VANCOUVER (miningweekly.com) – West Africa-focused gold explorer Sarama Resources has appointed 30-year certified practising accountant Lui Evangelista as its CFO, replacing Nick Longmire who has resigned to pursue personal interests.
Evangelista brings 30-years’ experience to the position, and president and CEO Andrew Dinning Wednesday touted Evangelista’s extensive experience operating in Francophone Africa and his wider industry experience as an invaluable as the company continues to progress its assets toward development.
Sarama is mainly focused on the South Houndé project, in Burkina Faso, where Acacia Mining is funding $14-million of exploration over four years to earn a 70% interest, with an option on a further 5% when it has declared a 1.6-million-ounce gold reserve. The South Houndé project currently holds an inferred resource of about 2.1-million ounces grading 1.5 g/t at a cutoff grade between 0.3 g/t and 2.2 g/t. At a cutoff grade of 1.6 g/t, the resource totals 1.1-million ounces grading 2.7 g/t.
Sarama has recommenced field exploration activity in November, planning to undertake a 6 000-m AC programme and a 1 100-m diamond drill programme during November and December.
The South Houndé project is in the Houndé belt, which hosts other significant deposits, including Semafo’s Mana gold mine, Roxgold’s Yaramoko gold mine and Endeavour Mining’s Houndé gold project.
The company also has a 30.5% interest in the Karankasso project joint venture with Savary Gold, with Savary as the operator. The Karankasso project hosts a maiden inferred resource of 9.16-million tonnes grading 2.28 g/t gold for 670 000 oz, at a 0.5 g/t cutoff, and is situated next to the South Houndé project.