posted
NEWS SARISSA RES INC (U-SRSR) - News Release Sarissa Drilling Update on Nemegosenda Carbonatite Property
2008-12-10 10:00 ET - News Release
BAY CITY, MI -- (MARKET WIRE) -- 12/10/08
Sarissa Resources, Inc., ("Sarissa" or the "Company") (PINKSHEETS: SRSR) is pleased to provide this update on the 2008 Phase One diamond drilling program of the main D zone on its Lake Nemegosenda Carbonatite property near Chapleau in Northern Ontario. The drilling follows closely on the positive results obtained from samples taken over the past 6 months.
The first hole, DDH-208-08-69, completed upon reaching a vertical depth of 200 metres. The drill core has been transferred to Kirkland Lake where it is being logged and split in preparation for assaying. In addition, Sarissa's geologist will be conducting a more detailed radiometric analysis on the core using a hand-held scintillometer. During the drilling, random readings of the core with the scintillometer returned up to 96 counts per second ("cps"), against background readings of approximately 15 cps.
Readers are cautioned that scintillometer readings are not directly or uniformly related to grades of the rock samples measured and should be used only as a preliminary indication of the presence of radioactive materials. Sarissa uses scintillometer readings as a reliable guide for its continuing exploration program. For general comparisons of scintillometer cps readings vs. assay results, please review results posted at Sarissa's website comparing historical results.
The drill has been moved to the 2nd planned location and is targeted to complete by the end of this week. This hole is targeted to go to a vertical depth of 250 metres to test for depth extension of the mineralized zone.
The current drilling program has been designed to test the historically reported niobium inferred resource, initially identified and extensively explored by Dominion Gulf Company ("Gulf"), and subsequently written up in numerous Ontario Geological Survey reports. Gulf's extensive exploration and development work was conducted in the late 1950s and 1960s, and Gulf calculated the reserves in the main D Zone to be 20,000,000 tons of 0.47% Nb2O5 material in an area of 600 feet by 800 feet and to a depth of 600 feet*.
The company looks forward to keeping our shareholders informed in the coming weeks through timely updates.
* These reported resources are historical in nature and, therefore, not compliant with National Instrument 43-101 reporting standards; however they are considered material to the prospectivity of the Nemegosenda Project. A "qualified person," as defined under NI-43-101, has not done sufficient work to comment on the relevance or reliability of these historical estimates. The company is not treating the historical estimate as, nor can the historical estimates be relied upon as, current mineral resources or reserves. Sarissa currently does not have access to more recent estimates or data relating to the Lake Nemegosenda property, except as outlined in this and previous news releases.
Alan Hawke, BSc. MSc. (Geology), a director of Sarissa, is a "qualified person" within the meaning of National Instrument 43-101 and has reviewed the technical information contained in this news release.
About Sarissa Resources
Sarissa Resources is a junior exploration company with interests in properties with base metal, precious metal, uranium, niobium and rare-earth prospects in Northern Ontario, Canada.
Safe Harbor
This press release contains statements which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of Sarissa Resources, Inc., and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-statements include fluctuation of operating results, the ability to compete successfully and the ability to complete before-mentioned transactions. The company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.
Watch the drilling and testing videos. SRSR is currently in a drilling program for Niobium, Tantalum and Rare Earth Minerals. The Niobium market, in particular, has held very strong throughout the commodities sell-off this year.
Niobium's primary use is in steel production. Tantalum is used significantly in technology products like cell phones and computers. Rare Earth minerals are used in flat panel televisions and computer monitors, amoung other things.:
Call Investor Relations. The guy is very helpful and will do his best to answer your questions. I called him first thing and was surprised at his professionalism and knowledge of mining.
Investor Relations:
Merle Goertz
604-688-2349
-------------------- Love 'em or Leave 'em either way I already did it. Posts: 801 | Registered: Jul 2006
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Could there be a joint venture or some type of affiliation at some point with Teck Cominco? Why Teck Cominco? Well Sarissa's CEO Scott Keevil is part of a three generation mining family. Norman Keevil who happens to be Scott Keevil's father is the current Chairman of the Board of Teck Corporation. Yes TECK (NYSE: TCK) the company that just completed the $14 billion ($12.4 billion in cash) purchase of Fording Canadian Coal Trust.
Keep in mind that Teck Cominco has mining, production and refining interests in Niobium. With the potential shown in the Gulf Drill Logs, and the Hawk Comsulting report in May, Sarissa Resources (SRSR) could be sitting on a fortune. Based on a recent quote of Niobium at $24 a lb the potential of over $4 billion in Niobium alone could be there. Also lets not forget the other metals such as Uranium, Tantalum etc mentioned in the report too.
SRSR is now preparing to drill the area to validate and confirm the claims from the reports.
Let the drilling begin!
-------------------- Love 'em or Leave 'em either way I already did it. Posts: 801 | Registered: Jul 2006
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Sarissa Resources, Inc. Announces Nemegosenda Project Drill Results Jan 13, 2009 10:13:00 AM Email Story Discuss on ZenoBank
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BAY CITY, MI -- (MARKET WIRE) -- 01/13/09 -- Sarissa Resources, Inc. ("Sarissa" or the "Company") (PINKSHEETS: SRSR) has received the assay results from hole DDH-08-69, the first hole of the current diamond drilling program in the main D Zone on the Lake Nemegosenda Carbonatite property near Chapleau in Northern Ontario. The program is aimed at confirming and increasing geological confidence in the historically reported resources on this property. 68 holes had previously been drilled on the property by Dominion Gulf Company ("Gulf") which outlined 2 main areas of mineralization, the D Zone, and the East Zones*.
Sarissa director and senior geologist, Alan Hawke, who is now on site, commented, "These first results match our expectations based on Gulf's original data. This represents a dramatic step forward in our confirmation of the historic resource."
The assay results included a continuous 145.5 metres with an average grade of 0.53% Nb2O5, from 23 metres to 168.5 metres, vertical depth. The full results are listed below.
DDH-08-69 Location = D Zone ----------------------------------------------------------------
HoleID UTM UTM Elevation Length Date Date Easting Northing meters meters Started Finished DDH-08-69 344,450.0 5,320,475.0 374 200 11/15/2008 12/06/2008
Surveys Depth m Azimuth(°) Inclination(°) 200 0 90
Interval From m To m m Description Accessory Minerals ------- -------- ------------------------- --------------------- 0 11 Overburden ------- -------- ------------------------- --------------------- Alterd red alkaline fenite, minor malignite 11.00 24.50 13.50 dikes, fragment of sovite presented, minor magnetite ------- -------- ------------------------- --------------------- Piroxenitized red 24.50 30.00 5.50 alkaline fenites augerine ------- -------- ------------------------- --------------------- Malignite dike,augerine 30.00 30.80 0.80 agregates pervasive augerine ------- -------- ------------------------- --------------------- Dark green altered malignite,nepheline 30.80 36.00 5.20 fragments presented minor magnetite ------- -------- ------------------------- --------------------- Altered red alkaline 36.00 38.40 2.40 fenites ------- -------- ------------------------- --------------------- 38.40 39.00 0.60 Nephelenite dike ------- -------- ------------------------- --------------------- Orthoclase rich rock + Malignite. Minor 39.00 65.00 26.00 carbonate str. stellate agregates fragments of red alkaline fenites ------- -------- ------------------------- --------------------- Altered malignite, 5% of augerine, andradite, 65.00 102.70 37.70 red feldspatic material piroxene ------- -------- ------------------------- --------------------- 102.70 105.10 2.40 Sovite dike ------- -------- ------------------------- --------------------- Altered malignite, 1% of 105.10 131.80 26.70 red feldspatic material augerine, Py ------- -------- ------------------------- --------------------- Altered red alkalic 131.80 141.50 9.70 fenites magnetite ------- -------- ------------------------- --------------------- Ijolitic fenite( nepheline, biotite and 141.50 148.60 7.10 piroxene) Py, Cpy -rare ------- -------- ------------------------- --------------------- Altered malignite, 5% of 148.60 178.10 29.50 red feldspatic material Py, magnetite-rare ------- -------- ------------------------- --------------------- Altered red alkalic fenite, minor carbonate 178.10 194.20 16.10 stringers augerine, apatite ------- -------- ------------------------- --------------------- Sovite dike(calcite, 194.20 196.80 2.60 biotite, minor pyroxene) ------- -------- ------------------------- --------------------- Altered red alkalic fenite and fragment of 196.80 200.00 3.20 sovite dike ------- -------- ------------------------- --------------------- E.O.H. -------
The drilling program has now recommenced after a Christmas and New Year's break.
Sarissa looks forward to keeping our shareholders informed in the coming weeks through continued updates.
* These reported resources are historical in nature and, therefore, not compliant with National Instrument 43-101 reporting standards; however they are considered material to the prospectivity of the Nemegosenda Project. A "qualified person," as defined under NI-43-101, has not done sufficient work to comment on the relevance or reliability of these historical estimates. The company is not treating the historical estimate as, nor can the historical estimates be relied upon as, current mineral resources or reserves. Sarissa currently does not have access to more recent estimates or data relating to the Lake Nemegosenda property, except as outlined in this and previous news releases.
Alan Hawke, BSc. MSc. (Geology) MAusIMM a director of Sarissa, is a "qualified person" within the meaning of National Instrument 43-101 and has reviewed the technical information contained in this news release.
About Sarissa Resources
Sarissa Resources is a junior exploration company with interests in properties with base metal, precious metal, uranium, niobium and rare-earth prospects in Northern Ontario, Canada.
Safe Harbor
This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of Sarissa Resources, Inc., and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-statements include fluctuation of operating results, the ability to compete successfully and the ability to complete before-mentioned transactions. The company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.
posted
SRSR LATE NEWS AFTER THE CLOSE--SRSR Resumes Drilling
Sarissa Resources, Inc. Announces Nemegosenda Project, Drilling Progress
2009-01-20 20:02 ET - News Release
BAY CITY, MI -- (MARKET WIRE) -- 01/20/09
Sarissa Resources, Inc. ("Sarissa" or the "Company") (PINKSHEETS: SRSR) suspended drilling operations last week due to the extreme cold weather conditions in the area. The temperature has returned to more seasonal norms, and drilling operations recommenced today.
During the current phase Sarissa has completed 3 holes, DDH-08-69, DDH-08-70 and DDH-08-71. DDH-09-72 was suspended at a vertical depth of approximately 113 metres. Two more holes are planned in the immediate phase, which will delineate a block of approximately 150 metres by 50 metres on 50 metre centres within the main D Zone on the Company's 100 per cent owned Lake Nemegosenda Carbonatite property near Chapleau in Northern Ontario. Additional holes have been planned to further expand on this zone.
Sarissa also holds interests in mineral claims in several other townships in Ontario, and continues to evaluate additional properties for possible acquisition. At this time the Company has not entered into any joint venture or earn-in agreements on any of its mineral properties, though it does continue to receive and evaluate proposals.
Sarissa looks forward to keeping our shareholders informed in the coming weeks through ongoing updates.
Alan Hawke, BSc. MSc. (Geology) MAusIMM, a director of Sarissa, is a "qualified person" within the meaning of National Instrument 43-101 and has reviewed the technical information contained in this news release.
About Sarissa Resources
Sarissa Resources is a junior exploration company with interests in properties with base metal, precious metal, uranium, niobium and rare-earth prospects in Northern Ontario, Canada.
-------------------- Love 'em or Leave 'em either way I already did it. Posts: 801 | Registered: Jul 2006
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