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."
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"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:
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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]
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