SEMAFO: Auger Drilling Programs Generate More Than 9.5 kilometers of
New Reverse Circulation Drill Targets at Mana
Montreal, Quebec, April 14, 2010 � SEMAFO (TSX: SMF) today provided an update on its Regional Exploration Program on Mana�s permitted properties in Burkina Faso. Ongoing successful auger drilling on the area surrounding the Nyaf� Pit has increased the strike length of anomalies over different structures to 8.7 kilometers. The Wona Corridor has also been extended an additional two kilometers to the northeast of the future Wona NE 1 Pit. High level anomalies have been generated over a cumulative 9.5 kilometers. RC follow-up drilling is already in progress.
Regional Auger Drilling
Auger geochemical drilling progressed well during the first quarter, with up to five rigs on site. Drilling on two target areas (Fobiri, Fofina NW) has been completed, while drilling remains ongoing on three additional blocks (Zina Bl�, Y1, and Wona SW). Assay results are complete for Fofina NW and partial for Fobiri, Zina Bl�, and Wona SW. (Refer to Figure 1 for block locations.)
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As reported in SEMAFO�s press release dated February 1, 2010, both the Fobiri and Fofina NW Blocks demonstrated prospective anomalies trending parallel to the Nyaf� ore body. The Fofina NW and Fobiri Blocks are located northwest and south of the Nyaf� Deposit, respectively. The Fofina NW Block covers a series of parallel geophysical lineaments similar to the Nyaf� Deposit, while the Fobiri Block covers the southwest extension of the magnetic lineament associated with the Nyaf� Deposit over a distance of 8 kilometers (Figure 2). Results to date have attained very high values: up to 1,910 ppb Au at Fobiri and 1,220 ppb Au at Fofina NW. At Fobiri, anomaly FOB1 was lengthened by an additional 200 meters for a total of 1.8 kilometers, while FOB2 and FOB3 were extended from 1.4 kilometers to 2.6 kilometers. Furthermore, a new fourth anomaly, FOB4 was recognized across 600 meters thus far, with additional results still pending. The three combined Fofina NW anomalies now total some 3.7 kilometers in length. Nyaf�s initial reserves extended over 2.2 kilometers and host 1.36 Mt at 5.75 g/t Au, representing 251,000 ounces of gold.
The Zina Bl� target (Figure 3) extends over a strike length of 2.8 kilometers to the north of the Kona Zone, and covers a distance of up to 5 kilometers north of the Wona Main Pit. To date, seven lines have been completed (1.4 kilometers). The anomaly associated with the known Kona Zone continues to generate anomalous auger results within the Saprolite over the entire grid, but more clearly over 800 meters. In addition, a new anomaly to the southeast was observed 600 meters southeast of the Kona trend and was also apparent across the entire grid. This new anomaly has returned saprolite sample results of up to 1,230 ppb Au and is associated with a combination of geophysical anomalies (magnetic and IP) similar to those characteristic of the Wona Deposit. There are no historical wo rkings on this new target. A preliminary RC program was recently carried out on the Kona Zone, with results pending and expected to be released in early May. In addition RC drilling was initiated on several sections of the Zina Bl� Block. Initial RC drilling results on Fofina NW and Fobiri anomalies are scheduled for release in June.
�These results continue to enhance our confidence and enthusiasm to discover the true potential of Mana as a mining district,� said Benoit La Salle, SEMAFO�s President and Chief Executive Officer. �The Company has committed an initial investment of over $9,000,000 in exploration activities at Mana in 2010. We believe that Mana is fundamental to the successful realization of our organic development as part of SEMAFO�s disciplined growth strategy moving forward.�
The exploration programs were designed and managed locally by Dofinta Bond� and David Lalonde, Mana Mineral�s Exploration Chief Geologists and Richard Roy, P.Geo, Deputy Geology Manager, and 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 Inc. 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.
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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 �targets�, �continued�, �extended�, �potential�, �ongoing�, �pending�, �expected�, �to be�, �committed�, �evolve�, �become� �pursuing�, growth�, �believe�, �strategy�, �moving forward� 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 of the various anomalies discovered by the recent exploration programs to translate into e conomically viable mining assets , the ability of Mana to become a mining district, the ability to complete our 2010 exploration program in Mana, the ability to find organic and strategic growth opportunities in West Africa, 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 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. |
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