AMN - BURKINA FASO: South Houndé drilling completed

Sarama Resources has successfully completed an oxide focused drill program at the South Houndé Gold Project in Burkina Faso. The drilling is expected to add to the oxide component of the project’s current 2.1-million-ounce gold resource.

This program marks the resumption of management and control of the project by Sarama and the recommencement of active exploration and development activities on the project following a hiatus of about 1.5 years.

The exploration program was designed to increase the oxide and free-milling mineral resource base that totals about 600,000 ounces with oxide and transition components.

The drill program totalled 7,900 metres of aircore drilling in 140 holes and targeted oxide mineralisation in the south of the project and along strike from the current mineral resource.

Drilling primarily focused on the southern portion of the main mineralised corridor at the Obi, Kenobi, Djimbake and Ben prospects where historical reconnaissance drilling returned encouraging oxide-gold intersections.

A minor amount of infill and validation drilling was also undertaken at the MC and MM prospects in order to confirm the geometry of the mineralised lodes at these prospect areas.

Sarama’s objective is to grow the combined oxide mineral resource base at the South Houndé and ThreeBee projects to a level that will support the development of a staged, low capital and rapid pay-back project which initially exploits the oxide and then free-milling components of the mineral resources at both projects.

Sarama’s president and CEO Andrew Dinning said: “We remain optimistic that the drilling in the southern part of the mineralised corridor will yield additions to the existing 600,000-ounce oxide and transitional component of the project’s mineral resource and will lead to the development of new exploration targets.

"This drilling forms part of our strategy of defining an oxide resource across our two southern Houndé Belt projects that when combined with our high-grade free-milling resources will present a financeable and highly attractive development opportunity.

"The southern Houndé Belt continues to demonstrate its prospectivity and to yield new discoveries including Teranga Gold’s neighbouring Golden Hill Project where a 27,000-metres drill program is underway, and SEMAFO’s new Bantou North discovery adjacent to our South Houndé project where it is planning to spend US$11 million on exploration in 2019."

Sarama Resources is a West African focused gold explorer and developer with substantial landholdings in Burkina Faso. Sarama is focused on consolidating under-explored landholdings in Burkina Faso and advancing its key projects towards development.

www.saramaresources.com