July 28, 2009 wallst.net interview w/ Scott Keevil
as transcribed by Jnmcda0
I've transcribed the interview:
Host (Albert Aimers): [Gives brief introduction, mentions the 43-101 report, etc.] Tell us a little bit about Sarissa...what's your strategic plan for the company?
Scott: Sarissa was focused to be a junior mining exploration company and what we wanted to do was acquire world class deposits that could be economically brought to fruition fairly quickly and I think we've done that with this niobium property. Basically, we took a look at some of the historical data, which indicated there was a huge 20 million ton deposit on it, which was discovered in the '50s. What it needed to have done now is to be brought up to current standards, so we could give some credibility to the historic drilling. And we've done that.
Host: What sort of things are coming up with the company? What are you doing? Are you going to continue drilling down on this property? Are you looking for other properties?
Scott: Our main focus is on this property. We're going to keep going on this because it is our flagship. We're always looking around for other potential ones. We've got a small gold property in northern Ontario too, which is exciting, but nothing nearly as economically viable as the Nemegosenda one. So, we are going to continue to drill on the Nemegosenda property. We've got two identified zones there...the main zone, which we have just renamed the Hawke zone, where we just finished this technical report. And what we want to do is continue drilling because the deposits seem to get richer and a little bit deeper as it moves to the east. So, we want to keep going that way until we come to the edge and find out how deep it goes. We've got a second zone, the South East zone, we want to drill out now because we're seeing a huge potential there for as much tonnage as we have in the main zone, but maybe a slightly lower grade. So, we've got our work cut out for us to get to the point where we can do a feasibility study on the property.
Host: And what sort of timeline are you looking for that? I guess first on the Hawke zone...
Scott: It's a bit like "how long is a piece of string?", because it depends on how far it goes, how much drilling we do...and right now we have one drill working. We may move a lot faster if we bring in two or three drills and that would shorten our time frame. But, I think we're looking at about an 18 month program to drill out the main zone right now.
Host: Okay. I wonder if you could tell us a little bit about how you acquired the property and why this property and why you guys believe so much in this property.
Scott: Actually, it's one that I've know about for a number of years. I've known some of the properties that Dominion Gulf had worked on in the '50s and had just kept my eye on them. This one came available via a prospector who held the title for about ten years and we were at the right place at the right time to make a deal with him and acquired it and have just run with it ever since...it's not that long, only about a year and half now we've had it.
Host: What sort of milestones are you looking for with the company, over the next say 12 to 18 months? What kind of definitive milestones are you looking for?
Scott: To me, the definitive milestones are going to be in the geological side. We want to, as much as we can, completely deliniate the main Hawke zone and find out where the eastern extent is and where the depth extension is, so we can get a full picture, a 3-dimensional picture of what the grade and tonnage is going to be on that one. And then the next milestone is to figure out the size and extensions of our South East zone...how long it is, how wide it is, and how deep it is. It looks like it is about a kilometer long and 700 meters wide, which is a really, really big piece of ground to have a potential ore body on it.
Host: Excellent. Thanks so much for your time.
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