Toronto, Canada – March 7, 2016 –Savary Gold Corp. (TSX-V: SCA) (“Savary”) announces newly reviewed grab sample assay results collected by Delta Gold in 1996 and 1997 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 results of these additional zones is presented below.
“These new occurrences have been thrown into hat with the others and have been prioritized using our newly developed mineralization model” stated Don Dudek, President and CEO of Savary. “Those new targets, which we currently think are the best of the best, will be tested in our next drill program along with a program designed to add scope to our currently defined zones. Drilling is planned to commence in Q2, 2016.”
In February, Savary Gold received historic Delta Gold data files that included results for 1,736 prospecting samples collected in 1996 and 1997. The data also indicated a series of new gold occurrences as documented above. Some additional gold occurrences are evident in the data, but, will require site validation.
Over the past two years, Savary Gold has carried out a field and mapping program that has resulted in a much better understanding of the geological controls for the gold mineralization and the discovery of an additional 60+ new gold occurrences.
All presented zones are referenced in the attached figure at the end of this release.
The FDHN Zone is located over an artisanal mining site at the northern end of the newly documented 18 km long DH Trend. The DH trend was first documented during a site visit to the DH zone in January, 2016. This area was selected for review after satellite images indicated the presence of artisanal mine shafts and a large area of surface workings. At the site, numerous 2 to 2.5 metres wide, cemented to non-cemented shafts, with the deepest reported to extend to 80 metres vertical were observed. In this area, nine, parallel, up to 300 metres long mineralized structures have been subject to shaft-style artisanal mining. 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. The balance of the shafts, which extend to approximately 25 metres depth, remain in oxidized saprolitic rock. 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, contain 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 returned up to 5.99 g/t gold. Sulphide content is not directly related to quartz vein percentage and occurs as disseminations throughout the rock. A large area of shallow artisanal diggings, surround the area of deeper shafts and extends southward for another 1,300 metres and up to 650 metres east-west. Only one surface exposure of fresh rock was observed in this area with most shafts displaying close to two metres of laterite above the saprolitic rock.
The Dio Zone is located approximately 1,400 metres northeast of the Kueredougou Zone (open pit Inferred mineral resource of 795,000 tonnes grading 3.31 g/t gold totalling 84,500 ozs gold – Savary news release November 24, 2015). Grab samples collected over this zone returned 2.25 g/t, 12.5 g/t, 3.8 g/t and 29.5 g/t gold. The Dio zone is diorite-intrusion-hosted and is inferred to be located in the same structurally complex zone that resulted in the emplacement of several felsic to intermediate intrusions and created the Kueredougou Zone.
The QPT Zone is located 1.25 km west of the southern end of the Kueredougou zone. The QPT zone is interpreted to be hosted by a quartz porphyritic felsic tuff unit that extends from north of the previously documented Highway QP zone to approximately 1.7 km south of the QPT zone, a distance of approximately 13 km. This mineralization trend has been subject to recent intense artisanal mining activity and may develop into an important target area. Other than for a small survey over the Highway QP zone this mineralization trend has not been covered by ground IP (Induced Polarization) surveys; IP surveys have been used to trace gold mineralized zones along strike and to define new targets in overburden-covered areas.
Splay 1 Zone
The Splay 1 Zone is located 1.2 km east of the southern end of the Kueredougou West Zone (open pit Inferred mineral resource of 1,904,000 tonnes grading 2.12 g/t gold totalling 129,700 ozs gold – Savary news release November 24, 2015). Grab samples collected over the Splay 1 Zone contained 1.82 g/t, 4.61 g/t, 5.63 g/t, 9.3 g/t, 15.98 g/t, 19.04 g/t and 22.0 g/t gold. This zone appears to be a Splay structure off of the Koure East Sulphide Trend and is associated with the western edge of a north-northeast-trending, 2.3 km long IP chargeability trend. A large, 600 meter by 300 meter area of shallow artisanal workings in cover laterites, lies along the geophysical trend to the south; it is possible that these workings are sourced from a yet undiscovered laterite-covered zone that lies along the prospective geophysical trend. No drill holes have tested this target area.
Splay 2 Zone
The Splay 2 Zone is located approximately 1,000 metres east of the southern end of the south end of the Kueredougou West Zone. Samples collected over the Splay 2 Zone contained 1.84 g/t gold, 2.97 g/t gold, 3.16 g/t gold, 4.03 g/t gold, 5.4 g/t gold, 9.58 g/t gold, 20.88 g/t gold and 39.57 g/t gold. This zone is aligned along a north-northeast trending IP chargeability high that can be traced for approximately 1.8 km and may correlate with a seven metre RAB intercept that returned 1.04 g/t gold, located approximately 440 metres to the south.
Sera Main S Zone
This new occurrence is the most southerly gold occurrence identified to date. It is located at the southern end of a 45 kilometre long gold-in-soil trend and approximately 10 km south of the Serakoro Main Zone. Twelve Samples collected from this area returned high values of 1.12 g/t, 13.89 g/t and 5.24 g/t gold. A RAB hole, located approximately 275 metres to the north, returned 0.79 g/t gold over 2 metres.
Sera Main SC Zone
The Sera Main SC Zone is located approximately 1,000 metres west-northwest of the Sera Main S Zone. This zone is unique in that it is the first documented gold occurrence which appears to be hosted by a regional scale chert horizon that has been intermittently traced for at least 30 km. In the occurrence area, the trend of the geology is rotated from north to northwest.
Assay samples were sent to Analabs in Ouagadougou, Burkina Faso and analysed by fire assay. No standards are noted in the sample streams.
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About Savary Gold
Savary Gold is a Canadian exploration company, along with partner, Sarama Resources Limited, are focused on exploring and developing the Karankasso Gold Project in Burkina Faso. The Project properties lie within 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 Project 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 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 statement 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.
* Red dots and diamonds – grab samples gold occurrences containing >1 g/t gold
* Yellow dots and diamonds – grab sample gold occurrences containing from 0.5 g/t to 1.0 g/t gold
* Purple Stars represent mineralized zones with drill results
* Black stars represent new zones referred to on this release