TSX-SMF
MONTREAL, June 30 /CNW Telbec/ - SEMAFO (TSX: SMF) today announced
ongoing results from its 2009 exploration program at the Mana mine in Burkina
Faso. Core drilling resumed on the project in April, with a second drill rig
having been added in June. A third drill rig is scheduled to arrive on site in
mid-July. Currently, some 6,400 m have been drilled from 19 holes. Assays
results have been received for holes WDC 80 to WDC 92.
The current drilling program confirms the at-depth NE high-grade
extension of Wona. Initial reference was made to this potential mineralization
in SEMAFO's press releases dated February 25 and March 2, 2009 as well as
those published March 24th, June 17th and August 8th 2008. Results maintain
the presence of significant mineralized zones at-depth.
The auriferous Wona deep extension consists of highly silicified zones
crossing sequences of alternating volcanoclastics and shales. Some shales
include graphite. Silicification injections throughout the schistosity result
in local grey banding so pervasive that it may conceal the original rock over
several meters. Long axes of the mineralisation plunge some 25 degrees towards
the NE as shown on the following longitudinal. Additionally, internal swells
seem perpendicular as demonstrated by WDC 92 returning 2.72 g/t over 60 m and
when considering the entire mineralization, as demonstrated by the older WDC
72 with 3.92g/t over 60 m. The potential of large ore deposits warrants
further investigation. Silicified rocks host on average 2% to 5% sulphides,
consisting mainly of pyrite with arsenopyrite with surrounding sericite and
carbonate alterations.
The area herein described is shown on the attached longitudinal section
displaying contoured grade-thickness product with hole location.
http://files.newswire.ca/357/LongitudinalSection.doc
The following table presents the drilling results including the main
mineralization intersected and high-grade values.
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DDH Intersections At-depth
Wona NE Ext.
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DDH NO SECTION FROM TO AU(g/t)(x)
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WDC 80 16850N 186.77 194.75 3.09 g/t / 8 m
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WDC 81 16850N 308.85 328.2 3.05 g/t / 19.4 m
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Included 318 328.2 3.79 g/t / 10.2 m
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WDC 81 16850N 347 353 3.18 g/t / 6 m
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WDC 82 16950N 207 211.6 3.72 g/t / 4.6 m
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WDC 83 16950N 244.92 251.31 3.78 g/t / 6.4 m
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WDC 83 16950N 256.95 274.17 3.05 g/t / 17.2 m
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Included 256.95 261.31 7.40 g/t / 4.4 m
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WDC 84 17050N 263.62 281.2 2.84 g/t / 17.6 m
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WDC 85 17050N 171.62 186 4.82 g/t / 14.4 m
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Included 175.21 184.2 6.21 g/t / 9 m
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WDC 86 17150N 261 286.33 3.42 g/t / 25.3 m
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Included 276.22 286.33 4.80 g/t / 10.1 m
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WDC 87 16600N 234.17 244.25 3.16 g/t / 10.1 m
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WDC 88 16850N 237.39 245.85 3.28 g/t / 8.6 m
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WDC 88 16850N 249.4 263.66 3.05 g/t / 14.3 m
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Included 252.15 257.66 4.45 g/t / 5.5 m
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WDC 88 16850N 266.5 285.35 3.02 g/t / 18.9 m
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Included 271.47 277.05 5.48 g/t / 5.6 m
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WDC 89 16850 360.35 377.3 2.70 g/t / 17 m
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Included 365.35 375.3 3.59 g/t / 10 m
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WDC 90 16700 308.5 313.5 1.92 g/t / 5 m
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16700 345.2 349 2.10 g/t / 3.8 m
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WDC 91 16800 500.8 503.8 4.80 g/t / 3 m
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16800 508.7 514.7 1.65 g/t / 6 m
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WDC 92 17100 303 309.8 3.43 g/t / 6.8 m
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17100 343.9 363.9 5.40 g/t / 20 m
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Included 17100 351.9 362.9 7.34 g/t / 11 m
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(x) All lengths are down-the-hole lengths; additional information is
required to determine true widths.
The following schematized longitudinal shows the mineralization trend
with the past drilling and coming programs.
In conjunction with the actual drilling program underway over Wona deep
extension, an external scoping study contract has been awarded to Met-Chem
Canada Inc. As part of this study, mining simulations will be carried out from
the resources block model, including parameters such as rock mechanics.
Results will be taken into consideration in determining the most appropriate
mining alternative.
In addition, an ultra high-resolution low elevation helicopter borne
magnetic and radiometric geophysical survey will be flown in the coming weeks
over the Mana group of permits. The objective of this exercise is to identify
the potential for Wona-type deposit discovery along the geological trend which
runs 90 km on the property, both to the northeast and to the southwest of the
mine. The contract, awarded to Fugro Airborne Surveys of South Africa, covers
1,015 km2 with 11,520 km of flight lines spaced at 100 m.
The drilling programs were designed and managed locally by Dofinta Bonde,
Mana Mineral's Exploration Chief Geologist, supported by Donald Trudel,
experienced mine and exploration professional geologist, and guided and
supervised under the direction of Michel Crevier, P.Geo MScA, Geology Manager
and SEMAFO's Qualified Person who has reviewed this press release for accuracy
and compliance with the Canadian Instrument NI 43-101.
All individual samples represented one-meter length of core drilling
which was sawn in half or one-meter length. One half core is kept on site as a
control with the identical sample sent for preparation and gold assaying at
the ALS Chemex laboratories in Ouagadougou, Burkina Faso. Each sample was fire
assayed for gold content on a 50-gram sub-sample at the same ALS Chemex
laboratories. Complementing ALS Chemex's own QA/QC (Quality Assurance/Quality
Control) program, an internal quality control and quality assurance program
was in place throughout the sampling program, using blind duplicates and
recognized industry standards.
Mana has a total of 908,600 ounces of gold mineral reserves, 1,021,400
ounces of measured and indicated resources and 508,200 ounces of inferred
resources.
About SEMAFO
SEMAFO is a Canadian-based mining company with gold production and
exploration activities in West Africa. The Company currently operates three
gold mines in Burkina Faso, Niger and Guinea. SEMAFO is committed to evolve in
a conscientious manner to become a major player in its geographical area of
interest, while maintaining principles and strengthening relationships to
increase shareholder value.
Forward-looking Statements
This press release may contain forward-looking statements. These
forward-looking statements include, but are not limited to, statements
regarding the Company's expectations as to the market price of gold, strategic
plans, future commercial production, production targets, timetables, mining
operating expenses, capital expenditures, and mineral reserve and resource
estimates. Forward-looking statements involve known and unknown risks and
uncertainties and accordingly, actual results and future events could differ
materially from those anticipated in such statements. Factors that could cause
future results or events to differ materially from current expectations
expressed or implied by the forward-looking statements include, but are not
limited to, fluctuations in the market price of precious metals, mining
industry risks, uncertainty as to calculation of mineral reserves and
resources, risks related to hedging strategies, risks of delays in
construction, requirements of additional financing and other risks described
in the Company's documents filed from time to time with Canadian securities
regulatory authorities. Although the Company is of the opinion that these
forward-looking statements are based on reasonable assumptions, those
assumptions may prove to be incorrect. Accordingly, readers should not place
undue reliance on forward-looking statements. Readers can find further
information with respect to risks in the Company's Annual Information Form and
other filings with Canadian securities regulatory authorities available at
www.sedar.com. The Company disclaims any obligation to update or revise these
forward-looking statements, except as required by applicable law.
