Toronto, Canada – April 18, 2016 – Savary Gold Corp. (TSX-V: SCA) (“Savary” or the “Company”) announces that drilling commenced on the Karangosso Project on April 16, 2016 as scheduled. The Karankasso JV Project located in south western Burkina Faso is currently 65% owned by Savary and 35% owned by Sarama Resources Limited (“Sarama”).
The recommended and approved drill program totalling 6,500 metres in 45 to 55 holes is currently designed to follow-up on four of the six zones that contain resources, and to test new targets with an ongoing overall goal to increase the overall resources and to discover new zones. Zone drilling comprises approximately 53% of the currently planned drill metres. Follow-up holes will further target extensions to the known zones and any new discoveries that demonstrate superior potential to lower the discovery cost/ounce of resource.
“Our first six to eight core holes will test both existing and new gold-mineralized systems that, in the field, display, what management believes, demonstrates the best potential that we have developed to date, for both size and grade” stated Don Dudek, President and CEO of Savary. “Once these holes are completed, follow-up RC holes are designed to test: for extensions to known zones; for new gold occurrences; new conceptual targets. As always, we eagerly anticipate the assay results.”
A total of 30 holes comprising 4,235 metres have been planned to date representing 65% of the budgeted metres. Approximately 25% of the program’s drill meters will be core holes with the remainder, reverse circulation (“RC”) holes. Additional holes will be planned once these initial holes are drilled and supporting assay or visual results are received. It is expected that the drill program will take approximately six weeks to complete.
Savary recently participated in a C-Suite TMX-sponsored, video interview presentation that can be viewed through the following link - https://youtu.be/RT9gxYWuuXw. During the interview, Don Dudek, President and CEO of Savary, summarizes the Company’s flagship Karankasso Project, recent milestones, catalysts, including the recently initiated drill program, working in Burkina Faso and its positive relationship with the TSX-V.
Don Dudek, President and CEO of Savary, was also interviewed by Dr. Allen Alper of MetalNews.com. The interview is titled “Dr Alper Interviews Don Dudek, President and CEO of Savary Gold: Karankasso Gold Project in the Prolific Houndé Gold Belt in Burkina Faso, West Africa”. This written interview can be accessed through the following link - http://www.metalsnews.com/t1090048i.
Both of these interviews were designed to further highlight Savary’s exceptional Karankasso Project and to broaden Savary’s market exposure. Links to both the video and written interview are posted on Savary’s web site.
About Savary Gold
Savary Gold is a Canadian exploration company which, along with partner Sarama Resources Limited, is 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 production decisions and extensive exploration efforts (including Endeavour Mining’s Houndé Project, Roxgold’s Yaramoko Project, Orezone’s Bondi Project and Sarama’s/Acacia’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 atwww.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