SEMAFO�s Geophysical Surveys Add New Prospective Targets at Mana
Airborne Magnetic and Ground IP Surveys Refine 2011 Exploration
Targets
Receipt of Bombouela Nord Permit
Montreal,
QC - January 18, 2011 - SEMAFO (TSX: SMF) announced completion of a 985-km�
magnetic survey across most peripheral groups of permits and an extensive
induced polarization (�IP�) survey over the Nyaf�-Fofina
area at its flagship Mana Mine in Burkina Faso.
The
integration of the new airborne magnetic survey with the 2009 survey
previously completed across the central permits reveals prospective
magnetic trends over most of the new permits. This area includes the Massala and Saoura blocks
where high-grade grab sample values ranging up to 13.8 g/t Au were
obtained coincident with some of the trends observed. The IP survey over
the Nyaf�-Fofina area reveals new key
structural information which will guide the 2011 program in this area.
The ultra
high-resolution low elevation helicopter-borne magnetic geophysical
survey virtually doubles our magnetic coverage in the area. Important
magnetic trends reminiscent of the Wona Trend
(Figure 1) are observed within the newly covered areas. At our recently
acquired permit site, Bombouela Nord, Trend 1
seems to represent the north extension of the Wona
Trend, while at Mana East we identified a new
trend which merits further investigation.
The Massala and Saoura permits located
immediately north of the central group of permits covers a 15-kilometer
long gold-bearing volcanosedimentary unit,
which demonstrates similarities to the Wona
host rocks. Extensive old artisanal mining activity is evident at various
localitions within the Massala
and Saoura areas. In addition, SEMAFO grab
sampling completed along a 12-kilometer section of the more extensive
corridor returned many high-grade values ranging up to 13.8 g/t Au. The
new survey clearly shows the continuation of the Oula
Trend on to the Massala and Saoura
areas, while two other trends (Massala-Saoura
Trend 1 and Massala-Saoura Trend 2) were also
identified. Historical gold values associated with these trends highlight
their potential to host gold deposits. The 2011 exploration program will
focus on the priority trends identified herein through our systematic
approach that has proven
successful in 2010, particularly in the Fofina
and Fobiri areas.
Although the
magnetic survey only shows subtle trends associated with the Nyaf� Deposit and the Fofina-Fobiri
Zones, ground IP surveying provides additional geophysical information
that supports the structural and lithological
environment within the Fofina-Fobiri area. The
rocks in the Fofina-Fobiri area show zones of
variable resistivity and chargeability that appear to suggest open
folding of the different lithologies (Figure
2). The Fofina Zone and associated V Zones
appear to be located near the hinge of one fold, while the Fobiri and Nyaf� Zones are
related to their flanks. The Fofina Zone is
more precisely located within a distinct resistive zone within the broad
chargeable zone. Other anomalies of this type have been identified near
the fold hinges. The fold hinges as such remain untested by either
drilling or auger sampling and are devoid of outcrops. These areas are
favorable structural traps for hydrothermal fluids and hence gold
mineralization. The 2011 exploration program will include auger drilling
over the fold hinges and subsequent drill testing.
�The new
geophysical data will help bring our understanding of the structural and
geological environment to a new level,� stated Michel Crevier,
SEMAFO�s Geology Manager. �We already foresee new targets developing
based on these survey results and expect the upcoming HELITEM survey to
contribute even more. Coupled with the extensive 2010 drill program
information, the exploration crew is now focused on refining the
interpretation and establishing what should become an exciting 2011
program for SEMAFO at Mana.�
The 302-km�
airborne HELITEM electromagnetic (�EM�) survey over part of the central Mana group of properties is expected to commence
during Q1 2011.
SEMAFO is
also pleased to report that it has been granted the new Bombouela Nord permit, which is continuous and to the
north of the current group of permits (Figure 1). The Bombouela
Nord permit covers an additional 115 square kilometers of favorable Hounde greenstone rocks.
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: the Mana Mine in Burkina Faso, the
Samira Hill Mine in Niger and the Kiniero Mine
in 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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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 �prospective�,
�trends�, �reminiscent�, �seems�, �further�, �investigation�,
�potential�, �will�, �supports�, �committed�, �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 of historical gold values associated with the
identified trends to host gold deposits, 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 our 2010
First Quarter MD&A,2010 Second Quarter MD&A and 2010 Third
Quarter MD&A and other filings made with Canadian securities
regulatory authorities and available at www.sedar.com. These do cuments
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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