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Sarissa Resources Inc. Announces Expanded Drilling Program on Nemegosenda Property
(OTC:SRSR) Sarissa Resources, Inc.
BAY CITY, MI-Feb 2, 2009 - Sarissa Resources Inc. ("Sarissa" or the "Company") announced recently that it has decided to expand its current diamond drilling program on the company's Nemegosenda property. Sarissa stated the decision to expand drilling was based on positive early assay and testing results
The original program was designed for 6 diamond drill holes within the D Zone, and these first 6 holes have now been completed. The results so far obtained by assaying, radiometrics, and geological interpretation, support the continuation of the drilling program for a minimum of an initial further 3 drill holes, to an approximate depth of 200 metres per hole.
This drilling program will outline an area within the D Zone comprising 3 rows, spaced 50 metres apart, with 3 holes at 50 metre centres. This will allow for the start of block modeling of this zone, with an initial block of some 150x150x200m = 4,500,000m3 at a bulk rock density of approximately 2.8 tonnes/cubic metre or about 12,600,000 tonnes. Note that these calculations allow for a 25 metre area of influence per drill hole.
Further analysis will need to be done to determine the parameters of the mineralized zone within this block, at an estimated cut-off grade of approximately 0.4% Nb2O5 material.
The assay results of drill hole DDH-08-69 (see releases dated January 13, 2009 and January 22, 2009), along with radiometric readings of the other completed drill holes, plus the ongoing geological interpretation support the premise that the Nemegosenda property could host a world class niobium deposit within the D Zone. Further mineralized occurrences have also been identified in the South East Zones *, and numerous magnetic anomalies have been flagged on Sarissa's holdings through past airborne and ground surveys. These other targets will be further investigated by the Company in a later program.
The current drilling program was designed to test the historically reported niobium inferred resource, initially identified and extensively explored by Dominion Gulf Company , 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 *.
Sarissa Resources CEO, Scott Keevil, commented, "We are very encouraged by the confirming results we have obtained so far from the drilling program at Nemegosenda. These positive results warrant an expanded program to further define the niobium mineralization in this one area of the property."
The company looks forward to keeping our shareholders informed in the coming weeks through continued updates, as further results are obtained and analyzed.
* 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 Nemegosenda property, except as outlined in this and previous news releases.
Alan Hawke, BSc. MSc. , 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.Contact:
FOR FURTHER INFORMATION contact: http://www.sarissaresources.com and http://nemegosenda.sarissaresources.com/ Investor Relations: Merle Goertz 604-688-2349 Source: Sarissa Resources, Inc.
Profile for Sarissa Resources, Inc.
Sarissa Resources, Inc. engages in the exploration and development of mineral resource properties in North America. It primarily explores for uranium, copper, silver, nickel, gold, platinum, and zinc ores. The company holds interests in the Deadmoose Lake platinum/palladium property consisting of 6 claims covering an area of approximately 600 acres in Shillington Township in the northern Ontario; the Timmins property totaling an area of approximately 1,150 acres situated in Timmins Township in the northern Ontario; and the uranium/copper mineral property covering 480 acres in the Elliot Lake Camp in Albanel Township situated in the northern Ontario. Sarissa Resources also owns interests in t... Detailed SRSR Company Description...
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