SEMAFO Discovers New Gold Zone with 2.27 g/t Au Across
54 Meters
Up to 80-meter-Wide Continuous Mineralization Over
600-Meter Strike Length and
Remaining Open in All Directions
Montreal,
QC - March 10, 2011 - SEMAFO (TSX � SMF) today announced the discovery of the new Yaho
gold zone, located 4.5 kilometers southwest of the Fofina zone and 20 kilometers southwest of the Mana Mill. Three Reverse Circulation (�RC�) drilling
sections were carried out to date across this wide alteration zone with
each section returning wide, significant grade intervals such as 2.27 g/t
Au across 54 meters (hole MRC10-540 - section 15450N), 2.00 g/t Au across
20 meters (hole MRC10-542 � section 15450N), 1.37 g/t Au across 16 meters
(hole MRC10-514 � section 15650N), 4.59 g/t Au (10.73 g/t Au uncut)
across 10 meters (hole MRC10-526 � section 15850N), and 1.88 g/t Au
across 88 meters (hole MRC10-529 � section 15850N).
�The new Yaho discovery shows outstanding widths, surpassing
those originally obtained at Wona,� stated
Michel Crevier, SEMAFO�s Geology Manager and
Qualified Person. �It is also consistent with our current interpretation.
Located near a regional fold hinge, the Yaho
zone demonstrates that the fold hinges could represent an ideal
structural environment for gold deposition, as observed at some
world-class deposits elsewhere in West Africa and around the world.�
A follow-up
program on the Yaho zone is currently in
progress in order to trace its extensions both north and south of the
discovery area. We will subsequently perform a delineation program in
order to establish its true economic potential.
"This
new discovery is extremely strategic and timely. It will complement the Fofina - Fobiri discovery
in our analysis of production alternatives, which is scheduled to take
place at year end,� said Benoit Desormeaux,
SEMAFO�s Executive Vice-President and Chief Operating Officer. �This new
discovery has the potential to rapidly add significant quantities of ore
on the southern part of the Mana
property."
The three RC
sections were completed in late 2010, as a follow-up to auger drilling
anomalies. Results from these sections were received in January and
February 2011 and therefore have not yet been included to our December
31, 2010 reserves and resources estimate. The sections are 200 meters
apart and each one has returned significant grades over large widths. The
best results so far, come from section 15450N, the southern-most section
drilled to date. Moreover, holes MRC10-499 and MRC10-540 ended in
mineralization, therefore leading us to believe that the reported
mineralization will most likely be wider. Figure 1 presents a plan view
of the discovery and its relationship with current geological data, while
Figure 2 illustrates a cross-section looking north.
THIS
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The Yaho zone appears to follows a lithological
contact between mafic volcanic flows and a
sequence of interbedded graphitic sediments and
intermediate tuffs. A wide zone of alteration, measuring up to 80 meters
thick and dipping moderately to the west, hosts the mineralization
(Figure 2). It consists of sericite-silica
alteration coupled with pyrite-arsenopyrite
mineralization, similar to what is observed at Wona.
In fact, based on current geological and geophysical data, the Yaho host stratigraphy
appears to continue north before turning northeast towards the Wona host stratigraphy
(Figure 1).
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,
Exploration 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.
For RC and AC
drilling, all individual samples represent approximately one-meter in
length of rock chips homogenized and riffle-split to an approximately
2-kilogram subsample, which is sent for preparation and gold assaying at
the ALS Chemex laboratories in Ouagadougou,
Burkina Faso. Each sample (RC and AC) is fire-assayed for gold
content on a 50-gram sub-sample at the same ALS Chemex
laboratories. In addition to ALS Chemex�s own
QA/QC (Quality Assurance/Quality Control) program, an internal quality
control and quality assurance program is in place throughout the sampling
program, using blind duplicates, blanks and recognized industry
standards.
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
THIS
PRESS RELEASE CONTAINS HIGHLIGHTS AND FIGURES, CLICK HERE TO VIEW THE ENTIRE DOCUMENT IN PDF
FORMAT.
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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 �could�, �follow-up�,
�subsequently�, �potential�, �add�, �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 the Yaho zone to demonstrate that
the regional fold hinges represent an ideal structural environment for
gold deposition, our ability to perform a delineation program in order
to establish the Yaho zone�s true economic
potential, the ability of this new discovery to rapidly add significant
quantities of ore on the southern part of the Mana
property, 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, 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 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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