Sarama Resources is certainly in the right location for building the next major gold operation, having uncovered yet another mineralised area outside of the existing 2.9-million-ounce resource at its Sanutura Project in Burkina Faso.

West Africa has long been known as a gold exploration hotspot, you just have to look at the successes of West African Resources (ASX:WAF), Predictive Discovery (ASX:PDI), Perseus Mining (ASX:PRU) and Chesser Resources (ASX:CHZ).

Sarama Resources (ASX:SRR) has been in the region for some time now and every time the junior explorer drops the drill bit in, it hits paydirt.

The latest news out is that Sarama has discovered a new near-surface, mineralised trend spanning 700m (so far) to the north of the Tankoro deposit.

This marks the seventh discovery of mineralisation outside of the nearly 3Moz indicated and inferred resource since the start of the massive +50,000m drilling program in May last year, mere days after Sarama made its ASX debut.

Top hits from the latest batch of results featured 20m at 1.68 grams per tonne (g/t) from 16m, with the intercept ending in mineralisation; 13m at 1.79g/t from 7m, including 2m at 8.88g/t; 6m at 2.91g/t from 31m, including 1m at 12.1g/t; and 5m at 3.01g/t from 43m, including 2m at 6.7g/t.

Sarama was testing for new mineralisation within the Phantom, Phantom East, and Phantom West prospects.

Managing director Andrew Dinning said these new results from the north of the 2.5Moz Tankoro Deposit continued to illustrate the potential for discovery and extension of mineralisation within the laterally extensive Tankoro Mineralised Corridor.

“We are excited that new, near – surface discoveries continue to be made throughout the Tankoro Mineralised Corridor with the most recent results representing the seventh successive area where new mineralisation has been intersected outside the mineral resource,” he said.

“This bodes well for the many other targets that have been identified and are yet to be drilled and continues to support our view that significant exploration potential remains.

“The identification of new cross – linking mineralisation is expected to add to the current mineral resource which we plan to update after the completion and follow up of the current +50,000m program, a majority of which is cost-effective aircore drilling.”

The mineralisation remains open in all directions and, importantly, potential exists for it to be extended further to the southwest where it may intersect the main mineralised trend in the Phantom West prospect.

Sarama says this theory is supported by the elevated gold-in-soil values and would bring the total length of this oblique mineralisation to about 1.2km.

The results continue to demonstrate the strong potential to grow the oxide component of the resource. 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 the 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, with two more currently in development.

With all assays now back from the second and third quarters of the 2022 program, Sarama is currently compiling results and incorporating these in planning for further drilling of its highest priority targets around the resource at the Tankoro and Bondi deposits.

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.