Savary Gold Corp.
TSX VENTURE : SCA

Savary Gold Corp.

December 15, 2014 07:00 ET

Savary Gold's and Sarama's Field Program Discovers 24 New Zones of Gold Mineralization and Identifies Two New Gold Trends on the Karankasso JV Project, Burkina Faso

Five to Eight Kilometres Wide by 45 Kilometres Long Prospective Corridor for Gold Mineralization

TORONTO, ONTARIO--(Marketwired - Dec. 15, 2014) - Savary Gold Corp. (TSX VENTURE:SCA) ("Savary") and Sarama Resources Ltd. (TSX VENTURE:SWA) ("Sarama") announce new grab sample assay results from a recently completed field program on the Karankasso JV Project in southwestern Burkina Faso (see figure below). The 750 square kilometre Karankasso property is a 65/35 joint venture with Savary as operator. A summary of significant results are as follows:

  • 2.11 g/t gold - New zone, Karan Trend - Highway quartz porphyry zone, not drilled
  • 2.20 g/t gold - New zone, Kuere West zone - not drilled
  • 5.50 g/t gold - Kien West zone southern extension, not drilled
  • 3.29 g/t gold - Kien West zone southern extension, not drilled
  • 50.75 g/t gold - New zone southwest of Kueredougou West, not drilled
  • 3.74 g/t gold - New zone, Kueredougou West southern extension, not drilled
  • 1.63 g/t gold - New zone west of Kueredougou West, not drilled
  • 2.86 g/t gold - New zone, Kuere West trend, not drilled
  • 24.90 g/t gold - New zone, Koure Trend, new zone, not drilled
  • 28.25 g/t gold - New zone, Koure Trend, new zone, not drilled
  • 5.4 g/t gold - New zone, 400 m west of Koure trend, not drilled
  • 4.54 g/t gold - New zone, 250 m west of Koure trend, not drilled
  • 12.48 g/t gold - New zone, 450 m west of Koure trend, not drilled
  • 23.4 g/t Au - Serakoro 1 West zone, drill follow-up required
  • 11.55 g/t gold - New zone, Karan trend, not drilled
  • 13.5 g/t gold - New zone, Sera W trend, not drilled

Highlights of this work include the following target areas:

  • Recognition of numerous, new gold occurrences over a wider than previously realized area, ranging from five to eight kilometres wide, and that likely extends for the length of the concession package, a distance of approximately 45 km. In addition to the dominant trends of gold mineralization, numerous gold-bearing sub-structures have been indentified between the larger scale structures.
  • Discovery of several new zones of felsic intrusion hosted gold mineralization along the Sera W and Karan mineralization trends proximal to the western margin of the Houndé Belt.
    • one zone, that intersects the highway, returning grab samples of quartz veined felsic intrusion that returned 2.11 and 1.92 g/t Au from two historic mining areas 430 metres by up to 40 metres wide and 470 metres by up to 50 metres wide, respectively.
  • Discovery of the Koure Trend mineralization - samples from different mineralized artisanal mining zones along a 3.8 km strike returned values of 24.8 g/t Au, 28.25 g/t Au and 1.25 g/t Au. This trend has never been drill tested and contains the visually strongest gold-bearing mineralization on the property.
  • Discovery of several untested artisanal mining zones, with widths ranging up to 35 metres wide, located 900 metres south of the recently reported Kueredougou West zone.
  • Identification of likely structural controls for gold mineralization in the Serakoro 1 West zone where previous drilling returned 3.7 g/t Au over 27.0 metres and high gold values in an altered felsic intrusion returned up to 23.4 g/t Au from outside the drill tested area.
  • Discovery of a new zone of intensive artisanal mining in the northwest corner of the Serakoro 1 property that returned an assay of 13.5 g/t Au.
  • Discovery of the untested, up to 35 metres wide, Kuere West trend that can be traced for 8.2 kilometres via a series of artisanal mining areas. Samples from this trend returned up to 2.86 g/t Au.

"Once again the Karankasso project results exceeded our expectations" stated Don Dudek, President and CEO of Savary "Recently completed field work has not only demonstrated additional mineralization along known gold mineralized trends, but has also resulted in the discovery of several new multi-kilometre long gold mineralization trends which host 24 new gold zones that have returned values of greater than 1.0 g/t gold as well as several large areas of gold mineralization, that individually display size, grade and alteration characteristics which could result in a material discovery."

From November 18th to 30th, Savary and Sarama completed a reconnaissance field program covering the 750 square kilometre Karankasso Project area. The goal of the field program was to improve the understanding of the controls on the existing zones, visit and evaluate newly discovered artisanal mining sites and follow-up on untested gold-in-soil anomalies. During this program 128 rock samples were collected and information for 396 data sites was recorded. This work resulted in the discovery of 24 new gold zones returning > 1.0 g/t Au and three new gold-bearing trends, Koure, Keure West and Karan trends. Assay details and general site descriptions are presented at the end of the release. Note that most rock samples were collected from artisanal waste rock piles as, in most cases, sampling directly from outcrop was not possible.

To view the Figure associated with this release, please visit the following link: http://media3.marketwire.com/docs/SAVARY1.jpg.

QP comments

In addition to the mapping and prospecting program, a detailed (50 metre by 25 metre sample points) soil sampling program was carried out over an 800 metre by 800 metre portion of the Serakoro 1 West zone where previous drilling returned up to 3.72 g/t Au over 27.0 metres. The goal of the program is to better define, what is expected to be, a locally high grade, conjugate vein, gold zones hosted by a fractured felsic intrusion.

An additional observation, specifically regarding the Serakoro 1 concession, is that outside of the main Sera W and Keure Trends, there is abundant laterite cover which masks the bedrock and thus reduces Savary's ability to trace gold zones along strike. This could be a reason why there is less artisanal activity on the Serakoro 1 property as compared to the Mandiasso and Diosso concessions to the north. An augur sampling or rotary air blast (RAB) program is being considered to aid in tracing the gold zones south into the Serakoro 1 concession.

Once the soil sample results have been received, all new and existing drill targets will be prioritized and a follow-up exploration drill program will be developed for presentation to Savary's Board of Directors and Sarama's management team for review and approval.

QA/QC

All samples were collected in plastic bags, which were stapled shut with a sample tag before inserted into a larger poly sample bag for shipment to SGS Laboratories in Ouagadougou. Sample blanks and assay standards were inserted every ten prospecting samples resulting in 11% of the assayed samples being reference/blank control samples. Upon reception of the assay results, the results for the reference and blank control samples were compared against expected results. All standards and blank control samples returned results within expected ranges. Don Dudek, P. Geo. has reviewed and supervised the QA/QC program.

About Savary Gold

Savary Gold is a Canadian exploration company, along with partner, Sarama Resources Limited, are focused on exploring the Houndé South and Serakoro 1 Gold Properties in Burkina Faso. The properties are 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 Yaramoko Project and Sarama's South Houndé 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, Linked-In and Twitter: @SavaryGold.

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

Cautionary Notes

Neither 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 field program, the discovery of new gold minerlaization, the identification of new gold trends, historical drill intercepts and the results of historical data being indicative of the potential of the property. 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.

Fall 2014 Karankasso Prospecting Program Sampling results

Au g/t Au Sample # Easting Northing Zone
<0.01 9301 403588 1205328 New - Karan East Highway, 430 m by up to 40 m wide artisanal zone, not drill tested
1.92 9302 403592 1205345 New - Karan East Highway, 430 m by up to 40 m wide artisanal zone, not drill tested
0.04 9303 403609 1205389 New - Karan East Highway, 430 m by up to 40 m wide artisanal zone, not drill tested
<0.01 9304 403590 1205375 New - Karan East Highway, 430 m by up to 40 m wide artisanal zone, not drill tested
2.11 9305 403362 1205498 New - Karan East Highway, 470 m by up to 50 m wide artisanal zone, not drill tested
0.2 9306 403575 1205149 New - Karan East Highway, 430 m by up to 40 m wide artisanal zone, not drill tested
0.03 9307 403574 1205209 New - Karan East Highway, 430 m by up to 40 m wide artisanal zone, not drill tested
0.04 9308 409532 1206855 New - Karan East Highway, 430 m by up to 40 m wide artisanal zone, not drill tested
0.39 9309 409700 1206955 New - Karan East Highway, 430 m by up to 40 m wide artisanal zone, not drill tested
0.03 9311 408699 1207015
1.94 9312 408059 1205123 Kien East northeast extension, 1.2 km by up to 35 m wide artisanal mining trend, not drilled
0.89 9313 408059 1205123 Kien East northeast extension, not drilled
4.25 9314 406194 1203708 Kien West, nearby drill hole not drilled far enough to intersect 225 m by 5-10 m wide artisanal mining zone
1.16 9315 406253 1203685 Kien West, nearby drill hole just missed 150 m by up to 30 m wide artisanal mining zone
0.56 9316 405966 1202430 Kien West, 200 m by 1-3 m wide artisanal mining zone, not drilled
0.02 9317 406659 1202282
0.25 9318 405736 1201853 Kien West trend, 350 m by 1-3 m wide series of artisanal pits, not drilled
5.55 9319 405741 1201853 Kien West trend, 350 m by 1-3 m wide series of artisanal pits, not drilled
0.47 9321 405815 1201924 Kien West trend, 350 m by 1-3 m wide series of artisanal pits, not drilled
0.12 9322 405605 1201304 Kien West trend, 50 m by 3-5 m wide artisanal zone, not tested
3.29 9323 405621 1201318 Kien West trend, 50 m by 3-5 m wide artisanal zone, not tested
0.24 9324 401296 1189746 Kuere Trend, Diosso South zone parallel zone, 270 m by 1-3 m pitting area, not drilled
0.58 9325 401217 1189614 Kuere Trend, Diosso South zone parallel zone, 270 m by 1-3 m pitting area, not drilled
0.77 9326 401087 1189411 Kuere Trend, Diosso South zone parallel trend, 15 m by 1-3 m wide pitting area, nearby RC hole returned 1.37 g/t Au over 4.0 m and 1.2 g/t Au over 2.0 m
0.14 9327 401333 1188750 New, 150 m west of Koure trend, small isolated artisanal pit
0.03 9328 401423 1188788 New, Koure trend, 200 m by 2-5 m wide zone of artisanal mining, not drilled
0.03 9329 401447 1188877 New, Koure trend, 200 m by 2-5 m wide zone of artisanal mining, not drilled
0.91 9331 401487 1188963 New, Koure trend, 200 m by 2-5 m wide zone of artisanal mining, not drilled
0.41 9332 401286 1189236 New, isolated artisanal site, 150 m long by up to 30 m wide, sericite-fuchite alteration, 400 m east of Diosso South zone, RAB hole, 60 m north returned 2.08 g/t Au over 2.0 m
0.43 9333 401277 1189213 New, isolated artisanal site, 150 m long by up to 30 m wide, sericite-fuchite alteration, 400 m east of Diosso South zone, RAB hole, 60 m north returned 2.08 g/t Au over 2.0 m
1.12 9334 400304 1189422 Kuere West trend, 500m east of Diosso South zone, 870 m by up to 35 m wide artisanal mining zone, not tested
1.6 9335 400309 1189511 Kuere West trend, 500m east of Diosso South zone, 870 m by up to 35 m wide artisanal mining zone, not tested
2.205 9336 400403 1189670 Kuere West trend, 500m east of Diosso South zone, 870 m by up to 35 m wide artisanal mining zone, not tested
0.06 9337 400485 1189858 Kuere West trend, 500m east of Diosso South zone, 870 m by up to 35 m wide artisanal mining zone, not tested
0.64 9338 400250 1189285 Kuere West trend, 500m east of Diosso South zone, 870 m by up to 35 m wide artisanal mining zone, not tested
0.47 9339 400154 1189084 Kuere West trend, 500m east of Diosso South zone, 870 m by up to 35 m wide artisanal mining zone, not tested
0.28 9341 400142 1188901 Kuere West trend, 500m east of Diosso South zone, 870 m by up to 35 m wide artisanal mining zone, not tested
0.06 9342 400112 1188691 New, Isolated artisanal site, 35 m long by 1-3 m wide, may be related to Kuere West Trend
0.09 9343 399468 1187424
0.73 9344 404970 1197808 Kuere Cross, new zone on northeast trending cross-structure
0.07 9345 404971 1197809
0.15 9346 404870 1197916
0.05 9347 402407 1193130 New, Kuere Trend, 950 m south of Keuredougou West zone, 750 m by up to 35 m wide zone of artisanal mining, Southern extension, not tested
6.17 9348 402388 1193109 New, Kuere Trend, 950 m south of Keuredougou West zone, 750 m by up to 35 m wide zone of artisanal mining, Southern extension, not tested
1.2 9349 402406 1193199 New, Kuere Trend, 950 m south of Keuredougou West zone, 750 m by up to 35 m wide zone of artisanal mining, Southern extension, not tested
0.9 9351 402432 1193277 New, Kuere Trend, 950 m south of Keuredougou West zone, 750 m by up to 35 m wide zone of artisanal mining, Southern extension, not tested
0.12 9352 402501 1193531 New, Kuere Trend, 950 m south of Keuredougou West zone, 750 m by up to 35 m wide zone of artisanal mining, Southern extension, not tested
0.09 9353 402589 1193392
0.03 9354 402637 1193407
50.75 9355 402811 1193154 New zone, 350 m East of Kuere trend, 40 m by 15 m wide artisanal mining zone, not tested
3.74 9356 402325 1193907 New, Kuere west trend, 65 m by 1-3 m artisanal mining area, RAB hole 110 m north interested 1.45 g/t Au ober 4.0 m
0.41 9357 402547 1194474 New, Kuere West trend, 100 m by 1-3 m wide artisanal zone
1.63 9358 401821 1194739 New zone west of Kuere West trend, 150 mby 40 m wide artisanal pitting area, not drilled
0.05 9360 402566 1194862
0.21 9361 401415 1193866
1.15 9362 402636 1194744 Keure West trend, 170 m by 1-2 m wide area with artisanal pitting lines, RAB hole 150 m south intersected 0.99 g/t Au over 3.0 m
0.08 9363 403142 1194536
2.86 9364 402775 1195084 Kuere West trend, 78 m by 1-2 m wide zone of artisanal shafts, RAB hole 120 m south interested 0.99 g/t Au over 1.0 m
0.54 9365 402445 1197044 New zone west of Kuere West trend, 145 m by 1-3 m wide artisanal mining area, not drilled
0.06 9366 402776 1194665 Kueredougou West zone
0.54 9367 402743 1194549 Kueredougou West zone
1.91 9368 402653 1194294 Kueredougou West zone, sample from pit 60 m south of last hole
2.85 9369 403123 1194557 New zone, 270 m east of Kueredougou West zone, 400 by 1-2 m wide trend of artisanal pits
0.06 9370 403377 1194812
1.82 9372 404482 1194673 New Zone - Koure Trend, traced for 1.04 km and up to 55 m wide, not drilled
24.8 9373 404478 1194697 New Zone - Koure Trend, traced for 1.04 km and up to 55 m wide, not drilled
6.47 9374 404496 1194820 New Zone - Koure Trend, traced for 1.04 km and up to 55 m wide, not drilled
<0.01 9375 404542 1195065 New Zone - Koure Trend, traced for 1.04 km and up to 55 m wide, not drilled
0.11 9376 404579 1195179 New Zone - Koure Trend, traced for 1.04 km and up to 55 m wide, not drilled
0.5 9377 404665 1195325 New Zone - Koure Trend, traced for 1.04 km and up to 55 m wide, not drilled
0.02 9378 404562 1195359 New Zone - Koure Trend, traced for 1.04 km and up to 55 m wide, not drilled
0.14 9379 404457 1195395 New Zone - Koure Trend, traced for 1.04 km and up to 55 m wide, not drilled
0.46 9381 404369 1194360 New Zone - Koure Trend, traced for 1.04 km and up to 55 m wide, not drilled
28.25 9382 405572 1196876 New Zone - Koure Trend,, 1.8 km north of sample group 9372-9381, 150 m long by 1-5 m wide pitting trend, sulphide rich waste piles, not drilled
0.055 9383 405600 1196913
<0.01 9384 405626 1196799
0.03 9385 405645 1196818
0.23 9386 404385 1195710
5.4 9387 404404 1195643 New Zone - 400 m west of Koure Trend, 140 m by 50 m zone of pitting, hosted by pillow basalt, not drilled
<0.01 9388 404280 1195731 New Zone - 400 m west of Koure Trend, 140 m by 50 m zone of pitting, hosted by pillow basalt, not drilled
1.1 9390 404315 1195712 New Zone - 400 m west of Koure Trend, 140 m by 50 m zone of pitting, hosted by pillow basalt, not drilled
1.76 9391 404635 1195770 New Zone - 400 m west of Koure Trend, 140 m by 50 m zone of pitting, hosted by pillow basalt, not drilled
2.15 9392 404462 1198104 New Zone - 250 m east of Kuere Trend, 230 m by 3-7 m wide pitting area, RC hole 80 m south intersected 0.88 g/t Au over 1.0 m and 0.81 g/t Au over 1.0 m, not drilled
26.8 9393 404521 1198269 New Zone - 250 m east of Kuere Trend, 230 m by 3-7 m wide pitting area, not drilled
0.21 9394 404576 1198333
0.04 9395 406537 1202038
1.74 9396 406313 1201407 New Zone 500 m west of interpreted Koure Trend, 48 m by 100 m artisanal diggin zone, not drilled
4.54 9397 406543 1201278 New Zone 250 m west of interpreted - Koure Trend, 450 m by up to 40 m wide cluster of pits
<0.01 9398 406543 1201012
12.45 9400 406300 1200394 New Zone, 420 m west of interpreted Koure Trend, 3 narrow pitting trends up to 65 m long and 1-2 m wide
1.25 9401 405997 1197746 New zone, Koure trend, area of 10+ 30-40 m deep shafts along a 160 m strike, sample of periferal mineralization to planned mining area
0.34 9402 403361 1193034 New, Isolated area of artisanal digging 134 m by 25 m wide
0.26 9403 401263 1190252 Kuere trend, 300 m by 1-10 m wide zone of pitting, active mining, historic RC returned 4.93 g/t over 1.0 m and 5.92 g/t over 3.0 m
0.62 9404 398298 1189995 New zone - Karan West trend, 425 m by 1-3 m wide zone of artisanal shafts, mix of sheared intermediate volcanics and felsic intrusion
0.21 9405 398547 1190744 New zone, 75 m by 1-10m wide artisanal zone with 30 m shaft, sheared and quartz veined felsic intrusion,
0.03 9406 398369 1190598
11.55 9407 398706 1191498 New Zone - Karan West trend, Sericitized, pyritic and quartz veined intermediate volc and felsic intrusion
23.4 9410 392230 1176012 Serakoro 1 West, weakly silicified and sericitic felsic intrusion
<0.01 9411 392530 1176196
13.3 9412 392527 1176218 Serakoro 1 West, weakly silicified and sericitic felsic intrusion
0.72 9413 392522 1176758 Serakoro 1 West, weakly silicified and sericitic felsic intrusion
0.68 9414 396341 1176846 New zone - Kuere Trend, Serakoro 1 concession, outcrop sample, nearest hole 600 m south
<0.01 9415 396042 1176794
<0.01 9416 398198 1179472
<0.01 9417 397961 1182262
<0.01 9418 395916 1176573
0.19 9419 395957 1176331
0.07 9421 395959 1176286
0.06 9422 395599 1171693
<0.01 9423 395563 1171702
<0.01 9424 395529 1171697
<0.01 9425 395439 1171654
<0.01 9426 395624 1171920
1.415 9427 395765 1173199 Kuere Trend - Serakoro Main zone trend, tested, RC hole 60 m north returned 2.67 g/t Au over 10.0 m
4.35 9428 396073 1173215 New zone, Kuere Trend - Serakoro Main zone, 392 m by up to 5 m wide zone of artisanal pitting, sheared intermediate volcanic, narrow, not drilled
0.5 9430 395970 1173343 New zone, 15 m by 0.5 to 1.0 m wide slot into QV zone to 5 m depth, not drilled
0.02 9431 395749 1173322
0.02 9432 396695 1173718
0.02 9433 393577 1182794
0.49 9434 393540 1182134 New zone - Sera W trend, Serakoro 1 concession, artisanal pitting zone 280 m by 5-10 m wide, shafts to 10 m deep, not tested
3.29 9435 393555 1181901 New zone - Sera W trend, Serakoro 1 concession, artisanal pitting zone 280 m by 5-10 m wide, shafts to 10 m deep, not tested
<0.01 9436 393548 1181907
0.64 9437 392590 1180214 New zone - Sera W trend, quartz veined felsic intrusion, open pit artisanal mining zone 100 m by 70 m, nearby RAB holes returned up to 1.93 g/t Au over 2.0 metres, RC drill follow-up required
0.11 9438 392609 1180149 as per sample 9437
<0.01 9439 393621 1181135
5.3 9441 394110 1181227 New Zone, 1.2 km east of Sera W trend, 2, 1 mwide by 150 m series of artisanal pits from 1 m to 8m deep
13.5 9442 393466 1183945 New zone - Sera W trend, quartz veined intermediate to mafic volcanic, 10+, 30-40 m deep shafts across a 5-15 m wide zone for 130 m along strike
0.02 9443 393516 1183960 Cherty unit with brown tourmaline patches, active artisanal mining area 30 m by 2-4 m

Contact Information