Burkina Faso, West Africa
Savary Gold Corp. is focused on the exploration and development of its Karankasso gold Project. Savary has formed a joint venture arrangement between Savary (69.5%) and Sarama Resources (30.5%) which creates a 750 km2 property in the prolific Houndé Gold Belt. The property lies within an emerging gold camp, located about 130 km southwest of SEMAFO’s Mana Mine and 60 km south of Endeavour’s Houndé Deposit.
Savary highlights include:
- Initial pit-constrained Inferred Mineral Resources of 9.2 million tonnes grading 2.28 g/t gold totalling 671,000 ounces within six zones using a 0.5 g/t gold cut-off
- All mineralized zones still remain open in at least two directions with modelled mineralized lenses extending beyond the pit constrained mineral resources at all zones
- More than 60 new gold occurrences discovered in last 2 years, five regional > 15 km long gold mineralized systems along with numerous, parallel subsidiary mineralized structures
- Recent drill program returned 1.73 g/t Au over 28 metres at Karangosso and 9.75 g/t Au over 7 metres at a new zone
- Exploration has resulted in the development of a significant amount of drill targets, which will be tested starting in Q4, 2016
Karankasso Project Claims
- Property includes five exploration licences totalling 750 km2
- The combined strike of anomalous Au-in-soil trends is approximately 93 km
- Acacia, formerly African Barrick, has optioned properties to the north, east and south of the Property
- Semafo controls the property immediately east of the Serakoro 1 property, which hosts the Bantou gold zone
Regional Scale Gold Systems
- Regional scale mineralizing system 5 to 8 km wide x 45 km long
- Well developed alteration system with higher grade intercepts up to 3.33 g/t Au over 41 metres
- >45 kilometre long, strong associated, gold-in-soil anomaly
- Drilling and prospecting has resulted in the discovery of in excess of 60 gold occurrences with samples or drill intercepts containing more than 1 g/t gold.
Recent Drill Results
A total of 43 holes totalling 6,578.5 metres were completed over a period of 2.5 months in Q2 2016. A summary of select results are presented below (see Figure below for locations). Click here for July, 2016 news release.
• 1.34 g/t gold over 11.6 metres at S-Nosa Zone – New drill discovery
• 3.82 g/t gold over 13.0 metres at Karangosso Zone
• 1.73 g/t gold over 28.0 metres at Karangosso Zone
• 10.20 g/t gold over 1 metre at Karangosso Zone
• 0.77 g/t gold over 11 metres at Karangosso Zone
• 3.98 g/t gold over 7 metres at Karangosso Zone
• 1.32 g/t gold over 7 metres at Karangosso Zone
• 1.46 g/t gold over 7 metres at Karangosso Zone
• 2.77 g/t gold over 6 metres at NWQV Zone – New drill discovery
• 3.05 g/t gold over 4 metres at Diosso South Zone
• 12.24 g/t gold over 4 metres at Splay 2 Zone – New drill discovery
• 9.75 g/t gold over 7 metres at Splay 2 Zone – New drill discovery
• 3.00 g/t gold over 4 metres at Kueredougou West Zone
• 2.62 g/t gold over 2 metres at Bilenkulu Zone – New drill discovery
“This drill program has successfully extended the gold mineralization along strike at the Karangosso, Kueredougou West Trend, Diosso South and Kueredougou West Zones, and, in the case of the Karangosso Zone, also to depth” stated Don Dudek, President and CEO of Savary.Mr. Duduk further noted that “ Management is encouraged by the results and believes they indicate significant potential to increase the mineral resources at each of the zones while the geophysical surveys continue to support our view that the mineralized trends continue beyond the current drilling. Planning has already begun to fill in the drill gaps to be able to add to the current mineral resource estimates and determine if the new drill discoveries can be developed into stand alone deposits.”
Initial pit-constrained Inferred Mineral Resources of 9.2 million tonnes grading 2.28 g/t gold totalling 671,000 ounces within six zones using a 0.5 g/t gold cut-off.
Pit-constrained Mineral Resource Estimate and Sensitivity Summary*
- Mineral resources which are not mineral reserves do not have demonstrated economic viability. The estimate of mineral resources may be materially affected by environmental, permitting, legal, title, taxation, sociopolitical, marketing, or other relevant issues..
- The quantity and grade of reported inferred resources in this estimation are uncertain in nature and there has been insufficient exploration to define these Inferred resources as an Indicated or Measured mineral resource and it is uncertain if further exploration will result in upgrading them to an Indicated or Measured mineral resource category.
- The Karankasso Property Resource Estimates were prepared by Eugene Puritch, P. Eng. and Antoine Yassa, P. Geo. from P&E Mining Consultants Inc., Qualified Persons under NI 43-101 who are independent of the Company
- The mineral resources in this press release were estimated using the Canadian Institute of Mining, Metallurgy and Petroleum (CIM), CIM Standards on Mineral Resources and Reserves, Definitions and Guidelines prepared by the CIM Standing Committee on Reserve Definitions and adopted by CIM Council.
- The gold price used in this estimate was the Aug 31/15 approximate two year trailing average of US$1,250/oz. Gold recovery was 93% and mining costs were US$2.75/tonne. Processing and G&A costs combined were US$18.50/tonne. Pit optimization slopes were 50 degrees.
For more detailed resource information please use links below.
Toronto, Canada – October 8, 2015 – Savary Gold Corp. (TSX-V: SCA) (“Savary” or the “Company”) is pleased to announce an initial mineral resource estimate for its Karankasso Joint Venture Project in Burkina Faso of 9.2 million tonnes grading 2.28 g/t gold at a 0.5 g/t gold cut-off.
Technical Report and Resource Estimate on the Karankasso Project, Burkina Faso, Africa
- All mineralized zones are open along strike and to depth
- The mineralized zones are connected by through-going geophysical anomalies that have seen limited to no drilling between mineralized zones
- Multi km long sections of anomaly have not been tested
- The structure hosts a series of wider good grade mineralized lenses separated by sections of weaker mineralization – ‘pearls on a string’
- There are numerous, parallel and cross-cutting mineralized structures
Central Gold Corridor
- Target area is edge of purple/red colored geophysical anomaly (IP Chargeability).
- There is very little to no drill testing outside of the known zones
Southern Extent of Gold System
- Ore grade intercepts requiring follow-up
- Only wide-spread, first pass testing with good results to date. Drill fences are spaced from 200 to 2,000 metres apart on a 7 km long zone of mineralization
- An 11.5 kilometre gap in drilling along the trend from the southern-most Diosso South Zone hole and the Serakoro 1 Main area
- High priority targets include:
- Intersections of geophysical structures
- Areas of potential intrusions
- Changes in anomaly trends
- In Savary’s opinion, the likelihood of defining additional resources on the southern portion of the concession is high
- Robust exploration Q4, 2016 – 1H, 2017 program is being developed
- ~14,000+ m of RC drilling
- Increase inferred resources on known zones
- Follow-up on new drill discoveries
- Test new targets
- 10,000 metres of auger drilling
- Probe for gold zones in covered areas
- Geological mapping
- 200 line km of geophysical surveys
- Trace mineralized systems along strike to north and south
- Collect 3,000 soil samples
- Better defined gold zones to better focus drilling