Read Larry Connors' blog – Short Term Trading Strategies
The program was conducted under the supervision of the late Alan Hawke, and the resulting data reviewed by Warren Hawkins, geologist. The program consisted of stripping and blasting work on the historical large scale gold bearing quartz stockwork vein systems and wall rocks found within the central area of the property. Values as high as 53.9 grams per tonne (1.57 ounces per ton) gold were obtained. These results confirm that gold mineralization on the property is found within a broad spectrum of geological horizons, and the potential for a large tonnage deposit is very promising.
The next phase of the program will be to drill test the depth extensions of these surface zones for gold mineralization. Based on the current results and review of the historic data, the property has strong merit and a 43-101 compliant technical report is being prepared. The Company has not made a definitive decision as to whether to carry out the next exploration phase internally, or to enter into a joint venture arrangement.
At the Company's Nemegosenda niobium property a summer program to drill a further three holes in the Hawke Zone (formerly the D Zone) has concluded, as previously announced. The core from these holes is being logged and sent for assay. As a number of holes from the past year's drilling have ended in mineralization at vertical depths around 200 metres, the Company has decided to bring in a larger drill rig to allow for further depth testing of the mineralized zone from these and other holes. This next phase program is expected to commence in October.
Further exploration this summer also expanded potential mineralized areas of the SE Zone. A follow-up drilling program is being planned to test potential mineralized extensions of this zone. The SE Zone "occurs 1500 metres south east of the Hawke Zone). From the 1955 and 1956 drilling programs by Dominion Gulf, plus re-assaying of nine drill holes by Musto Explorations in 1988 which covered this area, a historical resource of Niobium mineralization was indicated to exist within an area of some 700m X 250m to a depth of 200m" ("Technical Report on the Nemegosenda Property for Sarissa Resources Inc." - July 21, 2009-Billiken Management Services Inc.).
The metallurgical testing program previously announced continues and results will be reported when available. This program provides a multi-disciplinary approach designed to fully characterize the ore, investigate if physical ore upgrading is feasible by standard ore beneficiation processes, and develop a hydrometallurgical method for the extraction and selective recovery of (initially) the niobium phase, in order to establish a baseline flowsheet for targeted product recovery.
The Company has acquired further claims surrounding its current holdings at Nemegosenda, and believes that any potential extensions of the mineralized areas may be covered in its 5500 acre holdings.
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.
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 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 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.
FOR FURTHER INFORMATION contact: www.sarissaresources.com and http://nemegosenda.sarissaresources.com/ Investor Relations: Merle Goertz 866-307-1331
SOURCE: Sarissa Resources Inc.
http://www.sarissaresources.com http://nemegosenda.sarissaresources.com/
More News:
Market Updates |
Stock Alerts |
All Trading News |
Stock Index
About TradingMarkets | Contact | Advertise | Careers | Link to Us | Site Map | Help | Terms & Conditions | Privacy Policy | Return Policy | Testimonials | Feedback
The Connors Group, Inc. ("Company") is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. The analysts and employees or affiliates of Company may hold positions in the stocks, currencies or industries discussed here. You understand and acknowledge that there is a very high degree of risk involved in trading securities and/or currencies. The Company, the authors, the publisher, and all affiliates of Company assume no responsibility or liability for your trading and investment results. Factual statements on the Company's website, or in its publications, are made as of the date stated and are subject to change without notice.
It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable or that they will not result in losses. Past results of any individual trader or trading system published by Company are not indicative of future returns by that trader or system, and are not indicative of future returns which be realized by you. In addition, the indicators, strategies, columns, articles and all other features of Company's products (collectively, the "Information") are provided for informational and educational purposes only and should not be construed as investment advice. Examples presented on Company's website are for educational purposes only. Such set-ups are not solicitations of any order to buy or sell. Accordingly, you should not rely solely on the Information in making any investment. Rather, you should use the Information only as a starting point for doing additional independent research in order to allow you to form your own opinion regarding investments. You should always check with your licensed financial advisor and tax advisor to determine the suitability of any investment.
HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN INHERENT LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING AND MAY NOT BE IMPACTED BY BROKERAGE AND OTHER SLIPPAGE FEES. ALSO, SINCE THE TRADES HAVE NOT ACTUALLY BEEN EXECUTED, THE RESULTS MAY HAVE UNDER- OR OVER-COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN.
The Connors Group, Inc.
10 Exchange Place, Suite 1800
Jersey City, NJ 07302
© Copyright 2009 The Connors Group, Inc.
