Mr. Don Dudek reports
SAVARY GOLD CONTINUES TO OBTAIN ENCOURAGING DRILL RESULTS AT THE KARANKASSO JV PROJECT, BURKINA FASO
Savary Gold Corp. has intersected additional wide zones of gold mineralization at its Karangosso zone. The Karangosso zone has returned the best intercepts to date at 3.33 grams per tonne (g/t) gold over 41 metres (Savary Gold new release dated June 15, 2015). The Karangosso zone is one of several zones defined along an approximately 45-kilometre-long corridor of gold enrichment.
During the 2015 spring drill program Savary completed 26 reverse circulation holes totalling 3,504 metres over the Karangosso zone at its Karankasso joint venture project in Burkina Faso, owned 65 per cent by Savary and 35 per cent by Sarama Resources Ltd. This release presents the results of the remaining 14 holes that were drilled along with the results of the initial 12 holes that were released on June 15, 2015. Highlight intercepts, for the Karangosso zone are presented below:
-
0.90 g/t gold over 44 metres in hole 15-110;
- 12.71 g/t gold over two metres at end of hole 15-110;
- 0.87 g/t gold over 30 metres in hole 15-96;
- 0.88 g/t gold over 19 metres in hole 15-98;
- 3.33 g/t gold over 41 metres in hole 15-43(i);
- 2.02 g/t gold over 11 metres in hole 15-44(i);
- 6.61 g/t gold over 10 metres in hole 15-50(i);
- 2.30 g/t gold over nine metres in hole 15-50(i);
- 1.97 g/t gold over eight metres in hole 15-51(i);
- 1.94 g/t gold over 11 metres in hole 15-51(i);
- 1.79 g/t gold over 10 metres in hole 15-76(i).
Note
(i) Previously reported intercept.
Don Dudek, Savary's president and chief executive officer, commented: "We continue to receive encouraging results from the Karangosso zone which is still open in all directions. In management's opinion, the setting, style and potential for grades greater than two g/t gold continue to support the belief that the Karangosso zone could be a centre-of-gravity deposit for the Karankasso project. Our southernmost modelled hole intersected 0.77 g/t gold over 26.1 metres and our northernmost hole on the zone, 900 metres to the north, intersected 0.87 g/t gold over 30 metres. As well, drilling has returned intercepts of 6.61 g/t gold over 10 metres, within approximately 80 metres of surface, that we have tested below. In summary, the Karangosso zone mineralized system appears to have a lot more room to grow."
The Karankasso property is located approximately 300 kilometres southwest of Ouagadougou, Burkina Faso's capital city, and 60 kilometres east of Bobo Dioulasso, the second-largest city in Burkina Faso. The property can be accessed by a paved highway with both rail and grid power coming within approximately 65 kilometres of the property.
During the period from April 21, 2015, to June 30, 2015, Savary and Sarama completed approximately 15,515 metres of drilling in 115 reverse circulation holes on the property.
The Karangosso zone was initially discovered in 2013 when a reverse circulation drill hole, testing a gold-in-soil anomaly, returned an intercept of 10.14 g/t gold over 10 metres. Subsequent drilling in 2014 returned up to 2.97 g/t gold over 27 metres and extended the gold-bearing portion of the altered alkaline granite for 800 metres along strike. Drilling in 2015 was primarily designed to complete enough drilling to define a resource, as the previous holes were spaced on fences 200 metres apart. As well, holes were drilled along strike with a goal to extend the strike length of the zone. Mineralization has been intersected for a distance of approximately 1,400 metres along strike with zone modelling completed along 900 metres of strike to a maximum depth of approximately 150 metres. The modelled zones, A through D, appear to be open along strike and to depth with width and mineralization grades, apparently increasing at depth in several areas. It is likely that the D zone extends to the north, just west of the collars of holes 15-113 and 15-114, since the only gold-bearing mineralization was only intersected at the top of the holes. Further, mapping indicates that the host intrusion likely extends for at least another 1,000 metres to the north-northeast.
The Karangosso zone is hosted by a pinkish potassic granitic rock that when altered becomes grey in colour, silicified, sericitic, carbonate bearing and weakly to moderately pyritic. Gold values are related to pyritic quartz vein zones with traces of tourmaline. Left-lateral-sheared silicified, well-layered, sedimentary rocks, with a moderate north-northeast plunge, lie to the east of the host felsic intrusion, and well foliated to sheared intermediate volcanic rock lie immediately to the west of the host felsic intrusion. A silicified, manganese-enriched sedimentary unit located 500 metres to the east that can be traced for approximately 2.6 kilometres, provides a good regional marker horizon. For reference, Endeavour's Vindaloo zone on the Hounde property, is 300 metres west of a similar-character manganese-enriched marker horizon.
More drill testing is required along strike to the north and to the south, where the zone appears to be open. As well, some deeper, likely core holes, will be required as the good grades persist and locally increase to depth with one hole, 15-110 returning 12.71 g/t gold over two metres, at the end of the hole. During the recent program, the RC drill had difficulties, due to water, to drill below 100 metres vertically. Mapping and additional IP geophysical surveys should also be carried out over the inferred strike extent of the mineralized intrusion, especially to the north, where another larger artisanal mining area, 2,000 metres to the north, has not been examined.
Timed, bottle roll metallurgical tests were completed over two gold-mineralized, fresh rock samples from the Karangosso zone in 2014. This work indicated an average gold recovery, for the two samples, of 87.2 per cent (see Savary news release dated Aug. 21, 2014).
Results for drilling on the other targets that were drilled during this program will be presented over the next month.
QA/QC (quality assurance/quality control) comments
Savary's procedures for handling reverse circulation drill chips comprise initial riffle splitting of the rock chips from one-metre drill length samples into approximately 2.5-kilogram samples, as well as description and logging into a database. A duplicate 2.5-kilogram sample, prepared at the same time as the assay sample, is kept as a reference for each sample. Assay standards, sample duplicates and assay blanks were inserted sequentially every 14 samples resulting in an assay standard inserted every 42 samples. This sampling procedure was periodically reviewed by Savary's president and chief executive officer, and the company qualified person, Don Dudek, PGeo. All assay samples were collected at site by SGS Laboratory or Actlabs staff from Ouagadougou, Burkina Faso. Sample preparation and fire assays were performed by SGS Laboratories and Actlabs, both based in Ouagadougou. Each sample was dried, crushed to 85 per cent passing two millimetres and then split to 1.5 kg by riffle splitter. The 1.5 kg, two mm split was pulverized to 95 per cent passing 106 mm. Fifty grams of the pulverized material was analyzed for gold via fire assay with an atomic absorption spectroscopy (AAS) finish. SGS Burkina Faso SA operates according to ISO 17025 standards and institutes a full quality assurance/quality control (QA/QC) program consisting of insertion of blanks, standard reference material, repeats and reject splits which in total account for up to 25 per cent of all determinations conducted.
Qualified person
Don Dudek, PGeo, president and chief executive officer of the company and a qualified person under National Instrument 43-101, has reviewed and approved the scientific and technical information in this press release.
2015 RESULTS SUMMARY -- KARANGOSSO ZONE
Hole From Width
(m) To (m) (m)(iii) Au g/t
HS-RC-15-79 NSV(ii)
HS-RC-15-80 76 77 1 0.86
HS-RC-15-81 34 42 8 0.51
incl 35 37 2 1.49
HS-RC-15-82 NSV(ii)
HS-RC-15-94 NSV(ii)
HS-RC-15-95 4 12 8 0.87
HS-RC-15-95 14 15 1 0.88
HS-RC-15-95 107 108 1 1.50
HS-RC-15-95 115 118 3 1.03
HS-RC-15-95 144 145 1 1.27
HS-RC-15-96 31 32 1 0.62
HS-RC-15-96 70 101 30 0.87
incl 75 88 12 1.58
incl 95 101 6 0.76
HS-RC-15-97 29 30 1 0.94
HS-RC-15-97 38 40 1 1.19
HS-RC-15-97 50 63 13 0.38
incl 51 53 2 1.39
HS-RC-15-98 139 158 19 0.88
incl 139 144 5 1.30
HS-RC-15-110 85 86 1 0.76
HS-RC-15-110 105 149 45 0.90
incl 105 108 3 1.71
incl 113 114 1 1.15
incl 128 138 11 1.71
incl 144 149 5 1.49
HS-RC-15-110 155 157 2 12.71
HS-RC-15-111 65 67 2 1.06
HS-RC-15-111 85 100 15 0.46
HS-RC-15-111 123 124 1 1.05
HS-RC-15-112 14 15 1 0.61
HS-RC-15-112 89 99 10 0.63
HS-RC-15-112 105 106 1 0.71
HS-RC-15-113 5 7 2 0.55
HS-RC-15-114 8 9 1 0.35
HS-RC-15-115 2 10 8 0.17
HS-RC-15-115 51 53 2 3.99
HS-RC-15-115 65 67 2 0.73
HS-RC-15-43(i) 33 34 1 0.98
HS-RC-15-43(i) 40 81 41 3.33
HS-RC-15-43(i) 94 95 1 1.30
HS-RC-15-44(i) 1 12 11 2.02
HS-RC-15-44(i) 27 29 2 1.42
HS-RC-15-44(i) 74 76 2 0.65
HS-RC-15-45(i) NSV(ii)
HS-RC-15-46(i) 54 55 1 0.87
HS-RC-15-46(i) 61 62 1 1.89
HS-RC-15-46(i) 115 116 1 0.75
HS-RC-15-47(i) 112 114 2 1.54
HS-RC-15-47(i) 135 136 1 0.70
HS-RC-15-48(i) NSV(ii)
HS-RC-15-49(i) 146 147 1 0.61
HS-RC-15-50(i) 76 78 2 0.49
HS-RC-15-50(i) 91 96 5 1.72
HS-RC-15-50(i) 100 110 10 6.61
HS-RC-15-50(i) 112 113 1 1.05
HS-RC-15-50(i) 127 129 2 2.39
HS-RC-15-50(i) 137 139 2 0.60
HS-RC-15-50(i) 144 153 9 2.30
HS-RC-15-50(i) 158 160 2 0.70
HS-RC-15-51(i) 2 10 8 1.97
HS-RC-15-51(i) 17 28 11 1.94
HS-RC-15-51(i) 30 31 1 1.09
HS-RC-15-51(i) 94 95 1 2.09
HS-RC-15-51(i) 111 112 1 0.65
HS-RC-15-51(i) 129 131 2 1.63
HS-RC-15-76(i) 39 49 10 1.79
HS-RC-15-76(i) 77 80 3 1.81
HS-RC-15-76(i) 119 120 1 1.42
HS-RC-15-77(i) 18 23 5 1.04
HS-RC-15-77(i) 60 62 2 1.69
HS-RC-15-77(i) 102 103 1 1.26
HS-RC-15-78(i) 51 52 1 0.98
HS-RC-15-78(i) 112 115 3 0.84
HS-RC-15-78(i) 124 126 2 0.98
HS-RC-15-78(i) 128 130 2 2.94
HS-RC-15-78(i) 136 138 2 1.53
Notes
(i) Previously released drill intercepts.
(ii) No significant values.
(iii) True widths are estimated at 70 per cent of drilled
length for the Karangosso zone tables presents all composite
assays values returning greater than 0.5 g/t gold over one
metre and those holes where no assays greater than 0.5 g/t
gold over one metre were received.
We seek Safe Harbor.
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