Sarama intersects 7.57 g/t gold over 21 metres of at Sanutura, Burkina Faso

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Sarama Resources Ltd. [SWA-TSXV; SRR-ASX] reported exploration drilling at 100%-owned Sanutura project in southwest Burkina Faso has intersected new high-grade mineralization and identified extensions to selected lodes at the MM prospect within the Tankoro deposit.

The new mineralization is located near-surface in oxide material outside the current Mineral Resource and has potential to enhance open pit stripping ratios in any eventual mine development. Sarama intends to pursue these types of targets in upcoming drill programs.

The reported drilling totals 2,200 metres and represents the fifth discovery of new mineralization in the ongoing +50,000-metre program, which was designed to increase the oxide component of the Project’s 0.6Moz gold (Indicated) plus 2.3Moz gold (Inferred) Mineral Resource.

Highlights: New, high-grade mineralization intersected from surface and outside the modelled Mineral Resource at the MM Prospect

Highlighted downhole intersections from new assays include 21 metres of 7.57 g/t gold from surface in TAA359; 15 metres of 2.48 g/t gold from 15 metres in TAR041; 13 metres of 1.41 g/t gold from 21 metres in TAR042; 13 metres of 1.36 g/t gold from 29 metres in TAR040; and 30 metres of 0.84 g/t gold from 8 metres in TAA411.

Intersections are in shallow, oxide material with high potential to add to the oxide and transition component of the Mineral Resource, currently standing at 0.2Moz gold (Indicated) plus 0.8Moz gold (Inferred).

Identification of new mineralization proximal to the existing Mineral Resource will enhance project economics

Results continue to support the thesis that potential remains for significant new discoveries close to known mineralization

Results from the final suite of assays in the Q2/Q3 2022 program will be announced later this quarter. Follow-up drilling, including greenfields exploration drilling, expected to commence in 2023.

Andrew Dinning, President, CEO and MD, commented:

“We are very pleased with the quality of results from the Q2/Q3 2022 exploration program. As per previous releases, these most recent results continue to illustrate the potential for new discoveries within the Tankoro Deposit’s very large and prospective mineralised corridor. We look forward to completing the current drill program and following-up the multitude of exciting discoveries made so far.”

The Project has significant growth potential and the primary objective of the current +50,000-metre drill program is to increase the existing 0.2Moz Au (Indicated) plus 0.8Moz gold (Inferred) oxide and transition component of the project’s Mineral Resource to enhance the economics of mine development.

The recent drill program has generally focused on shallow additional and extensional targets throughout the well-mineralized corridor, where mineralization has been drill-defined for a semi-continuous strike length of 16km and where potential exists to expand the Mineral Resource at shallow depths in oxide material.

Sarama Resources is a West African focused gold explorer/developer with substantial landholdings in south-west Burkina Faso. Sarama is focused on maximizing the value of its strategic assets and advancing its key projects towards development.

Sarama’s Sanutura Project is principally located within the prolific Hounde Greenstone Belt in southwest Burkina Faso and is the exploration and development focus of the company. The project hosts the Tankoro and Bondi deposits which have a combined Mineral Resource of 0.6Moz gold (Indicated) plus 2.3Moz gold (Inferred).

Together, the deposits present a potential mine development opportunity featuring an initial, long-life CIL project which may be established and paid for by the significant oxide Mineral Resource base.

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