Business & Finance
Business and Finance
Business and Finance 
Thu, June 3, 2010
Sarissa Resources Inc. Summer Exploration Commencement
OAKVILLE, ON--(Marketwire - June 3, 2010) - Sarissa Resources Inc. ("Sarissa" or the "Company") (
This program will follow on from the successful drilling programs conducted recently. The first phase had been targeted to confirm the presence and depth extension of the niobium mineralization in the Hawke (formerly the "D") Zone, as previously identified by Dominion Gulf Company ("Gulf"). That phase indicated a near-surface resource of 11,000,000 tonnes of 0.46% Nb2O5 within the Hawke Zone as outlined in the Technical Report prepared by Billiken Management Services Inc. in July, 2009. Subsequent drilling in this Zone has continued to extend the mineralized area, and part of the current exploration plans include an updated resource calculation, currently underway with Billiken.
The second phase, completed earlier this year, targeted the South East Zone and included 2 drill holes. One hole confirmed widths and grades along the values obtained by Gulf in historic drilling (subsequently re-assayed and confirmed by Musto Explorations in the 1980s) in the approximate center of the South East Zone. The second hole extended the strike length of niobium mineralization in the South East Zone a further 400 meters south of the previous known limit.
Results from these previous programs continue to confirm the theory that the entire outer rim of the Nemegosenda intrusive complex is potentially host to niobium mineralization. Interpretation of the OGS magnetic data indicates that the circumferential strike length of the outer rim of the complex is approximately 13.9 kilometers. To date, exploration work has only tested a small portion of this strike length.
The current exploration program will focus on:
- Updating the resource calculations in the Hawke Zone,
- Further exploration to continue to test the lateral and depth extensions of the Hawke Zone,
- Defining the size of the South East Zone mineralized area,
- Defining the additional property potential along the remaining magnetic circular structure, including airborne geophysics,
- Preparation for a project scoping study.
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.
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.
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.