News
Sarissa Resources Inc. Shining Tree Property Winter Exploration Program |
| Posted on Nov 05 2010 |
| News >> Press Releases |
Oakville, ON, November 5, 2010 – Sarissa Resources Inc., (“Sarissa” or the “Company”) (OTCPinksheets: SRSR), announces a follow-up exploration program at its gold property in the Shining Tree area of northern Ontario. The Shining Tree property consists of 18 claim units in the townships of Asquith and Churchill, near the community of Shining Tree, Ontario. This work will follow on from last year’s drilling program.
In 2009 Sarissa undertook a 2-hole diamond-drilling program, the results of which are summarized as follows:
Hole SC-09-01 was collared within the intersection of the Speed Lake and Gosselin Rift Zones. A large quartz carbonate alteration zone was exposed during Sarissa’s summer 2009 stripping program. This zone was intersected from 8 to 32 metres down hole. A second quartz carbonate zone was intersected further down the hole from 57.5 to 77 metres. 90 samples totalling 91.54 metres of core were sent for gold and silver assay from this hole. The best gold intersection obtained from this hole was 1.62 grams per tonne over 2 metres from a depth of 28 to 30 metres down hole. The best silver result obtained in SC-09-01 returned 63.7 grams of silver per tonne over 1.49 metres, from a depth of 129.89 to 131.38 metres down hole.
SC-09-02 was collared within the Gosselin Rift Zone approximately 100 metres west of the Beaver Pond centre western shoreline, approximately 170 metres south of SC-09-01. This hole was drilled to confirm geological and assay information obtained in the Onitap and Tri-bridge holes drilled on this property in the 1980’s. Alternating layers of intermediate to mafic altered volcanics with quartz veining, with varying amounts of finely disseminated pyrite and chalcopyrite mineralization were intersected to a down hole depth of 116.70 metres. 55 samples totalling 62.8 metres of core were sent for assay from SC-09-02. The best gold result returned 9.21 grams per tonne over a 2.06 metre interval, from a depth of 33.54 to 35 metres down hole. This section also returned 23.17 grams per tonne silver. A second interval returned gold values of 1.41 grams per tonne over a 4.85 metre interval, from 54.15 to 59 metres down hole. A third low-grade interval returned 0.45 grams gold over 11 metres, from 64 to 75 metres down hole. Additionally, 57.48 grams per tonne silver was obtained between 64 and 66 metres down hole.
As reported by Mr. Warren Hawkins in his report on this program, “Interpretation of the results from SC-09-02 confirmed historical results from drill holes collared 100 metres west of the Beaver Pond. Elevated gold values are associated with quartz feldspar porphyry intrusives in this area of the Gosselin Rift Zone.
To date, drilling on the Property has not exceeded a vertical depth of 150 metres, consequently potential for gold and silver mineralization at depth is unknown. ”
(Source: Drilling Report by Mr. Warren Hawkins, P.Eng., July 2010)
The current exploration program at the Shining Tree property will consist of ground and down-hole geophysics, and diamond drilling to test the depth potential for gold and silver mineralization.
The Company also plans to bring shareholders up to date shortly on progress at its 100% owned Nemegosenda niobium property and ongoing corporate and strategic initiatives.
Warren Hawkins, P.Eng. is a “qualified person” within the meaning of NI 43-101 and has read and is responsible for the technical information contained in this news release.
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 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.
About Sarissa Resources Inc.
Sarissa Resources Inc. is a junior exploration company with interests in properties with base metal, precious metal, uranium, niobium and rare-earth prospects in Northern Ontario, Canada. The Company is specifically focused on the development of its Nemegosenda niobium project.
FOR FURTHER INFORMATION contact:
www.sarissaresources.com
and http://nemegosenda.sarissaresources.com/
Public Relations: Merle Goertz
866-307-1331