This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Sarama Defines 11km-Long Gold-in-Soil Anomaly At Its Gbarpolu Property In Liberia & Increases Its Interest In Pedsam Properties To 65%

Andrew Dinning or Paul Schmiede email:   info@saramaresources.com telephone: +61 8 9363 7600

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

About Sarama Resources Ltd

Sarama Resources Ltd is a Canadian company with a focus on the exploration and development of gold deposits in West Africa.  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 Africa.

The South Houndé Project in south-west Burkina Faso 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 Burkina Faso (~3,100 km²), Liberia (~2,400 km²) and Mali (~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

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
3 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,461.32 -153.49 -0.92%
S&P 500 1,927.11 -14.17 -0.73%
NASDAQ 4,382.8470 -36.6310 -0.83%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs