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Last C$0.08 CAD
Change Today +0.005 / 7.14%
Volume 198.0K
SWA On Other Exchanges
As of 12:46 PM 04/24/15 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: $265.4K
Founder and Vice President of Exploration
Total Annual Compensation: $218.5K
Chief Financial Officer and Secretary
Total Annual Compensation: $217.1K
Vice President of Corporate Development
Total Annual Compensation: $217.1K
Compensation as of Fiscal Year 2013.

sarama resources ltd (SWA) Key Developments

Sarama Resources Extends Mineralisation and Identifies Additional Structural Controls At the South Houndé Project in Burkina Faso

Sarama Resources Limited announced that drilling at the MC and MM Prospects has extended mineralisation along strike and down-dip and intersected high-grade oxide mineralisation that presents a new target for further exploration. The results represent the initial portion of a $3.5 million, multi-faceted exploration program (approximately 50% complete) at the South Houndé Project which is subject to an earn-in agreement between Sarama and Acacia Mining plc. Highlights include: MC Prospect continues to grow and new intersections confirm depth and strike extensions of existing mineral resource, demonstrating potential for further growth; Confirmation of high-grade easterly-trending oxide mineralisation at the MC Prospect and intersection of a new oxide zone presents additional exploration targets based on a new structural model; Intersections at the MM Prospect demonstrate that distinct high-grade lenses continue to depth within favourable intrusive host units; Mineralisation now extends to 260m and 400m vertical depth at the MC and MM Prospects, respectively, and remains open at depth and along strike. A total of 1,600m of diamond core, 700m of RC and 900m of AC drilling has been completed at the MC Prospect, focussed on the existing mineral resource area which hosts approximately 20% of the Project’s current mineral resource. The MC Prospect is a relatively new discovery, and the drill program has been designed to test down-dip extensions to the current mineral resource as well as to confirm the geometry of cross-cutting mineralised lodes. The diamond and RC drilling is located on 6 fences over a strike distance of 350m, oriented east-west and typically testing an area of 50- 100m down-dip of the known mineralisation. The drilling program has been successful in extending the mineralised system to a vertical depth of 260m and has better defined the orientation of mineralised structures. It is now apparent that at least two mineralised orientations are present; a set of north-north-east striking, west-dipping horizons that represent the main mineralised structural orientation, and a more easterly-oriented horizon that manifests as crossing structures. The intersections of these structures represent future exploration targets. The majority of reported drill holes intersected continuations of west-dipping mineralised zones with varying degrees of sericite alteration attesting to the strength of the hydrothermal fluid system over significant widths in preferential areas. Highlights of the diamond and RC drill program include: FRC873 (RC hole), which intersected oxide mineralisation including 8.0m @ 1.31g/t Au from 10.0m, 7.0m @ 1.16g/t Au from 22.0m and 34.0m @ 2.62g/t Au from 32.0m, confirming a previous AC intersection and indicating the presence of an anomalous zone requiring high priority follow-up drilling (section 1175625mN); FRC876 (RC hole), which intersected multiple lodes at shallow depths, including 10.0m @ 1.84g/t Au from 49.0m indicating potential for southerly extensions of the known oxide mineralisation (section 1175425mN); DDH061 (diamond hole), which intersected numerous mineralised zones, including 19.3m @ 2.22g/t Au from 260.3m, that is associated with a wide zone of sericite alteration indicating the presence of a strong fluid pathway (section 1175650mN); and; FRC836 (diamond hole), which intersected 7.4m @ 2.86g/t Au from 132.3m confirming continuity of mineralisation in both porphyry and bounding sedimentary rocks (section 1175900mN). The AC program was designed to confirm the orientation and geometry of easterly-striking high-grade oxide mineralisation which is oriented as a large pod with its long axis along the lines of previous drilling. Previously reported intersections, including 26.0m @ 6.90g/t Au from 22m (RC hole FRC845) and 36.0m @ 6.48g/t Au from 14.0m (diamond hole DDH059), were a high priority target for confirmation. The easterly-oriented interpretation has been verified by recent north-south oriented drilling, with intersections including 45.0m @ 3.88g/t Au from 6.0m in AC1891 and 12.0m @ 1.53g/t Au from 16.0m in AC1900. This is significant when considered in conjunction with the recent intersections in FRC873 which support the hypothesis of multiple high-grade easterly-striking lenses being present in oxide and fresh rock horizons. Further work is planned to improve understanding of the genesis and controls of these east-west oriented zones.

Sarama Resources Completes Initial Drill Program Under the Acacia Mining Agreement at The South Hounde Project in Burkina Faso

Sarama Resources Limited and Acacia Mining plc entered in to an Earn-In Agreement on Sarama's South Hounde Project in south west Burkina Faso in November 2014. Pursuant to this agreement, Sarama has commenced a multi-faceted exploration program with a budget funded by Acacia of USD 3.5 million (CAD 4.4 million) for the first year, which includes drilling as well as various geochemical and geophysical surveys. Results received to date are encouraging and continue to show potential to increase oxide mineral resources and further the understanding of high-grade zones encountered at the MM and MC Prospects. The results from the drill programs are currently being compiled and will be used to plan the next steps of the exploration program. Sarama has recently completed a multi-faceted drill program at its 100% owned1 South Hounde Project, which is the subject of an Agreement with Acacia where Sarama will be the operator until at least USD 7 million (CAD 8.8 million) has been expended on exploration, funded by Acacia. The program will continue throughout 2015 and is budgeted to cost approximately USD 3.5 million (CAD 4.4 million) and subject to results, nominally includes 15,000m of AC drilling, 6,000m of RC drilling, 5,500m of diamond drilling, 12,000m of auger drilling, a 9,200 line-km airborne geophysical survey and various geochemical, regolith and IP surveys. The initial diamond drilling program is focused on the further delineation of high-grade shoot controls at the MM and MC Prospects where previous drilling has demonstrated continuity to a depth of at least 280m. The initial RC drill program has been designed to test previously identified near-surface targets at the MM, MC and Phantom Prospects and the AC drill program is designed to test oxide targets to the north and south of the MM and MC Prospects in order to expand the present oxide component of the current mineral resource. An auger program has been planned to better define potential gold anomalism in the north-east of the project area where regolith complexity has presented challenges for conventional soil geochemistry surveys. The initial area to be investigated is where the controlling structure for mineralisation at Orezone Resources' Bondi Prospect (282,000 oz Au Measured and Indicated mineral resources at 2.1g/t Au and 149,700 oz Au Inferred mineral resource at 1.8g/t Au2) projects southward into the South Hounde Project area. A previous 9km-long, gradient-array IP survey along the Tankoro Structural Corridor that produced numerous, coincident chargeability and resistive anomalies has been extended northward. Initial drill results in this extension area indicate the continuance of gold mineralization providing potential to add further oxide resources. In addition to the gradient-array survey, eight pole-dipole fences have been completed across the MM and MC Prospects to better delineate the geometry of the high-grade shoots as they plunge to depth. An airborne magnetic and radiometric survey is currently being undertaken to better understand the litho-structural setting of gold mineralization across the Tyikoro Property in the central part of the Project will be the subject of initial prospecting activities consisting of soil geochemical and regolith surveys.

Sarama Resources Limited Presents at GMP Jamboree Conference, Feb-07-2015 02:00 PM

Sarama Resources Limited Presents at GMP Jamboree Conference, Feb-07-2015 02:00 PM. Venue: Arabella Resort & Spa, Hermanus, South Africa.


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