SEMAFO EXTENDS WEST BALAN GOLD ZONE 700M TO REACH 1.6 KM
Montreal, Quebec, January 17th, 2008. - SEMAFO (TSX - SMF) today announced that drilling has extended the West Balan gold bearing structure at its Kiniero gold project in Guinea, bringing the known strike-length of its South-West Balan extension to a total of 1,100m. This is the third extension of the entire West Balan structure, which is now recognized over 1,600m, while remaining open to the south-west. Work was carried out through a comprehensive RC drilling program during the second semester of 2007.
The mineralized structure is composed of sulfides/quartz-bearing veins and veinlets generally running east-north-east in direction, with steep dip to the south-east. The structure is locally intersected and enriched by a second group of veins of east-west direction (click here to see Fig. 1). The true thickness of the mineralized intersections still remains to be determined.
The West Balan extension has been tested by RC drilling on a 25m or 50m x 25m grid spacing on the first 350m and on a 100m x 50m in the newly discovered zone. As of now, a total of 28 drill holes have intersected the main structure on the 1,100m of extension, with variable thicknesses and grades. Among the most significant results to date, are RC2171 with 24m @ 5.90g/t, RC2026 with 7m @ 8.01g/t (including 1m at 17.1g/t) and RC2061 with low angle crossing mineralization 40m @ 4.66g/t Au (including 7m @ 12.95g/t). Drilling will resume on the 17th of January.
Highlights of RC drilling results to date are detailed below. A complete list of mineralized intersections can be found on the Company's website.
WEST BALAN - BLOCK B: 25m x 25m grid |
HOLE No |
FROM (m) |
TO (m) |
LENGTH (m) |
AVERAGE Au (g/t) |
RC1208 |
88 |
90 |
2 |
4,14 |
RC1701 |
32 |
39 |
7 |
1.7 |
RC1776 |
31 |
37 |
6 |
11.6 |
RC1781 |
32 |
47 |
15 |
1,58 |
RC1785 |
31 |
35 |
4 |
11,31 |
RC1825 |
23 |
44 |
21 |
4,66 |
RC1830 |
57 |
65 |
8 |
2,02 |
RC2003 |
75 |
85 |
10 |
3.52 |
RC2004 |
11 |
15 |
4 |
2.27 |
RC2007 |
46 |
51 |
5 |
12,03 |
RC2008 |
47 |
55 |
8 |
5.27 |
RC2009 |
15 |
18 |
3 |
12.58 |
RC2011 |
18 |
27 |
9 |
3,89 |
and |
45 |
48 |
3 |
2.38 |
RC2013 |
14 |
17 |
3 |
2.45 |
and |
33 |
35 |
2 |
15.32 |
RC2015 |
12 |
71 |
59 |
1,94 |
RC2017 |
30 |
34 |
4 |
1.96 |
RC2020 |
46 |
50 |
4 |
2.34 |
and |
71 |
78 |
7 |
4,84 |
RC2023 |
76 |
85 |
9 |
6,81 |
RC2026 |
68 |
75 |
7 |
8,01 |
RC2030 |
6 |
15 |
9 |
1.83 |
RC2032 |
10 |
13 |
3 |
11,76 |
RC2152 |
72 |
83 |
11 |
2,88 |
RC2161 |
10 |
13 |
3 |
4,54 |
RC2171 |
49 |
73 |
24 |
5,90 |
WEST BALAN - BLOCK C: 100m x 50m grid |
HOLE No |
FROM (m) |
TO (m) |
WIDTH (m) |
AVERAGE Au (g/t) |
RC2038 |
17 |
56 |
39 |
1,34 |
RC2044 |
62 |
71 |
9 |
1,55 |
RC2050 |
32 |
51 |
19 |
1,86 |
RC2057 |
38 |
46 |
8 |
1,25 |
RC2061 |
50 |
90 |
40 |
4,66 |
RC2064 |
16 |
23 |
7 |
2.40 |
and |
64 |
82 |
18 |
1,95 |
Note: Highlighted drill holes are selected on the basis of length times Au grade cut-off of 7.0
Note: Intersections in the tables have been calculated using a capping of 30g/t.
All lengths are down-the-hole lengths; additional information is required to determine true widths.
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 ALS-Abilab laboratories in Bamako, Mali. Each sample was fire assayed for gold content on a 50-gram pulp sub-sample at the same ALS-Abilab laboratories. Complementing ALS-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
Tel : (514) 939-3989
E-Mail : tcameron@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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PRODUCTEUR |
CODE : SMF.TO |
ISIN : CA8169221089 |
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
Semafo est une société de production minière d'or basée au Canada. Semafo détient divers projets d'exploration au Burkina Faso. Ses principaux projets en production sont KINIERO en Guinee, SAMIRA HILL au Niger et MANA au Burkina Faso. Semafo est cotée au Canada, aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 1,5 milliards CA$ (1,1 milliards US$, 1,0 milliards €). La valeur de son action a atteint son plus bas niveau récent le 14 décembre 2001 à 0,10 CA$, et son plus haut niveau récent le 16 septembre 2011 à 10,00 CA$. Semafo possède 324 860 000 actions en circulation. |