Savary Gold Drill Data Demonstrates Presence of Another Potentially Large, Gold Bearing System Further Emphasizing Exploration Potential of the Hounde South Property
Historic Holes Return 2.90 g/t Gold Over 21.0 Meters
TORONTO, ONTARIO--(Marketwired - Oct 1, 2014) - Savary Gold Corp. (TSX VENTURE:SCA) ("Savary") announce newly documented results of historic drill intercepts on the Kueredougou West zone on the Houndé South property in southwestern Burkina Faso (see figure). The Hounde South property forms part of the recently announced joint venture between Savary (65%) and Sarama Resources Ltd. (35%). Savary is the operator of the joint venture.
A summary of significant results* are as follows:
- 2.90 g/t gold over 22.0 metres - RC hole
- 1.75 g/t gold over 8.0 metres - RC hole
- 1.64 g/t gold over 20.0 meters - RC hole
- 1.42 g/t gold over 14.0 metres - RC hole
- 9.38 g/t gold over 2.0 meters - RC hole
- 1.91 g/t gold over 21.0 metres - RAB hole
- 1.73 g/t Au over 6.0 metres - RC hole
* These results are based on historic drill data that cannot be validated without re-drilling select holes as no reverse circulation chips are available for review. A summary of the assay composites are provided at the end of this release.
Don Dudek, President and CEO of Savary commented "These historic intercepts recently came to our attention during our continued review the property data with a goal toward developing a cost effective exploration program. These new results further emphasize what we perceive is the excellent exploration potential of the Houndé South property. To date we have not found the limits of any of the gold-bearing systems with the major gold-in-soil trends demonstrating the potential extent of individual mineralized trends. Thus it is with confidence that Savary, along with our partners Sarama look forward to validating these results with follow-up holes of our own, further testing and extending the known zones and the discovery of new centres of gold mineralization."
The Kueredougou West zone lies approximately 1.2 kilometres south of the furthest southern holes on the Kueredougou zone (see Figure) which returned drill intercepts of 12.80 g/t Au over 2.0 metres and 4.04 g/t Au over 5.0 metres. Drilling has tested the zone, which consists of up to three modelled, moderate-east-plunging lenses of mineralization, to a maximum depth of 100 metres along a 500 metre strike. True widths are estimated at approximately 90% of drill width. This zone, which was tested by seventeen reverse circulation holes, in 1999 and 2000 by Delta Gold, totalling 1,614 metres, is open in all directions and is either part of the Kueredougou mineralized system, which has been traced for approximately 2,900 metres (see Savary news release May 14, 2014) or a parallel gold system, located 200 to 300 metres to the west. Gold-in-soil geochemical data with values ranging from a low of 50 ppb to a high of 1,888 ppb form a coherent anomaly approximately 5.6 kilometres long and up to 300 m wide. Other than reverse circulation drilling along a 500 metre portion of the gold-in-soil anomalous trend, the majority of the anomaly has not been tested. As well as providing context for the historic drill results presented in this release, the attached figure provides a summary snapshot of the extent of the drill defined gold systems, the resolution of the 0.5 - 1.5 km wide gold-in-soil anomalous corridor, into three to four trends of better mineralization on the Hounde South portion of the property and the potential to extend the modelled gold zones by following the mineralized trends along the gold-in-soil anomalies. A summary of the drill results are presented in a table at the end of this release.
QP comments
The Kueredougou West gold zone results are based on data acquired from exploration companies that were previously active on the Houndé South property. This zone lies on strike with existing mineralization and is consistent in tenor with other gold zones on the property. However, in order to properly validate this occurrence, several twin drill holes will be required as the original reverse circulation drill chips and assay certificates are no longer available.
Drilling results are quoted as downhole intersections. True mineralisation width is expected to be approximately 90% of intersection length for holes drilled on 290° azimuth sections, dipping at -60° to the west and intersecting the north-north-east striking lenses, however the nature of some mineralised units is not well understood.
The reported composites for RC and RAB drilling were determined using a cut-off grade of 0.50g/t Au to select significant and anomalous intersections, with a maximum of 2m internal dilution being incorporated into the composite where appropriate. No top-cuts were applied to assay grades. Isolated mineralised intersections less than 2m in length have not been reported.
The nature of any quality assurance/quality control programs which may have been conducted as part of the original drilling program is not known.
Gold assays for the RC and RAB drilling were most likely determined by fire assay methods, however this cannot be confirmed.
RC drilling was generally designed using 290° azimuth oriented holes, dipping at -60° to the west, approximately 80-120m in length. RC drill cuttings were sampled over regular 1m intervals. RAB drill cuttings were sampled over regular 1m intervals.
About Savary Gold
Savary Gold is a Canadian exploration company, along with partner, Sarama Resources Ltd., 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 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.
1999, 2000 Kueredougou West Assay Composites
| Hole # | FROM | TO | LENGTH | Au_g/t | |||
| BRRC005 | 0.00 | 22.00 | 22.00 | 2.90 | |||
| BRRC005 | 38.00 | 40.00 | 2.00 | 2.40 | |||
| BRRC006 | 0.00 | 2.00 | 2.00 | 0.60 | |||
| BRRC006 | 28.00 | 32.00 | 4.00 | 0.84 | |||
| BRRC006 | 54.00 | 58.00 | 4.00 | 1.49 | |||
| BRRC006 | 68.00 | 70.00 | 2.00 | 1.72 | |||
| BRRC006 | 78.00 | 80.00 | 2.00 | 1.06 | |||
| BRRC013 | 18.00 | 26.00 | 8.00 | 1.61 | |||
| BRRC013 | 40.00 | 60.00 | 20.00 | 1.64 | |||
| BRRC038 | 26.00 | 28.00 | 2.00 | 0.58 | |||
| BRRC038 | 40.00 | 44.00 | 4.00 | 1.46 | |||
| BRRC039 | 74.00 | 78.00 | 4.00 | 0.91 | |||
| BRRC039 | 110.00 | 112.00 | 2.00 | 0.62 | |||
| BRRC040 | 0.00 | 2.00 | 2.00 | 1.15 | |||
| BRRC040 | 10.00 | 18.00 | 8.00 | 1.75 | |||
| BRRC041 | 0.00 | 2.00 | 2.00 | 4.66 | |||
| BRRC041 | 76.00 | 78.00 | 2.00 | 1.97 | |||
| BRRC041 | 88.00 | 94.00 | 6.00 | 0.53 | |||
| BRRC042 | 8.00 | 22.00 | 14.00 | 1.42 | |||
| BRRC042 | 30.00 | 32.00 | 2.00 | 9.38 | |||
| BRRC043 | 26.00 | 30.00 | 4.00 | 4.59 | |||
| BRRC043 | 44.00 | 52.00 | 8.00 | 1.04 | |||
| BRRC043 | 56.00 | 60.00 | 4.00 | 3.75 | |||
| BRRC044 | 8.00 | 10.00 | 2.00 | 0.77 | |||
| BRRC044 | 70.00 | 72.00 | 2.00 | 2.11 | |||
| BRRC044 | 82.00 | 84.00 | 2.00 | 0.89 | |||
| BRRC045 | 84.00 | 86.00 | 2.00 | 0.50 | |||
| BRRC045 | 96.00 | 98.00 | 2.00 | 0.55 | |||
| BRRC045 | 112.00 | 116.00 | 4.00 | 0.79 | |||
| BRRC046 | 16.00 | 20.00 | 4.00 | 1.81 | |||
| BRRC047 | 46.00 | 52.00 | 6.00 | 1.73 | |||
| BRRC048 | 62.00 | 64.00 | 2.00 | 0.52 | |||
| BRRC049 | 6.00 | 10.00 | 4.00 | 0.91 | |||
| BRRC049 | 16.00 | 18.00 | 2.00 | 3.38 | |||
| BRRC050 | 20.00 | 22.00 | 2.00 | 1.89 | |||
| BRRC050 | 56.00 | 58.00 | 2.00 | 0.83 | |||
| BRRC050 | 66.00 | 70.00 | 4.00 | 1.38 | |||
| BRRC051 | 68.00 | 76.00 | 8.00 | 1.01 | |||
| BGRB020* | 0.00 | 21.00 | 21.00 | 1.91 |
* Rotary Air Blast or RAB hole
To view the Figure associated with this release, please visit the following link: http://media3.marketwire.com/docs/970707.pdf
Contact
Savary Gold Corp.
Michael McAllister
Manager, Investor Relations
416-309-2134
info@savarygold.com
www.savarygold.com