Toronto, Canada – August 21, 2014 – Savary Gold Corp. (TSX-V: SCA) (“Savary”) reports the results of the preliminary metallurgical testing completed on seven samples from three of the four mineralized zones on Savary’s Houndé South property (see Figure 1 for general location) in southwestern Burkina Faso. The property, which is accessible by paved highway, is located approximately 300 kilometres southwest of the Capital Ouagadougou, and 60 kilometres east of Bobo Dioulasso, the second largest city in Burkina Faso. Both rail and grid power come within approximately 65 kilometres of the Houndé South property.
A summary of significant cyanide bottle roll results, at 72 hours retention time, are as follows:
Don Dudek, Savary’s President and CEO commented: ”It was great to see confirmation of the non-refractory nature of the fresh rock gold mineralization in these preliminary metallurgical tests. This work further de-risks the project and when combined with the robust nature of these gold systems, I believe we will have a lot of good news to look forward to. ”
Each of the seven mineralized, fresh rock assay pulp samples (ground to 95% passing 106 micron) were first re-assayed and then subjected to timed bottle roll gold recovery, with a cyanide-rich fluid and tested for gold content after 12, 24, 36, 48 and 72 hours. Each of the samples was mixed with 2,000 millilitres of cyanide-bearing fluid with 40 millilitres of fluid (2%) drawn off at the various time intervals for testing of gold content. While this form of testing does not provide definitive gold recovery numbers, it does provide a good indication of the gold recovery through conventional gold recovery methods. Samples which displayed recoveries greater than 100% were reduced to 100% recovery in the summary above; these high recoveries likely result from assay variability due to the nuggetty nature of the gold mineralization in these systems. Gold recovery details are presented in the table below.
|% recov after 72hrs||89.9%||100.8%||114.5%||91.6%||95.5%||86.3%||88.3%|
Joint Venture Agreement Update
Savary and Sarama are close to finalizing a Joint Venture agreement (“JV”) which follows a Heads of Agreement (“HoA”) which was signed on March 10, 2014 (see Savary news release dated March 11, 2014). This will unify the operatorship of Savary’s 500 square kilometre Houndé South property and Sarama’s 250 square kilometre Serakoro 1 property. The resultant JV company will be 65% owned by Savary and 35% owned by Sarama with Savary the operator as long as it controls a majority interest in the joint venture. The combined properties host a 50 kilometre and a 24 kilometre long, mining camp scale, envelope of gold-in-soil anomalies, which when tested, have returned numerous gold-bearing intercepts that will require follow-up (see figure 2 ).
About Savary Gold
Savary Gold is a Canadian exploration company focused on exploring the Houndé South Gold Property in Burkina Faso. The property is in the Birimian age Houndé Greenstone Belt, which hosts Semafo’s Mana mine and additional gold deposits that are presently subject to extensive exploration efforts (including Endeavour Mining’s Houndé Project, Roxgold Yaramoko Project and Sarama’s South Houndé Project, which is adjacent to Savary Gold’s property). For additional information please visit our website at www.savarygold.com and follow us on Facebook, Linked-In and Twitter: @SavaryGold.
Don Dudek, P.Geo., President and CEO of Savary and a qualified person under National Instrument 43-101, has reviewed and approved the scientific and technical information in this press release.
SAVARY GOLD CORP.
On behalf of the Board
President & Chief Executive Officer
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain forward-looking statements. These statements include statements regarding the preliminary metallurgical testing and sampling; the finalization of the joint venture all and the receipt of all necessary approvals. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statements or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not assume any obligation to update any forward-looking statements, except as required by applicable laws.