling and assays in accordance with its
quality assurance/quality control program which includes the use of
certified and uncertified reference materials and field duplicates for
Gold assays for the trenching were undertaken by the SGS S.A. laboratory
in Monrovia, Liberia. Assays are determined by fire assay methods
using a 50 gram charge, lead collection and an AAS finish with a
0.01g/t Au lower detection limit.
The trenches were generally designed on a north-south orientation and
were excavated to follow the topography of the area. The trenches were
approximately 2-3m deep and were wall sampled on uniform 1m intervals,
approximately 750mm from the floor of the trench. Individual samples
weighted approximately 3kg and were collected by hand.
Qualified Person's Statement
Scientific or technical information in this news release that relates to
the preparation of the Company's Mineral Resource estimate is based on
information compiled or approved by Adrian Shepherd. Adrian Shepherd
is an employee of Cube Consulting Pty Ltd and is considered to be
independent of Sarama Resources Ltd. Adrian Shepherd is a chartered
professional member in good standing of the Australasian Institute of
Mining and Metallurgy and has sufficient experience which is relevant
to the commodity, style of mineralisation under consideration and
activity which he is undertaking to qualify as a Qualified Person under
National Instrument 43-101. Adrian Shepherd consents to the inclusion
in this news release of the information, in the form and context in
which it appears.
Scientific or technical information in this news release that relates to
the Company's exploration activities in Liberia is based on information
compiled or approved by John Mpambije. John Mpambije is an employee of
Sarama Resources Ltd and is a Chartered Professional member in good
standing of the Australasian Institute of Mining and Metallurgy and has
sufficient experience which is relevant to the commodity, style of
mineralisation under consideration and activity which he is undertaking
to qualify as a Qualified Person under National Instrument 43-101.
John Mpambije consents to the inclusion in this news release of the
information, in the form and context in which it appears.
Appendix A - Trench Results Listing
SOURCE: Sarama Resources Limited