JOHANNESBURG (miningweekly.com) – Africa-focused gold explorer Sarama Resources has completed the first phase of its $3.5-million 2016 exploration campaign on the 2.1-million-ounce South Houndé gold project, in Burkina Faso.
The exploration programme included geochemical and geophysical surveys, as well as aircore, reverse circulation and diamond drilling.
The work formed part of a multifaceted exploration programme funded by Acacia Mining under an earn-in agreement with Sarama and included drilling, geological studies, as well as geochemical and geophysical surveys.
Near-field exploration identified potential for higher-grade mineralised cross structures within the main Tankoro structural corridor.
“The newly identified cross structures have introduced the potential to upgrade resources at the project. We look forward to receiving the final results from the programme, which should further build on the current mineral resource base of 2.1-million ounces of gold,” said Sarama CEO Andrew Dinning.
The second-quarter exploration drilling programme would start in late April.
Under the terms of the earn-in agreement with Sarama, Acacia could earn up to a 70% interest in the South Houndé project by funding exploration expenditures of up to $15-million.