SRSR.PK .02
Canadian niobium explorer. Strong management, NI 43-101 due in the near term to confirm huge deposit. Once the NI 43-101 is completed, a move off the pinks will follow.
Sarissa poised to strengthen Canada's niobium position
by jennifer s. getsinger, PHD, Geo
Sarissa Resources, INC (SRSR-OTC Pink Sheets) reports significant new niobium-tantalum results and further developement for its 100% owned (subject to NSR) Nemogosenda Carbonatite Project, nothern Ontario. According to President/CEO, Scott Keevil, Sarissa recognized the property's potential four years ago through the geological knowledge of director Cam Cheriton (PhD, Economic Geologoy). The property on the easter shore of Nemegosenda Lake 50 Kilometers east Chapleau, was explored by Dominion Gulf in the 1950's and written up by the Ontario Geological Survey. In the 1980's reassessment of earlier results confirmed the possibility of a niobium-bearing orebody.
"There was no doubt there was an orebody-it just needed to be brought into NI 43-101 compliance," says Keevil. "And with the growth in the devleoping world, increasing the demand for high strength low alloy (HSLA) stainless stell, the demand for niobium products and grown markedly."
Sarissa director Alan Hawke (BSc, MSc, Geology) aims to confirm historical estimates of at least 20 million tons of 0.47% Nb2O5 by applying his expertise to a synthesis of know geological data and recent drilling results, which include averages of 0.44% Nb2O5 over 240 metres (including 45 metres of 0.77% Nb2O5) and 129 metres of 0.56% in two holes reported in April 2009.
Hawke says, "Results from past work, plus our own drilling, indicate this property contains not only one, but two world-class deposits of niobium mineralization." A comprehensive geological report compliant with NI 43-101 guidelines is expected soon.
At Nemengosenda Lake, Precambrian metamorphosed carbonatite (igneous carbonate rock associated with alkaline instursive complexes) hosts the niobium-bearing mineral pyrochlore, a rare earth oxide with a high percentage of Nb2O5. Although its name means green fire, pyrochlore is commonly reddish brown like garnet, but looks like spinel with its octahedral shape and characteristic triangular facets. Most field geologist find pyrochlore and its host carbonatite rocks difficult to distinguish from mineralized limestone or marble.
Dozens of caronatites in Ontario wer first identified using airborne geophysical surveys. Recognizing pyrochlore in drill core was made easier for clever geologist at Sarissa Resources when they noticed a correlation between scintillometer readings and Nb2O5 concentration, due to a small amount of included radioactive elements such as thorium and uranium in pyrochlore and/or in its associated mineral assemblage (for instance, zircon).
Because of niobium's unique properties, such as high heat resistance, high thermal conductivity, elasticity, corrostion resistance, ability to form stable adhesive layer of oxide, higher superconducting temperature than other metals and light weight in alloys, it is used in many high technology applications, from cell phones to bridges. Where strength-to-weight ratio or strength at high temperature are important, niobium is a preferred choice for steel alloys. For instance, the HSLA steel used to build the Millau Viaduct in France, an engineering marvel taller than the Eiffel Tower, contains alloyed niobium, and the International Linear Collider in Switzerland consumed some 500 tonnes of niobium in its 20,000 superconducting radiofrequency cavities.
Most world niobium comes from Brazil of Canada, with more than 100,000 tonnes of Nb2O5 coming from Brazil and just over 4,000 tonnes from Canada (2007 data from USGS). Increased niobium demand in the BRIC nations (Brazil, Russia, India, and China) may affect supply to Europe and the U.S.A. which lack niobium production of their own, so Canada's role in providing niobium and other strategic metals is critical.
Canada's largest producer of niobium in the Niobec Mine in Quebec (IAMGOLD). Several other Canadian niobium prospects include niobium-tantalum carbonatite holdings of Commerce Resources Corp. (CCE-TSXV) near Blue River, BC, and others. Although the nemegosenda property shows a lower over Nb2O5 grade than Niobec (historical estimate 0.47% and Nemogosenda, 0.6% at Niobec), Nemegosenda might be amenable to bulk mining in an open pit operation, a definite cost advantage. As well as the main D Zone where past estimates were calculated, Nemegosenda caronatite mineralization extends to a significant zone in the southeastern area of the property, where further definition drilling is planned.
According to Keevil, "This is definitely a world-class deposit in a safe and secure part of the world. If all we had was our D Zone we would be estatic, but we also have the much larger SE Zone that looks like it could host a further 170,000,000 tons of material."
Sarissa recently farmed out a 50% interest in its O'Connor Asquith gold prospect, northern Ontario, to Converge Global Inc. (CVRG-Pink Sheets). Converse must pay Sarissa $25,000; $15,000 annually for the next three years; spend $120,000 over 18 months on exploration and issue Sarissa 3,000,000 shares. Sarissa will be the operator.
