SMF great drilling results just out :)))
NEWS RELEASE PAGE
Headline: Confirmation of High Grade Gold at Mana's Nyafe Deposit
Symbol: SMF
MONTREAL, May 8 /CNW Telbec/ - SEMAFO (TSX - SMF) is pleased to announce
a first series of significantly high quality intersections from the on-going
RC delineation drilling program on its Nyafe gold deposit. This program is
part of the company's exploration programs instituted January 2006 aimed at
expanding total mineral reserves and resources. The Nyafe deposit is part of
the fully-owned Mana gold mine project. The three best intersections returned
(see details in table 1 below) are:
- 9 meters grading 14.96 g/t Au,
- 11 meters grading 11.06 g/t Au and
- 5 meters grading 20.92 g/t Au.
The current RC (reverse circulation) drilling program was announced on
April 13, 2006 and is still in progress. The Nyafe high grade gold deposit,
Semafo's original discovery in the country, is planned to supply about 10% of
the required feed at the Mana CIL (carbon-in-leach) gold recovery mill. The
mill is planned to be commissioned before the end of year 2007. The drilling
program will provide a more precise delineation of the geometry of the deposit
and improve the quality of the estimation of the mineral reserves in
preparation for the pre-stripping and mining. The delineation targeted calls
for vertical sections spaced at 25 meter-intervals and intersections spaced at
12.5 meters on each section.
Table 1 below shows the best intersections known to date. It should be
noted that, in line with past statistical analysis of the Nyafe mineralization
developed for the needs of the feasibility study, all high assay values were
cut down to 30 g/t Au. The reported lengths are measured along holes and do
not represent true widths.
<<
Table 1. - Best intersections to date from the RC delineation drilling
program-Nyafe gold deposit
Sections Hole no from to length Cut grade
m m m g/t Au
3225N NRC240 20 23 3 16,13
3225N NRC243 45 48 3 10,07
3275N NRC245 5 8 3 9,99
3275N NRC246 14 20 6 3,03
3275N NRC247 35 38 3 7,06
3325N NRC249 12 15 3 4,46
3775N NRC250 13 18 5 20,02
3775N NRC251 38 41 3 10,42
3800N NRC252 13 23 10 10,09
3800N NRC253 63 66 3 9,06
3825N NRC254 3 11 8 4,00
3825N NRC255 24 27 3 5,99
3825N NRC258 18 21 3 2,89
3825N NRC259 37 41 4 8,82
3850N NRC260 12 17 5 7,04
3850N NRC261 34 37 3 3,08
3875N NRC262 32 38 6 9,07
3925N NRC265 78 81 3 3,08
3950N NRC266 3 15 12 7,78
3975N NRC269 0 9 9 14,96
3975N NRC270 20 27 7 12,21
3975N NRC271 34 39 5 8,08
3975N NRC272 48 52 4 4,41
4000N NRC275 12 15 3 6,91
4000N NRC276 4 7 3 4,65
4000N NRC277 53 56 3 5,01
4000N NRC277 71 78 7 7,67
4000N NRC278 83 88 5 4,03
4025N NRC280 17 20 3 10,70
4025N NRC280 41 46 5 5,53
4050N NRC282 24 27 3 2,35
4300N NRC286 6 9 3 14,81
4300N NRC289 51 54 3 13,97
4325N NRC291 61 72 11 11,06
4350N NRC292 5 9 4 16,71
4350N NRC293 18 21 3 21,37
4350N NRC294 48 51 3 5,95
4375N NRC296 24 27 3 10,20
4375N NRC297 34 41 7 7,63
4400N NRC298 13 18 5 20,92
4400N NRC299 27 30 3 7,86
4425N NRC301 14 21 7 14,33
4425N NRC302 8 12 4 17,36
4450N NRC303 7 11 4 8,48
4475N NRC305 29 33 4 3,57
4550N NRC308 24 28 4 5,24
4550N NRC308 37 42 5 6,84
4600N NRC311 4 8 4 3,40
4800N NRC312 3 6 3 3,11
4800N NRC313 12 18 6 6,68
4825N NRC315 18 22 4 3,85
4825N NRC316 32 36 4 9,58
4825N NRC316 44 48 4 6,08
>>
The results available today represent about 50% of the whole program. The
choice of the results published is from the best 53 holes (69%). Final results
for the entire drilling program will be used to revise and update the
geological model, mineral resource and reserve estimates of the Nyafe deposit.
An update of the optimized pits will also be provided at updated economical
conditions relative to the 2004 Feasibility Study. The last publication of
mineral reserves (using a gold price of US$380) of the Nyafe deposit was
included into the Technical Report on the Mineral Reserves and Resources as of
Decembre 31st, 2005, and is available on SEDAR's web site. The following table
2 summarized the data for the Nyafe deposit.
Table 2. Mineral Reserves and Resources for Nyafe deposit (as of December
31st, 2005)
-------------------------------------------------------------------------
Nyafe
Mineral reserves Tonnage (t) Grade (g/t) Au In-situ ounces Au
-------------------------------------------------------------------------
Proven 411 400 7.62 100 800
-------------------------------------------------------------------------
Probable 265 500 6.34 54 100
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Total 676 900 7.12 154 900
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-------------------------------------------------------------------------
Nyafe
Mineral resources
-------------------------------------------------------------------------
Measured 0 0 0
-------------------------------------------------------------------------
Indicated 260 800 5.14 43 100
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Total 260 800 5.14 43 100
-------------------------------------------------------------------------
-------------------------------------------------------------------------
Total Resource 937 700 6.57 198 000
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All individual samples represent a one-meter length of RC drilling and
were sent for preparation and gold assaying at the ABILAB laboratories in
Bamako, Mali. Each sample was fire assayed for gold content on a 50-gram sub-
sample at the same laboratories. Complementing ABILAB's own QA/QC (Quality
Assurance / Quality Control) program, an internal quality control and quality
insurance program was in place throughout the sampling program, using blind
duplicates and recognized industry standards.
The exploration and drilling programs are designed and managed locally by
Dofinta Bonde, senior project geologist and reviewed and supervised under the
direction of Michel Cormier, geological engineer, Qualified Person and
Director of geology for Semafo. Mr. Cormier is responsible for the preparation
of this press release and has reviewed the data for its accuracy.
The common shares of Semafo 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, the 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 at 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 implied by the forward-looking statements include, but are not
limited to, factors associated with fluctuations in the market price of
precious metals, mining industry risks, uncertainty as to calculation of
mineral reserves, risks related to the grade of reserves, risks related to
hedging strategies, risks of delays in construction and requirements of
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 mine in Guinea,
the Samira Hill mine in Niger and is
developing the Mana project in Burkina Faso
More extensive information on Semafo can be found on our home page at |
