Sarissa Resources Inc (SRSR)

[roberttatge]

Comparing an operational mine, like BRAZIL'S well known mine, 43-101 to that owned by SRSR, if that tells us all, its marginal:
An historical resource for the REO was previously estimated by Jair Carvalho (geologist), an Extramil employee and is contained in a report filed with the DNPM on November 30, 1989. MBAC has received the digital excel spreadsheets utilized in the historical resource estimation. Extramil undertook an estimate based on 11 cross sections 40m apart with half distance influence. The cross sections were defined based on the above mentioned auger drilling, pitting and 16 of the 32 diamond drill holes. The estimate was then collated into an excel database with the half distance weighted average used to determine the average grade and tonnage.

Extramil reported, based on partial exploration of the property, 1.3 million tonnes at an average grade of 9.62% REO (using a 6% REO cut-off and density of 2.0 tonnes/m3). The 9.62% REO grade was comprised of the following:


CeO2 La2O3 Nd2O3 Pr2O3 Sm2O3 Eu2O3 Gd2O3 Dy2O3 Yb2O3 Y2O3
48.63% 29.46% 13.82% 4.24% 1.59% 0.33% 0.64% 0.30% 0.04% 0.94%

Mr. Beau Nicholls, the qualified person responsible for the technical disclosure in this press release information, has not done sufficient work to verify or classify the historical estimate as current mineral resources or mineral reserves; and MBAC is not treating the historical estimate as a current NI 43-101 mineral resource or mineral reserve. The qualified person is not able to relate the classification parameters used by Extramil to the NI 43-101 parameters of measured, indicated and inferred and no recent estimates are available. Accordingly, the historical estimate should not be relied upon.

To enable a current NI 43-101 mineral resource estimate to be completed and to verify the historical estimate by Extramil, the qualified person has recommended that MBAC undertake due diligence umpire sampling of 10% of the mineralized historical drill samples that are available along with undertaking a detailed topography and drill hole collar survey and bulk density sampling.

The following table contains significant results of historical diamond drilling on the Project. :


Table 1 - MBAC Araxá Project
Significant Historical Diamond Core Results
(Cut-off of 4% P2O5, and 0.75% for Nb2O5 used)
Hole number Interval Starting at
FS 04 A 17.50m @ 17.47% REO 0m
70m @ 11.43% P2O5 0m
35m @ 1.82% Nb2O5 0m
FS 03 A 118m @ 9.45 % P2O5 0m
27.5m @ 7.93% REO 0m
42.5m @ 1.28% Nb2O5 0m
FS 02 A 60.15m @ 11.10% P2O5 0m
12.5m @ 8.08 % REO 0m
57.65 @ 1.53% Nb2O5 0m
BAR - 01 78m @ 13.15 % P2O5 27m
BAR - 05 78m @ 11.8% P2O5 0m
36m @ 1.09% Nb2O5 0m

The FS diamond drill holes (HQ and NQ diameter) were drilled in 2008 and are located in the central portion of the REO anomaly and are approximately 80m apart from each other.

The BAR diamond drill holes (NW diameter) were drilled in 2004. BAR-05 is located 700m east of the FS holes and BAR-01 is 370m SE of the FS holes.

Drilling results for these two campaigns can be viewed at the following link http://files.newswire.ca/991/AraxaDrillingtable.pdf