Highlights of Semafo's Exploration Progams:
Kiniero, Guinea and Samira Hill, Niger
Montreal, Quebec, June 20th, 2007. - SEMAFO (TSX - SMF) is pleased to provide an update of its 2007 Gold Exploration Programs with regard to its projects; Kiniero in Guinea and Samira Hill in Niger. For 2007, a budget totalling US$3.1M has been committed to the Kiniero project and US$3.3M to Samira Hill. Both programs aim at enhancing the gold reserves and resources base.
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Kiniero Exploration Program: Mineralization extends into West Balan
Exploration work carried out in January and February 2007 (WADS drilling and trenching) in the West Balan area has unveiled two new mineralized zones in an area situated 1km southwest of the core zone hosting 610,000 tonnes averaging 3.95g/t Au of reserves, and 414,469 tonnes at 2.33 g/t resources (100,573 tonnes at 2.42g/t measured and 313,896 tonnes at 2.04g/t indicated). The first discovery is located in the vicinity of the anticipated pit design area and has been identified over 275m by drilling containing mineralized intersections such as
RC1825 with 4.66g/t over 21m, RC1781 with 1.97g/t over 9m, RC1830 with 2.19g/t over 7m, and
RC1836 with 1.30g/t over 5m. The discovered structure is sub-parallel to the core zone, but with offset to the west. The second discovery is located 700m southwest of the first one. It was identified by two
trenches 50m apart that have respectively returned
1.38g/t over 15m at BMANTP2 and
1.47g/t over 4m as well as
5.96g/t Au over 2m at BMANTP1. Both trenches display structures that are sub-parallel to the mineralized core zone. The overall geometric configuration of the three zones is that of an "en-�chelon" or stepwise structure which is thought to be associated with a right-hand faulting. This new interpretation also opens potential for a structure to the northeast, in which previous drilling had been designed to verify continuous zones, but missed the new "�chelon" concept. The gold-bearing potential of this corridor is currently being investigated through an intensive exploration and delineation drilling programs (
see attached sketch).
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Samira Hill Exploration Program: The Samira horizon goes on.
The first part of an IP survey (dipole-dipole, aP, n=1 to 6) was completed by early April. This work was carried out by Sagax Mahgreb. Preliminary results are encouraging. The gold-bearing, highly conductive horizon (graphitic sediments) runs through the Samira and Libiri deposits and extends 9km in an eastward direction in the southern grid area where an offset or a folding is recorded. According to data from the airborne magnetic survey, it now seems that the said horizon could be located further to the south (and not to the north as previously thought), outside the area covered by IP work. It is now believed that the ore deposits develop primarily in the flex-zones, where maximum thicknesses of the bearing horizons are recorded. Good correlations have also been observed with resistivity and chargeability anomalies, as well as with soil geochemistry. Non-responsiveness of s
oil geochemistry to the East of Libiri could be solely attributable to the masking effects of the nearby river, whose bed is seemingly covered with an important influx of transported sediments.
Overall three zones are selected for follow-up:
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313,250E to 316,250E, and 1,481,500N to 1,479,250N in UTM WGS84
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317,500 E to 318,750 E and 1,481,500 N to 1,480,000 N
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311,750 E to 313,000 E and 1,483,500 N to 1,482,250 N
Zones 1 and 3 are shown on the attached sketch with black-inked contours.
It is worth noting that the anomaly detected in hole RAB06LERB129 shows 3.51g/t Au over 20m, including 5.78g/t Au over 9m, coincides very well with the fold apex shown in Zone 3. As far as Zone 1, it is already subjected to trenching, which have returned grades such as 3.1g/t Au over 4m (LT 68), 2.2g/t Au over 6m (05LTR01), 2.36g/t Au over 5m (05LTR02), and 1.82g/t over 9m (05LTR03). Zone 2, located more to the East, requires more basic exploration.
Current data demonstrate the presence of volcanics to the north of the meta-sediments/pyroclastics as previously stated; however to the south, no volcanics have been recorded (contrary to earlier assumption), thereby triggering new interest in investigating the possible extension and thickness of the gold-bearing horizon in the Saoura sector (East-Southeast).
All exploration programs have been designed and managed on site by the exploration teams and reviewed and supervised under the supervision of Michel Crevier, P. Geo MScA, Geology Manager and Semafo's Qualified Person, who has duly reviewed this publication with regard to its accuracy as well as and its conformity with the Canadian Instrument Standard No. 43-101.
In both Kiniero and Samira Hill, all individual drilling samples represent one-meter of drilling which were split in half for core and RC drill cuttings riffled spit to end to 1kg samples. One half core or a 1kg RC samples is kept on site as a control and an equivalent sized sample was sent for preparation and gold assaying to the Abilab laboratories Bamako, Mali for Kiniero, and to Ouagadougou, Burkina Faso for Samira Hill. Trench samples are also taken at 1m intervals to form 1kg samples. Each sample was fire-assayed for gold content on a 50g pulp sub-sample at the same Abilab laboratories. Complementing Abilab's own QA/QC (Quality Assurance/Quality Control) program, an internal QA/QC program was in place throughout the sampling program using among others, blind, duplicates and standard samples, according to recognized standard practices in the Industry.
The common shares of Semafo Inc. are traded on the Toronto Stock Exchange under the symbol � SMF �
FORWARD-LOOKING STATEMENTS
This press release contains �forward-looking statements�, including but not limited to, statements regarding the Company's expectations as to the market price of gold, strategic plans, future commercial production, production targets, timetables, mine operating costs, fixed assets expenses, mineral reserve estimates and to the company's perspectives. Forward-looking statements express, as of the date of this press release, our estimates, forecasts, projections, expectations and beliefs as to future events or results. Forward-looking statements are reasonable, but involve a number of risks and uncertainties, and there can be no assurance that such statements will prove to be accurate. Therefore, actual results and future events could differ materially from those anticipated in such statements. Factors that could cause results or events to differ materially from current expectations expressed or implie
d by the forward-looking statements include, but are not limited to, factors associated to fluctuations in the market price of precious metals, mining industry risks, uncertainty as to the calculation of mineral reserves, risks related to the grade of reserves, risks related to hedging strategies, risks of delays in construction and requirements for additional financing.
Semafo is a mining company whose mission is to explore, develop and mine major gold deposits in West Africa.
Semafo currently operates the Kiniero gold mine in Guinea, the Samira Hill gold mine in Niger
and is developing the Mana gold project in Burkina Faso.
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
Christopher Wells : cwells@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
