SEMAFO Confirms Continuity of the High Grade Siou Zone: Including Values of Up to 19.22 g/t Au (23.05 g/t Au Uncut) Over 4 Me...
November 20 2012 - 9:30AM
Marketwired
SEMAFO (TSX:SMF)(OMX:SMF) today announced follow-up drilling
results from its high-grade Siou zone located approximately 15
kilometers east of the Mana mill. The central 700 meters of the
zone demonstrate ongoing good continuity of the high-grade quartz
vein zone with local swelling ranging up to 10 meters wide (e.g.
hole MRC12-2161: 5.58 g/t Au across 10 meters). In addition, other
associated structures not presented in the table below have
returned grades higher than previously obtained similar to the main
Siou zone. For example, hole MRC12-2376 returned 10.85 g/t Au
across 3 meters (11.88 g/t Au uncut) at a depth of 137 meters.
Following the discovery of the Siou zone in August 2012, a
follow-up reverse-circulation ("RC") drilling program was completed
in October 2012 to reduce spacing from 200 meters to 100 meters
within the core 800 meters of strike length (sections 1321400N to
1322200N). In addition, a 200 meter-long section of the zone
(section 1321800N to 1322000N) was drilled at 50-meter spacing to
refine the interpretation and establish the continuity of the high
grade vein zone. A total of 43 RC holes (5,612 meters) covering six
new fences were drilled. The following table presents the new
drilling highlights, while a complete table of all Siou zone
intercepts to date (including results reported on August 29, 2012)
is presented in Appendix 1.
Siou Zone Follow-up Drilling Highlights
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DDH No. Section (N) From (m) To (m) Au(i) / Length(ii)
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MRC12-2394 1322200 134 137 7.64 g/t / 3 m
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MRC12-2172 1321950 133 135 3.79 g/t / 2 m
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MRC12-2163 1321850 24 30 2.25 g/t / 6 m
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MRC12-2164 1321850 14 21 3.87 g/t / 7 m
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MRC12-2370 1321850 107 111 9.48 g/t / 4 m
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(12.51 g/t uncut)
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MRC12-2371 1321850 65 70 8.54 g/t / 5 m
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(9.94 g/t uncut)
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MRC12-2161 1321800 21 31 5.58 g/t / 10 m
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MRC12-2173 1321800 63 66 12.15 g/t / 3 m
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(13.98 g/t uncut)
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MRC12-2174 1321800 102 106 19.22 g/t / 4 m
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(23.05 g/t uncut)
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MRC12-2175 1321800 144 147 10.66 g/t / 3 m
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(15.00 g/t uncut)
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MRC12-2376 1321600 97 103 8.41 g/t / 6 m
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(8.53 g/t uncut)
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MRC12-2377 1321600 53 55 4.70 g/t / 2 m
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MRC12-2378 1321600 24 28 6.55 g/t / 4 m
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(i) All individual samples are cut at 30 g/t Au as per Nyafe Deposit
procedures.
(ii)All lengths are measured along the hole axis, which is interpreted to be
roughly equivalent to true widths.
As shown in the above table, on Figure 1 and in Appendix 1, a
continuously high-grade core can be traced between sections
1321500N and 1322200N, while more sporadic high grades were
obtained on the lateral extents. The high-grade core appears to
plunge shallowly towards the north and remains open below the
drilled depth of 130 meters vertically. Furthermore, related
structures flanking the main Siou vein have returned values higher
than previously obtained such as hole MRC12-2376, which returned
10.85 g/t Au across 3 meters (11.88 g/t Au uncut). The potential of
the subsidiary zones and their geological relationship with the
main zone have yet to be established.
During the month of October four preliminary metallurgical test
samples from the Siou main zone were sent to SGS SA South Africa
laboratories, the results of which are expected in the first
quarter 2013. Meanwhile, drilling along the Siou-Kokoi trend is
ongoing in order to identify new zones of mineralization. Results
of this program are expected by the end of 2012.
SEMAFO is currently compiling the Siou data in order to include
the new discovery in the 2012 year-end resource estimate. In
addition, a delineation drilling program is currently underway and
is expected to be completed in the first half of 2013.
Michel Crevier, P.Geo, MScA, Vice-President Exploration and Mine
Geology is SEMAFO's Qualified Person and has reviewed this press
release for accuracy and compliance with National Instrument
43-101.
All individual samples represent approximately one-meter in
length of core, which was sawn in half. Half of the core is kept on
site for reference and its counterpart is sent for preparation and
gold assaying to the ALS Mineral Division laboratories in
Ouagadougou, Burkina Faso or to SEMAFO's Mana Mine Lab which uses
separate sample preparation equipment exclusive to exploration
samples. For RC and air core drilling, all individual samples
represent approximately one-meter in length of rock chips
homogenized and riffle-split to an approximate two-kilogram
subsample, which is sent for preparation and gold assaying to the
ALS Mineral Division laboratories in Ouagadougou, Burkina Faso or
to SEMAFO's Mana Mine Lab. Each sample (core and RC) is
fire-assayed for gold content on a 50-gram subsample. In addition
to ALS Mineral Division's own QA/QC (Quality Assurance/Quality
Control) program and Mana Lab's own QA/QC 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 is a Canadian-based mining company with gold production
and exploration activities in West Africa. The Corporation
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.
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 "expected", "will",
"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 of the ongoing drilling along the
Siou-Kokoi trend to identify new zones of mineralization, the
ability of the foregoing drilling program to produce results by the
end of 2012, the ability of the Siou zone delineation drilling
program that is currently underway to be completed in the first
half of 2013, 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 2011
Annual MD&A and 2011 Annual Information Form, as updated in
SEMAFO's 2012 First Quarter MD&A, 2012, Second Quarter MD&A
and 2012, 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.
Figure 1 and Appendix 1 are available at this address:
http://media3.marketwire.com/docs/SMF_Fig1_app.pdf.
Contacts: SEMAFO Robert LaValliere Vice-President, Investor
Relations Cell: +1 (514) 240 2780robert.lavalliere@semafo.com Sofia
St Laurent Communications & Investor Relations Tel. local &
overseas: +1 (514) 744 4408 North America Toll-Free: 1 (888) 744
4408sofia.stlaurent@semafo.com www.semafo.com Maria Bang Brunswick
Group Stockholm Tel: +46 (8) 410 32 189mbang@brunswickgroup.com