Oakville, Ontario, Sept. 19, 2014 /PRNewswire/ -- Sarissa Resources Inc. ("Sarissa" [SRSR:OTCPK], or the "Company") is pleased to announce that through the Ministry of Northern Development and Mines the Company will be able to gain access to drill core from three of the original holes completed by the Dominion Gulf Company during their extensive drilling on the Company's Nemegosenda niobium project in Ontario.
This development will allow the Company the opportunity to re-log the core and provide direct comparison with Dominion Gulf's original logs. Two of the holes were assayed by Dominion Gulf, and these will be re-assayed for further comparison. The core from a third hole was not originally assayed by Dominion Gulf. The company can still do the geological comparison and our own assaying to gain further information on the property.
"The Ministry of Northern Developments and Mines opening up access to these historical drill cores combined with the twinning program which the Company began earlier this year, which will be continuing as soon as the drill and team can be mobilized, is expected to give our geologists a higher level of confidence in the Dominion Gulf Data, allowing us to move the Company's historical resource estimate to a higher resource classification. These historical cores will also allow for a direct comparison to the Dominion Gulf analytical methods which should allow for a higher degree of confidence in assessing the Dominion Gulf historical data," said Scott Keevil, Chief Executive Officer of Sarissa.
"This is an exciting development which will allow the Company to accelerate the time table on our recently announced geological plans which are expected to raise The Company's existing resource classification which is expected to lead to a completed Preliminary Economic Assessment (PEA) also known as a Pre-Feasibility Report," added Dan Byrnes, President of Sarissa.