Savary Begins New Drilling Campaign at Hounde South
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 03/27/13 -- SAVARY GOLD CORP. ("Savary" or the "Company") (TSX VENTURE: SCA) is pleased to announce the commencement of the second phase of its on-going drilling program on its Hounde South property, located in southwestern Burkina Faso. The current phase of this $1.4 million program is aimed at investigating six high priority targets with up to 4,600 metres of reverse circulation (RC) drilling. The program will also involve the collection of approximately 4,600 samples, as well as geological mapping and prospecting.
"We are very pleased to once again be drilling at Hounde South," stated Charles Mostert, Savary Gold's President and CEO. "The encouraging results acquired during our first phase of drilling have enabled us to fine-tune our exploration model and have aided in the identification and prioritization of the most prospective areas for drilling during this next phase."
The Hounde South property consists of two exploration licences, Diosso and Mandiasso, totaling 375 square kilometres, and is located in the Birimian Greenstone Belt of West Africa, currently the fastest growing gold producing area in the world.
Drilling is conducted by Major Drilling Burkina Faso SA and SGS Burkina Faso SA will be responsible for laboratory analysis, both of whom are independent of Savary Gold.
Robin Black, M.Sc., P. Geo., a consulting geologist of the Company and a Qualified Person as defined by National Instrument 43-101, has reviewed and approved the technical information contained in this news release.
About Savary Gold
Savary Gold is a Canadian company with a tightly held capital structure and totally 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 which are presently subject to extensive exploration efforts (including Endeavour Mining's Hounde Project and Sarama's South Hounde Project).
SAVARY GOLD CORP.
On behalf of the Board
Charles Mostert, 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 next phase of the Company's exploration program 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 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.
Contacts:
Savary Gold Corp.
Konstantine Tsakumis
Investor Relations
604-681-8030 x232
604-681-8039 (FAX)
info@savarygold.com
www.savarygold.com