SEMAFO DISCOVERS TWO NEW GOLD ZONES AT SAMIRA HILL, NIGER
Montreal, Quebec, January 15th, 2008. - SEMAFO (TSX - SMF) today announced having discovered two new gold zones each at its Samira Hill gold project. The first structure, Sikia 1, is located to the southeast of the Libiri pit. Work to date indicates Sikia 1 runs 1km in length. The second structure, Libiri Plateau is located to the northeast of the Libiri pit and has been identified as running 500 meters in length while still open at both ends. The discoveries emanate from the Company's 2007 Samira Hill exploration program aimed at increasing the project's overall resource and reserves thereby increasing mine life.
Geophysical Surveys
The second part of an IP survey (dipole-dipole, AP, n=1 to 6), carried out by Sagax-Maghreb was completed in Q4. The latest results show new and high potential gold zones exist in the eastern extension of the Samira-Libiri conductive zone, and to the North at the Boulonjounga gold prospect. Both zones are within economic transport distance of the existing Samira Hill plant. Further drilling of both Sikia 1 and the Libiri Plateau will take place in 2008.
New Zones
The gold-bearing, highly conductive horizon runs through the Samira and Libiri deposits and extends on more than 10km in an eastward direction in the southern grid area. Testing by RC drilling of the IP potential zones provided gold intersections at Sikia 1 and the Libiri Plateau. Both Sikia 1 and the Libiri Plateau targets lie within the eastward continuation of the Samira-Libiri deposits rock sequence, along the extension of an elongated IP signature going through the deposits themselves. Highlights are shown in the tables below. Complete tables of mineralized intersections are available on the Company's website. THIS PRESS RELEASE ALSO CONTAINS A MAP, CLICK HERE TO VIEW.
TABLE OF RC DRILLING RESULTS
SIKIA 1 GOLD TARGET |
HOLE No. |
FROM (m) |
TO (m) |
LENGTH (m) |
AVERAGE Au (g/t) |
07SKRC05 |
38 |
47 |
9 |
1.14 |
07SKRC18 |
71 |
79 |
8 |
2.16 |
07SKRC19 |
51 |
61 |
10 |
1.68 |
07SKRC25 |
108 |
113 |
5 |
1.99 |
07SKRC26 |
33 |
40 |
7 |
1.27 |
07SKRC30 |
95 |
103 |
8 |
1.19 |
07SKRC31 |
25 |
36 |
11 |
3.23 |
07SKRC32 |
76 |
81 |
5 |
2.39 |
07SKRC34 |
33 |
43 |
10 |
1.53 |
07SKRC35 |
75 |
84 |
9 |
1.44 |
07SKRC36 |
90 |
98 |
8 |
3.87 |
07SKRC37 |
81 |
83 |
2 |
7.07 |
07SKRC40 |
45 |
51 |
6 |
1.22 |
07SKRC48 |
71 |
76 |
5 |
1.38 |
07SKRC52 |
73 |
81 |
8 |
1.62 |
TABLE OF RC DRILLING RESULTS
LIBIRI PLATEAU GOLD TARGET |
HOLE No. |
FROM (m) |
TO (m) |
WIDTH (m) |
AVERAGE Au (g/t) |
07NTRC02 |
25 |
35 |
10 |
1.13 |
07NTRC05 |
19 |
28 |
9 |
1.17 |
07NTRC07 |
57 |
59 |
2 |
5.64 |
07NTRC12 |
53 |
66 |
13 |
2.82 |
07NTRC15 |
50 |
54 |
4 |
1.06 |
07NTRC37 |
47 |
59 |
12 |
3.59 |
and |
67 |
75 |
8 |
2.84 |
07NTRC38 |
68 |
74 |
6 |
1.27 |
07NTRC41 |
96 |
104 |
8 |
1.31 |
and |
110 |
120 |
10 |
1.35 |
07NTRC51 |
93 |
106 |
13 |
1.07 |
07LPRC02 |
17 |
28 |
11 |
0.89 |
and |
25 |
28 |
3 |
1.35 |
and |
57 |
59 |
2 |
1.23 |
07LPRC05 |
52 |
55 |
3 |
2.38 |
07LPRC09 |
25 |
27 |
2 |
2.44 |
and |
91 |
99 |
8 |
3.77 |
LPRC11 |
38 |
43 |
5 |
1.18 |
All lengths are down hole lengths; additional information is required to determine true widths.
RC drill holes completed indicate that the sequence of rocks encountered in both zones has substantial similarities with the Samira and Libiri ore deposits currently being mined.
Our exploration programs have been designed and managed on site by our exploration teams under the supervision of Michel Crevier, P. Geo MScA, Semafo's Director of Geology and Qualified Person. Mr Crevier has reviewed this press release with regard to its conformity with Canadian Instrument Standard No. 43-101.
All individual drilling samples represent one-meter of drilling which were split in half for cores and RC drill cuttings riffled split to end to 1kg samples. One half core or a 1kg RC sample was kept on site as a control and an equivalent sized sample was then sent for preparation and gold assaying at the Abilab laboratories in Ouagadougou, Burkina Faso. Each sample was fire assayed for gold content on a 50-gram pulp sub-sample at the same Abilab laboratories. Complementing Abilab's own QA/QC (Quality Assurance / Quality Control) program, a QA/QC program was in place throughout the sampling program, using blind duplicates and recognized industry standards.
ABOUT SEMAFO
Semafo is a Canadian-based mining company with gold production and exploration activities located in West Africa. The Company currently operates two gold mines with a third, the Mana mine in Burkina Faso, in the latter stages of construction. Semafo is committed to evolve in a conscientious manner to become a major player in its geographical area of interest, while maintaining values and strengthening relationships to increase shareholder value.
FORWARD-LOOKING STATEMENTS
This press release may contain forward-looking statements. These forward-looking statements include, but are not limited to, statements regarding expectations of the Company as to the market price of gold, strategic plans, future commercial production, production targets, timetables, mining operating expenses, capital expenditures, and mineral reserve and resource estimates. Forward-looking statements involve known and unknown risks and uncertainties and accordingly, actual results and future events could differ materially from those anticipated in such statements. Factors that could cause future results or events to differ materially from current expectations expressed or implied by the forward-looking statements include, but are not limited to, fluctuations in the market price of precious metals, mining industry risks, uncertainty as to calculation of mineral reserves and resources, risks related t
o hedging strategies, risks of delays in construction, requirements of additional financing and other risks described in the Company's documents filed from time to time with Canadian securities regulatory authorities. Although the Company is of the opinion that these forward-looking statements are based on reasonable assumptions, those assumptions may prove to be incorrect. Accordingly, readers should not place undue reliance on forward-looking statements. Readers can find further information with respect to risks in the Annual Information Form of the Company and other filings of the Company with Canadian securities regulatory authorities available at www.sedar.com. The Company disclaims any obligation to update or revise these forward-looking statements, except as required by applicable law.
For additional information, please contact:
SEMAFO:
BENOIT LA SALLE,
PR�SIDENT & CEO
TEL :  (514) 744-4408
E-MAIL :  BLASALLE@SEMAFO.COM 
RENMARK :
TINA CAMERON : TCAMERON@RENMARKFINANCIAL.COM
ERIC ST-PIERRE : ESTPIERRE@RENMARKFINANCIAL.COM
TEL :  (514) 939-3989
FAX : (514) 939-3717
WWW.RENMARKFINANCIAL.COM 
MORE DETAILED INFORMATION ON SEMAFO INC. CAN BE FOUND ON ITS HOME PAGE AT HTTP://WWW.SEMAFO.COM
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Semafo Inc
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PRODUCER |
CODE : SMF.TO |
ISIN : CA8169221089 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Semafo is a gold producing company based in Canada. Semafo holds various exploration projects in Burkina Faso. Its main assets in production are KINIERO in Guinea, SAMIRA HILL in Niger and MANA in Burkina Faso. Semafo is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 1.5 billions as of today (US$ 1.1 billions, € 1.0 billions). Its stock quote reached its lowest recent point on December 14, 2001 at CA$ 0.10, and its highest recent level on September 16, 2011 at CA$ 10.00. Semafo has 324 860 000 shares outstanding. |