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Friday, November 03, 2017 Derek Macpherson

SCA Increases Inferred Resource at Karankasso

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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.  read more


Tuesday, September 12, 2017 Derek Macpherson

SWA Delivers First Results Near Bondi

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Sarama Resources (TSXV:SWA) reported results from the company’s first drill program, intersecting oxide gold mineralization ~4km north-east of its recently acquired Bondi Deposit within its ThreeBee Project in Burkina Faso. In total, 82 holes were drilled over 2,800m, surface highlights include 1.50 g/t Au over 8m (DJA0061) and 1.07 g/t Au over 27m (DJA0060) (Figure 1). The company plans to follow-up on these results, in addition to using historical data to identify targets. Initial results appear positive and have to potential to add to the historical resources at Bondi. Sarama currently trades at C$10/oz, a steep discount to peers at C$51/oz. We expect that the ongoing exploration at South Houndé (50% interest) and Karankasso (30.5% interest), along with work at its ThreeBee project (100% interest), may provide the necessary catalysts for the stock to close the valuation gap to peers. read more


Sunday, August 27, 2017 Derek Macpherson

SCA Discovers New Zones & Extends Mineralization at Karankasso

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Savary Gold Corp (TSXV:SCA) reported results from multiple targets tested during Phase 3 of the exploration program at its Karankasso JV Project (69.5% SCA/30.5% SWA), in Burkina Faso. 109 holes were drilled over 6,747m which tested the Karangosso Zone, Serakoro 1 West, Diosso South Zone, Kueredougou West Zone, Serakoro 1 Main, Central Auger Anamoly and S-Nosa Zone. Notably, drilling in Karangosso discovered two new zones (AC-17-029 and AC-17-036) and further extended mineralization in the south and north, both of which require follow-up. In the Serakoro 1 West, drilling also identified a new zone intersecting 2.78 g/t Au over 5m (AC-17-064). The company noted some targets were not successfully tested due to weather, as well as follow-up drilling was minimal as a result of lab delays. A resource update is expected to be completed at the end of Q3 2017, which will include drilling since the last resource update in Q4 2015 (Inferred 671k oz Au). Additional drilling is planned once the update is complete. Savary currently trades at a discount to peers (C$16/oz vs. peers at C$49/oz), we expect continued exploration success along with the planned resource update should benefit the company’s share price in the near term. read more


Friday, August 18, 2017 Derek Macpherson

SWA Grows South Houndé at Depth & Along Strike

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Sarama Resources (TSXV:SWA) reported final results for the H1 2017 drill program at South Houndé. The program was designed to test the depth and strike extensions of the high-grade shoots within the orebody to expand the existing open-pit resource and test the potential for underground mining. Deeper holes were highlighted by 10.4m at 3.96 g/t gold and 4.1m at 3.89 g/t gold and extended the MC and MM deposits to a depth of 500m and 550m respectively. This depth extension suggests an underground mining scenario could be possible. As well, some near surface air core drilling was completed in an effort to expand resources at surface, which was highlighted by 8m at 2.46 g/t gold. Sarama currently trades at C$12/oz, a steep discount to peers at C$49/oz. We expect that the ongoing exploration at South Houndé (50% interest) and Karankasso (30.5% interest), along with work at its ThreeBee project (100% interest), may provide the necessary catalysts for the stock to close the valuation gap to peers.  read more


Friday, July 07, 2017 Derek Macpherson

SWA's Initial Exploration Work at Botoro Shows Promise

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Sarama Resources (TSXV:SWA) has reported results from initial exploration work completed at its Botoro property in Burkina Faso. Three 2-3km zones were identified within a 10km-long structural corridor, through a soil geochemical survey, which also returned a high-grade surface sample of 4.4 g/t Au. The company is planning additional work to follow-up on results which will include a soil-infill program and mapping of artisanal workings to define priority targets. Although early days, initial results are promising and highlight the potential for larger exploration at the company’s Threebee property. Sarama currently trades at C$10/oz, a steep discount to peers at C$41/oz. We expect that the ongoing exploration at South Houndé (50% interest) and Karankasso (30.5% interest), along with work at its ThreeBee project (100% interest), may provide the necessary catalysts for the stock to close the valuation gap to peers. read more


Tuesday, June 20, 2017 Derek Macpherson

SWA Intersects High Grades at South Houndé

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Sarama Resources (TSXV:SWA) reported high-grade results from its ongoing drill program at its South Houndé Project in Burkina Faso. 1,300m of RC drilling and 4,500m of diamond drilling (11 holes) have been completed between both the MC deposit and MM deposit (Figure 1) to expand resources and to examine the potential for underground mine development in addition to open pit. Results from the MC deposit were highlighted by 112.3 g/t Au over 0.5m (Hole FR1076RE1) within a wider interval, the highest grade to be intersected at the project (Figure 2). Drilling in the MM deposits highlighted the potential for underground mining with future step-out drilling expected to expand resources by ~200m down-dip (Figure 3). The company continues to drill at the project, with drilling to date supporting mineralization to a depth of 550m. We note, recent acquisitions completed by Sarama in the area, which includes the Bondi deposit and the Botoro property, positions it as a key player in the consolidation of the South Houndé belt. Sarama currently trades at C$9/oz, a steep discount to peers at C$40/oz. We expect that the ongoing exploration at South Houndé (50% interest) and Karankasso (30.5% interest), along with likely work at its ThreeBee project (100% interest), may provide the necessary catalysts for the stock to close the valuation gap to peers. read more


Tuesday, May 16, 2017 Derek Macpherson

SWA Adds More Land in Burkina Faso

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Sarama Resources (TSXV:SWA) announced it will acquire 100% of the Botoro exploration property in southwest Burkina Faso, increasing the size of its ThreeBee project to ~660km2. The ThreeBee project comprises of Sarama’s three wholly owned properties, Bamako, Djarkadougou and Bouni properties, of which the Djarkadougou hosts the Bondi deposit (Figure 1). We view the acquisition positively, as it adds to the company’s regional land package in South Houndé belt and solidifies Sarama’s position as being the key piece for a larger player to consolidate the region. Sarama currently trades at C$13/oz, a steep discount to peers at C$40/oz. We expect that the ongoing exploration at South Houndé (50% interest) and Karankasso (30.5% interest), along with likely work at its ThreeBee project (100% interest), may provide the necessary catalysts for the stock to close the valuation gap to peers. read more


Thursday, May 04, 2017 Derek Macpherson

SCA Continues to Grow Karankasso

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Savary Gold Corp (TSXV:SCA) released final drill results which extended the S-Nosa area and the Kueredougou West Deposit at its Karankasso JV Project (69.5% SCA/30.5% SWA), in Burkina Faso. The S-Nosa area results intersected strong mineralization for the first time ~425m east of the north end of the Keuredougou resource estimate. In addition, the company intersected a 100m step out hole of 2.96 g/t Au over 7m, along strike and to the north end of the Kueredougou West Zone, which has been extended by ~50% to a strike length of ~2,700m. The results were part of a ~9,500m Phase 2 drill program completed at the end of March, which will be followed up by a 8,000m (125 holes) drill program in mid-May. The objective is to pursue new discoveries, grow the current resource and test the gold-in-auger anomalies identified during Phase 2. We believe the results of the upcoming Phase 3 program should further demonstrate Karankasso’s resource growth potential. Savary currently trades at a discount to peers (C$23/oz vs. peers at C$42/oz), we expect continued exploration success along with a resource update planned for H2 2017, should benefit the company’s share price. read more


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