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Strategies & Market Trends : Dino's Bar & Grill
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To: Goose94 who wrote (6640)7/9/2014 7:51:09 AM
From: Goose94Read Replies (1) of 202925
 
Savary Gold (SCA-V) July 8, '14 has completed the earn-in portion of the option agreement for the Hounde South gold project located in southwest Burkina Faso. The option and earn-in agreement called for Savary to incur $3-million (U.S.) in exploration expenditures and issue Savary Gold shares representing 19.99 per cent of the outstanding share count to Endeavour Mining Corp. These expenditure obligations have been met and the share issuance is expected to take place upon transfer of the concessions to Savary's Burkina Faso exploration subsidiary.

Savary has completed 11,744 metres of drilling in 82 core and reverse circulation holes on its Hounde South property. The latest campaign tested previously recognized gold zones and geochemical and geophysical targets in the Karangosso, Kien and Kueredougou areas. The gold-bearing trends were extended in all three areas, with the best results returned from Kien where at least eight gold-bearing zones were intersected over a large area.

"We are very pleased to have completed the earn-in for the Hounde South property," stated Don Dudek, president and chief executive officer of Savary Gold. "Management is currently modelling the four different mineralized zones in order to prioritize future drilling and more accurately plan drill hole placement. Savary's goal is to define a maiden inferred mineral resource of at least one million ounces."
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