SEMAFO Further Expands the Wona-Kona Deposit at Mana
Including Values of Up to 6.06 g/t Au Over 40 Meters and in a Parallel Zone, 4.09 g/t Au Over 17 MetersMONTREAL, QUEBEC -- (Marketwire) -- 05/30/12 -- SEMAFO (TSX: SMF)(OMX: SMF) today announced drill results from the Wona-Kona deposit at its Mana Mine in Burkina Faso, returning consistent wide zones of mineralization and extending the gold oreshoots. These impressive results support the Corporation's decision to revisit the mining scenarios and assess potential improvements to the Wona-Kona overall project economics. Recent drilling continues to add significant mineralization within both the Wona SW and Kona sectors, where shallowly plunging oreshoots have been traced down more than 400 vertical meters.
Since SEMAFO's press release dated October 18, 2011, 125 diamond drill holes (52,494 meters) were completed along the Wona-Kona deposit, for which the Corporation is in receipt of all assay results for the remaining 2011 diamond drilling work as well as for 2012 drill holes up to and including WDC494. The Corporation's current turnaround time for diamond drill results stands at less than one month, a significant improvement from 2011. Thus, SEMAFO's geology team is afforded more flexibility to allow for immediate reaction to incoming results in order to optimize processes and costs.
Wona-Kona Drill Result Highlights
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DDH No. Zone Section (N) From To Au(i) / Length(ii)
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WDC335 Wona 16650 277.0 292.0 2.97 g/t/ 15.0 m
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WDC340 Kona 18450 241.0 266.0 2.62 g/y/ 25.0 m
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WDC348 Wona 16675 496.3 509.9 5.51 g/t / 13.6 m
(5.99 g/t uncut)
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WDC355 Wona 16350 305.0 315.5 3.89 g/t/ 10.5 m
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WDC358 Wona 15400 191.2 214.0 2.09 g/t/ 22.8 m
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WDC363 Wona 15950 217.7 228.0 1.87 g/t/ 10.3 m
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WDC374 Wona 15975 398.0 410.0 2.03 g/t/ 12.0 m
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WDC388 Kona 17375 84.0 96.0 3.92 g/t/ 12.0 m
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WDC389 Kona 17425 92.0 103.0 2.13 g/t/ 11.0 m
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WDC392 Kona 17425 54.0 70.0 4.03 g/t/ 16.0 m
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WDC393 Kona 17475 48.0 72.0 2.16 g/t/ 24.0 m
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WDC395 Kona 17575 103.0 116.0 3.88 g/t/ 13.0 m
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WDC397 Kona 17525 80.0 104.0 4.81 g/t / 24.0 m
(4.95 g/t uncut)
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WDC403 Kona 17325 724.0 734.0 2.88 g/t/ 10.0 m
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WDC408 Wona 15650 408.0 448.0 6.06 g/t/ 40.0 m
(8.87 g/t uncut)
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WDC410 Wona 15250 259.0 296.0 3.56 g/t/ 37.0 m
(3.92 g/t uncut)
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WDC411 Wona 16525 785.0 797.0 1.35 g/t/ 12.0 m
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WDC413 Wona 15550 253.0 271.0 2.55 g/t/ 18.0 m
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WDC419 Wona 16175 378.0 388.3 3.33 g/t/ 10.3 m
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WDC440 Wona 15500 359.0 395.0 3.38 g/t/ 36.0 m
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WDC467 Kona 19100 393.7 406.6 1.77 g/t/ 12.9 m
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WDC484 Wona 15800 473.2 485.0 2.62 g/t/ 11.8 m
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WDC487 Wona 15700 480.6 499.0 3.53 g/t/ 18.4 m
(4.13 g/t uncut)
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WDC492 Wona 16275 589.1 606.5 3.27 g/t/ 17.4 m
(5.95 g/t uncut)
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(i) All individual samples are cut at 15 g/t as per Wona Deposit procedures.
(ii)All lengths are measured along the hole axis; additional information is
required to determine true widths.
Drill hole intersections noted in the above table are presented on the attached Wona-Kona longitudinal map (Figure 1), which displays the contoured grade-thickness product. A comprehensive table including all recent drill results can be found in Appendix 1.
Parallel Zone Drill Result Highlights (Proximal to Main Zones)
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DDH No. Zone Section (N) From To Au(i) / Length(ii)
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WDC329 Para Wona 15450 353.0 369.0 3.31 g/t/ 16.0 m
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WDC350 Para Kona 18275 158.0 177.0 3.70 g/t/ 19.0 m
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WDC362 Para Wona 15400 356.0 371.0 2.61 g/t/ 15.0 m
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WDC369 Para Wona 15950 418.2 430.0 2.81 g/t/ 11.8 m
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WDC409 Para Wona 15300 272.0 284.0 1.72 g/t/ 12.0 m
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WDC411 Para Wona 16525 803.0 820.0 4.09 g/t/ 17.0 m
(4.83 g/t uncut)
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WDC411 Para Wona 16525 825.5 861.0 3.14 g/t/ 35.5 m
(3.46 g/t uncut)
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WDC413 Para Wona 15550 332.0 353.0 3.81 g/t/ 21.0 m
(4.41 g/t uncut)
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WDC425 Para Wona 15150 253.0 268.0 3.27 g/t/ 15.0 m
(4.15 g/t uncut)
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WDC484 Para Wona 15800 495.6 523.5 2.75 g/t/ 27.9 m
(2.92 g/t uncut)
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WDC492 Para Wona 16275 612.7 623.4 2.56 g/t/ 10.7 m
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WDC492 Para Wona 16275 655.0 668.0 2.39 g/t/ 13.0 m
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WDC492 Para Wona 16275 677.6 701.0 4.02 g/t/ 23.4 m
(4.15 g/t uncut)
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(i) All individual samples are cut at 15 g/t as per Wona Deposit procedures.
(ii)All lengths are measured along the hole axis; additional information is
required to determine true widths.
Parallel zone intersections are not presented on the Wona-Kona longitudinal map (Figure 1) as they pertain to different mineralized lenses flanking the main zone.
Additional wide mineralization was encountered, such as in holes WDC408 and WDC484, which have increased the size of the oreshoot bottom swell located between 15200N and 16000N. In addition, holes WDC492 and WDC411 both have added new extensions to a parallel oreshoot located at 600 vertical meters on section 16500N. The depth extent of this parallel wide zone remains untested. Although not as wide, hole WDC422 on section 16850N (2.43 g/t Au over 9 meters) suggests a potential continuation of this mineralization to the north.
At Kona, new plunge extensions were encountered at depth as indicated by holes WDC340, and WDC467, along with other nearby intersections such as holes WDC336 (4.61 g/t Au over 7 meters), WDC474 (6.91 g/t Au over 7 meters), and WDC483 (5.39 g/t Au over 8.3 meters). In addition, hole WDC494 (5.04 g/t Au over 7 meters, section 18000N) significantly increases the potential below the south half of the Kona sector. This hole may also represent the down-plunge extension of the Main Wona oreshoot.
"Recent drilling shows significant continuity of the wider mineralization at depth and often returned gold bearing parallel zones," stated Michel Crevier, Vice-President Exploration and Mine Geology and SEMAFO's Qualified Person. "These results further substantiate our decision to revisit the Wona-Kona mining scenarios with the potential to improve the overall project economics."
Further diamond drilling at Mana will continue to explore for oreshoot extensions followed by closer-spaced drilling within the shoots. Priority area selection and hole spacing will be adapted to the different mining scenarios being considered.
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.
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 at the ALS Chemex laboratories in Ouagadougou, Burkina Faso or at SEMAFO's Mana Mine Laboratory, which uses separate sample preparation equipment exclusive to exploration samples. Each sample is fire-assayed for gold content on a 50-gram sub-sample. In addition to ALS Chemex's own QA/QC (Quality Assurance/Quality Control) program and Mana Laboratory'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 "potential", "improvements", "suggests", "increases", "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 to improve the Wona/Kona overall project economics, the ability of hole WDC422 on section 16850N to suggest a potential continuation of the mineralization to the north, the ability of hole WDC494 to increase the potential below the south half of the Kona sector or represent the down-plunge extension of the Main Wona oreshoot, 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, 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.
Appendix 1 and Figure 1 are available at the following link: http://media3.marketwire.com/docs/SEMAFO_Appendix1_Fig1.pdf.
Contacts:
SEMAFO
Sofia St Laurent
Communications
Tel. local & overseas: +1 (514) 744 4408
North America Toll-Free: 1 (888) 744 4408
sofia.stlaurent@semafo.com / www.semafo.com
Maria Bang
Brunswick Group Stockholm
+46 (8) 410 32 189
mbang@brunswickgroup.com
