The Government of Burkina Faso, West Africa, has reportedly issued Sarama Resources, gold explorer and developer, a new Exploration Permit covering the underexplored Gbingue 2 Property in south-western Burkina Faso. This follows the recent re-issue of the Djarkadougou ll Permit, which hosts the high-grade Bondi Deposit.
The Property is part of the Company’s 100%-owned Sanutura Project which covers approximately 1 500km² and is located within the prolific Houndé Belt in south-western Burkina Faso. The Project hosts the Tankoro Deposit, with a mineral resource of 0.6Moz Au (indicated) and 1.9Moz Au (inferred) (1,5) , and the Bondi Deposit, which has a historical estimate of mineral resources of 0.3Moz Au (measured and indicated) and 0.1Moz Au (inferred) (3). These deposits contain a substantial amount of high-grade and free-milling material which has the potential to support a low capital intensity, staged mine development.
The new Permit, a re-issue of the previously expired Gbingue Exploration Permit, covering an area of approximately 28km², is valid for an initial term of 3 years, renewable for a further two 3-year terms, subject to satisfaction of routine conditions regarding execution of work programs and minimum expenditure thresholds. The property is prospective for gold.
Andrew Dinning , Sarama’s President and CEO, says, “We are pleased to have the new Gbingue 2 Exploration Permit issued. This follows the recent issuance of the Djarkadougou 2 Exploration Permit which hosts the Bondi Deposit and is a key component of the Sanutura Project. We look forward to re-commencing exploration programs at the Project, which will focus on the many oxide and free-milling targets that we have generated.”