PROSPECTING SAMPLES RETURN UP TO 53.2 GRAMS PER TONNE GOLD
Toronto, Canada – February 8, 2016 – Savary Gold Corp. (TSX-V: SCA) (“Savary”) announces new grab sample assay results from a recently completed field mapping and prospecting program over the Karankasso JV Project in south western Burkina Faso which is currently 65% owned by Savary and 35% owned by Sarama Resources Limited (“Sarama”). A summary of new zone significant results are as follows:
* Host rock composition unclear due to the intensity of the alteration
Highlights of this work include the following target areas:
“Boots on the ground has once again worked in our favour” stated Don Dudek, President and CEO of Savary “Not only have we discovered new, strategically interesting gold-trends, we have found new mineralized zones adjacent to our known zones and developed new conceptual drill targets based on the geological character of existing zones. Our plan is to drill test the best of the new targets and continue to build on our current resources in a follow-up drill program currently planned to commence in Q2, 2016.”
During December, 2015 and January, 2016 geological mapping and prospecting were carried out over an area that extended ~35 km north-south and ~19 km east-west. This work led to the discovery of 25 new gold occurrences (see Figure 1) and resulted in the development of an updated geological/mineralization model that will be used in the next drill program. Mapping focused on areas of inferred structural intersections, known mineralized trends and untested gold-in-soil anomalies. During the field program, data from 1,034 mapping stations was collected. An updated geological map is in progress.
Figure 1 – New occurrences and samples grading >1 g/t gold on the Karankasso Property
The following paragraphs provide greater details for four of the new targets areas.
A series of nine new gold occurrences (seven in 2015-16, two in 2014) were discovered 200 to 600 metres east and northeast of the Kueredougou Zone (Inferred mineral resources of 795,000 tonnes grading 3.31 g/t gold – Savary news release November 24, 2015) with recent grab samples of the artisanal workings returning up to 22.8 g/t gold. Other than a few scattered drill holes, none of the new zones have been tested by drilling. This target, which is approximately 2 km long, lies where the geological units are structurally rotated counter clockwise to a more northerly trend and where numerous cross-structures are evident in the geophysical and geological data. In this target area, the scattered artisanal miner’s excavations have intersected intensely sericitic, quartz and pyrite-altered intermediate volcanic rocks that returned up to 26.8 g/t gold (from a sample collected in 2014), intensely silicified, sericitized and sulphidized rock of undetermined protolith and stockwork quartz-veined, pyritic felsic intrusion that returned 22.8 g/t gold. As well, one of the artisanal workings returned a potassically-altered felsic intrusion with 1-3% disseminated molybdenite. The presence of mineralized and altered felsic intrusions along with occurrences of rocks that are so strongly altered that the original rock composition is not evident and the interpreted presence of numerous cross-structures, indicates that the Nosa target area would be, in management’s opinion, a high priority area for drill testing.
Figure 2 – Nosa Trend
Karangosso North area
Two new gold occurrences were discovered in the Karangosso North area. The new occurrences, both of which are associated with artisanal workings, are located 220 metres and 290 metres west of the projected north-northeast strike extension of the Karangosso Zone (Inferred mineral resources of 1.43 million tonnes grading 2.68 g/t gold – Savary news release November 24, 2015) and approximately 1.2 to 1.8 km north of the Karangosso Zone. The southern-most of the occurrences, which returned two samples grading, 1.82 g/t and 8.98 g/t gold, is associated with a quartz veined, pyritic, sericite- and carbonate-altered intermediate intrusion. Recently completed, induced polarization gradient (IP) geophysical survey data, suggests that the intrusion may be 350 meters by 900 meters in size; soil sample data, through the middle of the geophysical feature is strongly anomalous with eight samples containing from 27 to 218 ppb Gold across a 350 meter wide east-west portion of the geophysical feature. IP chargeability data, which is interpreted to represent areas with enriched pyrite, indicate chargeability highs adjacent to the edges of the inferred intrusion, coincident with the artisanal workings and the sites of the +1 g/t gold samples and along a structure across the middle of the inferred intrusion.
The northern-most sample, which returned 12.2 g/t gold, is located approximately 750 metres south of a 2014 grab sample that returned 11.55 g/t gold. Both occurrences lies along the same, coincident, northerly trending, IP resistivity and chargeability highs. Neither target has been drill tested.
The Karangosso North area is underlain by intermediate volcanics and sedimentary rocks that are intruded by several different ages of felsic-, intermediate- and mafic-composition intrusions.
The newly discovered DH trend was examined in two areas approximately 5 km apart along a north-northeast trend. The southernmost gold occurrence, DH Zone, and the portion of the trend subject to the most intense artisanal work, appears to be hosted by a northerly-trending gabbroic mafic intrusion that is cut by a series of northeast-trending, quartz-mineralized structures over a 700 metre long by 250 metre wide area (Figure 3). In this area, nine, parallel, up to 300 metre long mineralized structures have been subject to shaft-style artisanal mining (see Figure 3) with the deepest shafts reportedly extending to 80 metres vertical. It is expected that the mineralized structures are made up of multiple mineralized veins, as the artisanal miners along one of the trends reported that they were mining three, separate narrow quartz vein zones from one shaft. Only the deepest shafts, along one of the nine mined structures, return fresh rock, which in this case, is strongly silicified gabbro in which all primary textures are overprinted by alteration. All of the rest of the shafts, which extend to approximately up to 25 metres depth, remain in oxidized saprolitic rocks. The artisanal miners are focussed on the silicified core of the mineralized structures which is best described as a mixture of quartz vein and silicified mafic intrusion with trace to 10% granular pyrite. Rocks peripheral to the core silicified zone, which are discarded in waste piles, contains from, trace to 2% coarse grained pyrite and up to 30% coarse bladed arsenopyrite along with trace to 15% quartz veins; grab samples of this material return up to 5.99 g/t gold. Sulphide content is not directly related to quartz vein percentage and occurs more as disseminations throughout the rock. A large area of shallow artisanal diggings, surround the area of deeper shafts and extend southward for another 1,300 metres and up to 650 metres east-west. Only one surface exposure of rock was observed in this area with most shafts displaying close to two metres of laterite above the saprolitic rock.
The northern-most occurrence along this trend, DHN Zone, is hosted by intermediate volcanic debris flows that are bound along the eastern contact by a folded sedimentary package. Grab samples of quartz-rich material returned up to 3.08 g/t gold. This cluster of artisanal workings extends for approximately 900 metres along a north-northeast trend with one of the working areas extending for approximately 350 metres in an east-west orientation. The quartz vein zones trend northeast, similar to the DH Zone, to the south.
A third area of artisanal workings, DHFN Zone, visible on a satellite image, which were not examined, occurs approximately five km north of the DHN zone. This workings area lies approximately in the same stratigraphic position as determined by both airborne magnetic data and multi-element soil geochemical data. Historic samples collected over this portion of the trend, returned 2.82 g/t gold, 5.21 g/t gold and 18.2 g/t gold.
The northern portions of the DH trend, from the DHN to the DHFN Zones is bound on the east by a northeast-trending zone of manganese enrichment that is up to 500 metre wide, 7,500 metre long, in which numerous soil samples contain greater than 1% manganese. This manganese-in-soil anomaly parallels both the eastern edge of the DH trend and the regional structural grain as evident in the airborne magnetic data. There is no manganese-in-soil data collected south of the DHN Zone.
The area between the DH and DHN zones, has not been covered by soil surveys. The DHN zone is located proximal to a 900 metre long gold-in-soil anomaly that returned gold-in-soil values to 360 ppb. The DH zone, which was covered by three soil lines 200 metres apart with sample stations every 25 metres, is not related to a corresponding soil anomaly. It is possible that the laterite cover in the DH zone area, masks the bedrock response.
Figure 3 – DH Zone
Serakoro 1 Main Trend
Mapping and sampling in the Serakoro 1 Main Trend has identified three new gold occurrences and documented four, parallel, north-trending zones of gold mineralization. These zones occur lie within a regional scale, northerly-trending gold-in-soil anomalous trend that can be traced the length of the Karankasso Property, approximately 45 km. The Serakoro 1 Main zones (Sera 1 Main W1, Sera Main, Sera Main E1 and Sera Main East 2) are hosted by sedimentary units intercalated with well foliated, sericitic, lenses of felsic intrusion (or felsic tuff). Mineralization is related to quartz veining and associated pyritization along shear-zones within the sedimentary package. This large area of mineralization can be traced for just over seven kilometers north-south and is approximately 700 metres wide. Wide spaced drill fences, to test portions of the gold-in-soil anomaly trend, were completed in 2012 and 2013. This package of mineralization has not been traced further north or south due to a lack of outcrop and artisanal workings. An IP Gradient survey was just completed over a seven kilometre portion of the northerly strike extension of this trend, extending southward from the Diosso South and Kueredougou West Trend zones, located in the central part of the Karankasso Property. No IP surveys have been carried out over the Serakoro 1 Main area.
A summary of results and drilling over the Serakoro 1 Main zone:
Sera 1 Main – Three, drill fences, 1,000 metres apart – the best hole returned 2.66 g/t gold over 10 metres and 0.81 g/t Gold over 11 metres. A hole 1,000 metres to the south returned an intercept of 1.96 g/t gold over 2 metres. There are no other holes that tested this eastern portion of the zone.
Sera 1 Main W1 – Two, drill fences 1,000 metres apart. Best hole returned 3.31 g/t gold over 2 meters. This hole is 1.8 km south of the new occurrence on this trend.
Sera 1 Main E1 – Two, drill fences 4,000 metres apart. Best, hole at northern fence returned 1.48 g/t gold over 5 metres. New gold occurrences 7.18 g/t gold and 2.55 g/t gold, are approximately 200 metres and 700 metres south of this drill hole, respectively.
Sera 1 Main E2 – Two drill fences 4,000 metres apart. One hole at the southern end of this trend returned 4.37 g/t gold over 4 metres.
All samples were collected in plastic bags, which were stapled shut with a sample tag before inserted into a larger poly sample bag for shipment to Actlabs in Ouagadougou. Sample blanks and assay standards were inserted every ten to 20 prospecting samples resulting in 5% to 11% of the assayed samples being reference/blank control samples. Upon reception of the assay results, the results for the reference and blank control samples were compared against expected results. All standards and blank control samples returned results within expected ranges. Don Dudek, P. Geo. has reviewed and supervised the QA/QC program.
About Savary Gold
Savary Gold is a Canadian exploration company, along with partner, Sarama Resources Limited, are focused on exploring the Houndé South and Serakoro 1 Gold Properties in Burkina Faso. The properties are 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, Orezone’s Bondi Project and Sarama’s South Houndé Project, which is adjacent to Savary Gold’s property). The property contains an Inferred open pit constrained mineral resource of 9.16 million tonnes grading 2.28 g/t gold (Savary news release November 24, 2015) 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 field program, the discovery of new gold mineralization, the identification of new gold trends, historical drill intercepts and the results of historical data being indicative of the potential of the property. 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