In the first drilling programme undertaken since Sarama Resources (ASX:SRR) listed on the ASX, the explorer has successfully extended the high-grade gold mineralisation in the oxide material at the Obi Prospect in south-west Burkina Faso.
Highlights:
- Multiple high-grade intersections returned in oxide material at the Obi Prospect within the multi-million-ounce Sanutura Project.
- Highlight intersections include 10m at 2.78g/t from 38m, including 1m at 14.80g/t; 11m at 1.80g/t from 23m, including 1m at 11.15g/t; and 3m at 4.57g/t (ending in mineralisation) from 39m.
- Flat-lying mineralisation extended in all directions with a footprint measuring 950m along strike and up to 300m down-dip.
- New target areas for future near-surface exploration identified, including an untested trend extending 1.8km along strike to the north-east.
- These results deliver one of Sarama’s near-term objectives of growing the oxide component of the Project’s already large Mineral Resource of 0.6Moz Au (Indicated) plus 2.3Moz Au (Inferred).
The drilling has delineated an extensive zone of flat-lying mineralisation in shallow, oxide material which extends approximately 950m along strike and up to 300m down-dip with mineralisation remaining open down-dip.
These results deliver one of the company’s near-term objectives of growing the oxide component of the Project’s already large Mineral Resource of 0.6Moz Au (Indicated) plus 2.3Moz Au (Inferred).
Exploration potential in the area has also been enhanced with the emergence of a new target area immediately along strike to the north-east, which is untested for approximately 1.8km.
The company anticipates drilling its highest priority targets and commencing regional greenfields exploration early in the next field season commencing Q4 2022.
We are very excited by these first drill results at the Obi Prospect which have defined extensive and shallow, oxide-hosted gold mineralisation in single and multiple higher-grade zones. This drilling has extended a previously minor zone to approximately 950m in length with a further 1.8km of strike potential yet to be tested,” Sarama’s President, CEO and MD, Andrew Dinning, said.
“The tenor and flat-lying nature of this mineralisation suggests a different mineralising event to the sub-vertical, lower-tenor gold lodes seen in this local area and it has led us to a new target model reminiscent of Endeavour Mining’s flat-lying Kari Pump and Boungou Deposits in Burkina Faso.
“With further drill results to come, we look forward to providing a series of updates over the coming months. Sarama’s approximate market capitalization of A$20M presents a deeply discounted valuation for the Project’s Mineral Resource base of 0.6Moz Au (Indicated) plus 2.3Moz Au (Inferred), even more so considering that the current drill program is anticipated to yield a significant increase.”
