Sarama Resources Drills
NEWS RELEASE
8 SEPTEMBER, 2022
SARAMA RESOURCES DRILLS
34m @ 1.65g/t Au IN NEW OXIDE ZONE
Shallow Reconnaissance Drilling Opens Up New Trend for Exploration at MM & MC Prospects
PERTH, AUSTRALIA / VANCOUVER, CANADA. Sarama Resources Ltd. (“ Sarama” or the “ Company”) (ASX:SRR, TSX-
V:SWA) is pleased to announce that exploration drilling has returned further significant intersections in near-surface
oxide material outside the current Mineral Resource. These intersections, including 34m @ 1.65g/t Au, are in a sparsely
drilled area at the MM & MC Prospects and open-up a new trend for future exploration. The reported drilling totals
700m, part of an ongoing +50,000m program at the Company’s 100% -owned(4), multi-million ounce Sanutura Project
(the “Project”), primarily designed to increase the oxide component of the Project’s already large 0.6Moz Au (Indicated)
plus 2.3Moz Au (Inferred)(1) Mineral Resource.
Highlights
Sarama’s President, CEO & MD, Andrew Dinning commented:
“We are very pleased with these results and once again, the current drill program is delivering new, shallow high-value
material, building on the new discovery at the Obi Prospect and new high-grade mineralisation within the MM Prospect.
We are particularly excited by the 34m @ 1.65g/t Au intersection which i s significant not only because it is in oxide
material but also as it is outside the current Mineral Resource. The results show potential for another new exploration
trend featuring oblique and/or blind mineralisation that has the potential to add signifi cant amounts of high- value
material to the current Mineral Resource.”
• New exploration trend, extending for 1.7km, identified at MM & MC Prospects within the Sanutura Project
• Highlighted downhole intersections in oxide material from new assays include:
o 34m @ 1.65g/t Au from 18m in TAA315;
o 12m @ 1.36g/t Au from 18m in TAA417;
o 4m @ 3.23g/t Au from 47m in TAA192 (including 1m @ 10.25g/t Au);
o 12m @ 1.04g/t Au from 12m in TAA381 (including 4m @ 2.16g/t Au);
o 5m @ 2.40g/t Au from 62m in TAA380; and
o 5m @ 1.16g/t Au from 31m in TAA415
• Potential for discovery of significant mineralised lodes oblique to the strike of the current Mineral Resource,
which are integral to the gold endowment of the MM and MC Prospects
• Intersections are in shallow, oxide material with high potential to add to the oxide and transition component of
the Mineral Resource, currently standing at 0.2Moz Au (Indicated) plus 0.8Moz Au (Inferred)(2)
• Results continue to highlight the potential for new discoveries and resource extension in underexplored areas
• Further assays pending from Q2 2022 drill program – to be released as they come to hand and follow-up drilling,
including greenfields exploration drilling, expected to commence in Q4 2022
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Figure 1 –Tankoro Deposit Location Plan
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A Growth-Oriented Drill Program in Oxide Material
Reconnaissance Drilling Opens Up New Trend for Exploration
Results are being reported (refer Appendix A) for approximately 700m of aircore (“AC”) drilling (12 holes) undertaken
in June/July 2022 in the southern part of the MM & MC Prospects (refer Figures 1 & 2). The drilling targeted the near-
surface oxide horizon to a depth of approximately 50m and highlighted downhole intersections include:
• 34m @ 1.65g/t Au from 18m in TAA315;
• 12m @ 1.36g/t Au from 18m in TAA417;
• 4m @ 3.23g/t Au from 47m in TAA192 (including 1m @ 10.25g/t Au);
• 12m @ 1.04g/t Au from 12m in TAA381 (including 4m @ 2.16g/t Au);
• 18m @ 0.98g/t Au from 9m in TAA416;
• 5m @ 2.40g/t Au from 62m in TAA380; and
• 5m @ 1.16g/t Au from 31m in TAA415.
The recent reconnaissance drilling was targeted using soil geochemistry and geophysical surveys conducted by Sarama
and followed up historical reconnaissance drilling in the area which include highlighted intersections of:
• 6m @ 3.31g/t Au from 42m in AC914;
• 6m @ 2.18g/t Au from 22m in AC915; and
• 4m @ 2.88g/t Au from 18m in AC906.
The drilling is part of the ongoing +50,000m drill program at the Project which is designed to significantly increase the
oxide and transition component of the Mineral Resource which currently stands at 0.2Moz Au (Indicated) plus 0.8Moz
Au (Inferred)(2). Several of the new significant drill intersections occur within the Tankoro Deposit corridor in an area
that is sparsely drilled and outside the current Mineral Resource, highlighting the potential for new discoveries in
between existing wide-spaced drilling in underexplored areas.
Mineralisation at the Tankoro Deposit typically presents as a series of steeply dipping, sub -parallel lode packages
assembled in two distinct tracts which demonstrate kilometr e-scale continuity along their north -north-east strike.
Successive exploration campaigns by Sarama have developed the geologic model to include secondary cross -linking
mineralised lodes oriented at oblique angles to the lodes within the main mineralised tracts.
This architecture has been observed at the well-drilled areas of the MM and MC Prospects, which together host 66% of
the Project’s Mineral Resource. The mineralisation in these areas is interpreted to be the result of multi -phase
deformation and fluid emplacement events and provide the economic focal points of the Tankoro Deposit given the
associated increased lode volumes and higher grades . This occurrence is most notably proximal to the confluence of
the cross-linking and main lodes which have produced very strong, historical intersections including:
• 32m @ 4.82g/t Au from 14m in AC988 (MC Prospect);
• 45m @ 3.88g/t au from 6m in AC1891 (MC Prospect);
• 26m @ 6.90g/t Au from 22m in FRC845 (MC Prospect);
• 36m @ 6.48g/t Au from 14m in DDH059 (MC Prospect);
• 17.9m @ 7.23g/t Au from 101.3m in DDH010A (MM Prospect);
• 13.8m @ 5.90g/t Au from 101.3m in DDH004 (MM Prospect);
• 19m @ 4.64g/t Au from 65m in FRC154 (MM Prospect); and
• 11.8m @ 8.06g/t Au from 35.3m in DDH041 (MM Prospect).
While the understanding of the drill area reported in this news release is currently limited, further drilling is planned to
delineate the extent and geometry of mineralisation. The results of the new drilling suggest the p otential for cross-
linking mineralisation to be present in the area, reminiscent of the lode geometry seen in the more densely drilled areas
of the deposit immediately to the north.
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This bodes well for future exploration with potential additions from two areas:
1. the immediate area along the 1.1km -long strike of the inferred oblique lode that is proximal to the very
encouraging recent intersection of 34m @ 1.65g/t Au; and
2. further repetitions of cross-linking lodes within a north-north-east trending zone of elevated gold-in-soil values
which covers a footprint of 1.7km x 650m and is largely untested by drilling (refer Figures 2 & 3).
Drilling is currently paused until the end of the wet season in Q4 2022. The Company is currently interpreting results
and incorporating these in its planning for further drilling of its highest priority targets around the Mineral Resource,
including at these encouraging new locations, early in the next field season. A number of regional exploration targets
will also be tested in the upcoming programs.
Figure 2 – MM & MC Prospect – Drilling & Mineralisation Plan
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Figure 3 – MM & MC Prospects – 3D View of 1.7km-Long Corridor of Elevated Gold-in-Soil Values
An Already Large Mineral Resource with Potential to Grow
The Company’s primary focus is its 100% -owned(4) Sanutura Project, which hosts a large Mineral Resource of 0.6Moz
Au (Indicated) plus 2.3Moz Au (Inferred)(1) and covers an area of 1,420km2. The Project occupies a commanding position
along 70km of strike in the prolific Houndé Belt (refer Figure 4); Burkina Faso’s pre-eminent gold belt.
The Project lies 60km south of Endeavour Mining’s Houndé Mine (5Moz Au); 120km south of Fortuna Silver’s high-grade
Yaramoko Mine (1Moz Au), and 140km south of Endeavour Mining’s Mana Mine (5Moz Au), highlighting the significant
gold endowment of the Houndé Belt (refer Appendix B) . Endeavour Mining’s Bantou Project (1.5Moz Au Inferred
Mineral Resource(5)) is located only 6km from the bulk of the Sanutura Project’s main deposit, which illustrates the gold
camp scale of endowment in the immediate area.
The Project has significant growth potential and the primary objective of the current +50,000m drill program i s to
increase the existing 0.2Moz Au (Indicated) plus 0.8Moz Au (Inferred)(2) oxide and transition component of the Project’s
Mineral Resource to enhance the economics of mine development.
The recent drill program has generally focused on shallow additiona l and extensional targets throughout the well -
mineralised corridor, where mineralisation has been drill -defined for a semi -continuous strike length of 16km and
where potential exists to expand the Mineral Resource at shallow depths in oxide material.
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Figure 4 –Sanutura Project Location Plan
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Appendices
To access the appendices referred to in this announcement please click on the links below
Appendix A: Summary of Recently Drilled Results
https://saramaresources.com/wp-content/uploads/2022/09/appendix-a-summary-of-recently-retuirned-drill-
results.pdf
Appendix B: References to Previous ASX Disclosure
https://saramaresources.com/wp-content/uploads/2022/09/appendix-b-references-to-previous-asx-disclosure-1.pdf
Appendix C: JORC Code (2012 Edition) – Table 1 Information
https://saramaresources.com/wp-content/uploads/2022/09/appendix-c-jorc-code-2012-edition-table-1-information-
1.pdf
For further information, please contact:
Company Activities
Media Enquiries
Andrew Dinning or Paul Schmiede
Angela East
Media & Capital Partners
t: +61 8 9363 7600
t: +61 428 432 025
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ABOUT SARAMA RESOURCES LTD
Sarama Resources Ltd ( ASX: SRR, TSX-V: SWA) is a West African focused gold explorer /developer with substantial
landholdings in south -west Burkina Faso. Sarama is focused on maximising the value of its strategic assets and
advancing its key projects towards development.
Sarama’s 100%-owned(4) Sanutura Project is principally located within the prolific Houndé Greenstone Belt in south-
west Burkina Faso and is the exploration and development focus of the Company. The Project hosts the Tankoro and
Bondi Deposits which have a combined Mineral Resource of 0.6Moz gold (Indicated) plus 2.3Moz gold (Inferred)(1).
Together, the deposits present a potential mine development opportunity featuring an initial, long-life CIL project which
may be established and paid for by the significant oxide Mineral Resource base.
Sarama has built further optionality into its portfolio including an approximate 470km² exploration position in the highly
prospective Banfora Belt in south-western Burkina Faso. The Koumandara Project hosts several regional-scale structural
features and trends of gold-in-soil anomalism extending for over 25km along strike.
Sarama also holds an approximate 18% participating interest in the Karankasso Project Joint Venture (“ JV”) which is
situated adjacent to the Company’s Sanutura Project in Burkina Faso and is a JV between Sarama and Endeavour Mining
Corp (“Endeavour”) in which Endeavour is the operator of the JV. In February 2020, an updated Mineral Resource
estimate of 709koz gold(3) was declared for the Karankasso Project JV.
The Company’s Board and management team have a proven track record in Africa and a strong history in the discovery
and development of large -scale gold deposits. Sarama is well positioned to build on its current success with a sound
strategy to surface and maximise the value of its property portfolio.