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silicon...Not only fun but economically rewarding too!
homey....We got a real "monsta" property on our hands here and we best not forget it!....Jim
bikeguy... "was/am under the impression that historical data does not qualify as valid in a NI report. Can anyone fill me in on this aspect of waiting for the report from SRSR?"
If we were fortunate enough to find the old drill cores from the Dominion Gulf drilling back in the 50's, we may have been able to retest the cores and validate their work without further drilling. We are validating the old data with our drilling program and now I believe that we can use much of the old data along with our new results. The old data doesn't stand on its own merits without our new drilling info. That's my take on it, but best check with Merle.
Kuzami..."In my chat with Alan at the PDAC, he mentioned that ideally, they would want to put a reprocessing facility (or whatever it may be called, can't remember exactly what he had said) right between Zone D and the SE zones"
Thanks for the meaninigful response. Shows that these boys are serious about bringing this property to market! Just another important piece of this fascinating puzzle....Jim
Hi Gofor...Yes, I love those positive surprises too! maybe next week?!?...Have a good weekend...Jim
Teedlum...."Do you think the company will set up its own physical processing (aluminothermic reduction process, electric arc furnace, electron beam refining ) locally and then send the concentrates out for chemical processing to separate any tantalum and REEs?"
Wowser, you are thousands of years ahead of me in thinking about SRSR's future. I am still trying to figure out how they plan on financing the extensive drilling job that lies ahead on the D Zone and all the SE Zones.
Forcing myself to looking way ahead at the actual mining/processing presents a miriad of challenges of which you hit upon a few. Mining is a damn tough business and the complexities with processing not only the Niobium, but tantalum and an array of REEs will be no small challenge. Costs, metalurgical expertise available, environmental factors, logistics, and a host of other considerations that I haven't even thought of as yet will come into play.
The biggest asset that we have going for us right now is the incredible experience and mining connections that Scott, Cam, and Alan have. There is no doubt that they can and will assemble a team to get the job done. My unprofessional opinion is worth about as much as you are paying me for it..LOL...Great questions!...Jim
bobotheman....welcome as a stockholders and contributor. You want some questions answered. I suggest that you read as much as you can that has been placed in the Ibox. Here are a few past posts that answer your stated questions.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=37881763
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=37956203
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=37995153
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=36503201
Welcome ....Jim
Howie..."One thing for sure this stock would not be around .04 if it wasn't."
On this I totally concur!
goforthebet..."This stock would not be around 0.04 IF WE WOULD KNOW HOW SRSR will finance all they need to get the minerals out of the ground...I'm confident Scott Keevil has a plan, what ever that will be."
Absolutely! I can guarantee that Scott has a firm plan for funding the rest of the journey toward production. I certainly don't know what the plan is, but do know that it has been in place for some time and will take validation of resources to put into action. Maybe it will be one of the imminent "surprises" that Merle has mentioned of late....All opinion...Jim
tony...."WHEN we prove all the minerals in the ground, then if we actually are the SECOND largest niobium deposit in the world then who is the first and what share price are they trading at, that can give us an idea what the future holds for us"
The company in Brazil that is the world's leading Niobium producer is Companhia Brasileira de Metalurgia e Mineracao (CBMM). They are a producer and have enough of a supply to keep the world in Niobium for 500 years. They got around 25 Billion lbs. We, at #2, would come in a distant second with, at best, 2 billion pounds - still a staggering figure.
Since they are a producer and we aren't even close to production, comparing the two would be an apples and oranges comparison at best. Once we are actually mining and are showing a profit, we should be trading at a comparable P/E ratio and then a meaningful comparison could be made.
I believe too many of you are too tuned into the share price. I am getting more to the belief that the company will do the right thing and the share price will ultimately reflect the performance and results. If you want to day trade this stock and scalp 20-30% here and there, great, follow your little hourly charts and scalp away. I am personally preparing for the company to be trading at a market cap of between $1 billion and $2 billion. This goal won't happen over night, but will certainly be fun to watch. What will the share price be when the company commands a market cap of that proportion? Don't know now - will depend upon the amount of stock outstanding. Let's get the first hurdle out of the way first and that is a solid NI43-101 that gives us a hefty "indicated" resource figure....All the best...Jim
JonB44...."1. the investor section has not been updated since January 2008,16 months ago. other updates have been made to the website since. this is something I always pay attention too because its benefical for company to keep updated."
Just what hasn't been updated that you deem so important?
The important updates have been made - mainly news updates.
The share structure has been updated and shows an accurate outstanding figure. The Nemegosenda blog that is also in the investor section is current. The company has done a wonderful job of keeping investors updated with pictures/written updates as drilling progressed. They don't employ secretaries as Scott has been very cost conscious and only putting money into the bare essentials with drilling being the biggest of expense next to property acquisitions. Would you rather have Scott attend to the little details or do you think his time is best spent on running the company?
"2. there are quarterly reports for Q1 - Q3 in 2008 but no Q4 report?"
The 4th quarter financial statement is hardly an important item at this time as SRSR is still in the development stage with no revenue to report. This is not IBM. You're invested in a start-up exploration company that is trying very hard to conserve $ and forge ahead with a monumental property. If, however, you are really interested in seeing the 4th quarter financials, it is to be found in their Pink Sheet filings. Here is the site:
http://www.pinksheets.com/otciq/ajax/showFinancialReportById.pdf?id=20175
"4. http://www.sarissaresources.com/media/hawkins_report.pdf
check out this report "Preliminary Analysis and Recommendations for National Instrument
43-101 Compliant Reserve Estimate" this was done by Warren Hawkins. Previusly some were asking who was doing the NI report, I think its this guy. Im trying to determine what this report is for I belive its the work done prior to starting the NI report but just cant confirm it. Im also trying working on some background on him."
Almost all the present posters are more than familiar with this report as it was done as a preliminary to expending money on drilling. Warren Hawkins is an independent geologist hired just to complete this report. He is credentialed and in good standing with the Province of Ontario. He is NOT doing the NI43-101. That remains confidential until released - as it should.
"I got nothing back on the CVRG pump suggestion. Does no one else think its odd that this decision was made? I dont know what it means but I really have trouble believing SRSR had nothing to do with it."
You are treading on very dangerous ground here as what you are stating, if I am reading you correctly, is that Sarissa had a hand in moving the stock of CVRG in its latest burst to unreasonable heights. What you are suggesting is a very serious breech of securities law - stock manipulation. People go to the slammer for that. I think you need to do some serious retraction on this insinuation as the company could have recourse to challenge you on this as their reputation could be damaged by such an accusation.
benzdealeror2...thanks for the validating info! The report is not approved by any government agency - looks like we send copies to a few agencies after they are complete. If the government had to approve the report prior to its release, look to the year 2020 or beyond for completion.....Jim
Threw-er-back....maybe not now but in time!
Howie..."The NI43-101 could take months to produce. All the data must be assembled and reviewed by the company and the government. Then allow for back and forth communications till its approved. Then once approved it has to be scanned and released to the SEC and the public."
Absolutely incorrect! The governement does not and I repeat - does not review the material prior to its release. I believe that a copy of the NI report is filed with the Ontario Mines and Minerals Division, but no back and forth takes place. I don't believe that the SEC even receives a copy of it. Between you, I and all the others reading this post, the process will not be extended months from now. That's all I'll say....Jim
PS Please provide us with references for your statements.
texas ripper....Thanks ripper. Think I'll plan a fishing trip and go after some of those lake Nemegosenda Lake Trout. Love to fry them up rolled in Niobium....Jim
Let's stop bickering about the insignificant and focus on the important aspects of this investment!!!!
This stock has never had and I repeat...NEVER HAD...original data on the property. All the info that we have had was basically a restatement of the old Dominion Gulf stats, the Sage report, etc.. - along with a few grab samples that we took from the adit.
The NI43-101 that all are anxiously awaiting will be not only data from the past, but more importantly, new data that has been established by Sarissa Resources, Inc. from the 9 hole drilling program of 2008/2009. This is historic people! This report will not only validate the old data, but will increase the original resource estimate by a factor of 2X plus.
The historic resource of D Zone was estimated to be a whopping 188,000,000 pounds of Niobium. That alone is a staggering resource valued today at $3,700,000,000.
The drilling that Sarissa has just completed outlines a resource in D Zone of 404,786,606 pounds of Niobium. Here is the BIG DIFFERENCE between then - all the past PR's and confirming Hawk Report of historic numbers - and now:
WE GOT OUR OWN DATA FROM OUR DRILLING PROGRAM!!!!! GET IT!! NEW BALLGAME PEOPLE. WAKE THE HELL UP!!!!
Quit moaning about when the NI43-101 will be out and if it will cause the price to spike to 30 or 40 or 50 cents...That's short-sided BS! This is a monster property and the biggest junior mining discovery that I have ever witnessed in 43 years of mining investing. This is a once in a life time happening.
We have a soon to be released report that will be (by figures used from the web site) not 188,000,000 pounds of Niobium (historic value which would have been a just absolute dynamite), but more than double that amount - 404,786,606 pounds of Niobium that values out at around $8,095,732,120.
This is absolutely fabulous, but know what? This isn't even the best part of our property! We got a bit more in the SE Zones - Zones A,B,E,F,& G. The "preliminary" conservative amount of total resource is estimated at 170,000,000 pounds of .35% Niobium. This estimate works out to 1,311,737,000 pounds of niobium - That's a factor of 3.24 X's larger than our D Zone amount.
You can all sell into the news about the D Zone world class deposit and make some really good cash. Your choice. The real big money here will be made when we prove up the SE Zones that will place this little Pink sheet stock as the SECOND LARGEST NIOBIUM DEPOSIT IN THE WORLD. Good investing all and have a safe Holiday....Jim
buffalo fan...."From the SRSR press releases I see that Alan Hawke is the "qualified person" for Sarissa. Two questions:
1)My understanding was that the qualified person needed to be independant. The PR's note that Alan is a director of Sarissa so how can can he be independant?
2) Does anyone know about Alan Hawke and his credentials? Are we in good hands?"
The qualified person does need to be independent. As quoted in the NI43-101 info that I and someone else sent to you:
"1.4 Independence - In this Instrument, a qualified person is independent of an issuer if there is no circumstance that could, in the opinion of a reasonable person aware of all relevant facts, interfere with the qualified person’s judgment
regarding the preparation of the technical report."
Allan Hawke is NOT doing the NI43-101. The company has contracted an outside "QP" to do it.
2) Check Alan Hawke's credentials as listed on the company's web site. You make the call if he is credible.
doberman....Great article! Hint of possibilities to come?
offshore48....You're welcome.
The NI43-101 cannot be done in house. This necesitates the company to find a "qualified person" from the outside to complete the report.
You better believe that before the report goes public that Alan and Cam (SRSR resident geologists) will have the entire report scrutinized to the last detail. The time it takes for these evolutions to occur are an ultimate safeguard to the company, the shareholders, and the investing public at large. There is nothing slipshod or "pinkie" about this pink sheet company....Jim
mariner78..."Given the connections we have with China through our geologist, though, combined with their recent appetite for mineral wealth (see the Chinese buy-in to Lynas Resources), it wouldn't surprise me if we ended up with an off-take agreement with them."
Excellent point! I believe that you, Leigh, and myself are all on the same page. The real point of all of our posts concerning this was to point toward the possibility of a Chinese off take agreement.....GL....Jim
mariner78....shipping most probably won't be a concern to the company as prices for completed product will most likely be quoted FOB the mine. As the costs of shipping will not be a concern to SRSR, it will be a major consideration for the buyer. Leigh rightfully pointed out that the Japanese and Chinese are best to look at securing product from Canada vs. Brazil as the shipping costs will be substantially lower from canada....Jim
buffalo fan...."Can someone summarize the process steps of how the NI 43-101 works."
Dig in!
http://www.osc.gov.on.ca/Regulation/Rulemaking/Current/Part4/rule_20051007_43-101_sd-mineral-projects.jsp
JPGetty...."There may be political ramifications involved, too, as South America can be somewhat "troublesome" at times."
Another great point! Brazil has been fairly stable, but you never know what can happen down south politically. On the other hand, Canada provides a more stable and consistent business platform.
Leigh01'..."From a shipping perspective, in nautical miles, Canada is much closer to Japan and China than Brazil."
Really great work on that post! The assumption for the future is very clear as shipping costs are a big factor. SE Asia will be looking toward Canada for supply before Brazil. Another reason to believe that a Chinese off take agreement is in the making....GLTU...Jim
Edge83....Wonderful post!
There seems to be a lot of questions on information that is readily available. First, one should study all that is available on the management and company. Next, contact the company and ask questions. Lastly, read the board and get to know the sincere contributors that provide fact based information and then check their sources for consistancy and math for accuracy. There is no substitute for hard and diligent investigation when it comes to your hard earned money.
I would never take a position in this stock or any other junior exploration miner that I didn't acquaint myself fully with the management team (#1 reason to buy) and the property/properties in question. No one on this board is responsible for providing accurate and unbiased information. Although I do believe that there are many on this board that have been really spot on in their DD and sharing of same. You need to be around awhile and determine who is trustworthy, who are the unrealistic pumpers, and who are the agenda driven detractors....Good fortune to all and my sincere hope that we can make a good profit here.....Jim
WORLDWIDE NIOBIUM RANKINGS
1) CBMM - The world's largest Niobium miner located in Araxa, Brazil. Their reserves total a staggering 460,000,000 tonnes @ 2.5-3% Ni - 27,381,132,000 pounds Niobium.
2) Anglo American of Brazil - World's second largest niobium producer that has 18,000,000 tonnes @ 1.34% Ni - 531,749,520 lbs.
3)Iamgold - Niobec mine in Quebec - 303,000,000 lbs. Niobium
These 3 companies account for 85% of the world's Niobium.
When SRSR fully proves up the D Zone and all SE Zones, the company could be very close to 2 Billion lbs. of Niobium. This occurance would rank Sarissa Resources, Inc. as the second largest Niobium deposit in the WORLD.
I can wait for this eventuality to unfold....GLTA....Jim
PS - We are presently waiting on a NI43-101 report that will provide the company of its first definition of its Niobium deposit. In just one zone presently under scrutiny, the figure on the report could be in excess of 400,000,000 lbs. of Niobium. Should this occur, Sarissa would move to the #3 ranked Niobium deposit in the world and #1 in North America.
Howie..."The cost is very little. They use a bucket loader/backhoe type of equipment. Bulldozers are the order of the day. Cost is not a big factor."
I tend to agree as the open pit is not as labor/equipment intensive as an underground. In the Chapleau area, they have experienced miners and access to power, water and rail. I don't see any problem with extraction, processing, or shipping (rail line real close). The key will be the market price and that is projected to increase 6-8%/year even with a worldwide recession....Jim
PS Ontario is a very mining friendly Province!
Jon....It was a very good question. If it costs more to pull out of the ground than what the market can pay, we're cooked.
I can almost guarantee that Scott and co. have already determined a rough cost estimate that leads them to believe the mine will be profitable.
Secondly, at this stage (defininmg of the resource), it is only important to establish and define the deposit. Who knows, we may have a buyer for the property already and all that is needed is a resource NI43-101.
good luck...Jim
Jon..."Im curious why no one has answered the question about the cost of the drilling. if we are sitting on 9 billion of material and its going to cost 8 billion to extract it this changes things greatly. Does anyone have any ideas or projections on the cost to extract this from the ground?"
I already answered this question earlier to another poster. The costs would only be a wild guess right now and will take a very extensive feasibility study. It appears as though the mine will be an open pit, which is certainly less costly to operate than an underground facility. First things first. We need to define the resource now - then on to proving up reserves and getting a profitability study.
From this AM:
"The company is in the process of defining a Niobium resource on their Lake Nemegosenda property. We anticipate getting an "indicated" resource categorization from the much anticipated National Instrument43-101 report that is presently being worked in by a third party "qualified person". Our resident qualfied persons - Drs. Cam Cheriton and Alan Hawke - are not allowed to do the study as a safeguard against undo prejudice.
There is no financial cost data involved with defining the resource. We are expecting to get an amount of Niobium - total tonnage of resource (deposit tonnage X % Niobium/tonne). The categories are measured, indicated, and inferred with measured being the most decisive. We presently have enough sampling data from the distant past and from our recent 9 hole drill program to define an "indicated resource" that could exceed 400,000,000 lbs. of Niobium. We know that the market is somewhere between $20-$25/ lb. Do the math and you'll come up with what our resource is worth in the ground.
As far as getting the actual costs of mining of the "resource" and the profitability of same, a prefeasability study will need to be performed. After more drilling of the Zones and applying the costs in another very costly and time-consuming study, Proven and probable reserves can be established. Right now with the present data, we are anticipating getting "Indicated" and "inferred" resources. "Resources" now and "reserves" later.....Jim
FastEddie....."I see a lot of calculations on value and PPS has anyone concidered the cost to mine in the calculations?"
The company is in the process of defining a Niobium resource on their Lake Nemegosenda property. We anticipate getting an "indicated" resource categorization from the much anticipated National Instrument43-101 report that is presently being worked in by a third party "qualified person". Our resident qualfied persons - Drs. Cam Cheriton and Alan Hawke - are not allowed to do the study as a safeguard against undo prejudice.
There is no financial cost data involved with defining the resource. We are expecting to get an amount of Niobium - total tonnage of resource (deposit tonnage X % Niobium/tonne). The categories are measured, indicated, and inferred with measured being the most decisive. We presently have enough sampling data from the distant past and from our recent 9 hole drill program to define an "indicated resource" that could exceed 400,000,000 lbs. of Niobium. We know that the market is somewhere between $20-$25/ lb. Do the math and you'll come up with what our resource is worth in the ground.
As far as getting the actual costs of mining of the "resource" and the profitability of same, a prefeasability study will need to be performed. After more drilling of the Zones and applying the costs in another very costly and time-consuming study, Proven and probable reserves can be established. Right now with the present data, we are anticipating getting "Indicated" and "inferred" resources. "Resources" now and "reserves" later.....Jim
tony...Even tho I made the dollar offer as a joke, if Scott was to get an offer right now of $746,000,000 for the property, he'd jump at it. I know I would!...Jim
homey....Sorry, a buck is all there is. Never promised you a rose garden....Jim
Tony....The dollar's on the way - might's well send that plane ticket now....Jim
"Shameless pumper".....I think that I'll change that projected pump to $2/share!....LOL...Jim
Who is buying???
Appears as though we got some serious money coming in. Some here believe that it may be coming from some of the CVRG profits - probably true. They had a quick run and many took profits and some bot SRSR with them.
I also think that there are serious interests who may want to buy up as much of the float as possible. If I was the worlds 1st, 2nd (both in Brazil) or the world's 3 rd larget producer of Niobium (Canada) and I knew that a small start up company with a potential of 1.7 billion lbs of a Niobium resource would be elbowing in on this market in the next few years, I'd want to buy them out. Think that an offer of a buck a share might get Scott's interest? Food for thought...Great day...Jim
stocktrotter...Yes, the 3D mapping of Zone D was done or at least was scheduled for completion awhile ago. I don't expect it to be a part of the NI as the main reason for its construction was for presentations etc. at least that was my take on it. Anyone else have an idea on this?
OntaREEo.....The long term is just exceptional, but It appears as though we got some play right now - probably in anticipation of our Zone D compliance report soon to hit. Times aren't boring!!!...Jim
EXCERPTS FROM NEWS RELEASES DEFINES THE OPPORTUNITY
There is no one PR that really summarizes Sarissa's direction and potential, but Scott Keevil has given us significant singular phrases in a number of communications with shareholders to subtly suggest to shareholders what the future has in store.
"The Province of Ontario is an area that combines vast regions of high mineral potential with comprehensive mining laws ensuring secure land tenure. In addition, through the Ontario Ministry of Northern Development and Mines, a world-class geo-science data infrastructure is available to assist in the identification of significant exploration and development opportunities."
"In summation, we are in one of the world's most exciting industries where one discovery can drastically change a company's future. With continued economic growth and development in China and India we continue to see increases in demand for most commodities, and I believe Sarissa stands in a good position to offer excellent upside potential."
"The fact is mines are made, not discovered, and Sarissa is in a position any junior exploration company would be envious of. Hypothetically, we could have gone out and spent 10 years and $10 million to find properties, explore them and possibly outline an economic ore body, and still not have what we already have now."
"The report concludes that the Nemegosenda property is a property of merit and a work program has been recommended, including diamond drilling, to obtain a 43-101 compliant reserve estimate on the main ore-body in Zone D. A further program is recommended to conduct follow-up exploration in Zones A, B, E, F and G south east of the main deposit to develop reserve estimates on known niobium occurrences in these areas. Additional exploration work will also include analyses for tantalum, rare earth elements ("REE"), and uranium."
"Of particular note, four core samples from Zone D, the Breccia Complex and Zone G were elevated (up to 0.5%) in rare earth's lanthanum (La), neodymium (Nd), and cerium (Ce)."
"The circular reported that approximately 1,000 tons of mineralized material was mined from the D Zone, of which 40 tons were shipped for metallurgical pilot plant testing. The results of the test yielded 90% recovery of niobium."
"The D Zone historical reserve estimate of 20,000,000 tonnes grading 0.47% Nb2O5 is within the range currently considered economic in carbonatite-alkalic rock complex literature for commercial production. Tantalum and REE are commonly associated with these niobium occurrences. Therefore the economic potential of the Nemegosenda complex could be substantially greater than what has historically been inferred by the presence of tantalum, REE, and uranium. Also, the East Zone area has good potential to substantially increase the overall reserves of the Sarissa property as described earlier."
Mr. Keevil continued, "This will be a very exciting time for us; drilling in the East Zones for lateral and vertical extensions of existing mineralization could add significantly to the property value. Meanwhile, with all the past work and analyses done on the D Zone by Gulf and the OGS, re-drilling that will be a little like shooting fish in a barrel."
"Mr. Hawke, currently based in Tianjin, China, will offer his considerable experience to assist Sarissa in the ongoing exploration program of its Nemegosenda carbonatite deposit and extensive industry connections to source new and compelling exploration properties for the Company's property portfolio.
His operational know-how and deep-rooted business connections will help create enormous value for Sarissa shareholders."
"We have made phenomenal progress in this short time, effectively graduating from a very junior exploration company with exciting yet undeveloped potential, to a company with ownership of a world-class asset, one with a historic reserve base reported at 20 million tons of 0.47% Nb2O5 material, as outlined initially by Dominion Gulf Company."
"While we have no control over world markets or the value of resources, we do have control over the definition of those resources. To that end, a significantly larger resource base will be aggressively pursued through confirmation of the main ore zone; explorations for extensions of the main ore zone; more detailed analysis for possible additional values in uranium, tantalum and rare earth elements; exploration on the East Zones to further define the known niobium occurrences there; as well as exploration on some of the under-explored areas of our property."
Leading the charge on this front, we have been fortunate to attract some top-notch geological talent to the Board of Directors to assist us in analyzing the historic data, and in planning and implementing ongoing exploration activities: Dr. Cam Cheriton, a Harvard University educated Economic Geologist with a vast knowledge of the geology of Northern Ontario; and Alan Hawke, a seasoned exploration geologist with outstanding credentials both in mineral exploration and in mine building.
"In addition, Gulf internal correspondence on the East Zones, dated January 5, 1972, reported that drilling of 7960 feet in 19 holes has indicated, "Nb2O5 mineralization similar to Zone D... In addition to niobium, the Eastern Ore Area contains rare earths such as cerium, yttrium, lanthanum and neodymium... all rare-earth elements are present in significant amounts in the East Ore Area except promethium and lutetium." The correspondence continues to say; "Initial assay results from material collected in 1971 indicate the presence of a major ore body (bodies) of light rare-earths and columbium [niobium] in the East Ore Area with the possibility of heavy rare-earth elements as a by-product."*
"The positive results we have obtained from samples to date, coupled with the extensive historical data base available to us have given us the confidence to immediately commence with drilling, which we expect to move us toward the delineation of a 43-101 Resource Statement in the main D zone," said Scott Keevil, Sarissa CEO. "In addition, the program has the possibility of extending the depth of the mineralized zone, which Gulf had identified to 600 feet, but had stopped in mineralization."
"The assay results of drill hole DDH-08-69 (see releases dated January 13, 2009 and January 22, 2009), along with radiometric readings of the other completed drill holes, plus the ongoing geological interpretation support the premise that the Nemegosenda property could host a world class niobium deposit within the D Zone. Further mineralized occurrences have also been identified in the South East Zones *"
“It’s gratifying to see the drilling results confirming, and improving on, what had been historically reported. I’m also very happy that we have been selected to display our drill core and geological information at the Core Shack area of the PDAC, and look forward to meeting some more of our shareholders there.”
"The results from these holes continue to confirm and extend the known mineralized portion of the D Zone, including indicating the presence of further significant mineralization at depths below what had previously been reported in historic drilling results."
"With the positive results being obtained in the D Zone, the Company has been re-assessing the historical data from the SE Zones. This area covers an area approximately 500 by 1200 metres that was originally drilled by Dominion Gulf Company (“Gulf”) in the 1950’s. Nine of the holes that Gulf had drilled were re-analyzed by Musto Explorations Ltd. (“Musto”) in 1988. These cover an area of some 700 x 400 metres, to a depth of some 200 metres. The weighted average from 1393 metres of “re-assays” was 0.35% Nb2O5."
"The Company is encouraged with the drilling results, which are continuing to outline a significant area of mineralization within the D Zone that appears to be getting deeper towards the east. The results from deeper holes indicate the presence of further significant mineralization at depths below what had previously been reported in historic drilling results, confirming Sarissa’s theory that the deposit remains open to depth. It has also demonstrated that the mineralized zone increases in grade and depth towards the eastern portion of the zone."
"
"Sarissa's current drilling program has increased the confidence level in the historic exploration and subsequent evaluation to the point that an indicated resource may now be calculated for the D Zone."
The company is on schedule to produce an N.I. 43-101 mineral resource report. With our work to date, we expect the results of our evaluation to accomplish a number of objectives, including:
--
1) Materially increase the reported historical resource and;
2) Establish that the Nemegosenda mineral resources represent one of the larger mineral niobium resources in North America;
3) Outline the potential mineralized area within the South East Zone.[U]
Spark and all....Thanks for the warm welcome. If the stock goes into the Cr%&$er next week, I'll expect a tar and feathering....LOL.
All I do is gather data that is publicly available and synthesize it for our practical use - as in making a good investment decision.
As all the old timers here know, Scott is not a pump and dumper with the news. All PR's are very dry, factual, and succinct. There is no fluff or issuing a Pr to support the price. He has taken great pains to be accurate and understating in his construction of news releases. Scott and Merle will not give you the time of day in a conversation if it meant breaching a securities law. I respect the way they have gone about their business these past months. I am sure all the diligence and our patience will pay off....I just don't know when.LOL.....Jim
Piecemaker....Yes, this deposit when fully proven up will place us securely in the #1 spot in North America. It is the SE zones that will place us into absurdidty.
Now all can appreciate what Merle is always telling investors - "If I had to dream up a perfect property, I'd never have the audacity or vision to duplicate what we have at Nemegosenda"....Jim