Savary Gold Provides Exploration and Operations Update
2014年1月20日 - 8:00PM
Marketwired Canada
SAVARY GOLD CORP. ("Savary" or the "Company") (TSX VENTURE:SCA) today provides
an update on its Hounde South property, located in south-western Burkina Faso.
Exploration has returned economic grade intercepts from each of the four areas
that have been drilled as highlighted below (also see figure):
-- Karangosso - 10.14 g/t Au over 10.0 metres and 5.82 g/t Au over 8.0
metres
-- Kien - 7.36 g/t Au over 8.0 metres and 2.00 g/t over 21.0 metres
-- Kueredougou - 21.13 g/t Au over 3.9 metres(i)
-- Diosso South - 3.44 g/t Au over 14.0 metres(i)
(i) Avion Gold Corporation news release January 26, 2010
The gold zones in each of these areas are open both along strike and to depth.
An updated table presenting the results of the 2013 drill program is attached at
the end of this release.
Don Dudek, President and CEO states, "My recent visit to the site has reaffirmed
my belief that Savary's property displays potential for better than average
grades and large gold-bearing systems that have the potential to support a
right-sized economic zone. While at site, a detailed review of the drill results
has led to several highlighted positive observations including the size and
grade potential of the unique, intrusive-hosted Karangosso zone, the strong
similarities of the Kien zone to Endeavour's Vindaloo zone and the common high
grades encountered in the drill programmes on Savary's property to date.
Interest in projects in Burkina Faso has been rekindled as a result of high
grade discoveries by Roxgold, Semafo and Orbis Gold in addition to the recently
announced mergers of Volta Resources, Ampella Mining and Teck's strong financial
support of True Gold. Savary's goal is to complete the option earn-in of the
Hounde South property by completing a drill-focused exploration program in the
first half of 2014."
To view Figure 1, please visit the following link:
http://media3.marketwire.com/docs/sca120-F1.pdf.
The Karangosso zone represents a separate mineralized trend (see figure 2) and
an exciting new type of mineralization in the project area. At Karangosso,
drilling returned intercepts of 10.14 g/t Au over 10.0 metres, 5.82 g/t Au over
8.0 metres and 1.82 g/t Au over 7.0 metres in two holes that clipped the
northern end of the interpreted intrusive body. The mineralization is hosted by
a deeply weathered, sericite-altered, quartz porphyry felsic intrusion that
magnetic data suggests is approximately 1,200 metres by approximately 350 metres
in size. The combination of a large target area, good grades and deep
weathering, (implies robust metallurgy and cheap mining costs) makes this new
occurrence the highest priority target on the property. Several other magnetic
lows occur along this contact suggesting other felsic intrusions and new target
areas. This contact zone has seen limited to no exploration in the past even
though Semafo's Mana deposit appears to occur in a similar structural position
as does Endeavour's Grand Espoir zone.
To view Figure 2, please visit the following link:
http://media3.marketwire.com/docs/sca120-F2.pdf.
Savary's other zones Kien, Kueredougou and Diosso South lie along a well-defined
gold enriched structural corridor, as shown in the compiled soil geochemical
data, that extends at least 40 kilometres southward from the Kien zone onto
Sarama's Serakoro 1 property (see figure 3). Management believes that it is
highly likely that not only can these current zones be extended along strike and
to depth, but, that other zones will be discovered along this trend as well.
To view Figure 3, please visit the following link:
http://media3.marketwire.com/docs/sca120-F3.pdf.
Recent drilling at Kien zone displayed gold values associated with strong
sericite, pyrite and fuschite altered, quartz veined mafic volcanic rocks that
are visually similar to the mineralization style at Endeavour's Vindaloo zone.
Drilling has returned intercepts of 2.0 g/t Au over 21.0 metres and 7.35 g/t Au
over 7.9 metres along 800 metres of a minimum 1,000 meter long Au-in-soil
anomaly which appear to extend to the north and south.
New holes at the northern end of the Kueredougou zone extended the mineralized
zone for 1,000 metres to 2,500 metres along strike with good grade intercepts of
2.51 g/t Au over 18.0 metres including 7.52 g/t Au over 5.0 metres, in hole
HS-RC-13-54. The Kueredougou zone is still open to the north where a high
quality structural target needs drill testing along with follow-up of high grade
drill intercepts.
The assay results reported here represent drill results from previous programs,
the most recent of which, was carried out in March and April of 2013. To date,
Savary has spent approximately $2.1 of a $3 million work commitment in order to
earn a 100% interest in the property from Endeavour Mining. Savary's goal is to
carry out an approximate $1 million drill program from March to May, 2014 with a
focus on extending, and better defining, the gold zones at Karangosso, Kien and
Kueredougou. The Company's objective is to work toward publishing a maiden
mineral resource estimate as soon as a threshold mineral resource is defined.
Once sufficient resources have been defined, management believes the logical
next step is to initiate a preliminary economic assessment.
The Hounde South property consists of two exploration licenses, Diosso and
Mandiasso, totalling 375 square kilometres and two exploration concession
applications totalling 125 square kilometres, and is located in the Birimian age
Hounde Greenstone Belt of West Africa, currently the fastest growing gold
producing area in the world.
Drilling was carried out by Major Drilling Burkina Faso SA. using a
track-mounted, RC drill rig. Sampling of the RC chips was conducted on one metre
intervals from surface. 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.
Although not accredited, 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. In addition to SGS QA/QC procedures, Savary Gold instituted its own
QAQC program consisting of blind and random insertion of standard reference
material (1 in 20 samples), field duplicates (3 in 100 samples) and blank
samples (2 in 100 samples). Both Major Drilling Burkina Faso SA. and SGS Burkina
Faso SA., are independent of Savary Gold.
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. Mr. Dudek has been leading
exploration activities in the Hounde belt since 2010 starting with Avion Gold
Corp. and more recently with Endeavour Mining Corp. where he supervised the
completion of a feasibility study on Endeavour's Hounde property.
About Savary Gold
Savary Gold is a Canadian exploration company focused on exploring the Hounde
South Gold Property in Burkina Faso. The property is in the Birimian age Hounde
Greenstone Belt, which hosts Semafo's Mana mine and additional gold deposits
that are presently subject to extensive exploration efforts (including Endeavour
Mining's Hounde Project and Sarama's South Hounde Project, which is adjacent to
Savary Gold's property). For additional information please visit our website at
www.savarygold.com and follow us on Facebook and Twitter: @SavaryGold.
SAVARY GOLD CORP.
On behalf of the Board
Don Dudek, President & Chief Executive Officer
Cautionary Note Regarding Forward-Looking Information
Information set forth in this news release may involve forward-looking
statements under applicable securities laws. Forward-looking statements are
statements that relate to future, not past, events. In this context,
forward-looking statements often address expected future business and financial
performance, and often contain words such as "anticipate", "believe", "plan",
"estimate", "expect", and "intend", statements that an action or event "may",
"might", "could", "should", or "will" be taken or occur, or other similar
expressions. Forward-looking statements or information relate to, among other
things, the details and timing of the Company's exploration plan, the results of
the recently completed drilling and sampling, and the exploration potential of
the Company's properties. By their nature, forward-looking statements involve
known and unknown risks, uncertainties and other factors which may cause our
actual results, performance or achievements, or other future events, to be
materially different from any future results, performance or achievements
expressed or implied by such forward-looking statements. Such factors include,
among others, the following risks: the risks associated with outstanding
litigation, if any; risks associated with project development; the need for
additional financing; operational risks associated with exploration;
fluctuations in gold and other commodity prices; title matters; environmental
liability claims and insurance; reliance on key personnel; the potential for
conflicts of interest among certain officers, directors or promoters with
certain other projects; the absence of dividends; competition; dilution; the
volatility of our common share price and volume and other risks and
uncertainties, including those described in the Company's most recent Management
Discussion & Analysis report filed with the Canadian Securities Administrators
and available at www.sedar.com. Forward-looking statements are made based on
management's beliefs, estimates and opinions on the date that statements are
made and the Company undertakes no obligation to update forward-looking
statements if these beliefs, estimates and opinions or other circumstances
should change, except as required by law. Investors are cautioned against
attributing undue certainty to forward-looking statements.
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.
Savary 2013 Drill Program Assay Composite summary
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Hole # From To Width Au g/t Comment
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HS-RC-13-27 1.0 5.0 4.0 1.15 Kien Area
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HS-RC-13-27 13.0 22.0 9.0 1.24 Kien Area
----------------------------------------------------------------------------
HS-RC-13-28 49.0 53.0 4.0 3.61 Kien Area
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HS-RC-13-28 79.0 82.0 3.0 0.99 Kien Area
----------------------------------------------------------------------------
HS-RC-13-29 50.0 52.0 2.0 0.85 Kien Area
----------------------------------------------------------------------------
HS-RC-13-30 0.0 9.0 8.0 2.48 Kien Area
----------------------------------------------------------------------------
HS-RC-13-30 13.0 16.0 3.0 0.55 Kien Area
----------------------------------------------------------------------------
HS-RC-13-30 27.0 28.0 1.0 0.89 Kien Area
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HS-RC-13-30 74.0 75.0 1.0 0.85 Kien Area
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HS-RC-13-31 54.0 75.0 21.0 2.00 Kien Area
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HS-RC-13-31 79.0 80.0 1.0 0.90 Kien Area
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HS-RC-13-31 94.0 95.0 1.0 1.11 Kien Area
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HS-RC-13-32 3.0 11.0 8.0 7.36 Kien Area
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HS-RC-13-32 18.0 19.0 1.0 0.79 Kien Area
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HS-RC-13-32 98.0 104.0 6.0 1.28 Kien Area
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HS-RC-13-33 8.0 9.0 1.0 0.80 Kien Area
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HS-RC-13-33 12.0 13.0 1.0 0.55 Kien Area
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HS-RC-13-33 16.0 20.0 4.0 0.65 Kien Area
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HS-RC-13-33 31.0 32.0 1.0 1.41 Kien Area
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HS-RC-13-34 NSV
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HS-RC-13-35 52.0 57.0 5.0 0.88 Kien Area
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HS-RC-13-36 NSV
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HS-RC-13-37 NSV
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HS-RC-13-38 49.0 52.0 3.0 0.64 Kien Area
----------------------------------------------------------------------------
HS-RC-13-38 85.0 86.0 1.0 0.90 Kien Area
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HS-RC-13-42 61.0 62.0 1.0 1.43 Keuredougou area
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HS-RC-13-43 13.0 14.0 1.0 0.50 Keuredougou area
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HS-RC-13-43 36.0 37.0 1.0 0.81 Keuredougou area
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HS-RC-13-43 53.0 54.0 1.0 0.88 Keuredougou area
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HS-RC-13-44 88.0 89.0 1.0 0.86 Keuredougou area
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HS-RC-13-46 10.0 12.0 2.0 4.50 Keuredougou area
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HS-RC-13-46 64.0 65.0 1.0 3.82 Keuredougou area
----------------------------------------------------------------------------
HS-RC-13-47 41.0 42.0 1.0 0.66 Keuredougou area
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HS-RC-13-47 101.0 102.0 1.0 2.00 Keuredougou area
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HS-RC-13-49 107.0 108.0 1.0 0.71 Keuredougou area
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HS-RC-13-49 112.0 113.0 1.0 0.62 Keuredougou area
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HS-RC-13-51 5.0 15.0 10.0 1.06 Keuredougou area
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HS-RC-13-52 87.0 88.0 1.0 17.00 Keuredougou area
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HS-RC-13-54 13.0 31.0 18.0 2.51 Keuredougou area
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includes 26.0 31.0 5.0 7.52 Keuredougou area
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HS-RC-13-54 51.0 52.0 1.0 1.78 Keuredougou area
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HS-RC-13-55 83.0 87.0 4.0 0.84 Keuredougou area
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HS-RC-13-60 37.0 38.0 1.0 0.52 Karangosso area
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HS-RC-13-63 53.0 61.0 8.0 5.77 Karangosso area
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HS-RC-13-63 84.0 94.0 10.0 10.14 4.23 g/t capped at
30 g/t Au
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HS-RC-13-63 93.0 94.0 1.0 1.37 Karangosso area
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HS-RC-13-64 19.0 26.0 7.0 1.82 Karangosso area
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HS-RC-13-72 89.0 90.0 1.0 0.77 Kueredougou area
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HS-RC-13-73 NSV Kueredougou area
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FOR FURTHER INFORMATION PLEASE CONTACT:
Savary Gold Corp.
Michael McAllister
Manager, Investor Relations
416-309-2134
info@savarygold.com
www.savarygold.com
Savary Gold Corp. (TSXV:SCA)
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