Drilling Update on Sarissas Nemegosenda Carbonatite Property
Sarissa Resources, Inc., announce that a contract has been arranged for an initial fall diamond drill program on its Lake Nemegosenda Carbonatite property. The property comprises approximately 4800 acres (1800 patented, and 3000 contiguous acres staked in 2008) in Northern Ontario. The property is easily accessible off of Highway 101 between Timmins and Chapleau, Ontario.
Extensive exploration and development work was conducted by Dominion Gulf Company (“Gulf”) in the late 1950s and 1960s, including ~35,000 feet of diamond drilling, and expenditures of ~$1,000,000 in metallurgical testing in conjunction with the Colorado School of Mines Research Foundation. In addition an adit was driven 580 feet into the main ore body, and Gulf calculated the reserves in the main D Zone to be 20,000,000 tons of 0.47% Nb2O5 in an area of 600 feet by 800 feet and to a depth of 600 feet*.
The current drilling program has been designed to test this historically reported niobium inferred resource, which has been subsequently written up in numerous Ontario Geological Survey reports.
Drilling is core at an NQ diameter initially. A program will be followed to ensure that samples are properly taken and recorded and a secure chain of custody is maintained between the drill and the labs. Assaying will be conducted at a certified laboratory.
Sarissa president Scott Keevil commented, “This is an exciting time for Sarissa. We have already confirmed similar assay results to Gulf’s from samples taken from inside the adit, and within a short time frame we expect drill results which will move us closer to getting an independent National Instrument 43-101 compliant mineral resource statement prepared.”
The company looks forward to keeping our shareholders informed in the coming weeks through timely updates.
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.