Sama Identifies High Priority HTEM Ni and Cu Exploration Targets Over a 25 KM-long Corridor and Intersects 156 Metres at 0.30% Ni, 0.27% Cu and 0.75 GPT Pd at Samapleu Project in Cote d'Ivoire
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 04/10/13 -- Highlights:
-- 20 highly prospective new HTEM Survey target zones outlined over a 25
km-long corridor.
-- SM25-112555 intersected 156 metres grading 0.30% nickel, 0.27% copper,
0.75 gpt palladium and 0.14 gpt platinum, including an interval of 2.2
metres grading 1.25% nickel, 1.19% copper, 2.0 gpt palladium and 0.16
gpt platinum.
-- SM25-184483 (incomplete results) returned 68 metres grading 0.28%
nickel, 0.20% copper, 0.53 gpt palladium and 0.10 gpt platinum,
including an interval of 4.6 metres grading 1.05% nickel, 0.89% copper,
1.62 gpt palladium and 0.24 gpt platinum.
Sama Resources Inc. (TSX VENTURE: SME) ("Sama" or the "Company") is pleased to announce the detailed geophysical interpretation of the recently completed 3,300 line/kilometre airborne helicopter time domain electromagnetic and magnetic survey (the "HTEM Survey") over part of the Company's Samapleu Exploration License in Cote d'Ivoire, West Africa. The HTEM Survey returned more than 20 high quality targets for nickel-copper exploration.
Strong HTEM Survey conductors were identified at the Samapleu Main and Samapleu Extension 1 Deposits and along a corridor of more than 25 kilometres oriented northeast-southwest. Drilling of these regional targets will start shortly.
The Samapleu Project represents a cluster of differentiated intrusions with mineralization typical of magmatic nickel-copper analogous to well known world class deposits; Noril'sk, Kabanga, N'Komatie, etc. To date, exploration at the Samapleu Project has focused mainly on shallow targets (less than 150 metres deep) at the Samapleu Main and Samapleu Extension 1 Deposits, returning centrally located massive sulphide vein stockworks encased in a thick halo of disseminated sulphide. Nickel and copper tenors of up to 4-5% and 6-8%, respectively, were obtained in massive sulphide material. The HTEM Survey clearly demonstrates the discovery potential for high grade massive nickel-copper sulphide deposits. The reader is invited to view the figure showing the highly prospective HTEM target zones at
http://www.samaresources.com/i/projects/samapleu/Samapleu_HTEM.png.
The Company is also pleased to announce that hole SM25-112555 intercepted a mineralized zone of 156 metres grading 0.30% nickel, 0.27% copper, 0.75 grams per tonne ("gpt") palladium and 0.14 gpt platinum at the Samapleu Extension 1 Deposit. The interval begins 31 metres from surface and includes several semi-massive high grade sulphide lenses, including 2.2 metres grading 1.25% nickel, 1.19% copper, 2.0 gpt palladium and 0.16 gpt platinum.
Hole SM25-184483, assays for the bottom half of which are still awaited, intercepted a mineralized zone of 67 metres grading 0.28% nickel, 0.20% copper, 0.75 gpt palladium and 0.14 gpt platinum. The interval begins 42 metres from surface and includes several semi-massive high grade sulphide lenses, including 4.6 metres grading 1.05% nickel, 0.89% copper, 1.62 gpt palladium and 0.24 gpt platinum.
Both holes, together with 5 new holes (results are awaited), form part of the additional 230 metre-long strike at the northeast end of the known Samapleu Extension 1 nickel-copper Deposit. Both holes were drilled vertically; true widths are not known at this time.
Mineralization is still open at depth. Drilling is continuing at a pace of 800 to 1,000 metres per month. Assay results are expected on a regular basis going forward.
The table set out below shows the details for mineralized intercepts. Intercepts were defined using 0.1% nickel cut-off grades.
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FROM TO LENGTH Nickel Copper Cobalt Platinum Paladium
HOLE-ID m m m % % % gpt gpt
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SM25-112555 32.00 82.00 50.00 0.31 0.26 0.02 0.11 0.51
86.20 191.8 105.6 0.30 0.28 0.02 0.16 0.86
Including 2.20 1.25 1.19 0.02 0.16 2.00
SM25-184483 42.50 110.10 67.60 0.28 0.20 0.02 0.10 0.53
Including 4.55 1.05 0.89 0.02 0.24 1.62
110.00 129.00 19.00 Awaited
SM25-256482 114.00 148.00 34.00 Awaited Disseminated to highly disseminated
sulphide with stringers of semi-
massive sulphide.
SM25-183519 60.00 102.00 42.00 Awaited Disseminated to highly disseminated
sulphide with stringers of semi-
massive sulphide.
SM25-133605 93.00 136.00 43.00 Awaited Highly disseminated sulphide (3-
30%) with 4 metres of semi-massive
sulphide (35-50%) and numerous
additional stringers of semi-
massive sulphide.
SM25-096647 66.33 157.75 91.42 Awaited Highly disseminated sulphide (3-
40%) and numerous additional
stringers of semi-massive sulphide
SM25-063682 73.05 148.10 75.05 Awaited Highly disseminated sulphide (3-
60%) and numerous additional
stringers of semi-massive sulphide
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Core logging and sampling were performed at Sama's facility in Yorodougou village. Sample preparations were performed at Societe de Developpement de Gouessesso's sample preparation facility in Gouessesso village under Sama's supervision. Sample pulps were delivered to Bureau Veritas Mineral Laboratory's facility in Abidjan, Cote d'Ivoire ("BVML), and then dispatched by BVML directly to their assay laboratory, Ultra Trace Pty, in Perth, Australia. All samples were assayed for nickel, copper, cobalt, iron, sulphur, platinum, palladium, rhodium and gold using sodium peroxide fusion and have been determined by inductively coupled plasma optical emission spectrometry.
The exploration and drill program at Sama's Samapleu Deposits was designed by Dr. Marc-Antoine Audet, P.Geo and President and CEO of Sama. Sama is led by a management team well experienced in base metal exploration and development with a long history of working in Africa.
The technical information in this release has been reviewed and approved by Dr. Marc-Antoine Audet, P.Geo and President and CEO of Sama, and a 'qualified person', as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects.
Forward-Looking Statements
Certain of the statements made and information contained herein are "forward-looking statements" within the meaning of Canadian securities legislation or "forward-looking information" within the meaning of the Ontario Securities Act and the Securities Act (British Columbia). This includes statements concerning Sama's plans at its mineral properties, which involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Sama, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or forward-looking information. Information regarding drilling results may also be deemed to be forward-looking statements or forward-looking information in that they reflect a prediction of what may be found to be present when and if a project is actually developed.
Forward-looking statements and forward-looking information are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements or forward-looking information, including, without limitation, the availability of financing for activities, risks and uncertainties relating to the interpretation of drill results and the estimation of mineral resources and reserves, the geology, grade and continuity of mineral deposits, the possibility that future exploration, development or mining results will not be consistent with Sama's expectations, metal price fluctuations, environmental and regulatory requirements, availability of permits, escalating costs of remediation and mitigation, risk of title loss, the effects of accidents, equipment breakdowns, labour disputes or other unanticipated difficulties with or interruptions in exploration or development, the potential for delays in exploration or development activities, the inherent uncertainty of cost estimates and the potential for unexpected costs and expenses, commodity price fluctuations, currency fluctuations, expectations and beliefs of management and other risks and uncertainties including those described in the audited annual consolidated financial statements and accompanying management discussion and analysis.
In addition, forward-looking statements and forward-looking information is based on various assumptions. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking information or forward-looking statements. Accordingly, readers are advised not to place undue reliance on forward-looking statements or forward-looking information. Except as required under applicable securities legislation, Sama undertakes no obligation to publicly update or revise forward-looking statements or forward-looking information, whether as a result of new information, future events or otherwise.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Sama Resources Inc.
Dr. Marc-Antoine Audet
President and CEO
(514) 726-4158
Sama Resources Inc.
Mr. Matt Johnston
(604) 443-3835 or Toll Free: 1 (877) 792-6688, Ext. 4
(604) 682-3860 (FAX)
www.samaresources.com