Sarissa Resources Drilling Results from Shining Tree Resources
|Posted on Dec 01 2011|
|News >> Press Releases|
Oakville, ON., Nov. 28, 2011 – Shining Tree Resources Corp. (“Shining Tree Resources” or “the Company”), a wholly-owned subsidiary of Sarissa Resources Inc. (“Sarissa”), is pleased to release the results from the second phase of diamond drilling conducted at the company’s initial gold prospect in the Shining Tree area of northern Ontario.
The initial Shining Tree property (the “property”) is located in the townships of Asquith and Churchill in the Shining Tree area of Ontario. On a regional scale, a series of mafic to felsic volcanic flows and tuffs underlie the property, which also appears to be centered on the axis of a regional geophysical gravity high. This high could be interpreted as an area of thick supra-crustal rocks and under-plating by oceanic crust that has been associated with the discovery of major gold deposits in Precambrian rock of the Canadian Shield.
Sarissa had previously conducted surface exploration consisting of stripping and blasting work, followed by diamond drilling of two holes (SC-10-1 and SC-10-2) in the fall of 2010, on the historical large scale Gosselin gold bearing quartz stockwork vein systems and wall rocks found within the central area of the property.
In the second phase, two diamond drill holes (SC-11-3 and SC-11-4) and were collared to test for depth extensions in intersections obtained in hole SC-10-2 drilled during Phase 1, including a reported highlight of 9.26 g/tonne Au and 24.56 g/tonne Ag over 2.06 m from 33.94 m to 36 m down hole.
Hole SC-11-3 was collared approximately 33 metres southeast of, and along the same section (and azimuth) as hole SC-2, and drilled at an inclination of -50 degrees to a depth of 167.2 m. Significant values for gold and silver mineralization are (depth intervals provided are along the core axis): 1.71 g/tonne gold over 1.12 m from 11.51 to 12.63 m; 0.31 g/tonne gold over 9.16 m from 19 m to 28.16 m; 1.37 g/tonne gold over 0.46 m from 70.54 m to 71 m; 0.36 g/tonne gold over 7.48 m from 92.20 m to 99.68 m; and 19.35 g/tonne silver over 2.26 m from 94.31 m to 96.57 m.
Hole SC-11-4 was collared approximately 60 metres southeast of, and along the same section (and azimuth) as hole SC-2, and drilled at an inclination of -50 degrees to a depth of 173 m. Significant values for gold and silver are: 0.92 g/tonne gold over 9.17 m from 35 m to 44.17 m down hole, and 12.1 g/tonne silver over 1.71 m from 42.46 m to 44.17 m down hole.
As observed in SC-10-2, gold and silver bearing zones in holes SC-11-3 and SC-11-4 were identified within foliated felsic to mafic metavolcanic sequences with varying amount of carbonatization, silicification and fine pyrite mineralization. True widths for the mineralized intervals reported above are not known at this time. The Company is extremely pleased with these results from this phase of drilling on the initial Shining Tree property and further drilling to test for strike extensions of the gold and silver mineralization obtained in holes SC-10-2 to SC-11-4 is presently being planned. In addition, ground preparation, exploration and sampling will be carried out on the additional Shining Tree area properties acquired over the past year.
Warren Hawkins, P.Eng is a “qualified person” within the meaning of National Instrument 43-101 and has read and is responsible for the technical information contained in this news release.
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 Shining Tree Resources Corp. and/or Sarissa Resources Inc., and members of 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 does not undertake any obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.
FOR FURTHER INFORMATION contact:
Public Relations: Merle Goertz
North America: 866-307-1331