R/€ = 15.82 Change: 0.05
R/$ = 13.26 Change: 0.03
Au 1297.29 $/oz Change: 2.55
Pt 933.00 $/oz Change: 0.00
 
 
R/€ = 15.82 Change: 0.05
R/$ = 13.26 Change: 0.03
Au 1297.29 $/oz Change: 2.55
Pt 933.00 $/oz Change: 0.00
 
 
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First round of drilling on Sarama’s strategic Bondi asset finds shallow, oxide gold ore

13th September 2017 BY: Henry Lazenby
Creamer Media Deputy Editor: North America

VANCOUVER (miningweekly.com) – Canadian explorer Sarama Resources' first reconnaissance aircore drilling campaign at the company's newly acquired Bondi deposit has intersected shallow, oxide gold mineralisation over broad intervals about 4 km north-east of the historic resource on the property, the company announced on Tuesday.

Located in the highly prospective southern Houndé belt, which is an area where Sarama has had significant exploration success and controls a large land position with significant interests in three advanced gold exploration projects, the Bondi deposit is of high strategic value, making it the key component of the company’s 100%-owned ThreeBee (Bondi/Botoro/Bamako) project.

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The 82 step-out drill results totalling 2 800 m of aircore drilling demonstrate the potential to add mineral resources to the project, building on the existing historical estimate of mineral resources for the Bondi deposit, the company advised. The results underscore the value of the property in the development of the southern Houndé belt, with new gold discoveries potentially being highly accretive to various development scenarios being contemplated.

“The intersection of broad oxide mineralisation in areas away from the Bondi deposit provides substantial encouragement that further exploration will add to the historical estimate mineral resources of the deposit and we look forward to conducting more extensive follow-up programmes next exploration season. We are pleased to own 100% of the property, particularly given that the Bondi deposit has the potential to deliver high margin ounces and that our first drill programme has demonstrated that exploration opportunity remains,” said Sarama president and CEO Andrew Dinning in a statement.

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The company said several holes ended in mineralisation, indicating potential for further mineralisation below drilled horizon. Mineralised intersections are close to contact zones between intrusive and mafic volcanic units, demonstrating potential for gold mineralisation in similar target areas elsewhere on the property.

Among the highlights of the drill programme intersections were DJA0061, which returned 8 m grading 1.5 g/t gold from surface (100% oxide); 27 m grading 1.07 g/t gold from surface in DJA0060 (100% oxide); 20 m grading 0.71 g/t gold from 4 m to 24 m in hole DJA0076 (100% oxide); and 10 m grading 1.47 g/t gold from 28 m to 38 m in DJA0076 (100% oxide). The results also showed 10 m grading 1.1 g/t gold from 10 m to 20 m in DJA0058 (90% oxide/10% transition); and 14 m grading 0.73 g/t gold from 2 m to 16 m in DJA0059 (86% oxide/14% transition).

Sarama said it would continue its two-pronged strategy of systematic regional exploration to discover new mineralisation and to validate the large amount of historical data concentrated in the Bondi deposit area, with a view to generate extended targets. 

EDITED BY: Samantha Herbst Creamer Media Deputy Editor
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