Drilling Commences on Sarissa's Nemegosenda Carbonatite Property
* Wednesday November 19, 2008, 10:30 am EST
* Sarissa Resources, Inc.
BAY CITY, MI--(MARKET WIRE)--Nov 19, 2008 -- Sarissa Resources, Inc. ("Sarissa" or the "Company") (Other OTC:SRSR.PK - News) is pleased to announce the commencement of its Phase One diamond drilling program of the main D zone on its Lake Nemegosenda Carbonatite property near Chapleau in Northern Ontario. The drilling follows closely on the positive results obtained from samples taken over the past 6 months.
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The current drilling program has been designed to test the historically reported niobium inferred resource, initially identified and extensively explored by Dominion Gulf Company ("Gulf"), and subsequently written up in numerous Ontario Geological Survey reports. Gulf's extensive exploration and development work was conducted in the late 1950s and 1960s, and Gulf calculated the reserves in the main D Zone to be 20,000,000 tons of 0.47% Nb2O5 material in an area of 600 feet by 800 feet and to a depth of 600 feet*.
"The positive results we have obtained from samples to date, coupled with the extensive historical database 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 property comprises approximately 4800 acres (1800 patented, and 3000 contiguous acres staked in 2008) in Northern Ontario. The property is easily accessible off of Highway 101 between Timmins and Chapleau, Ontario.
Drilling is core at an NQ diameter initially. A program will be followed to ensure that samples are properly taken and recorded and a secure chain of custody is maintained between the drill and the labs. Assaying will be conducted at a certified laboratory.
The company looks forward to keeping our shareholders informed in the coming weeks through timely updates.
* These reported resources are historical in nature and, therefore, not compliant with National Instrument 43-101 reporting standards; however they are considered material to the prospectivity of the Nemegosenda Project. A "qualified person," as defined under NI-43-101, has not done sufficient work to comment on the relevance or reliability of these historical estimates. The company is not treating the historical estimate as, nor can the historical estimates be relied upon as, current mineral resources or reserves. Sarissa currently does not have access to more recent estimates or data relating to the Lake Nemegosenda property, except as outlined in this and previous news releases.
Alan Hawke, BSc. MSc. (Geology), a director of Sarissa, is a "qualified person" within the meaning of National Instrument 43-101 and has reviewed the technical information contained in this news release.
About Sarissa Resources
Sarissa Resources is a junior exploration company with interests in properties with base metal, precious metal, uranium, niobium and rare-earth prospects in Northern Ontario, Canada.
