SEMAFO Auger Drilling Program Continues to Generate Priority Targets at Mana
MONTREAL, QUEBEC -- (Marketwire) -- 07/26/10 -- SEMAFO (TSX: SMF) today confirmed that the Company's auger geochemical drilling program continues to be very successful with new priority targets on the Y1 and BC1 blocks at its Mana Mine in Burkina Faso. Both the Y1 and BC1 blocks are along strike with the Wona deformation corridor, host to the Wona and Kona deposits. At BC1, four anomalous trends are recognized striking parallel to the Wona Zone, with three measuring 800 meters and one of 2.4 kilometers. At Y1, four trends are observed measuring up to three kilometers and coincide with a historical artisanal mining area from which grab samples returned up to 3.77 g/t Au. To further enhance exploration efficiency, induced polarisation ('IP') geophysical surveys have begun over three strategic areas.
The auger drilling program is progressing according to schedule, with a total of nine out of 15 work blocks within the priority target areas covered to at least 400-meter spacing. Anomalous areas will be more closely defined at 200-meter line spacing where required. A total of 7,500 holes totaling 52,000 meters have been drilled and 12,800 samples taken since inception of the program. This includes the previously announced Fofina NW, Fobiri, Wona SW, and Kona blocks, all of which have returned priority targets, and leading to the Fofina Discovery on the Fofina NW block (reference SEMAFO's press release dated June 17, 2010). Among the remaining blocks, BC1 and Y1 have returned priority targets that are scheduled for reverse-circulation ('RC') drilling follow-up in 2010.
At BC1, located 16 kilometers northeast of the Mana processing plant, four anomalous trends are observed along strike with the Wona Zone. The two southernmost anomalous trends have returned their highest gold content on the southwest limit of the outlined block (Figure 1). The grid is currently being extended to the southwest in order to define its extension. All four trends flank a prominent northeast tending magnetic anomaly. In addition, the grid will be reduced to 200-meter line spacing along the anomalies in order to better define RC drill targets.
At Y1, located 12 kilometers southwest of the processing plant, four anomalous trends are observed, one of which measures more than three kilometers in length (Figure 2). The relationship between the four anomalies correlates well with the magnetic data and suggests that the strike of the units change from northwest to north-northwest towards the south. These variations in strike can provide structural gold traps. The three-kilometer-long anomaly appears spatially related to a historical artisanal mining area also trending northwest, from which brecciated quartz-rich grab samples have returned values of up to 3.77 g/t Au. Further auger drilling is also scheduled at Y1 to better define the trends prior to RC drill testing. Additional lines will also be added to extend the block to the southwest since the anomalies remain open in that direction.
'We are very pleased with the ongoing favourable results from our exploration,' commented Michel Crevier, Geology Manager and SEMAFO's Qualified Person, 'We remain extremely dynamic in our exploration approach, which allows us to react immediately to incoming results and modify our plans as necessary in order to optimize our exploration program activities. Our target generation program is successful beyond expectation, and our RC exploration program has already validated our auger targets at Fofina. We continue to aggressively pursue the growth of our reserve and resource base at Mana.'
Scheduled exploration activities at Mana include three core drilling rigs and three RC/AC drilling rigs.
SEMAFO has also initiated an IP geophysical program on three selected blocks: the Fo-Fo, Y1, and Bombouela blocks (Figure 3). A total of 515 line-kilometers are scheduled and are expected to provide supporting geological data for target selection. The Fo-Fo block totals 201 line-kilometers and covers both the Nyafe Pit SW extension and the new Fofina Zone. IP data will help refine the geological and structural environment in the vicinity of the mineralized zones in order to extend the zones by drilling. At Y1 (211 line-kilometers), in order to optimize follow-up drilling, the IP survey will not only cover the identified auger anomalies but will also identify the most conductive areas within the wide favourable corridor, specifically where it shows a flexure that may have had an effect on gold distribution. Finally, at Bombouela, a total of 103 line-kilometers are scheduled. The Bombouela block covers a large favourable corridor between the Kona Zone, which currently being defined for reserve estimation, and the BC1 auger drill block. Within this block the Wona trend is somewhat hidden based on magnetic data, although still traceable. In addition, a series of stacked magnetic anomalies coming from the southeast may provide prospective structural discontinuities. It is expected that the IP data will help locate the Wona trend across this area into the BC1 block.
The exploration programs were designed and managed locally by Dofinta Bonde and David Lalonde, Mana Mineral's Exploration Chief Geologists with Richard Roy P Geo, Deputy Geology Manager, guided and supervised under the direction of Michel Crevier, P.Geo MScA, Geology Manager and SEMAFO's Qualified Person who has reviewed this press release for accuracy and compliance with National Instrument 43-101.
About SEMAFO
SEMAFO is a Canadian-based mining company with gold production and exploration activities in West Africa. The Company currently operates three gold mines in Burkina Faso, Niger and Guinea. SEMAFO is committed to evolve in a conscientious manner to become a major player in its geographical area of interest. SEMAFO's strategic focus is to maximize shareholder value by effectively managing its existing assets as well as pursuing organic and strategic growth opportunities in West Africa.
Caution Concerning Forward-looking Statements
This press release contains forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and assumptions and accordingly, actual results and future events could differ materially from those expressed or implied in such statements. You are hence cautioned not to place undue reliance on forward-looking statements. Forward-looking statements include words or expressions such as 'commence', 'progressing', 'schedule', 'will', 'underway', 'extended', 'suggests', 'optimize', 'to be added', 'evolve', 'become' 'pursuing', growth' and other similar words or expressions. Factors that could cause future results or events to differ materially from current expectations expressed or implied by the forward-looking statements include the ability to execute on our strategic focus, fluctuation in the price of currencies, gold or operating costs, mining industry risks, uncertainty as to calculation of mineral reserves and resources, delays, political and social stability in Africa (including our ability to maintain or renew licenses and permits) and other risks described in SEMAFO's documents filed with Canadian securities regulatory authorities. You can find further information with respect to these and other risks in SEMAFO's 2009 Annual MD&A, as updated in the 2010 First Quarter MD&A and other filings made with Canadian securities regulatory authorities and available at www.sedar.com. These documents are also available on our website at www.semafo.com. SEMAFO disclaims any obligation to update or revise these forward-looking statements, except as required by applicable law.
To view figures 1, 2 and 3, click on the following link: http://media3.marketwire.com/docs/smf_maps.pdf
Contacts:
SEMAFO
Benoit La Salle
President & CEO
514-744-4408
Toll-Free: 1 (888) 744-4408
blasalle@semafo.com
SEMAFO
Sofia St Laurent
Communications
514-744-4408
Toll-Free: 1 (888) 744-4408
sstlaurent@semafo.com