Sama Resources Discovers 2 New Mineralized Sectors, Confirms Surface Mineralization Strike Length and Announces New Drilling Results
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 12/06/12 -- Sama Resources Inc. (TSX VENTURE: SME) -
Highlights:
-- Drilling at the Samapleu Extension 1 Deposit and the newly discovered
SM34 Sector confirms surface mineralization strike length of 1,250 m;
-- SM25-080542 returned 38.5 m at 0.46% nickel and 0.50% copper, including
0.85 gpt palladium and 0.12 gpt platinum;
-- SM44-684210 returned 50.6 m at 0.34% nickel and 0.39% copper, including
0.51 gpt palladium and 0.09 gpt platinum; and
-- SM34-098547 returned 61.25 m at 0.28% nickel and 0.21% copper, including
0.28 gpt palladium and 0.07 gpt platinum starting from 13.85 m below
surface.
Sama Resources Inc. ("Sama" or the "Company") is pleased to announce that it has discovered 2 new sectors of near-surface nickel mineralization at the Company's "Samapleu Project" in Cote d'Ivoire, West Africa. The newly discovered "SM34 Sector" is located 800 metres ("m") along strike of the known "Samapleu Extension 1 Deposit". The newly discovered "Yorodougou Complex" sector is located 4,400 m northeast of the "Samapleu Main Deposit".
Samapleu Extension 1 Deposit and the Newly Discovered SM34 Sector
The surface expression of the ultramafic-mafic geological host of the Samapleu Extension 1 Deposit and the newly discovered SM34 Sector is approximately 2,000 m long by 50 m to 200 m wide and is still open in both directions. The ultramafic-mafic host is oriented northeast-southwest.
Seven boreholes were drilled vertically at the Samapleu Extension 1 Deposit. Borehole SM25-080542 returned 38.5 m at 0.46% nickel and 0.50% copper, including 0.85 grams per tonne ("gpt") palladium and 0.12 gpt platinum. Borehole SM25-039587 returned 129.2 m at 0.26% nickel and 0.17% copper, including 0.41 gpt palladium and 0.06 gpt platinum.
Five boreholes were drilled vertically at the SM34 Sector; confirming mineralization and the geological potential. Borehole SM34-098547 returned 61.25 m at 0.28% nickel and 0.21% copper starting from 13.85 m below surface. Mineralization at the SM34 Sector appears to be open laterally in both directions and at depth.
Yorodougou Complex (SM19 Sector)
The newly discovered "SM19 Sector", also known as the Yorodougou Complex, is 1,500 m long. Borehole SM19-420430, initially drilled in 2010, returned 58 m at 0.22% nickel and 0.20% copper.
The reader is invited to view the figure showing the locations of the newly discovered SM34 and SM19 Sectors at http://www.samaresources.com/i/misc/SM34&SM19sectors.png.
Samapleu Main Deposit
The surface expression of the Samapleu Main Deposit's ultramafic-mafic host is approximately 400 m long by 350 m wide.
One additional borehole was drilled at the Samapleu Main Deposit at a depth of 345 m. Borehole SM44-684210 returned 50.6 m at 0.34% nickel and 0.39% copper, including 0.51 gpt palladium and 0.09 gpt platinum. This mineralized intersection clearly indicates that the ore body extends laterally and at depth.
Assays results for all 13 boreholes are summarized in Table 1 below.
Table 1: Mineral intercepts for the 13 holes drilled at the Samapleu Project. Intercepts were defined using 0.1% nickel cut-off grades.
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Plati- Palla-
num dium
FROM TO LENGTH Nickel Copper Cobalt Grams/ Grams/
HOLE-ID SEQUENCE m m m % % % tonne tonne
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Samapleu Extension 1 Deposit
SM25-039587 199 32.60 161.6 129.2 0.26 0.17 0.01 0.06 0.41
SM25-080542 200 25.00 63.50 38.50 0.46 0.50 0.02 0.12 0.85
and 66.50 136.00 69.50 0.25 0.28 0.01 0.07 0.51
SM24-603758 201 18.30 42.50 24.20 0.13 0.11 0.01 0.08 0.17
and 55.00 139.75 84.25 0.21 0.11 0.02 0.05 0.27
SM24-572790 202 17.00 23.00 6.00 0.16 0.16 0.01 0.07 0.35
and 111.00 124.75 13.75 0.20 0.08 0.01 0.01 0.01
SM34-603026 203 41.20 96.00 56.30 0.21 0.14 0.01 0.07 0.32
and 103.00 123.00 20.00 0.14 0.08 0.01 0.07 0.19
SM25-004552 205 Missed target
SM25-045506 206 Missed target
SM34 Sector
SM34-098547 207 13.85 75.10 61.25 0.28 0.21 0.01 0.07 0.28
and 79.50 93.50 14.00 0.11 0.05 0.01 0.01 0.04
SM34-313349 214 Missed target
SM34-236411 215 26.00 93.00 67.50 0.19 0.10 0.01 0.07 0.20
SM34-170475 216 16.00 84.50 68.50 0.21 0.10 0.02 0.05 0.12
and 94.50 117.00 22.50 0.15 0.02 0.02 0.01 0.04
SM34-023171 217 Not mineralized
Samapleu Main Deposit
SM44-684210 204 272.00 275.00 3.00 0.42 0.37 0.02 0.11 0.60
and 295.00 345.60 50.60 0.34 0.39 0.02 0.09 0.51
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Between May 09 and August 15, 2012, the Company drilled 13 core boreholes for a total of 1,913 m at the Samapleu Extension 1 Deposit, the SM34 Sector and the Samapleu Main Deposit. A total of 217 boreholes and 23,420 m have been drilled at the Samapleu Project since March 2010.
The SM34 and SM19 Sectors will be investigated further in the current phase 4 drilling program.
Drilling was performed by Global Exploration Services SARL of Abidjan, Cote d'Ivoire. Core logging and sampling were performed at Sama's facility in Yorodougou village. Sample preparations for the nickel-copper exploration program 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, Inspectorate Metals and Minerals, in Rustenburg, South Africa. 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.
An updated compilation of details of showings, deposits and locations may be viewed on Sama's website at http://www.samaresources.com/i/pdf/Sama_Corporate_Presentation.pdf.
The Samapleu Project in Cote d'Ivoire is currently in its exploration phase. Any future production will be managed by a joint venture controlled 66 2/3% by Sama Nickel Corporation, a wholly-owned subsidiary of the Company, and 33 1/3% by the state owned Societe pour le Developpement Minier de la Cote d'Ivoire.
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. 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 Company's 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
ceo@samaresources.com
Sama Resources Inc.
Mr. Matt Johnston
(604) 443-3835 or Toll Free: 1 (877) 792-6688, Ext. 4
(604) 682-3860 (FAX)
info@samaresources.com
www.samaresources.com