MONTREAL, QUEBEC--(Marketwire - March 27, 2012) - SEMAFO Inc. (TSX:SMF) (OMX:SMF) today provided an updated compilation of the ongoing auger drilling program at its Mana property in Burkina Faso. The compilation identified six important gold anomalous trends on the property, some of which are scheduled for drilling in 2012.
These new trends were identified using an aggressive auger drilling program initiated in February 2010 over select geologically favourable areas, based on a property-wide geophysical survey. Since then, a total of 30,459 holes were completed, covering approximately 25% of the surface area of the property. The program is ongoing with many high potential areas to be investigated in 2012 and thereafter.
As shown on Figure 1 six major trends have been identified to date. The South Trends Complex is characterized by series of gold trends throughout a large area. Of these, the Fofina, Yaho, Maoula and Fobiri zones all demonstrate clear auger anomalies associated with the mineralization. In fact reverse-circulation ("RC"), air core ("AC") and core drilling were carried out on the three zones discovered in 2010 and early 2011 (Fofina, Fobiri, and Yaho) in follow-up to an auger drilling program.
The Bombouela Trend is located north of the Wona Deposit and extends from the Kona Zone in the south to the northern limit of the Bombouela North permit. The Bombouela Trend measures more than 25 kilometers in length and typically contains areas with higher grade values along its strike. The trend appears to split into two separate trends, of which the west branch is interpreted to continue onto the newly acquired Kona II permit based on previous reports on this property (data not yet included in the compilation).
Two similar parallel trends are also observed to the east of the Bombouela Trend, namely the Kienséré and Oula Trends, where geological mapping is currently underway.
The Massala Trend is located on strike and to the north of known artisanal mining sites where significant gold values were obtained from surface grab samples (up to 13.8 g/t Au). This trend measures approximately 15 kilometers long and closely follows the geophysical anomalies observed in the area. It is also noted that the higher auger sample grades obtained within this trend were recovered in the ten northern kilometers where work has yet to be conducted.
A sixth trend is also developing on the southeastern area of the property. The Kokoi Trend remains open and further auger drilling to the north is scheduled to better define its extensions.
The high background level of gold generally obtained within the area is coincident with the higher grade mineralization typically observed in the South Trends Complex. Additionally, the complexity of the anomalous trends is interpreted to be the result of the style of mineralization present, such as anastomosing and converging shear zones.
"The anomalies identified by the ongoing auger drilling program continue to demonstrate the exceptional potential of the Mana property," said Michel Crevier, Vice-President, Exploration and Mining Geology and SEMAFO's Qualified Person. "In two years, we have identified and delineated three deposits stemming from auger anomalies and we are confident that pending results and future drilling will expand this list."
In addition to the two core rigs drilling at Wona and Kona, four RC, one AC, and two auger rigs are currently on site, with another RC rig expected to arrive in the second quarter 2012.
Auger drilling is a cost-effective geochemical sampling method that consists of drilling vertical holes down to the in-situ saprolite horizon along a predetermined grid. A sample is taken from both the laterite/saprolite interface and within the saprolite. The sample is then sent for gold assaying using the bottle-roll method, which can detect very small gold contents from larger size samples. Considering that the geochemical anomaly associated with the Wona Deposit was below 75 ppb gold, low level gold detection limits are paramount to ensure the formulation of a reliable dataset.
Sample preparation and gold assaying were carried out by BLEG method at ALS Minerals Division in Ouagadougou, Burkina Faso.
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 "ongoing", "scheduled", "will", "underway", "developing", "confident", "expand", "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 further auger drilling to the north to further define the Kokoi Trend's extensions, the ability of pending results and future drilling to expand the list of deposits, 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 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.
Figure 1 is available at the following link: http://media3.marketwire.com/docs/SEMAFO_Fig1.pdf.