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Savary Announces Positive Drill Results at Karankasso

25.07.2018  |  The Newswire
Highlights include 5.81 g/t Au over 14 m, 5.12 g/t Au over 13 m and 1.81 g/t Au over 28 m

Toronto, Canada - July 25, 2018 / Savary Gold Corp.. (TSX-V: SCA) ("Savary" or the "Company") is pleased to announce positive drill results from a 8,465 metre, 120-hole, air core and reverse circulation drill program that was completed in May and June on the Karankasso JV Project in southwestern Burkina Faso. The results of the program demonstrate at least seven zones of gold mineralization that warrant additional drilling. A summary of select drill hole results are presented below (see Figures 1 to 4 for locations and Table 1 for additional details).

Karangosso South Area*

RC-18-14 - 2.83 g/t gold over 5 metres from 56 metres

RC-18-15 - 9.61 g/t gold over 1 metre from 29 metres

RC-18-15 - 4.12 g/t gold over 6 metres from 65 metres

AC-18-79 - 1.81 g/t gold over 28 metres from 28 metres

AC-18-80 - 1.13 g/t gold over 9 metres from 39 metres

AC-18-81 - 1.94 g/t gold over 4 metres from 13 metres

AC-18-81 - 6.26 g/t gold over 2 metres from 22 metres

AC-18-82 - 5.12 g/t gold over 13 metres from 9 metres

Serakoro 1 West Area**

RC-18-28 - 5.24 g/t gold over 2 metres from 30 metres - A Zone

AC-18-60 - 1.93 g/t gold over 10 metres from 22 metres - F North Zone (new)

AC-18-73 - 2.76 g/t gold over 4 metres from 11 metres - F North Zone (new)

AC-18-73 - 3.45 g/t gold over 2 metres from 31 metres - F North Zone (new)

AC-18-76 - 1.40 g/t gold over 13 metres from 25 metres - D South Zone (new)

AC-18-77 - 5.81 g/t gold over 14 metres from 10 metres - D South Zone (new)

includes 57.63 g/t gold over 1 metre

AC-18-131 - 3.95 g/t gold over 3 metres from 11 metres - A zone

AC-18-132 - 1.67 g/t gold over 10 metres from 38 metres - A South Zone (new)

AC-18-133 - 3.09 g/t gold over 8 metres from 25 metres - A South Zone (new)

AC-18-134 - 1.53 g/t gold over 6 metres from 12 metres - A South Zone (new)

Serakoro West North Area**

AC-18-96 - 1.07 g/t gold over 8 metres from 12 metres (new)

AC-18-100 - 1.56 g/t gold over 6 metres from 38 metres (SWN1 Zone)

AC-18-112 - 3.84 g/t gold over 4 metres from 8 metres (new)

AC-18-118 - 50.85 g/t gold over 1 metres from 13 metres and 2.44 g/t gold over 13 metres from 20 metres (new)

* widths are 70-75% of true width

** widths are approximate true widths

Since January 2018, Savary has completed 20,495 metres of auger, air core and reverse circulation drilling. Further core and reverse circulation drilling to follow-up these results is planned in Q4 of 2018. Savary owns an approximate 73.5% interest and is the operator of the project.

"Our decision to focus on the significantly underexplored southern portion of the property in the first half of 2018 was rewarded with strong drill intercepts at Karangosso South and the discovery of at least seven new zones of gold mineralization. These new zones, along with the Karangosso South and Serakoro West zones, are indicative of the potential to increase the overall mineral resources of the project. Drilling is planned to resume in Q4, 2018 to further expand and demonstrate this potential," stated Don Dudek, President and CEO of Savary.

The recent program focussed on the southern concession block. It comprised 83 air core holes for 4,204 metres and 37 reverse circulation holes, totalling 4,261 metres. The goal of the program was to: 1) test for strike extension of the Serakoro West Zone inferred resource; 2) follow-up on drill intercepts from 2017-18 and 3) test the stronger (>100 ppb Au) gold-in-auger anomalies. The results demonstrated strong, gold-bearing mineralization in seven areas. Highlights of these results include:

Karangosso South Area - minimum of four, gold bearing lenses defined along 400 metres of strike, across a width of 75 metres, with a best intercept of 5.12 g/t Au over an estimated true width of 10 metres (see Figures 3 and 4). The zone is open along strike to the north and south and has only been tested to an average depth of less than 50 metres.

Serakoro 1 West Area (Figure 2) - SWA lens area - mineralization now been extended to 700 metres along strike and to a depth of approximately 100 metres. This zone has a current inferred1, open-pit constrained resource estimate of 19,300 ounces at 1.5 g/t gold (along the previous 400 metres of strike). The best hole from this zone returned 2.55 g/t gold over 14 metres. It is open to the north and south with the furthest hole to the south returning 3.95 g/t Au over 3 metres. In-fill drilling is warranted to confirm the resource potential.

A South Zone (Figure 2) - the furthest mineralization identified to the south includes 4 holes over a 200 metre strike and a maximum depth of 40 metres, that remains open in all directions. The results have a weighted average grade of 2.29 g/t gold over a true width of 8.25 metres.

D South Zone (Figure 2) - traced for 200 metres along strike by seven holes that returned up to 5.81 g/t gold over 14 metres true width to a maximum depth of 70 metres. Open to the north and south the results yield an a weighted average grade of 2.33 g/t Au over a width of 10 metres.

D Mid Zone (Figure 2) - Traced for 400 metres along strike to a maximum depth of 90 metres by eight holes returning up to 2.14 g/t gold over 9 metres. Open to the north and south with a weighted average grade of 1.4 g/t gold over true width of 7.0 metres. Drilling is planned to determine if this zone links up with the D South Zone located 400 metres to the south.

SWN1 Zone (Figure 2) - Traced for 100 metres along strike to a maximum depth of approximately 45 metres by four holes returning up to 2.5 g/t gold over 8.0 metres. Open in all directions with a weighted average grade of 1.89 g/t gold over 5.25 metres estimated true width.

Drilling has also returned new mineralization at the F North area with intercepts up to 1.81 g/t Au over 10 metres (Figure 2) and in three areas at the northern end of the Serakoro West area with intercepts of 2.44 g/t Au over 13 metres, 3.84 g/t Au over 4 metres and 1.07 g/t Au over 8 metres. These positive results will require follow-up drilling to determine their extent.

The auger drilling program was extremely successful in identifying new drill targets that in turn have led to meaningful new drill discoveries. Additional auger drilling is planned over some of the target areas and, in portions of know mineralized trends where the current auger line spacing is up to 1.6 km.


Click Image To View Full Size

Figure 1 - Karankasso JV Project - Locations of Select, New 2018 Drill Intercepts.

Figure 2 - Serakoro 1 West Area Phase 2 Drilling 2018 Significant Results

Figure 3 - Karangosso South Target Area


Click Image To View Full Size

Figure 4 - Karangosso South Interpreted Cross Section

QA/QC Comments

Savary's procedure for handling reverse circulation drill chips comprises initial riffle splitting of the rock chips from one metre drill length samples into approximately 2.0-kilogram samples, as well as description and logging into a database. A duplicate 2.0-kilogram sample, prepared at the same time as the assay sample, is kept as a reference for each sample. A sample duplicate and assay blank was inserted sequentially every 5 to 14 samples and an assay standard was inserted every 29 to 34 samples. This results in 7 to 8% of the assayed samples being Savary inserted, reference/blank/control samples. Blanks and duplicates were preferentially inserted in visually mineralized zones to better test the assay results. 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 staff and delivered to BIGS laboratory in Ouagadougou, Burkina Faso where sample preparation and analysis were performed. Each sample was dried, crushed to 75% passing 2 mm and then split to 1.5 kg by rotary splitter. This split was pulverized to 85% passing 75 ?m. Fifty grams of the pulverized material was analysed for gold via fire assay with an atomic absorption spectroscopy (AAS) finish. BIGS institutes a full Quality Assurance/Quality Control (QA/QC) program consisting of insertion of internal blanks, standard reference material, repeats and reject splits which in total account for up to 25% of all determinations conducted. Most standards and blank control samples returned results within expected ranges. Those batches that returned standard values outside an approved range are being re-assayed. None of the re-assayed batches impacted the results presented here-in.

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.

About Savary Gold

Savary is a Canadian exploration company focused on exploring and developing the Karankasso Gold Project in Burkina Faso. The Company holds an approximate 73.5% joint venture ownership and is the operator of the project. The Project is located within the Hounde Greenstone Belt, which hosts Semafo's Mana mine, Roxgold's Yaramoko Mine and Endeavor's Hounde Mine. The Project contains an Inferred mineral resource estimate (November 2, 2017, open pit constrained1) of 12.3 million tonnes (Mt) grading 2.03 g/t gold for 805,000 ounces. For additional information please visit our website at www.savarygold.com.

For more information, please contact:

Don Dudek, President and CEO

T: 647-259-2097

E: info@savarygold.com; www.savarygold.com

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 details of the potential value growth of the JV, the upside of the property, the drill program, the company's exploration plans and the timing of results, the focus on existing drill targets and new targets as well as the potential and likelihood of expanding or upgrading current estimated mineral resources. 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 statement 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.

Table 1 - Summary of Significant Intercepts from the Phase 2, 2018 drill program

Hole Id

From

To

Width

Au g/t

Target Area

RC-18-14

35

37

2

0.81

Karangosso South zone

RC-18-14

56

61

5

2.83

Karangosso South zone

RC-18-14A

18

19

1

0.67

Karangosso South zone

RC-18-14A

39

40

1

0.53

Karangosso South zone

RC-18-14A

55

56

1

0.95

Karangosso South zone

RC-18-14A

63

69

6

1.36

Karangosso South zone

RC-18-14A

99

102

3

2.66

Karangosso South zone

RC-18-15

12

14

2

1.74

Karangosso South zone

RC-18-15

29

30

1

9.61

Karangosso South zone

RC-18-15

40

41

1

1.21

Karangosso South zone

RC-18-15

65

71

6

4.12

Karangosso South zone

RC-18-15

79

81

2

2.44

Karangosso South zone

RC-18-15

106

107

1

1.39

Karangosso South zone

RC-18-16

10

11

1

1.10

Karangosso South zone

RC-18-17

90

100

10

0.26

Sera West - D South zone

RC-18-18

NSV

Sera West - D South zone

RC-18-19

15

32

17

0.52

Sera West - D mid zone

Incl.

29

32

3

1.07

RC-18-20

34

35

1

1.41

Sera West

RC-18-21

17

18

1

0.58

Sera West

RC-18-21

45

59

14

0.42

Sera West - SWA Lens

Incl.

46

48

2

1.20

Sera West - SWA Lens

RC-18-21A

28

61

33

0.32

Sera West - SWA Lens

Incl.

53

56

3

1.40

Sera West - SWA Lens

85

100

15

0.17

Sera West - SWA Lens

115

126

11

0.26

Sera West - SWA Lens

RC-18-22

91

102

11

1.00

Sera West

RC-18-23

77

83

6

1.37

Sera West - D mid zone

RC-18-24

106

123

17

0.47

Sera West - SWA Lens

Incl.

106

114

8

0.79

Sera West - SWA Lens

RC-18-25

64

88

24

0.68

Sera West - SWA Lens

incl

65

69

1.37

4.00

RC-18-25

136

148

12

0.28

Sera West - SWA Lens area

RC-18-26

15

43

28

0.26

Sera West - SWA Lens

RC-18-26

49

50

1

0.54

Sera West - SWA Lens area

RC-18-27

102

103

1

0.86

Sera West - SWA Lens area

RC-18-27

117

123

6

0.60

Sera West - SWA Lens

RC-18-27

127

128

1

0.73

Sera West - SWA Lens area

RC-18-27

173

174

1

0.79

Sera West - SWA Lens area

RC-18-28

30

40

10

1.24

Sera West - SWA Lens

Incl.

30

32

2

5.24

Sera West - SWA Lens

RC-18-28

117

118

1

0.56

Sera West - SWA Lens area

RC-18-28

124

125

1

1.26

Sera West - SWA Lens area

RC-18-29

36

37

1

0.51

Sera West - D South zone area

RC-18-29

52

55

3

1.35

Sera West - D South zone

RC-18-29

67

68

1

0.82

Sera West - D South zone area

RC-18-30

97

98

1

0.52

Sera West - SWA Lens area

RC-18-30

115

127

12

0.55

Sera West - SWA Lens

RC-18-30

157

159

2

0.60

Sera West - SWA Lens area

RC-18-31

94

95

1

1.11

Sera West

RC-18-32

NSV

Sera West

RC-18-33

2

3

1

1.13

Sera West

RC-18-33

20

21

1

0.81

Sera West

RC-18-33

55

56

1

1.18

Sera West

RC-18-33

74

75

1

1.29

Sera West

RC-18-33

107

108

1

0.52

Sera West

RC-18-34

NSV

Sera West

RC-18-35

25

29

4

0.59

Sera West - SWA Lens

RC-18-36

16

18

2

0.70

Sera West - SWA Lens

RC-18-36

75

82

7

1.01

Sera West - SWA Lens

Incl.

75

77

2

2.24

Sera West - SWA Lens

RC-18-36

80

82

2

0.69

Sera West - SWA Lens

RC-18-36

93

94

1

0.56

Sera West - SWA Lens

RC-18-36

100

102

2

0.58

Sera West - SWA Lens

RC-18-37

108

142

34

0.67

Sera West - SWA Lens

Incl.

108

131

23

0.86

Sera West - SWA Lens

Incl.

108

113

5

1.21

Sera West - SWA Lens

Incl.

123

131

8

1.25

Sera West - SWA Lens

RC-18-38

49

50

1

0.50

Sera West

RC-18-38

61

67

6

0.47

Sera West

RC-18-39

9

13

4

1.08

Sera West - D mid zone

RC-18-40

32

33

1

0.62

Sera West

RC-18-41

80

89

9

0.55

Sera West

RC-18-41

129

130

1

1.26

Sera West

RC-18-42

38

45

7

0.34

Sera West

incl.

40

41

1

0.80

Sera West

57

59

2

0.61

Sera West

74

75

1

0.58

Sera West

110

111

1

1.48

Sera West

RC-18-43

28

29

1

0.59

Sera West

31

32

1

0.73

Sera West

75

76

1

0.58

Sera West

RC-18-44

42

43

1

1.09

Sera West

69

70

1

1.04

Sera West

85

88

3

1.04

Sera West

RC-18-45

42

44

2

0.68

Sera West

RC-18-46

17

29

12

0.62

Sera West

incl.

20

23

3

1.67

Sera West

77

90

13

0.33

Sera West

incl.

80

82

2

0.72

Sera West

112

124

12

0.32

Sera West

incl.

113

114

1

0.74

Sera West

incl.

115

116

1

0.61

Sera West

AC-18-052

33

34

1

0.53

AC-18-053

26

28

2

1.00

AC-18-054

45

50

5

0.55

AC-18-055

NSV

AC-18-056

20

21

1

0.32

AC-18-057

NSV

AC-18-058

NSV

AC-18-059

NSV

AC-18-060

38

48

10

1.93

Sera West - F North Zone

AC-18-061

28

30

2

0.61

AC-18-061

NSV

AC-18-062

34

47

13

0.57

AC-18-063

NSV

AC-18-064

8

17

9

2.78

Sera West - A South Zone

AC-18-065

19

21

2

0.47

AC-18-066

NSV

AC-18-067

NSV

AC-18-068

NSV

AC-18-069

NSV

AC-18-070

NSV

AC-18-071

NSV

AC-18-072

NSV

AC-18-073

11

15

4

2.76

AC-18-073

20

26

6

0.89

AC-18-073

31

33

2

3.45

AC-18-074

15

22

7

0.75

AC-18-074

28

29

1

2.17

AC-18-075

21

26

5

0.54

AC-18-076

25

38

13

1.40

AC-18-077

10

24

14

5.81

Sera West - D South Zone

Incl.

8

9.29

Sera West - D South Zone

Incl.

1

57.63

Sera West - D South Zone

AC-18-078

5

12

7

0.96

AC-18-079

28

56

28

1.81

Karangosso South zone

AC-18-080

8

18

10

0.45

Karangosso South zone

Incl.

12

16

4

0.69

Karangosso South zone

AC-18-080

39

48

9

1.13

Karangosso South zone

incl.

2

1.80

Karangosso South zone

AC-18-081

13

17

4

1.94

Karangosso South zone

AC-18-081

22

24

2

6.26

Karangosso South zone

AC-18-081

27

29

2

0.60

Karangosso South zone

AC-18-081

43

54

11

1.26

Karangosso South zone

Incl.

4

2.48

Karangosso South zone

AC-18-082

9

22

13

5.12

Karangosso South zone

AC-18-083

NSV

AC-18-084

NSV

AC-18-085

NSV

AC-18-086

NSV

AC-18-087

NSV

AC-18-088

NSV

AC-18-089

NSV

AC-18-090

NSV

AC-18-091

NSV

AC-18-091

NSV

AC-18-092

NSV

AC-18-093

NSV

AC-18-094

NSV

AC-18-095

NSV

AC-18-096

28

31

3

1.79

Sera West North

AC-18-096

41

49

8

1.07

Sera West North

AC-18-097

NSV

Sera West North, Best 0.13 g/t Au/1 m

AC-18-098

NSV

Sera West North, Best 0.10 g/t Au/1m

AC-18-099

19

22

3

1.95

Sera West North - SWN1 Zone

AC-18-099

33

34

1

1.07

Sera West North

AC-18-100

38

44

6

1.54

Sera West North - SWN1 Zone

AC-18-101

NSV

Sera West North

AC-18-102

13

14

1

0.58

Sera West North,

AC-18-103

20

21

1

0.73

Sera West North,

AC-18-103

36

38

2

2.07

Sera West North,

AC-18-104

NSV

Sera West North

AC-18-105

NSV

Sera West North

AC-18-106

NSV

Sera West North

AC-18-107

40

41

1

0.67

Sera West North

AC-18-108

NSV

Sera West North

AC-18-109

NSV

Sera West North

AC-18-110

35

36

1

3.07

Sera West North

AC-18-111

NSV

Sera West North

AC-18-112

8

12

4

3.84

Sera West North (new)

AC-18-112

27

29

2

2.35

Sera West North (new)

AC-18-113

10

11

1

3.28

Sera West North (new)

AC-18-114

8

9

1

2.81

Sera West North

AC-18-114

40

43

3

1.42

Sera West North (new)

AC-18-114

49

50

1

0.95

Sera West North

AC-18-115

NSV

Sera West North

AC-18-116

NSV

Sera West North

AC-18-117

NSV

Sera West North

AC-18-118

13

14

1

50.85

Sera West North (new)

AC-18-118

20

33

13

2.44

Sera West North (new)

AC-18-119

32

39

7

0.36

Sera West North

AC-18-120

23

50

28

0.35

Sera West North

incl

24

27

3

0.74

incl

34

36

2

0.98

incl

48

49

1

0.82

AC-18-121

12

20

8

0.67

Sera West North

AC-18-122

NSV

Sera West

AC-18-123

47

54

7

1.10

Sera West - F North Zone

incl

47

50

3

2.03

AC-18-124

NSV

Sera West

AC-18-125

18

19

1

0.52

Sera West

AC-18-126

NSV

Sera West

AC-18-127

12

18

6

0.77

Sera West - F North Zone

AC-18-128

NSV

Sera West

AC-18-129

NSV

Sera West

AC-18-130

44

49

5

0.84

Sera West

AC-18-131

11

14

3

3.95

Sera West - SWA Lens

AC-18-132

38

48

10

1.67

Sera West - A South Zone

incl

42

48

6

2.58

AC-18-133

25

33

8

3.09

Sera West - A South Zone

incl

27

32

5

4.66

AC-18-134

12

18

6

1.53

Sera West - A South Zone

incl

16

18

2

2.52

53

54

1

0.65

* true widths are estimated at 70% to 100% of drilled widths

Copyright (c) 2018 TheNewswire - All rights reserved.


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