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Last C$0.08 CAD
Change Today +0.005 / 7.14%
Volume 25.5K
As of 12:01 PM 10/2/15 All times are local (Market data is delayed by at least 15 minutes).

sarama resources ltd (SWA) Snapshot

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sarama resources ltd (SWA) Details

Sarama Resources Limited, an exploration stage company, is engaged in the exploration and development of gold deposits in west Africa. As of March 31, 2014, the company had exploration landholdings consisting of in 2,867 square kilometers in Burkina Faso, 883 square kilometers in Liberia, and 146 square kilometers in Mali. Its principal property is the South Houndé Project that covers an area of approximately 1,000 square kilometers and is located in south-west Burkina Faso. The company was founded in 2010 and is based in Subiaco, Australia.

Founded in 2010

sarama resources ltd (SWA) Top Compensated Officers

Chief Executive Officer, President, Director ...
Total Annual Compensation: $248.1K
Founder and Vice President of Exploration
Total Annual Compensation: $203.7K
Chief Financial Officer and Secretary
Total Annual Compensation: $203.0K
Vice President of Corporate Development
Total Annual Compensation: $203.0K
Compensation as of Fiscal Year 2014.

sarama resources ltd (SWA) Key Developments

Sarama Resources' Oxide-Focused Drilling Confirms 10.2km-Long Mineralised Horizon at the South Houndé Project in Burkina Faso

Sarama Resources Ltd. reported that follow-up, oxide-focused drilling has extended the strike length of semi-continuous mineralisation along the main horizon at the South Houndé Project to 10.2km. The drill program built upon previous exploration results and was primarily designed to infill large gaps in drilling along the highly prospective trend. A USD 3.5 million, multi-faceted exploration program is ongoing (90% complete) at the Project which is subject to an earn-in agreement between Sarama and Acacia Mining plc. The Project's mineral resource currently stands at 1.5 Moz of contained gold, a majority of which is delineated at the MM and MC Prospects and hosted within a regional-scale structural-magmatic zone informally known as the Tankoro Structural Corridor. Successive drilling programs, testing targets generated by soil geochemistry and geophysical surveys have defined two extensive parallel horizons of semi-continuous mineralisation, broadly defining the western and eastern boundaries of the trend. A drill program, focussed on shallow oxide targets and comprising 4,700m AC and 1,200m RC, was conducted during Second Quarter 2015. The program targeted strike extensions to existing lodes within the main mineralised horizon at the Obi, MM and Phantom group of prospects. A 900m-long information gap at the Obi Prospect was the primary focus of the program, however several other areas spanning 200-500m along strike were investigated at the Phantom group of prospects. Highlighted downhole intersections from the portion of the program at the Obi Prospect include 18m @ 2.20g/t Au from 25m in AC2066; 15m @ 1.52g/t Au from 12m in AC2070; 17m @ 1.22g/t Au from 5m in AC2059; and 13m @ 1.07g/t Au from surface in AC2068. The drilling at the Phantom group of prospects returned downhole intersection highlights of 5m @ 6.78g/t Au from 47m in AC2166; 8m @ 3.49g/t Au from 69m in AC217; 9m @ 1.64g/t Au from 23m in AC2124; and 16m @ 1.17g/t Au from 55m in FRC911. RC holes were drilled on selected fences to test down- dip extensions and returned encouraging fresh rock intersections including 22m @ 1.69g/t Au from 55m in FRC913. The drill program confirmed the continuity of oxide mineralisation in the large drilling gap at the Obi Prospect and has extended the overall strike length of semi-continuous mineralisation along the horizon to 10.2km. This complements the eastern mineralised horizon of the trend which was extended to 5.6km by recent drilling. Several oxide-hosted zones of economic interest at both the Obi and Phantom group of prospects have also been identified as a result of the recent drilling, with the lodes containing discrete zones of higher-grade mineralisation, as is observed in other well-drilled areas of the mineralised system.

Sarama Provides Update on Final Results from the Second Quarter of 2015 Karankasso JV Drilling Campaign in Burkina Faso

Sarama Resources Ltd. announced that Savary Gold Corp., the operator of the Karankasso Project Joint Venture between Sarama and Savary, provided an update on September 3, 2015 of the final drill results from the second quarter 2015 drilling campaign. The drilling was undertaken across five target zones within the 47km-long mineralised corridor situated in the Karankasso Project area. 42 reverse-circulation holes totaling 3,240m were drilled across five zones within 35km of trend. Four zones returned significant results including: RC hole 15-29 - 10m @ 1.33g/t gold from 104m - Kueredougou North Zone, RC hole 15-33 - 4m @ 2.72g/t gold from 70m - Koure East Sulphide Zone, RC hole 15-55 - 7m @ 2.00g/t gold from 44m - Sérakoro 1 West Zone, RC hole 15-88 - 13m @ 2.09g/t gold from 100m - Kueredougou West Zone, RC hole 15-89 - 5m @ 1.88g/t gold from 37m - Kueredougou West/Untested Zone, RC hole 15-90 - 8m @ 1.23g/t gold from 61m - Kueredougou West/Untested Zone. Savary stated encouraging results were returned along a 2,000m trend at the Kueredougou West and Kueredougou Untested area.

Sarama Resources Ltd. Reports Follow-Up Drilling at the MC and Kenobi Prospects

Sarama Resources Ltd. reported that follow-up drilling at the MC and Kenobi Prospects has returned additional, predominantly oxide gold intersections and confirmed the presence of a semi-continuous eastern mineralized horizon measuring 5.6km in length. The drill program built upon previous exploration programs at the South Hound Project and further illustrates the exploration potential of the Tankoro Structural Corridor. A $3.5 million multi-faceted exploration program is ongoing (90% complete) at the Project which is subject to an earn-in agreement between Sarama and Acacia Mining plc. Drilling confirms the presence of a 5.6km-long semi-continuous mineralized horizon, located approximately 800m east of the well-defined 9.8km-long parallel trend hosting the bulk of the Project's mineral resource; Mineralization occurs as stacked lode sequences at both the MC and Kenobi Prospects, with individual sequences measuring between 900m and 2.2km in strike length; Drilling was focussed on open-pittable, oxide mineralization that is anticipated to be amenable to heap leaching and comprised 5,300m air-core and 2,100m reverse-circulation drilling; Further exploration will be conducted along the trend, targeting 'drilling gaps' and working towards understanding the geological controls on higher-grade and broad zones of mineralization; $3.5 million (CAD 4.7 million) exploration program is budgeted for 2015 including geochemical and geophysical surveys and drill programs. The Project's mineral resource currently stands at 1.5 Moz1,2 of contained gold, a majority of which is delineated at the MM and MC Prospects and hosted within a regional-scale structural-magmatic zone informally known as the Tankoro Structural Corridor. The area to the south of the defined mineral resources at the MC Prospect has only been lightly explored, with activities limited to regional scout drilling and ground-based geophysical and geochemical programs. A drill program comprising 5,300m AC and 2,100m RC, and focused on shallow oxide targets, was conducted during second quarter of 2015. The drill program was designed to build upon encouraging reconnaissance drill results in areas interpreted to be structural extensions to mineralized zones previously identified by drilling at the MC Prospect, which hosts 20% of the Project's mineral resources. The main focus areas were two discrete zones within the Kenobi and MC Prospects, measuring 2km and 900m strike length, respectively. Other confirmatory-type targets were also tested at the MC Prospect.


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