Hey Go & All my Long friends out here, So the (first) NI Report is finally out. And What a Report! I'll start with an opening comment by John C. Archibald: "It is my opinion this property has sufficient merit to justify the expenditure of the amounts indicated by the two phases of work recommended shown in the back of this report." I know it is just a rehash of what many people have been saying, but it is nice when the experts state for the record that this property warrants further study.
Environmental concerns were addressed in the report as well: "The adit is stable, solid and open right to the back with the old rails still in place, painted markings and survey points still visible. Sarissa Resources Inc. is unaware of any other environmental issues within the property other than the existence of the adit that was placed historically by Dominion Gulf in the late 1950’s. The historical trenching and outcrop stripping that was done by Dominion Gulf work in the 50’s and Musto Exploration in the late 1980’s is now slumped in and non-hazardous state. Potential runoff from any new trenching and road work within 120 meters of the lakeshore has been mitigated with silt dams, re-seeding and other reclamation procedures in coordination with the Ministry regulations. Basically, there are no real environmental concerns at this time.
They also are covering the sometimes subject of the Native People's wishes for the land they are working: "Sarissa Resources Inc. is in compliance with the wishes of the Traditional Land Owners in the area and corresponds frequently with both the local native bands and the Ministry of Natural Resources and MNDM over any issues that may arise. Once the project starts up, the corporation will be maintaining a certain quota of indigenous personnel on their work roster for the programs they wish to conduct."
Practical (financial) Points: "A block model of the results from these nine drill holes indicates a resource of some 11,000,000 tonnes of 0.46% Nb2O5 (12,127,500 tons at 0.46% Nb2O5) Sarissa’s re-estimation (2009) using just the ’D’ Zone block modelling by Alan A. Hawke BSc./MSc., of 45,265,343 tonnes grading 0.43% Nb2O5 of which 46% of the calculated blocks contained greater than 0.50% Nb2O5 for a minimum of 20,022,058 tonnes (translated to tons this drill inferred resource compares to 49,905,041 tons at 0.43% Nb2O5 and 22,074,319 tons at 0.50% Nb2O5 respectively..." This pretty much sums up what we have been saying all along; That the Nemegosenda property is a World Class mine and can produce a World Class amount of minerals, starting with but not limited to, Niobium.
If we Only had the inferred results of 49M Tons of .43% and 22M Tons at .50% of Just Niobium for this block section in Zone D this would be a Huge mine, but we know this is far from all we have here.
We also know now that Sarissa contracted multiple companies to Prepare and Assay the samples taken all supervised by Alan Hawke. Samples and Duplicates were assayed to ensure accurate results. "Core samples were delivered by Sarissa’s geological consultants to Swastika Laboratories where the samples were crushed and prepared for testing. Mr. Hawke inspected the sample handling and preparation procedures. Swastika then sent the prepared samples to Assayers Canada in Vancouver for assaying. Reference samples and duplicates were run by Assayers Canada."
Next thing that impressed me was the Magnitude of the property owned & controlled by Sarissa. I always knew it was big but to see it really shows just how big it is: "The property held by Sarissa Resources Inc. comprises 757.759 hectares of Patented Claims in Chewett and Collins Townships and 1152.304 hectares of un-patented mineral claims in Collins, McGee and Chewett Townships that are primarily covered by Nemegosenda Lake."
The map shows just how big the claim areas are and considering the mineral potential of the land here it is becoming ever more clear that the small section formally known as 'Zone D', now "Hawke Zone" represents only a fraction of the economic potential of this property.
All in all the report was quite thorough and detailed. It gave us all a more detailed picture of all the work that has gone into bringing this as far it has in the past 18 months. The recommendation section details the further drilling that Sarissa will need to do to get a complete & accurate picture of the economic potential of this One property in Sarissa's portfolio. And we have to remember they have other properties as yet unexplored...
Unlike some other's with somewhat pessimistic attitudes towards Sarissa's potential here, I believe with the need of the mineral resources that are available in the Nemegosenda property will dictate bringing this in as soon as it is possible to do so. We have only a small idea of the Billions that will be eventually pulled out of this property.
Remember that the people most intimately involved with this are all too aware that life is not an infinite resource and time should not be wasted. They want this to be a success as much more than any of us out here...
Cheers All, TheGoodlifeGeo
You don't have to be great to get started, but you do have to get started to be great. -Lee J. Colan
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