Early-stage targets reveal further gold growth potential for Sarama in West Africa
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Sarama Resources continues to prove up the growth potential at its Sanutura project with drilling at the Kenobi and Djimbake prospects delivering multiple near-surface intersections of new mineralisation in the south of the Tankoro deposit.
Sarama Resources (ASX:SRR) has unearthed its sixth discovery outside the current resource since starting its extensive +50,000m drilling campaign this year at the multi-million-ounce Sanutura project in Burkina Faso.
The latest 2,900m of drilling was primarily focused on testing for new mineralisation in lightly drilled areas of the Kenobi, Djimbake and Obi prospects.
Top hits comprised 5m at 7.05 grams per tonne (g/t), including 1m at 25.6g/t from 9m; 22m at 1.52g/t from 22m; 10m at 1.33g/t from 23m; 14m at 1.2g/t from 10m; 6m at 1.9g/t from 15m; and 6m at 1.49g/t from 7m.
The results continue to demonstrate the strong potential to grow the oxide component of the 2.9Moz indicated and inferred resource, with drilling targeting the near-surface oxide horizon to a vertical depth of about 50m.
The Tankoro deposit hosts 2.5Moz of the total resource.
“These most recent drill results continue to support our view that significant potential remains to make new discoveries outside the existing mineral resource in the Tankoro Mineralised Corridor, which stretches over 16km in length and is up to 1.7km in width,” managing director Andrew Dinning said.
“Previously released results align with this theme, as do the strong grades and widths of mineralisation in new, near-surface oxide material, which together clearly show the potential for growth in the footprint and size of the mineral resource.
“We now have a number of exciting new areas to follow up and incorporate into the mineral resource which we plan to update after the completion and follow up of the current +50,000m drill program.”
About a third of the nearly 3Moz resource is in oxide material, and two thirds is over 2g/t gold, opening the way to a staged and scalable development with a strong economic case.
Sarama is aiming to add at least 350,000 and potentially as much as half a million ounces to its gold inventory once it has completed its large drilling program.
The company has a controlling position along 70km of the prolific Houndé gold belt just 60km south of Endeavour Mining’s 5Moz Houndé mine, 120km south of Fortuna Silver’s high-grade +1Moz Yaramoko mine and 140km south of Endeavour Mining’s 5Moz Mana mine.
The Southern Houndé belt gold endowment exceeds 20Moz and Burkina Faso has eight operating mines, producing around 2Moz of gold this year, with a further two currently in development.
Sarama plans to begin follow-up drilling, including greenfields exploration drilling, in 2023.
This article was developed in collaboration with Sarama Resources, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.