SEMAFO Discovers New Mineralized Horizon at Samira Hill in Niger
Including Values Up to 1.48 g/t Au Over 43 Meters, 1.41 g/t Au Over 32 Meters and 1.89 g/t Au Over 22 MetersMONTREAL, QUEBEC -- (Marketwire) -- 06/19/12 -- SEMAFO (TSX: SMF)(OMX: SMF) today announced the discovery of a new mineralized trend at Samira Hill in Niger, West Africa. The Tonde Boubangou Horizon ("TBH") is located 20 kilometers north of the Samira Hill processing plant and has been traced over a distance of 10 kilometers along strike. Results to date have returned values of up to 1.48 g/t Au across 43 meters. Recent core drilling and geological observations suggest that the TBH could have a geological environment similar to the main Samira Horizon ("SH"), which hosts all of the known gold deposits mined to date on the property.
Exploration on the TBH was initiated in June 2011 following a compilation of historical early stage exploration work in this area that revealed the presence of a 10-kilometer-long geophysical trend associated with sporadic auger drilling geochemical anomalies. Historical work also included a few trenches and minimal reverse-circulation ("RC") drilling, which had returned values of up to 1.3 g/t Au over 7 meters. Since June 2011, a total of 10,350 meters of air core, 15,667 meters of RC, and 1,518 meters of core drilling were completed. Results remain pending for 57% of the RC and all of the core drilling.
Tonde Boubangou Horizon Drill Result Highlights
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DDH No. From (m) To (m) Au / Length(i)
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11AC269 41 50 2.15 g/t/ 9 m
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11AC302 33 42 1.21 g/t/ 9 m
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11AC322 20 29 1.47 g/t/ 9 m
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11AC323 13 17 1.09 g/t/ 4 m
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11AC444 7 50 1.48 g/t/ 43 m
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11AC448 37 41 1.01 g/t/ 4 m
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11RC539 135 143 1.36 g/t/ 8 m
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11RC541 47 56 1.29 g/t/ 9 m
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11RC551 53 58 1.27 g/t/ 5 m
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11RC551 61 69 1.03 g/t/ 8 m
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11RC555 32 54 1.89 g/t/ 22 m
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11RC558 92 98 1.02 g/t/ 6 m
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11RC559 93 100 1.04 g/t/ 7 m
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11RC560 33 65 1.41 g/t/ 32 m
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11RC561 26 30 1.45 g/t/ 4 m
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11RC562 69 72 2.74 g/t/ 3 m
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11RC564 68 74 1.23 g/t/ 6 m
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11RC567 104 113 1.17 g/t/ 9 m
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11RC571 134 138 1.14 g/t/ 4 m
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11RC573 35 42 1.07 g/t/ 7 m
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11RC573 54 63 1.33 g/t/ 9 m
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11RC576 100 105 1.06 g/t/ 5 m
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11RC578 4 15 1.07 g/t/ 11 m
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12RC001 50 55 1.55 g/t/ 5 m
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12RC002 79 84 1.26 g/t/ 5 m
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12RC040 10 21 1.42 g/t/ 11 m
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(i)All lengths are measured along the hole axis; additional information is
required to determine true widths.
The TBH mineralization is similar to that observed in some of the mined SH deposits. To date, the TBH gold mineralization was observed within silicified graphitic sediments (e.g. Boulon Jounga and Samira Main), associated with quartz veining (e.g. Libdorado NW) and into quartzo-feldspathic dykes (e.g. Boundary). The horizon is intensely altered in sericite, fuchsite, and silica and mineralization consisting of disseminated pyrite and arsenopyrite, occurring at the interface between basalts and sedimentary formations (conglomerates, wackes, shales, and graphitic sediments).
As shown in Figure 1, mineralization was encountered along the entire length of the sedimentary unit, which remains open in all directions. Widths of the mineralization are consistently important. As observed within the SH, structural traps may have a major impact where swelling and increased grades may occur. Detailed geological mapping, RC follow-up and core drilling are expected to enhance our understanding of the controls and, at the same time, establish the continuity and geometry of the identified mineralized zones within the 10-kilometer-long horizon.
"The discovery and follow-up work at TBH is an example of our team's determination to identify new gold mineralization within a relatively mature project," stated Michel Crevier, Vice-President Exploration and Mine Geology and SEMAFO's Qualified Person. "Applying acquired geological knowledge from the different ore zones mined to date to the regional model provides SEMAFO with a different view of the property's potential."
SEMAFO's current program for TBH includes follow-up RC drilling as well as core drilling along the more important zones of mineralization observed to date. Additional work will be performed based on the results of the on-going program.
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 rock chips homogenized and riffle-split to an approximately two-kilogram sub-sample, which is sent for preparation and gold assaying at the ALS Minerals Lab or SGS laboratories in Ouagadougou, Burkina Faso. Each sample is fire-assayed for gold content on a 50-gram sub-sample at the same ALS Minerals Lab. In addition to ALS Minerals Lab's own quality assurance/quality control ("QA/QC") program, an internal QA/QC 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 "suggest", "could", "may", "expected", "potential", "will", "on-going", "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 TBH to have a comparable geological environment to the main SH, the ability of detailed geological mapping, RC follow-up and core drilling to enhance our understanding of the controls and establish the continuity and geometry of the identified mineralized zones within the 10-kilometer-long horizon, 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.
To view figure 1, please visit the following link: http://media3.marketwire.com/docs/semafomap0619.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
