Sarissa Resources Inc. (PINK:SRSR) Magnetic Anomaly of Potential Identified At Nemegosenda Niobium Project
The anomaly was identified through an independent interpretation of the Ontario Geological Survey's total magnetic intensity data from its Kapuskasing airborne geophysical survey and from the earlier ground and airborne geophysical work done on the property. The interpretation work was compiled by Francis L. Jagodits, P. Eng., Consulting Geophysicist. The target magnetic anomaly is approximately 400 metres south of previous drill holes within the South east Zone which, historically, had encountered significant values of Nb2O5 material. Follow-up on-site investigation of the magnetic anomaly shows high Total Count (CPS or counts per second) readings with a hand-held scintillometer. High Total Count readings have provided good indications of mineralization on the property in the past.
This target is of significant interest as its magnetic signature is similar to that of the signatures associated with both the Hawke Zone mineralized area (formerly the D Zone), and with that of the South East Zone. In both of these areas past and current drilling has indicated significant amounts Nb2O5 material. Sarissa's 2008 and 2009 drilling program has indicated a resource of 11,000,000 tonnes of 0.46% Nb2O5 material within the Hawke Zone, as outlined in the Technical Report prepared by Billiken Management Services Inc. in July, 2009.
Based on the encouraging conclusions reached by Mr. Jagodits, the current drilling program being conducted in the South East Zone will be expanded to test this newly identified anomaly for Nb2O5 mineralization.
Scott Keevil, Sarissa CEO, commented, "Our technical team is pretty excited about this potential step-out. If drilling finds Nb2O5 mineralization there it could indicate a very significant extension to the South East Zone."
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 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.
About Sarissa Resources Inc.
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.
Sarissa Resources Inc.