Toronto, Canada – August 6, 2015 – Savary Gold Corp. (TSX-V: SCA) (“Savary” or the “Company”) is pleased to announce follow-up drill intercepts for the Kueredougou West Trend. The drilling defined three parallel close spaced lenses of gold mineralization to approximately 90 metres depth along a 350 metre strike. The gold-bearing lenses are still open to depth and along strike.
Highlight intercepts, for the Kueredougou West Trend, are presented below:
* Previously reported intercepts Savary Gold news release June 15, 2015
Don Dudek, Savary’s President and CEO commented: “Savary’s work over the Kueredougou West Trend has just commenced and it appears that it has the potential for the discovery of a major gold zone. We can already trace the mineralized trend for approximately nine kilometres and see evidence of a robust mineralized system with locally strong alteration in association with strongly foliated quartz porphyritic felsic intrusions. This mineralizing system also has strong geological similarities to the Serakoro Main occurrence (drill intercepts to 2.66 g/t gold over 10 metres), located approximately 25 kilometres to the south. I am looking forward to further testing this trend in our next field program. ”
Savary has completed a 14,515 metre, 115 hole drill program at its Karankasso Joint Venture Project in Burkina Faso, owned 65% by Savary and 35% by Sarama Resources Ltd. (“Sarama”).
The Karankasso Property (the “Property”) is located approximately 300 kilometres southwest of Ouagadougou, Burkina Faso’s capital city and 60 kilometres east of Bobo Dioulasso, the second largest city in Burkina Faso. The Property can be accessed by a paved highway with both rail and grid power coming within approximately 65 kilometres of the Property.
The Kueredougou West Trend was first recognized in late 2014 as a separate mineralized structure, first with the collection of gold mineralized samples from artisanal workings, and in April 2015, with RC drill intercepts to 5.21 g/t gold over 9 metres. This northerly trending gold zone can be traced for approximately nine kilometres along strike via gold-in-soil anomalies and a string of artisanal workings. Drilling of 1,059 metres in nine holes tested a 450 metre portion of this trend (see figure). This work resulted in the definition of two, steeply east dipping lenses of gold mineralization, with the western-most (KWTA), traced for approximately 150 metres along strike, and possibly open to the north. The eastern-most lens (KWTB) has been traced for approximately 350 metres and is open to the south. A third, narrower, but higher grade lens of gold mineralization (KWTC) was intersected in two holes, 100 metres apart along the eastern edge of the drill area. The mineralized zones are hosted by quartz veined, sericitic and pyritic fine grained sediments that have been intruded by quartz porphyritic felsic sills. A summary of drill intercepts is presented in the later part of this release in Table 1.
Recent prospecting in an area approximately 2,000 metres south of the Kueredougou West Trend area, tested by drilling, returned three new gold occurrences, greater than 1 g/t gold with a best value of 4.25 g/t gold. These occurrences are related to narrow artisanal workings across, an approximately 400 metre wide area that is underlain by a mixture of sediments, volcanics and quartz porphyritic felsic sills. This geological package is very similar in character to the geology that hosts the Serakoro 1 Main occurrence, located approximately 25 kilometres to the south along an anomalous gold-in-soil trend.
Results of the drill program have been interpreted and modelling of the zones has commenced. Once the modelling is complete, future news releases will present the results of the drill program.
Savary’s procedures for handling reverse circulation drill chips comprise initial riffle splitting of the rock chips from one metre drill length samples into approximately 2.5 kilogram samples, as well as description and logging into a database. A duplicate 2.5 kilogram sample, prepared at the same time as the assay sample, is kept as a reference for each sample. Assay standards, sample duplicates and assay blanks were inserted sequentially every 14 samples resulting in an assay standard inserted every 42 samples. This sampling procedure was periodically reviewed by Savary’s President and CEO, and the Company QP, Don Dudek, P. Geo. All assay samples were collected at site by SGS Laboratory or Actlabs staff from Ouagadougou, Burkina Faso. Sample preparation and fire assays were performed by SGS Laboratories and Actlabs, both based in Ouagadougou. Each sample was dried, crushed to 85% passing 2 mm and then split to 1.5 kg by riffle splitter. The 1.5 kg, 2 mm split was pulverized to 95% passing 106 mm. Fifty grams of the pulverized material was analysed for gold via fire assay with an atomic absorption spectroscopy (AAS) finish. SGS Burkina Faso SA operates according to ISO 17025 standards and institutes a full Quality Assurance/Quality Control (QA/QC) program consisting of insertion of blanks, standard reference material, repeats and reject splits which in total account for up to 25% of all determinations conducted.
Figure 1: Kueredougou West Trend – Drill Hole plan
About Savary Gold
Savary Gold, a Canadian exploration company, along with partner, Sarama Resources Limited, is focused on exploring the 750 km2 Karankasso JV Property in Burkina Faso. The Property is located 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’s Yaramoko Project and Sarama’s/Acacia’s South Houndé JV Project, which is adjacent to the Karankasso JV property). For additional information please visit our website at www.savarygold.com.
Don Dudek, P.Geo., President and CEO of the Company 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 details of the drill program, the company’s exploration plans, the focus on existing drill targets and new targets. 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.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “1933 Act”), or any state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of U.S. persons (as defined in Regulation S under the 1933 Act) absent such registration or an applicable exemption from such registration requirements.
Table 1 – 2015 Drill Results Summary - Kueredougou West Trend
|HS-RC-15-83||80||81||1||0.55||no specific zone|
|HS-RC-15-100||81||82||1||1.54||no specific zone|
True widths are estimated at 70% of core length. This table presents all composite assays values returning greater than 0.5 g/t gold over 1 metre