TORONTO, ONTARIO–(Marketwired – Aug. 27, 2015) – Savary Gold Corp. (TSX VENTURE:SCA) (“Savary” or the “Company”) is pleased to announce the results of a Q2, 2015 drill program at its Kien East Zone. The recent holes returned an intercept of 2.55 g/t gold over 18 metres (9 metres true width), which surpassed the previous best in the zone which had returned 2.00 g/t gold over 21 metres (Savary Gold news release of April 30, 2013). The Kien East Zone is the northern-most area of gold mineralization defined along an approximately 45 kilometre long corridor of gold enrichment (Savary news release of December 15, 2014).
During the 2015 spring drill program Savary completed 30 reverse circulation holes totalling 4,101 metres over the Kien East Zone at its Karankasso Joint Venture Project in Burkina Faso, owned 65% by Savary and 35% by Sarama Resources Ltd. (“Sarama”). This release presents the results of all of the holes drilled in 2015. Highlight 2015 drill intercepts for the Kien East Zone are presented below:
- 2.84 g/t gold over 8 metres in hole 15-02
- 2.55 g/t gold over 18 metres in hole 15-03
- 0.70 g/t gold over 21 metres in hole 15-04
- 1.84 g/t gold over 8 metres in hole 15-63
- 1.52 g/t gold over 9 metres in hole 15-63
- 1.58 g/t gold over 6 metres in hole 15-64
- 1.49 g/t gold over 12 metres in hole 15-65
- 0.95 g/t gold over 13 metres in hole 15-67
Don Dudek, Savary’s President and CEO commented: “Savary’s 2015 drill program was successful in extending the gold mineralized zones both along strike and to depth, documenting the presence of a large, robust alteration system associated with the gold mineralization and radically changing the orientation of most of the mineralized zones. The discovery of shallow-dipping stacked lenses improves the open pit potential of the zones and the locally higher grades provide exploration encouragement.”
The Karankasso Property (the “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 14,515 metres of drilling in 115 reverse circulation holes on the Property.
The Kien East Zone lies near the northern part of the Property and straddles the highway that has a direct link to Bobo Dioulasso. Drilling has returned higher grade intercepts of 8.90 g/t gold over 3.9 metres to wider sections of mineralization grading up to 2.55 g/t gold over 18 metres. Drill holes at Kien East have intersected at least fourteen, modelled, northerly- to northeast-trending, steeply- to shallow-dipping, stacked lenses of gold mineralization along an open ended 3.2 kilometre strike length (see Figure 1). Prior to this program the gold system had been traced for 2,000 metres along strike. It is anticipated that steeply-dipping gold zones can be extended further northeast along strike and down-dip and that the shallow-dipping gold zones can be extended to the south and down-dip. Gold-bearing mineralization is widespread, focussed at unit contacts, hosted by multiple rock types and associated with sericite-, quartz-, pyrite- and locally fuchsite-alteration.
The steeply dipping mineralization is associated with a northeast-trending, andesitic volcanics to dioritic intrusions that are sheared and altered. Up to four, near vertical dipping lenses have been defined with one of the lenses demonstrating reasonably good continuity along strike. Gold values are generally modest in grade ranging from 0.6 to 1.4 g/t gold in the assay composites.
The shallow-east-dipping mineralization (zones KA1, KA-KG – see table at end) is related to shears hosted predominantly by a feldspar porphyritic diorite intrusion. The 15 to 30 degree east-dipping zones lie in a 600 metre by 300 metre area (Kien Flats area in Figure 1) where the mineralized structures rotate from predominantly northerly- trending to northeast trending. This zone of nine, modelled stacked lenses is open to the south, down dip to the east and to a lesser extent, to the north. As interpreted, most intercepts are close to true thickness with the exception of the hole 15-03 intercept of 2.55 g/t gold over 18 metres which is interpreted to have a true thickness of approximately nine metres. Overall, the weighted average grade of the flat-lying zones ranges from 1.3 to 1.5 g/t gold with true widths ranging from less than a metre to approximately 19 metres.
Future work will focus on tracing the mineralized zones to the northeast along the trend of the geophysical anomaly and extending the shallow-dipping mineralization down dip, down plunge and to the south.
To view “Figure 1: Kien East Zone – Surface Plan and Assay Summary”, please visit the following link: http://media3.marketwire.com/docs/1022685figure1.jpg
A summary of all assay composites, using a cut-off of 0.5 g/t gold, from all of the 2015 holes, is presented in Table 1.
Timed, bottle roll metallurgical tests were completed for four, gold-mineralized, fresh rock samples from the Kien East Zone in 2014. This work indicated an average gold recovery, for the four samples, of 95.4% (see Savary news release of August 21, 2014).
Results for drilling on the other targets that were drilled during this program will be presented over the next month.
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 CEO, and the Company QP, Don Dudek, P. Geo. All assay samples were collected at site by SGS Laboratory staff from Ouagadougou, Burkina Faso. Sample preparation and fire assays were performed by SGS Laboratories based in Ouagadougou. Each sample was dried, crushed to 85% passing 2mm and then split to 1.5 kg by riffle splitter. The 1.5 kg, 2 mm split was pulverized to 95% passing 106mm. Fifty grams of the pulverized material was analysed 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% of all determinations conducted.
About Savary Gold
Savary Gold, a Canadian exploration company, along with partner, Sarama Resources Limited, are focused on exploring the 750 km2 Karankasso Property in Burkina Faso. The Properties is in the Birimian age Houndé Greenstone Belt, which hosts Semafo’s Mana mine and additional gold deposits that are presently subject to extensive exploration efforts (including Endeavour Mining’s Houndé Project, Roxgold’s Yaramoko Project and Sarama’s/Acacia’s South Houndé JV Project, which is adjacent to the Karankasso JV property). For additional information please visit our website at www.savarygold.com.
Don Dudek, P.Geo., President and CEO 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.
SAVARY GOLD CORP.
On behalf of the Board,
Don Dudek, President & Chief Executive Officer
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain forward-looking statements. These statements include statements regarding the details of the drill program, the company’s exploration plans, the focus on existing drill targets, potential extensions to the gold zones and new targets. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statements or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not assume any obligation to update any forward-looking statements, except as required by applicable laws.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “1933 Act”), or any state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of U.S. persons (as defined in Regulation S under the 1933 Act) absent such registration or an applicable exemption from such registration requirements.
|Table 1 – 2015 Results Summary – Kien East Zone|
|* No Significant Values.|
|** True widths are estimated at 50% to 100% of drilled length at the Kien East Zone. This Table presents all composite assay values returning greater than 0.5 g/t gold over 1 metre and those holes where no assays greater than 0.5 g/t gold over 1 metre were received.|
|1KS is equivalent to Shear Zone on figure 1|