VANCOUVER, CANADA. Sarama Resources Ltd. (“Sarama” or the “Company”) is pleased to announce a significant
increase in mineral resources for its 100%-owned(12) Sanutura Project (the “Project”) in south-west Burkina Faso. This
follows an updated interpretation and re-estimation of mineral resources at the Bondi Deposit, located to the north of
the Project’s main Tankoro Deposit.
The Sanutura Project is an advanced-stage exploration project covering approximately 1,500km² (refer Figure 1) that
hosts a significant, well-defined mineral resource base and a suite of exploration targets.
The updated mineral resource estimate at the Project (refer Table 1) now stands at:
• 9.4Mt @ 1.9g/t Au for 0.6Moz gold (Indicated); plus
• 52.7Mt @ 1.4g/t Au for 2.3Moz gold (Inferred)(1).
This represents a significant increase over the 2020 mineral resource estimate of 0.6Moz Au (Indicated) and 1.9Moz Au
(Inferred)(2) (refer Appendix B) and highlights the scale of the Project and the valuable contribution of the Bondi Deposit.
The combined oxide and transition component of the mineral resource now totals 0.2Moz gold (indicated) plus 0.8Moz
gold (inferred)(4)
, illustrating the ability to provide early plant feed to support a potential staged mine development.
Re-interpretation and improved modelling of the Bondi Deposit has identified several higher-grade shoots within the
mineral resource and will greatly assist in exploration targeting. This, combined with compelling regional targets at the
Zanawa and Malbus Prospects are expected to deliver further increases to the mineral resource base.
Highlights
• Project mineral resources of 0.6Moz gold (indicated) plus 2.3Moz gold (inferred)(1) (pit shell and underground
blockout constrained)
• Significant amount of higher-grade material of 6.3Mt @ 2.5g/t Au for 0.5Moz Au (Indicated) plus 29.8Mt @
1.9g/t Au for 1.8Moz Au (Inferred)(3) contained within the mineral resource
• Oxide and transition material increased to 0.2Moz Au (Indicated) and 0.8Moz Au (Inferred)(4,5) (~33% of the total
mineral resource)
• Free-milling component of mineral resource increased to 0.2Moz (indicated) plus 1.1Moz Au (Inferred)(6) (~44%
of the total mineral resource) which has the potential to provide early feed for a multi-stage mine development
• Approximately 20% of the mineral resource is ‘indicated’ classification at an elevated grade of 1.9g/t Au,
reflecting higher geological confidence in higher-grade zones
• Approximately 70% of the defined mineral resource for the Bondi Deposit is situated within 80m from surface
• Project mineral resources now include the Bondi Deposit – 9.2Mt @ 1.5g/t Au for 0.5Moz Au (Inferred)(7)
following an extensive re-interpretation and updated estimate
• Metallurgical testwork demonstrates gold recoveries of +90% for all material types across the Sanutura ProjectSarama’s President and CEO, Andrew Dinning commented:
“We are very pleased with the significant increase to the mineral resource estimate for Sarama’s 100%-owned Sanutura
Project. This resource update marks the completion of a significant amount of technical work on historical exploration
data and gives clear direction for future exploration where the Company is seeking to materially increase the Project’s
mineral resource.
The inclusion of the Bondi Deposit to the Project’s mineral resource base provides a significant increase in high-grade,
free-milling material and has the potential to materially improve start-up economics for the Project. In addition, the
overall increase in the oxide and free-milling component to 0.2Moz Au (Indicated) plus 1.1Moz Au (Inferred)(6) has a
material impact on the project development picture and our next key step will be to pursue the compelling exploration
targets we have identified across the Project. These targets(8,9,10), when combined with the current mineral resources,
give us an exploration target in excess of 3-3.5 million ounces of gold.
The Project is being positioned as a long-life, multi-stage asset that can be built and paid for well before we have
exploited the oxide resource and one which provides significant optionality and leverage to the gold price and remains
key to the development of the southern Houndé Belt.”
Mineral Resource Estimate
The independent mineral resource estimate for Sarama’s 100%-owned Sanutura Project was undertaken by Cube
Consulting Pty Ltd (Perth, Western Australia) and features an extensive update to the interpretation and estimation of
mineral resources at the Bondi Deposit, a key component of the Project. The update incorporates data from all
exploration activities at the deposit, which have occurred over the period 2003 - 2018.
The updated mineral resource for the Sanutura Project is:
• 9.4Mt @ 1.9g/t Au for 0.6Moz gold (Indicated); plus
• 52.7Mt @ 1.4g/t Au for 2.3Moz gold (Inferred)(1).
This is comprised of mineral resources for the Tankoro Deposit of 9.4Mt @ 1.9g/t Au for 0.6Moz Au (Indicated) and
43.6Mt @ 1.4g/t Au for 1.9Moz (Inferred) and the Bondi Deposit of 9.2Mt @ 1.5g/t Au for 0.5Moz (Inferred) (refer
Appendix A, Table A1).
Table 1 summarises the updated mineral resource for the Project and Appendix A contains detailed breakdowns as well
as notes outlining the methodology used for interpretation, estimation and classification.
The mineral resource features a higher-grade component of 6.3Mt @ 2.5g/t Au for 0.5Moz Au (Indicated) plus 29.8Mt
@ 1.9g/t Au for 1.8Moz Au (Inferred)(3) which reflects the presence of numerous higher-grade zones within the
mineralised systems. These zones are typically located in areas of structural complexity with an associated increase in
the volume of the package of stacked lodes, which the Company would seek to leverage to provide early plant feed in
a potential mine development. Figure 4 illustrates the core areas of the MM and MC Prospects at the Tankoro Deposit
which feature higher-grade mineralisation in structurally complex settings.
An increase in the oxide and transition components of the mineral resource to 3.2Mt @ 1.6g/t Au for 0.2Moz Au
(Indicated) plus 23.4Mt @ 1.1g/t Au for 0.8Moz Au (Inferred)(4,5) has been delivered by the update and Sarama will
specifically target this type of material in future drilling programs to provide early plant feed for a potential staged mine
development.
Significant quantities of modelled mineralisation remain unclassified and the subject of future drilling campaigns with the intent of converting into mineral resources.
see & read more on
https://saramaresources.com/wp-admin/admin-ajax.php?juwpfisadmin=false&action=wpfd&task=file.download&wpfd_category_id=7&wpfd_file_id=1892&preview=1