MONTREAL, Oct. 21 /CNW Telbec/ - SEMAFO (TSX: SMF) today announced the results of a recent airborne geophysical survey of most of the Mana's 1,695 km2 property in Burkina Faso, Africa. The survey results clearly identify the Wona structural corridor, current host to the Wona open-pit gold mine, and suggest that the Wona shear zone corridor may extend over a distance of more than 30 kilometres (ref. Figure 1 http://files.newswire.ca/357/Semafo_fig1.doc). In addition, important similar lineaments are observed elsewhere over the 80-kilometer long property, either on strike or parallel to the Wona mine (ref. Figure 2 http://files.newswire.ca/357/Semafo_fig2.doc).
The ultra high-resolution low elevation helicopter borne magnetic and radiometric geophysical survey was conducted from August 16 to September 19, 2009. A total of 11,520 kilometres of lines were flown, using 100-metre line spacing.
The Wona gold mine and its potential extensions clearly responded to the magnetic survey as a linear magnetic trend, as shown in Figure 1. Hole WDC-130 further to the northeast (referenced in SEMAFO's press release dated October 13, 2009) also responded as a kilometric parallel structure to the northwest of the main Wona structure. Follow-up drilling on this new discovery is scheduled within the current core drilling program, designed to better define the Wona deep zones and explore proximal lateral extensions. The magnetic signature suggests that the Wona shear zone corridor which hosts the Wona deposits may extend across more than 30 kilometres.
The airborne survey, in conjunction with available geological and geophysical information, will be the focus of continued interpretation and serve as the basis of the forthcoming exploration program scheduled to begin this week. An initial budget of $5 million has been established for the program for the next 12-month period and includes more than 18,000 Auger drilling holes and surface mapping on selected priority target areas. A reverse circulation (RC) drilling program is also planned in order to test the economic viability of existing and newly defined targets. In addition, some core drilling will be performed on selected target areas in order to characterize the identified alteration and mineralization, as well as to obtain geological observations undetectable by means of RC drilling.
SEMAFO is of the view that the Mana property has excellent potential. The recently completed airborne survey was the initial step in the Company's predetermined systematic regional exploration program. The property has proven that both high-grade and large-tonnage deposits occur with the Wona and Nyafé zones, hence the focus of the upcoming program will be to identify and delineate new similar mineralized zones.
SEMAFO is a Canadian-based mining company with gold production and exploration activities in West Africa. The Company currently operates three gold mines in Burkina Faso, Niger and Guinea. SEMAFO is committed to evolve in a conscientious manner to become a major player in its geographical area of interest, while maintaining principles and strengthening relationships to increase shareholder value.
CAUTION CONCERNING FORWARD-LOOKING STATEMENT
This press release may contain 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. Forward-looking statements include words such as "suggest", "may", "follow-up", "scheduled", "will be", "potential", "upcoming", "currently", "committed", "evolve", "become", maintaining", "strengthening", "increase" and other similar expressions. Factors that could cause future results or events to differ materially from current expectations expressed or implied by the forward-looking statements include our ability to continue or complete our 2009 exploration program at Mana, the ability of our current drilling program to better define the Wona deep zones and explore proximal lateral extensions, the accuracy of the magnetic signature that suggests that the Wona shear zone corridor which hosts the Wona deposits may extend across more than 30 kilometres, the ability of the reverse circulation (RC) drilling program to test the economic viability of existing and newly defined targets, the ability of some core drilling on selected areas to characterize the identified alteration and mineralization as well as to obtain geological observations undetectable by means of RC drilling, mining industry risks, uncertainty as to calculation of mineral reserves and resources, delays and other risks described in the Company's documents filed with Canadian securities regulatory authorities. Although the Company is of the opinion that these forward-looking statements are based on reasonable assumptions, such assumptions may prove to be incorrect. Accordingly, readers should not place undue reliance on forward-looking statements. Readers can find further information with respect to risks in the Company's 2008 Annual MD&A, as updated in the 2009 First Quarter MD&A and 2009 Second Quarter MD&A, and other filings with Canadian securities regulatory authorities available at www.sedar.com. The Company disclaims any obligation to update or revise these forward-looking statements, except as required by applicable law.
SOURCE SEMAFO INC.
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