Savary Gold Corp (TSXV:SCA) has announced an updated Inferred Mineral Resource Estimate for its Karankasso JV Project (69.5% SCA/30.5% SWA), in Burkina
Faso. After a 23,170m drill program from May 2016 to July 2017, the company increased their resource estimate to 12.3Mt grading 2.03 g/t Au for 805,000
oz Au, which represents a 34% increase in tonnage, an 11% decrease in grade and a 20% increase in ounces compared to their last estimate. All mineralized
zones remain open in at least two directions and there remains potential for discovery within a the 6.5km radius that is currently encompassing 70%
of the pit constrained resources at Karankasso. The company indicated that mineralization continues to extend beyond pit-constrained limits at all
zones and therefore warrants further testing and expansion of the higher grade underground Mineral Resource. The underground and open pit inferred
resources are 0.42Mt grading 3.57 g/t Au and 11.9Mt grading 1.97g/t Au, respectively. Through further drilling, the company is planning to continue
to expand the mineralized zones and explore the remainder of the mineralized corridor transecting the project. Savary currently trades at a discount
to peers (C$15/oz vs. peers at C$47/oz), we expect continued exploration success on the property to benefit the company’s share price in the near term.
Derek Macpherson | VP Mining Analysis
Victoria Ellis Hayes | Associate
Alex Pitcher | Associate
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Company Specific Disclosure Details
Sarama Resource Ltd. - TSXV:SWA - 2,3,4
Savary Gold Corp. - TSXV:SCA - 3,4,6,7
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