Sama Resources Inc. (TSX VENTURE: SME) -
Highlights - Nickel-Copper Sulphide Program:
-- Drilling resumed on September 08 with 2 drilling rigs.
-- Hole SM44-502299 returned 8.30 m at 2.25% Ni+Cu.
-- Hole SM44-590230b returned 14.35 m at 1.82% Ni+Cu.
Highlights - Sipilou South Nickel-Cobalt Laterite Project:
-- Assay results for 8 out of the 24 holes drilled last June were received:
18.75 m at 1.89% Ni, 15.65 m at 1.42% Ni and 13.00 m at 1.50% Ni.
Sama Resources Inc. ("Sama" or the "Company") is pleased to
announce that drilling has resumed at the Samapleu property in Cote
d'Ivoire using 2 drill rigs. The current drilling campaign is aimed
at completing drilling at the "Samapleu Extension 1 poly-metallic
zone" as well as testing the newly identified "Gangbapleu Target".
Sama plans to complete the "Sipilou South Nickel-Cobalt Laterite"
program on a 200 metre ("m") x 200 m spacing and to initiate a
2,000 m drilling program at the Company's "Lola Property" in the
Republic of Guinea.
Samapleu Nickel-Copper Sulphide Project, Cote d'Ivoire
Assay results for 7 holes drilled at the "Samapleu Main
poly-metallic deposit" have been received. Complete results for 2
additional holes are still outstanding. Drilling on a 50 m by 25 m
grid has been completed for the upper part of the deposit.
Additional drilling will be performed at the deposit this fall in
order to accurately model the geometry of the 2 main sulphide
massive veins. Mineral resource estimates should be available by
the end of 2011. Table 1 below shows combined mineral intercepts
for these new holes.
Assay results for holes drilled at the newly discovered Samapleu
Extension 1 poly-metallic zone are still pending. Mineralized
intersections included 12.60 m and 7.45 m of highly disseminated,
sulphide rich mineralization including 0.9 m and 0.8 m of massive
sulphide veins, respectively. Mineralization is near surface
starting vertically at approximately 43 m and 37 m. True widths are
not known at this time. The Samapleu Extension 1 poly-metallic zone
is located 1.3 kilometres ("km") north of the Samapleu Main
poly-metallic deposit.
Excellent regional targets have been identified, including the
Gangbapleu Target along the 19-km long Gangbapleu-Bounta ridge that
hosts up to 11 newly identified mafic to ultramafic bodies, each
with the potential of hosting mineralization. Ground magnetometre
and induced polarization geophysics ("IP") surveys performed in
January 2011 over the Gangbapleu Target have returned strong
chargeability signatures, similar to what has been observed at the
deposits in the Samapleu Main poly-metallic and Samapleu Extension
1 poly-metallic zones. Detailed geological mapping and sampling,
together with additional IP surveys, will also be performed.
Table 1: Combined new mineral intercepts for the reported 7
holes drilled at the Samapleu Main poly-metallic deposit. Combined
downhole mineral intercepts were defined using 0.20% nickel cut-off
grades.
----------------------------------------------------------------------------
Total
Downhole
Thickness
Start of
From Mineralization Ni Cu Co PD PT AU
HOLE-ID m m % % % gr/t gr/t gr/t
New
Interceptions
SM44-568343 42.20 30.00 0.34 0.35 0.02 0.13 0.27 0.04
Includes 2.00 1.38 1.65 0.06 0.19 0.69 0.16
SM44-545330 15.00 41.65 0.36 0.30 0.02 0.14 0.39 0.05
Includes 0.40 1.53 1.02 0.06 0.06 1.27 0.05
SM44-525322 15.30 57.85 0.32 0.36 0.02 0.11 0.31 0.05
SM44-502299 21.85 57.45 0.49 0.37 0.03 0.12 0.47 0.06
Includes 8.30 1.46 0.79 0.06 0.16 1.32 0.16
SM44-405257 11.30 37.90 0.32 0.34 0.02 0.09 0.26 0.05
SM44-590230b 94.15 90.05 0.44 0.63 0.02 0.49 0.79 0.06
Includes 14.35 0.75 1.07 0.03 2.44 1.38 0.16
SM44-573220 121.05 0.36 0.32 0.02 0.14 0.58 0.04
Includes 4.65 0.77 0.79 0.04 0.18 1.10 0.04
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Sipilou South Nickel-Cobalt Laterite Deposit, Cote d'Ivoire
In February 2011, the Company outlined a 3.1 km2 continuous
nickel-cobalt rich surface laterite deposit located 5 km northwest
of the Samapleu Main poly-metallic deposit. A 59-hole drill program
commenced last June in order to reduce the drill spacing to 200 m
by 200 m pattern. A total of 24 holes were drilled in June and July
and the remaining 35 will be completed this fall. Assay results for
8 holes out of the 24 holes drilled in June were received and are
detailed below.
Assay Results Using
Borehole 1.0% Nickel Cut-off Grade
SS54-400200 laterite with less than 1.0% Ni
SS54-200200 13.00 m at 1.50% Ni
SS54-600200 laterite with less than 1.0% Ni
SS44-600800 15.65 m at 1.42% Ni
SS54-800200 Felsic material
SS45-200800 Felsic material
SS54-600400 10.90 m at 1.35% Ni
SS44-600600 18.75m at 1.89%Ni
Readers are invited to visit Sama's web site at
www.samaresources.com for a complete update on Sama's current
drilling campaign, including all mineral intercepts for which Sama
is awaiting results.
Drilling was performed by Global Exploration Services SARL of
Abidjan, Cote d'Ivoire. Core logging and sampling was performed at
Sama's facility in Yorodougou village. Sample preparations for the
nickel-copper sulphide 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 ("BVML") and then dispatched by BVML directly
to their assay laboratory, Ultra Trace Pty, in Perth, Australia.
All samples are assayed for nickel, copper, cobalt, iron, sulphur,
platinum, palladium, rhodium and gold using sodium peroxide fusion
and determined by inductively coupled plasma optical emission
spectrometry. All samples for the nickel-cobalt laterite programs
were delivered to BVML for sample preparation and then dispatched
to Ultra Trace Pty, in Perth, Australia. All samples are assayed
for nickel, cobalt, scandium and all major oxides using peroxide
fusion XRF.
The Samapleu Nickel-Copper Sulphide Project in Cote d'Ivoire is
currently in its exploration phase. 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 SODEMI. The exploration licences for the Lola Project in Guinea
are exclusively held by a wholly-owned branch office of Sama.
This News Release was prepared by Dr. Marc-Antoine Audet,
P.Geo., President and CEO of Sama and a Qualified Person under
National Instrument 43-101.
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 the
Company'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 the Company, 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, the geology, grade and continuity of mineral
deposits, the possibility that future exploration, development or
mining results will not be consistent with the Company'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.
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, the Company 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. Matt Johnston (604)
443-3835 or Toll Free: (877) 792-6688, Press 4 (604) 682-3860 (FAX)
www.samaresources.com
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