OAKVILLE, ON--(Marketwired - Apr 22, 2014) - Sarissa Resources Inc. ("Sarissa" or the "Company") (PINKSHEETS: SRSR) is pleased to release this update to shareholders relating to ongoing activities.
Following on from the Company's previously announced plans to advance exploration of the Nemegosenda Niobium Project, results from the first verification hole have been received and analyzed.
DDH 14-82 was collared at GPS co-ordinate 344464 m E, 5320431 m N (UTM zone 17) adjacent to Dominion Gulf drill-hole 56-49 (GPS co-ordinate 344463 m E, 5320431 m N, UTM Zone 17), and was drilled with the same azimuth (N 40 degrees E) and inclination (-45 degrees). The following results were obtained:
Depth Interval (m)
Depth Interval (m)
|12.50 - 261.89
||10.5 - 262.5
||262.5 - 293
The Company elected to extend Hole 14-82 beyond the end of Hole 56-49 to test for additional niobium mineralization at depth. This drilling returned 0.36 % Nb2O5 over the last 30.5 m, and the entire Hole 14-82 returned 0.45% Nb2O5 over 293 m. The true widths of these intersections are not known at this time. The quality assurance program and qualify control measures applied during the execution of the drilling and testing reported in this news release consisted of the insertion of laboratory prepared standards and blanks into the sample stream at regular intervals. Prior to shipping the samples to the laboratory, the drill core was split using a table saw. One half of the split sample was placed in a sealed sample bag for shipment to an independent laboratory. The other sample half was returned to the core box for archival purposes.
Samples were submitted to Agat Laboratories of Mississauga Ontario and were analyzed for their niobium content using Borate Fusion with an ICP-MS finish. Agat Laboratories is certified to the ISO-9001 standard and are independent of Sarissa.
The focus of the current program is to verify results obtained from the Dominion Gulf 1950's diamond drilling program, with a view to eventually incorporating the Dominion Gulf data into an up to date NI 43-101 compliant estimate of the Nb2O5 mineralization of the Nemegosenda Niobium Project. Sarrisa management is pleased with the results reported above in that niobium concentrations in DDH 14-82 are consistent with those obtained by Gulf in DDH 56-49.
The Company also announces that, through its wholly-owned subsidiary, Shining Tree Resources Corp. ("Shining Tree"), it has entered into an agreement with Canada Resources PLC ("CRes"), an Irish company, whereby CRes will acquire Shining Tree's Otto township property for $100,000, with Shining Tree retaining a 2% Net Smelter Return royalty on the property. The transaction is subject to approval of the shareholders of CRes.
Warren Hawkins, P.Eng. is a "qualified person" within the meaning of NI 43-101 and has approved 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 Nio-Star Corp., as well as members of their respective management, in addition to 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 financial results and positions, the ability to compete successfully and the ability to complete above-referenced exploration and testing, as well as business transactions. Neither Sarissa nor Nio-Star undertakes 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 in Northern Ontario, Canada. Sarissa and Nio-Star are specifically focused on the development of the Nemegosenda niobium project as well as the Shining Tree Resources Corp. gold projects.