Sarama Resources acquires exploration properties in West Africa

29 August 2012 (Last Updated August 29th, 2012 18:30)

Canadian mining company Sarama Resources has acquired two exploration properties, Nyarafo and Noumoudara, covering an area of 338km² in West Africa.

Gold exploration in Africa

Canadian mining company Sarama Resources has acquired two exploration properties, Nyarafo and Noumoudara, covering an area of 338km² in West Africa.

The properties are located on the prospective Banfora Belt in south-western Burkina Faso, adjacent to the company's Tiéfora Nord exploration property.

With this latest acquisition, Sarama now owns around 3,100km² of land in Burkina Faso.

Exploration permits covering both areas are set to expire on 4th July 2014 and the extension of permits is subject to the discretion of the Burkina Faso government.

Sarama Resources may convert the exploration permits to exploitation permits, depending on exploration at the end of the final terms.

In 2007, the company carried out exploration work on both properties, including limited soil geochemistry surveys, trenching and rotary-air-blast drilling across 4,400m through a vendor, in addition to scout RC drilling over 2,300m in 2011.

Fieldwork is expected to begin in the upcoming exploration season with a focus on completing the soil geochemistry surveys across the permit area and verification of earlier findings.

Sarama president and CEO Andrew Dinning said that the acquired properties were found to be prospective and under-explored from previous preliminary exploration work.

"The proximity of the Banfora properties to our South Houndé Project adds to the attractiveness of the acquisition and we look forward to undertaking further work in the zones of mineralisation identified in historical exploration," Dinning added.


Image: Sarama Resources will begin further exploration for gold at the new properties. Photo: Paul Heinrich