Bakra is earning a 50% stake in the 1,500-acre property from privately-owned affiliate Orenada Resources and has spent about $150,000 on exploration so far. Located next to Rea Gold Corp.’s (TSE) Bissett project, Sannorm is part of a large land package controlled by the Homestead group of Vancouver.
Based on recent drilling results, over-all reserves stand at 200,000 tons of grade 0.122 oz (including 117,000 tons of 0.158 oz) to a depth of 500 ft.
According to Bakra, the zone has a single tabular geometry with a strike length of 300 ft, an average true width of 14 ft and widths of up to 23 ft in the central section of the zone.
“It is believed that a significant portion of the known reserves are amenable to open pit mining,” Bakra said.
All reserves at Sannorm have been developed within a 300-ft strike length of the A zone which has a known strike length of 2,300 ft and has been intersected to a depth of 1,200 ft, the company said.
The company says that reserves could be expanded with additional higher grade lenses within the overall A zone. Future drill programs will attempt to develop near-surface reserves within the A zone.
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