Feb 13 2014
Sarissa Resources Inc. ("Sarissa" or the "Company") is pleased to release this update to shareholders relating to ongoing activities.
Following on from the Company's previously announced plans to advance exploration of the Nemegosenda Niobium Project, the Company's first drill hole of the program has been completed. DDH 14-82 was drilled within the D Zone to test the previously drilled hole #56-49, and was ended at a length of 306 meters. DDH 56-49 ended at a length of 262 meters, but the current hole was continued deeper to test for further mineralization. No major challenges were encountered and the core has been logged and split and has been sent for assaying.
The Company also announces the completion of a non-brokered private placement of Class A common shares of The Company which raised gross proceeds of $81,600 in this financing, through the sale of a total of 5,100,000 flow-through common shares at $0.016 per share. All securities issued in connection with this financing will be subject to a minimum four-month hold period. In accordance with tax requirements, the proceeds from the private placement of these flow-through shares will be used primarily to fund mineral exploration activities on the Company's properties.
Warren Hawkins, P.Eng. is a "qualified person" within the meaning of NI 43-101 and has read and is responsible for the technical information contained in this news release.
Source: http://www.sarissaresources.com/