Press release from Marketwire
SEMAFO's 2013 Soil Sampling Program Identifies New Priority Drill Targets Within the Kokoi Shear Zone
New Pompoi North Permit Granted at Mana
Monday, December 09, 2013
SEMAFO's 2013 Soil Sampling Program Identifies New Priority Drill Targets Within the Kokoi Shear Zone08:38 EST Monday, December 09, 2013
MONTREAL, QUEBEC--(Marketwired - Dec. 9, 2013) - SEMAFO (TSX:SMF)(OMX:SMF) today provided an update on its ongoing soil sampling program at Mana, Burkina Faso, which has identified a strong and continuous north-trending corridor within the Kokoi shear zone measuring more than 14 kilometers long and up to four kilometers wide. The anomaly is located approximately eight kilometers north of the Siou Deposit. Numerous individual samples from the anomalous area returned significant values, with some of the highest returning more than 10,000 ppb Au.
A 7,100-soil-sample program was carried out over areas where auger drilling is difficult due to rugged terrain and outcropping bedrock. Samples were taken primarily from the Mana West, the Kokoi Southwest Block and the Bouna East Block area, along line spacing of 400 meters with sample points at every 25 meters (Figure 1).
The program for the Bouna East Block (Figure 2) was designed to extend the existing survey towards the south, along the Kokoi shear zone, in order to trace an existing geochemical anomaly further south near the contact between the Siou granodiorite intrusive and its host volcanic rocks. The 2013 soil-sample survey of the Bouna East Block virtually doubled the strike length of the anomalous trend, which now measures approximately 14 kilometers long. In addition, the width of the corridor significantly increases towards the south, coincident with the targeted geological contact. The bulk of the higher grade soil sample results are located at the contact between the Siou massive granodiorite intrusive and volcano-sedimentary rocks. Considering the general north-south schistosity, the prospective north part of the intrusive, called the North Apex, is believed to be located within a pressure shadow area, hence potentially generating favourable multidirectional tension structures and shear zones permeable to hydrothermal fluids.
New Pompoi North Permit
The Corporation also reported that the Government of Burkina Faso has granted exploration rights to the new Pompoi North permit located east of the Mana East permit (ref. Figure 1), host to the Siou Deposit. The Pompoi North permit covers an area of 61 square kilometers, including the east contact of the Siou intrusive, and should be prospective for gold mineralization given its similar geology and structural similarities with the Siou deposit environment. Soil sampling and auger drilling will commence early December on Pompoi North.
Michel Crevier, P.Geo MScA, Vice-President Exploration and Mine Geology and SEMAFO's Qualified Person, has reviewed this press release for accuracy and compliance with National Instrument 43-101.
SEMAFO is a Canadian-based mining company with gold production and exploration activities in West Africa. The Corporation currently operates two gold mines: the Mana Mine in Burkina Faso and the Kiniero Mine in Guinea. SEMAFO is committed to evolve in a conscientious manner through the responsible development of its high potential Mana property. SEMAFO's strategic focus is to maximize shareholder value by effectively managing its existing assets as well as pursuing organic and strategic growth opportunities.
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 "should" "committed", "evolve", "become", "pursuing", "growth", "opportunities" 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 to execute on our strategic focus, the ability of the Pompoi North permit to be prospective for gold mineralisation, fluctuation in the price of currencies, gold or operating costs, mining industry risks, uncertainty as to estimation 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 2012 Annual MD&A, as updated in SEMAFO's 2013 First Quarter MD&A,2013 Second Quarter and 2013 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.
The above information has been made public in accordance with the Swedish Securities Market Act and/or the Financial Instruments Trading Act.
Figures 1 and 2 are available at the following link: http://media3.marketwire.com/docs/SEMAFO_1209_Fig1_2.pdf
FOR FURTHER INFORMATION PLEASE CONTACT:
Vice-President, Investor Relations
Cell: +1 (514) 240 2780
Communications & Investor Relations
Tel. local & overseas: +1 (514) 744 4408
North America Toll-Free: 1 (888) 744 4408