Deadmoose

Sarissa has a 100% interest in the “Deadmoose” property, located in Shillington Township, in Northern Ontario. The property was initially staked following the release by the Ontario Geological Survey of Open File Report 6061: “Montreal River Headwater Area Sediment Survey, Northern Ontario: PGE Data-Operation Treasure Hunt.”

An excerpt from the report stated, “The highest Pd [Palladium], second highest Platinum [Pt] [Platinum] and seventh highest Au [Gold] (FA/ICP-MS) value collected in the survey area was obtained from a small lake located near Deadmoose Creek in central Shillington Township.”
“The small spring-fed Deadmoose Lake, centered within the property, contained the most anomalous results of over four thousand (4,000) lakes sampled under the lake sediment survey program.” (Rapski, 2002).

In 2006 a Geotech VTEM airborne survey was conducted over the Deadmoose property. Analysis of magnetic and VTEM data has indicated 5 potential mineral targets. 2 VTEM anaomalies indicate a potential for Cu and Au; 2 VTEM and magnetic anomalies indicate a potential for Ni, Cu and Pt; and 1 Kimberlite/diamond target. There are several other magnetic highs and lows paralleling regional and mineralized structures to the west with significant potential.

More information about this project can be found here

In March 2008, Sarissa has entered into an option agreement with Botanic Oasis International Inc. (“BOII”), a privately held exploration company, whereby BOII has a purchase “earn-in” option to acquire up to a 50% working interest in Sarissa’s Dead-Moose Lake Property project in Northern Ontario.

Under the terms of the Agreement, BOII has the option to acquire a 50% working interest in the project in exchange for a non-dilutive 5% of the outstanding shares of BOII common stock and an “earn-in” commitment to spend $250,000 to explore the property over the next 24 months, and a $25,000 cash payment to Sarissa. Sarissa will act as property operator with respect to any monies spent to explore the property under the terms of the option agreement and BOII will be required to reimburse Sarissa for any and all costs incurred, such as administration fees and property and claim maintenance, above and beyond the $250,000 capital commitment by BOII. Exploration expenditures, including the applicable administration fee associated with general property and claim maintenance, will be for a minimum of $5,000 for the first four months. The balance of the exploration expenditures must be incurred by March 30, 2010.