Andrew Dinning or Paul Schmiede email: email@example.com telephone: +61 8 9363 7600
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About Sarama Resources Ltd
Sarama Resources Ltd is a Canadian company with a focus on the exploration and development of gold deposits in
. The board of directors and management team, a majority of whom are founders of the Company, are seasoned resource industry professionals with extensive experience in the exploration and development of world-class gold projects in
The South Houndé Project in south-west
is the Company's flagship property and is currently the focus of an aggressive exploration program to increase the size of its maiden discovery and to test gold-in-soil anomalies located in a 30km-long structural corridor. Recent drilling programs at the South Houndé Project have intersected significant mineralisation in several prospect areas which the Company is actively following up. The Company has built substantial early stage exploration landholdings in prospective and underexplored areas of
(~2,400 km²) and
(~560 km²) and is aggressively exploring across the property portfolio.
Figure 1: Geochemical Anomalies Superimposed on Magnetic Image - Gbarpolu Property
Figure 2: Sarama's Exploration Properties in Liberia
Caution Regarding Forward Looking Statements
Information in this news release that is not a statement of historical fact constitutes forward-looking information. Such forward-looking information includes statements regarding the Company's planned exploration programs, including when results may be available and when the Company expects to increase its interest in the PedSam properties. Actual results, performance or achievements of the Company may vary from the results suggested by such forward-looking statements due to known and unknown risks, uncertainties and other factors. Such factors include, among others that the business of exploration for gold and other precious minerals involves a high degree of risk and is highly speculative in nature; few properties that are explored are ultimately developed into producing mines; geological factors; the actual results of current and future exploration; changes in project parameters as plans continue to be evaluated, as well as those factors disclosed in the Company's publicly filed documents.
There can be no assurance that any mineralisation that is discovered will be proven to be economic, or that future required regulatory licensing or approvals will be obtained. However, the Company believes that the assumptions and expectations reflected in the forward-looking information are reasonable. Assumptions have been made regarding, among other things, the Company's ability to carry on its exploration activities, the sufficiency of funding, the timely receipt of required approvals, the price of gold and other precious metals, that the Company will not be affected by adverse political events, the ability of the Company to operate in a safe, efficient and effective manner and the ability of the Company to obtain further financing as and when required and on reasonable terms. Readers should not place undue reliance on forward-looking information.
Sarama does not undertake to update any forward-looking information, except as required by applicable laws.
Notes - Soil Geochemistry
Soil geochemistry results are reported as processed data for a population of raw assay results. The effects of mechanical and chemical concentration, weathering, and the topographical and vegetative settings have not been presented and therefore results reflect a first-pass exploration phase. No top-cuts were applied to assay grades.
Sarama undertakes geological sampling and assaying in accordance with its QA/QC program which includes the use of certified standard reference materials, uncertified blank reference materials and field duplicates. Gold assay work was undertaken by the SGS S.A. laboratories in Monrovia, Liberia and Tarkwa, Ghana. Assays are determined by aqua regia digest of a 50g charge, followed by solvent extraction and an AAS finish with a 2ppb Au lower detection limit.
Soil samples were collected from holes with a nominal diameter of 200mm which were manually excavated to a depth of approximately 400-500mm. Holes were spaced on a regular grid measuring 400m (east-west) x 50m north-south), or 200m (east-west) x 50m (north-south) where higher priority targets were identified. Field samples of 2-3kg were collected from each hole, after which a sub-sample was produced by sieving for assaying.
The gold-in-soil anomaly represented for the Gbarpolu property were delineated using the 95 th percentile of the samples' Au grade population (Au >20ppb).
Qualified Person's Statement
Scientific or technical information in this news release that relates to the Company's exploration activities in Liberia is based on information compiled or approved by John Mpambije. John Mpambije is an employee of Sarama Resources Ltd and is a Chartered Professional member in good standing of the Australasian Institute of Mining and Metallurgy and has sufficient experience which is relevant to the commodity, style of mineralisation under consideration and activity which he is undertaking to qualify as a Qualified Person under National Instrument 43-101. John Mpambije consents to the inclusion in this news release of the information, in the form and context in which it appears.
SOURCE Sarama Resources Limited