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Sarissa Resources Inc. Releases Independent Technical Report Covering the Nemegosenda Property
* Press Release
* Source: Sarissa Resources Inc.
* On Monday July 27, 2009, 11:16 am EDT
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OAKVILLE, ON--(Marketwire - 07/27/09) - Sarissa Resources Inc. ("Sarissa" or the "Company") (Pinksheets:SRSR - News) is pleased to announce the completion of an independent technical report on its 100% owned niobium property in northern Ontario. The report was prepared by John C. Archibald, P. Geo. of Billiken Management Services Inc. of Toronto, and was prepared to standards as outlined by National Instrument 43-101 Standards and Disclosures for Mineral Projects ("NI 43-101"). The full report will be available for review on the Sarissa website.
The report summarizes both the results of work carried out during 2008 & 2009 as well as all known historical exploration work and reports on the Nemegosenda Property owned by Sarissa.
Excerpts from the report include:
"... 2008 & 2009, Sarissa carried out another drilling program over the same 'D' Zone centering their nine drill holes within the 'D' Zone mineralization. A block model of the results from these nine drill holes indicates a resource of some 11,000,000 tonnes of 0.46% Nb2O5 (12,127,500 tons at 0.46% Nb2O5).
"Sarissa's re-estimation (2009) using just the 'D' Zone block modeling by Alan A. Hawke BSc./MSc., of 45,265,343 tonnes grading 0.43% Nb2O5 of which 46% of the calculated blocks contained greater than 0.50% Nb2O5 for a minimum of 20,022,058 tonnes (translated to tons this drill inferred resource compares to 49,905,041 tons at 0.43% Nb2O5 and 22,074,319 tons at 0.50% Nb2O5 respectively (see Table 6 - "Resource Workings - Dominion Gulf" in the Appendices of this report)). Mr. Hawke's grade calculations compares favorably to the initial tonnage calculations by Dominion Gulf and strengthens the position that there is definitely a consistent Niobium resource to be found with the 'D' Zone area of the property.
"Sarissa Resources Inc. undertook a nine-hole diamond drilling program from November 2008 to February 2009, to test the reported Niobium mineralization occurring within the previously outlined 'D' Zone, on the Nemegosenda property. The nine holes totaled 1842 metres of which 1728 metres were assayed. Both the drilling, twinning of a number of the holes and drill-core analytical results show a high degree of reproducibility in values in Niobium content. This data provides further support for the reproducibility of the Niobium grades that were outlined by previous Musto Exploration and Dominion Gulf exploration results over the two areas on the property ('D' Zone and 'South-East' Zone) and gives credibility to the historical reserve estimates. Firstly, the 'D' Zone area likely contains a minimum of 20 million tons grading 0.45 % Nb2O5 and perhaps upwards of 40 million tons that was indicated by the previous programs and that the 'South-East' Zone likely contains another 20 million tons grading 0.35% Nb205 and both have good potential for hosting further resources of Niobium."
It is also with regret that Sarissa announces that Alan Hawke passed away on July 21st, 2009. Mr. Hawke had served as a director of Sarissa and directly oversaw the Company's exploration program. Scott Keevil, President of the Company, said, "On behalf of Sarissa, we would like to express our most sincere condolences to Alan's family and friends and recognize his outstanding service to the Company. We will greatly miss Alan, his zest for life and valued advice."
As tribute to Mr. Hawke, the Company has renamed the D Zone the Hawke Zone.
Dr. Cam Cheriton, a director of Sarissa, 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.