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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers

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From: John McCarthy	8/9/2006 1:54:43 AM
	of 78416

Mineral Resources Qualification For The Ouest Balan Gold Deposit, Kiniero Mine, Guinea, West Africa TSX-SMF MONTREAL, Aug. 8 /CNW Telbec/ SEMAFO (TSX - SMF) today announced interim results from an on-going mineral resources qualification program on its Ouest Balan gold deposit actually developed on the Jean-Gobele exploration property, in Guinea, West Africa. This deposit is in close proximity to the Kiniero gold mine, being located five kilometres to the north as well as three kilometres west of the village of Balan. A reverse circulation drilling campaign was carried out during the first quarter of 2006 with the objective of upgrading the quality of the mineral resources of the deposit. This program returned attractive results, the most significant of which are shown at Table 1. The drilling confirmed the continuity of the mineralized structures over a 20 meter-vertical and 25 meter-horizontal grid extending over 600 meters along the north-south strike. A series of diamond drill holes are planned for the third quarter to complete the geological model necessary to qualify the new mineral resources as mineral reserves within Canadian National Instrument 43-101. The Ouest Balan gold deposit has been under development since 2003, following the discovery at that time of a prominent soil geochemical anomaly of 1400 meters long in extension over a width of 470 meters. The peak anomalous response was grading 2600 ppb Au (or 2.6 g/t Au). The first trench dug perpendicular within this anomaly returned an intersection of 2.50 g/t Au over 17 meters. The structures detected are found to be within a quartz stockwork with the main orientation striking N45 and with a sub vertical dip. The presence of a thick lateritic duricrust initially prevented the completion of other trenches planned to follow the lateral extensions of these structures. TABLE: cnw.ca Comment about this from RR Message 22429257

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