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Sarama Resources Discovers Several Gold-Bearing Quartz Vein Systems at Botoro Property

Sarama Resources Ltd. is pleased to report that the first phase of exploration on the Company's recently-acquired1 Botoro Property in south-west Burkina Faso has identified several gold-bearing quartz vein systems associated with regional shear zones and a preliminary soil geochemistry survey has returned gold-in-soil anomalism associated with structural features over a distance of approximately 10km.

The Botoro Property is part of the Company's 100%-owned, 660km² ThreeBee Project2 in the highly prospective southern Houndé Belt.

Highlights

  • Wide-spaced geochemical survey identified several km-scale anomalous zones coincident with regional scale structural features, including three 2-3km-long zones within a 10km-long structural corridor
  • Geochemical survey returned several single-point +250ppb Au gold-in-soil assay results outside these main trends, including a high-grade sample of 4,420ppb Au (4.4g/t Au) in an area not disturbed by artisanal mining
  • 10 artisanal mining sites identified by surface prospecting, all of which are exploiting in-situ mineralisation, including a gold-quartz system in the north which extends for over 500m along strike
  • Several gold-bearing quartz vein systems identified and noted to be closely associated with regional shear zones
  • Geology noted to feature a diverse assembly of volcano-sedimentary and volcanic rocks, complemented by granitic intrusive units and structural features of multiple orientations to produce a fertile environment for gold mineralisation
  • 20km-long north-trending regional shear noted to extend the length of the Property and link zones of artisanal mining activity
  • Follow-up work programs planned, including a targeted soil-infill program and mapping of artisanal workings
  • Targeting high-grade mineralisation to support either a stand-alone operation or as satellite feed to Sarama's other interests in the ThreeBee Project, which includes the Bondi Deposit1

Sarama's President and CEO, Andrew Dinning, commented:

"We are encouraged by the initial stages of exploration at the newly-acquired Botoro Property that is part of Sarama's 100%-owned ThreeBee Project. The identification of several, regional-scale shear zones and associated gold mineralisation indicates that the Property has good exploration potential. The highest soil sample assay of 4.4g/t Au is unusually high for this area of the southern Houndé Belt and may indicate the potential for the presence of a high-grade mineralised system. We hope to advance the Property by conducting further exploration activities in the coming exploration season to delineate targets for prioritisation."

BOTORO PROPERTY EXPLORATION

Location and Work History

The 224km2 Botoro Property is located on the eastern flank of the well-endowed southern Houndé Greenstone Belt and is part of the Company's 100%-owned, 660km² ThreeBee Project (refer Figure 1). The Property is well positioned with respect to known gold occurrences, being approximately 20km from Sarama's Bondi Deposit1 and adjacent to the South Houndé Project (2.1Moz inferred mineral resource)4.

A desktop review by Sarama on the Botoro Property concluded that historical work was very limited in scope and specifically targeted discrete areas hosting artisanal activity. Despite this narrow focus, the reconnaissance-type drilling programs yielded encouraging results with high-grade mineralisation intersected directly under the artisanal workings.

The high-grade nature of the known mineralised systems, presence of structural features, lithological diversity and the lack of systematic exploration over most of the Property augers well for future exploration success.

Mineralisation Occurrence Mapping and Soil Geochemical Survey by Sarama

Sarama undertook a soil geochemical survey over all the greenstone rocks within the permit area using an initial, wide-spaced grid of 800m x 200m to identify mechanical gold dispersion beneath the aeolian and thin colluvial horizons.

The first-pass survey was successful in identifying several areas of km-scale gold-in-soil anomalism that are proximal to contrasting lithological and structural features (refer Figure 2), illustrating the potential for the Property to host gold mineralisation.

Of principal interest are three zones of gold-in-soil anomalism, each extending over a distance of 2-3km and defined by +8ppb Au and +20ppb Au contours (90th and 98thpopulation percentiles respectively), within a 10km-long corridor that is proximal to a north-trending regional-scale fault. Each of these three areas is proximal to cross-orientation trends of minor soil anomalism, potentially suggesting a favourable structural environment for gold deposition.

In addition to these main areas, several other anomalous zones, trending north-east and east-west, were delineated by +8ppb Au and +20ppb contours. These are also proximal to interpreted structural features, indicating potential for in-situ gold mineralisation.

Outside of these trends, several single-point anomalies (+250ppb Au) punctuated the survey area, with the highest result being 4,420ppb Au (4.4g/t Au) from an area far removed from artisanal activity. The results are significant in that several areas of gold anomalism are found in undisturbed areas and along interpreted shear projections. A number of areas have been prioritised for follow-up by infill soil sampling at a grid spacing of 100m x 100m.

Mapping and prospecting by Sarama has delineated 10 present and former artisanal working sites that range from large areas of surficial panning over a 1km2 area in the south-east quadrant of the Property to scattered and smaller areas characterised by pitting at shallow to moderate depths. All the artisanal areas are noted to be focused on in-situ quartz-gold vein systems or surficial enrichment via erosional deflation, which reinforces the prospectivity of the Property.

The large artisanal working site in the north of the Property has some of the deepest artisanal shafts, some which are concrete lined and extending 40m deep, where a series of north-trending, gold-quartz veins have been exploited by artisanal miners over a strike length of 500m.

Faults, shear zones and lithologic contact areas are observed to be the main host environments with gold mineralisation being associated with quartz veins of various orientations.

Geological Mapping

Reconnaissance-level geological mapping by Sarama (refer Figure 2) concludes that the Property is underlain by abundant Birimian greenstone units (65%), with the rest of the area underlain by various granitoid bodies (35%).

The more prevalent volcano-sedimentary, andesitic-to-basaltic volcanic rocks and minor volcanic breccias or pyroclastic flows are similar rocks to those which host gold deposits of significance within the Houndé Greenstone Belt, such as the Mana, Yaramoko and Houndé mines.

A north-trending tonalite-granodiorite intrusion is mapped along the eastern side of the Property and is part of a large batholith that separates the Boromo and Houndé Greenstone Belts. The contact is marked by shearing and contact metamorphism. A syn-to-late granite intrusion, similar to the granite associated with Roxgold Inc's Yaramoko deposit, lies along the northern perimeter of the Property and is part of the larger Bondigui Stock that stretches further to the north. Small east-trending felsic dykes have also been noted in the mapping program.

Several orientations of permit- and regional-scale faults and shears have been interpreted throughout the Property including a significant east-trending fault recognised within a large artisanal mining site in the centre-east of the Property where intense foliation and aligned gold-quartz veins are found. A 20km-long north-tending fault is interpreted through the central part of the Property linking artisanal workings in the north to the high-grade, single-point gold-in-soil anomaly (4,420ppb Au, 4.4g/t Au) in the southern extremity of the Property. Adding to the structural setting is a north-north-east-trending, banded and silicified zone in the central basalt domain, interpreted as a mylonite and marking a possible, regional-scale shear zone.

The lithological diversity, presence of multiple regionally extensive structural features of varying orientations and presence intrusive units demonstrates an active geological environment with good potential to host gold mineralisation of significance.

References

1. Upon closing of the respective purchase agreements, Sarama will hold a 100% interest in the Botoro Property and the Djarkadougou Property, which hosts the Bondi Deposit.
2. The ThreeBee Project comprises the Djarkadougou, Botoro, Bamako and Bouni Properties.
3. Bondi Deposit - 4.1Mt @ 2.1g/t Au for 282,000 oz Au (measured and indicated) and 2.5Mt @ 1.8g/t Au for 149,700 oz Au (inferred), reported at a 0.5 g/t Au cut-off.

i. The historical estimate of the Bondi Deposit reflects a mineral resource estimate compiled by Orezone Gold Corporation (“Orezone”) which has an effective date of February 20, 2009. The historical estimate is contained in a technical report titled “Technical Report on the Mineral Resource of the Bondigui Gold Project”, dated date of February 20, 2009 (the “Bondi Technical Report”) and is available under the profile of Orezone on SEDAR at www.sedar.com.

ii. Sarama believes that the historical estimate is relevant to investors’ understanding of the property, as it reflects the most recent technical work undertaken in respect of the Bondi Deposit.

iii. The historical estimate was informed by 886 drillholes, assayed for gold by cyanidation methods, were used to interpret mineralised envelopes and geological zones over the area of the historical estimate. Gold grade interpolation was undertaken using ID² methodology based on input parameters derived from geostatistical and geological analyses assessments. Field measurements and geological logging of drillholes were used to determine weathering boundaries and bulk densities for modelled blocks.

iv. The historical estimate uses the mineral resource reporting categories required under National Instrument 43-101.

v. No more recent estimates of the mineral resource or other data are available.

vi. Sarama is currently undertaking the necessary verification work in the field and on the desktop that may support the future reclassification of the historical estimate to a mineral resource.

vii. A qualified person engaged by Sarama has not undertaken sufficient work to verify the historical estimate as a current mineral resource and Sarama is therefore not treating the historical estimate as a current mineral resource.

4. South Houndé Project - 43.0 Mt @ 1.5 g/t Au (reported above cut-off grades ranging 0.3-2.2 g/t Au, reflecting the mining methods and processing flowsheets assumed to assess the likelihood of the inferred mineral resources having reasonable prospects for eventual economic extraction). The effective date of the Company’s inferred mineral resource estimate is February 4, 2016. For further information regarding the mineral resource estimate please refer to the technical report titled “NI 43-101 Independent Technical Report South Houndé Project Update, Bougouriba and Ioba Provinces, Burkina Faso”, dated March 31, 2016. The technical report is available under Sarama Resources Ltd.’s profile on SEDAR at www.sedar.com.
5. Karankasso Project - 9.2 Mt @ 2.3 g/t Au (at a 0.5 g/t Au cut-off). The effective date of the Karankasso Project JV mineral resource estimate is October 7, 2015. For further information regarding the mineral resource estimate please refer to the technical report titled “Technical Report and Resource Estimate on the Karankasso Project, Burkina Faso”, dated October 7, 2015. The technical report is available under Savary Gold Corp’s profile on SEDAR at www.sedar.com. Sarama has not independently verified Savary’s mineral resource estimate and takes no responsibility for its accuracy. Savary is the operator of the Karankasso Project JV and Sarama is relying on their Qualified Persons’ assurance of the validity of the mineral resource estimate.
6. For further information regarding the drilling on the Bamako and Bouni Properties, please refer to the technical report titled “NI 43-101 Independent Technical Report South Houndé Project Update, Bougouriba and Ioba Provinces, Burkina Faso”, dated October 28, 2013. The technical report is available under Sarama Resources Ltd.'s profile on SEDAR at www.sedar.com.

Source: http://www.saramaresources.com/

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