Business & Finance
Business and Finance
Business and Finance 
Wed, January 6, 2010
Tue, January 5, 2010
Sarissa Resources Inc. Shining Tree Property Drilling Results
OAKVILLE, ON--(Marketwire - January 5, 2010) - Sarissa Resources Inc. ("Sarissa" or the "Company") (
The Shining Tree property consists of 16 claim units in the townships of Asquith and Churchill in the Shining Tree district of Ontario. On a regional scale, a series of mafic to felsic volcanic flows and tuffs underlie the property, which also appears to be centered on the axis of a regional geophysical gravity high. This high could be interpreted as an area of thick supra-crustal rocks and under-plating by oceanic crust that has been associated with the discovery of major gold deposits in Precambrian rocks of the Canadian Shield.
Sarissa had previously conducted surface exploration consisting of stripping and blasting work on the historical large scale Gosselin gold bearing quartz stockwork vein systems and wall rocks found within the central area of the property. This recent work identified a possible northern extension to the known area of Gosselin mineralization.
Two diamond drill holes were collared to test the newly identified northern Gosselin extension near surface (Drillhole SC-1) and the central Gosselin zone at depth (Drillhole SC-2). Hole SC-1 was drilled to a depth of 148.86 meters at an inclination of -45 degrees and encountered a series of quartz stock-work veins from surface to a down-hole depth of 32 meters hosted within foliated felsic volcanic. Veins and wall rocks commonly contained finely disseminated pyrite and chalcopyrite. Anomalous values for gold and silver were identified in several intervals within this zone. Underlying the quartz stockwork zone was a series of highly foliated felsic to mafic volcanic sequences showing varying amount of carbonatization and silicification alteration. Varying amounts of fine pyrite and chalcopyrite mineralization were also noted. Anomalous gold and silver mineralization is also evident in these rock sequences.
Drillhole SC-2 was drilled in the central area of the property to test for possible depth extensions of previously identified gold bearing horizons in historical drilling programs. SC-2 was drilled to a depth of 152 meters at an inclination of -45 degrees. This hole also encountered a series of foliated felsic to mafic volcanic units with varying amount of carbonate alteration and silicification. Fine pyrite and chalcopyritic mineralization was evident throughout these rock sequences; in some instances the mineralization was quite abundant ( > 5%). Significant values of both gold and silver mineralization in hole SC-2 are reported as follows:
Grams/Tonne Gold Grams/Tonne Intersection Depth Silver Meters From (M) To (M) 9.26 24.56 2.06 33.94 36 15.93 3.32 36 39.32 1.17 3.19 42.44 45.53 32.3 1.09 44.44 45.53 61.51 0.85 55.15 56 54.48 2 64 66 1.4 4.85 54.15 59 0.45 11 64 75 56.32 3.68 89 92.68
True widths for the intervals reported above are not known at this time. Sarissa's management is extremely pleased with these initial results as indications are that gold and silver concentrations in the central Gosselin zone area may improve with depth. Further drilling to test for depth extensions is presently being planned.
Warren Hawkins, P.Eng is a "qualified person" within the meaning of National Instrument 43-101 and has read and is responsible for the technical information contained in this news release.
About Sarissa Resources Inc.:
Sarissa Resources Inc. is a junior exploration company with interests in properties with base metal, precious metal, uranium, niobium and rare-earth prospects in Northern Ontario, Canada. The Company is specifically focused on the development of its Nemegosenda niobium project.
Safe Harbor
This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of Sarissa Resources, Inc., and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-statements include fluctuation of operating results, the ability to compete successfully and the ability to complete before-mentioned transactions. The company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.