MONTREAL, June 20 /CNW Telbec/ - SEMAFO (TSX - SMF) is pleased to provide
an update of its 2007 Gold Exploration Programs with regard to its projects;
Kiniero in Guinea and Samira Hill in Niger. For 2007, a budget totalling
US 3.1M has been committed to the Kiniero project and US$3.3M to Samira Hill.
Both programs aim at enhancing the gold reserves and resources base.
- Kiniero Exploration Program: Mineralization extends into West Balan
Exploration work carried out in January and February 2007 (WADS drilling
and trenching) in the West Balan area has unveiled two new mineralized zones
in an area situated 1km southwest of the core zone hosting 610,000 tonnes
averaging 3.95g/t Au of reserves, and 414,469 tonnes at 2.33 g/t resources
(100,573 tonnes at 2.42g/t measured and 313,896 tonnes at 2.04g/t indicated).
The first discovery is located in the vicinity of the anticipated pit design
area and has been identified over 275m by drilling containing mineralized
intersections such as RC1825 with 4.66g/t over 21m, RC1781 with 1.97g/t over
9m, RC1830 with 2.19g/t over 7m, and RC1836 with 1.30g/t over 5m. The
discovered structure is sub-parallel to the core zone, but with offset to the
west. The second discovery is located 700m southwest of the first one. It was
identified by two trenches 50m apart that have respectively returned 1.38g/t
over 15m at BMANTP2 and 1.47g/t over 4m as well as 5.96g/t Au over 2m at
BMANTP1. Both trenches display structures that are sub-parallel to the
mineralized core zone. The overall geometric configuration of the three zones
is that of an "en-échelon" or stepwise structure which is thought to be
associated with a right-hand faulting. This new interpretation also opens
potential for a structure to the northeast, in which previous drilling had
been designed to verify continuous zones, but missed the new "échelon"
concept. The gold-bearing potential of this corridor is currently being
investigated through an intensive exploration and delineation drilling
programs (see attached sketch). (http://files.newswire.ca/357/BALAN.pdf)
- Samira Hill Exploration Program: The Samira horizon goes on.
The first part of an IP survey (dipole-dipole, a=50, n=1 to 6)
was completed by early April. This work was carried out by Sagax Mahgreb.
Preliminary results are encouraging. The gold-bearing, highly conductive
horizon (graphitic sediments) runs through the Samira and Libiri deposits and
extends 9km in an eastward direction in the southern grid area where an offset
or a folding is recorded. According to data from the airborne magnetic survey,
it now seems that the said horizon could be located further to the south (and
not to the north as previously thought), outside the area covered by IP work.
It is now believed that the ore deposits develop primarily in the flex-zones,
where maximum thicknesses of the bearing horizons are recorded. Good
correlations have also been observed with resistivity and chargeability
anomalies, as well as with soil geochemistry. Non-responsiveness of soil
geochemistry to the East of Libiri could be solely attributable to the masking
effects of the nearby river, whose bed is seemingly covered with an important
influx of transported sediments.
Niger-Libiri South East Area (http://files.newswire.ca/357/LIBIRI.pdf)
Overall three zones are selected for follow-up:
1. 313,250E to 316,250E, and 1,481,500N to 1,479,250N in UTM WGS84
2. 317,500 E to 318,750 E and 1,481,500 N to 1,480,000 N
3. 311,750 E to 313,000 E and 1,483,500 N to 1,482,250 N
Zones 1 and 3 are shown on the attached sketch with black-inked contours.
It is worth noting that the anomaly detected in hole RAB06LERB129 shows
3.51g/t Au over 20m, including 5.78g/t Au over 9m, coincides very well with
the fold apex shown in Zone 3. As far as Zone 1, it is already subjected to
trenching, which have returned grades such as 3.1g/t Au over 4m (LT 68),
2.2g/t Au over 6m (05LTR01), 2.36g/t Au over 5m (05LTR02), and 1.82g/t over 9m
(05LTR03). Zone 2, located more to the East, requires more basic exploration.
Current data demonstrate the presence of volcanics to the north of the
meta-sediments/pyroclastics as previously stated; however to the south, no
volcanics have been recorded (contrary to earlier assumption), thereby
triggering new interest in investigating the possible extension and thickness
of the gold-bearing horizon in the Saoura sector (East-Southeast)
All exploration programs have been designed and managed on site by the
exploration teams and reviewed and supervised under the supervision of Michel
Crevier, P. Geo MScA, Geology Manager and Semafo's Qualified Person, who has
duly reviewed this publication with regard to its accuracy as well as and its
conformity with the Canadian Instrument Standard No. 43-101.
In both Kiniero and Samira Hill, all individual drilling samples
represent one-meter of drilling which were split in half for core and RC drill
cuttings riffled spit to end to 1kg samples. One half core or a 1kg RC samples
is kept on site as a control and an equivalent sized sample was sent for
preparation and gold assaying to the Abilab laboratories Bamako, Mali for
Kiniero, and to Ouagadougou, Burkina Faso for Samira Hill. Trench samples are
also taken at 1m intervals to form 1kg samples. Each sample was fire-assayed
for gold content on a 50g pulp sub-sample at the same Abilab laboratories.
Complementing Abilab's own QA/QC (Quality Assurance/Quality Control) program,
an internal QA/QC program was in place throughout the sampling program using
among others, blind, duplicates and standard samples, according to recognized
standard practices in the Industry.
The common shares of Semafo Inc. are traded on the Toronto Stock Exchange
under the symbol "SMF"
This press release contains "forward-looking statements", including but
not limited to, 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 of 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 to fluctuations in the market price of precious
metals, mining industry risks, uncertainty as to the calculation of mineral
reserves, risks related to the grade of reserves, risks related to hedging
strategies, risks of delays in construction and requirements for additional
Semafo is a mining company whose mission is to explore, develop and
mine major gold deposits in West Africa. Semafo currently operates
the Kiniero gold mine in Guinea, the Samira Hill gold mine in Niger
and is developing the Mana gold project in Burkina Faso.
For further information:
For further information: SEMAFO: Benoit La Salle, Président & CEO, (514)
744-4408, email@example.com; RENMARK: Tina Cameron:
firstname.lastname@example.org; Christopher Wells: email@example.com,
(514) 939-3989, Fax: (514) 939-3717; www.renmarkfinancial.com; More detailed
information on Semafo Inc. can be found on its home page at