OAKVILLE, ON--(Marketwired - Jan 15, 2014) - Sarissa Resources Inc. (PINKSHEETS: SRSR) ("Sarissa" or the "Company") is pleased to release this update to shareholders relating to ongoing activities.
The Company has prepared plans to advance exploration of the Nemegosenda Niobium Project, which it holds through its wholly-owned subsidiary, Nio-Star Corp. ("Nio-Star"). The first phase of those plans involved initial conceptual analysis, which was followed by testing of Niobium mineralized material at a research facility in Houston, Texas. This testing sought to maximize liberation of the pyrochlore containing Niobium. Initial positive results from this first stage have led to the development of plans for a larger scale test, to be conducted this spring.
In addition, following the recommendations presented in the last NI 43-101 technical report prepared on the Nemegosenda Niobium Property (effective September 23, 2010 and available at www.sedar.com), a drilling program of approximately 1,500 Meters has been outlined. This drilling will, among other things, provide precise twinning of five of the original Dominion Gulf drill holes within the D Zone that are discussed in that report. Drilling of the first hole is scheduled to begin as soon as roads to the area can be cleared and the drilling equipment mobilized onsite. Mobilization for drilling was started this week, with drilling to follow.
With respect to the metallurgical testing that was undertaken in China on samples from the Nemegoenda Niobium Property by the Chinese State Owned Enterprise with whom the company had entered into a Letter of Intent (and subsequent extension, both of which have now expired) with Sarissa, the Company has been advised that testing remains in progress. To date, a written interim report on this testing has not been received by the Company.
The Company has not entered in to any recent letters of intent with potential joint venture partners or others relating to the Nemegosenda Niobium Property. However, Sarissa has continued to provide technical information to key interested parties. The Company anticipates that the additional information resulting from currently planned exploration and testing will contribute to moving discussions with the aforementioned parties forward.
On Behalf of the Company,
President and COO
Warren Hawkins, P.Eng, is a "qualified person" within the meaning of NI 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 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.