Sama Resources Intensifies Regional Exploration at Its Samapleu Deposits in CôTe d'Ivoire and Extends the Mineralization Str...
18 September 2012 - 9:00PM
Marketwired Canada
Sama Resources Inc. (TSX VENTURE:SME) -
Highlights:
-- Aggressive regional exploration program for 2012-13.
-- Extending surface mineralization strike length from 250 m to 1,200 m at
Samapleu Extension 1 Deposit.
-- Sama acquires a Coretech CSD 1300G drill rig for in-fill and regional
drill programs at its Samapleu Project.
Sama Resources Inc. ("Sama" or the "Company") is pleased to provide an update on
its summer exploration activities at its "Samapleu Project" in Cote d'Ivoire,
West Africa.
"In addition to the excellent results obtained from the Samapleu Deposits, the
Company is aggressively pursuing a regional exploration program aiming at
discovering additional nickel and copper mineralization within this new base
metal district," commented Dr. Marc-Antoine Audet, President and CEO of Sama.
"We are planning to conduct an airborne electromagnetic survey over the most
prospective ground within the Samapleu Project as defined by the recent airborne
magnetometer and radiometric survey," added Dr. Audet.
Samapleu Project
From May 09 to August 15, 2012, 13 core boreholes for a total of 1,913 metres
("m") were drilled at the nickel-copper "Samapleu Extension 1 Deposit", and 1
core borehole for 354 m was drilled at the "Samapleu Extension 1 Deposit"
(collectively, the "Samapleu Deposits"). The Samapleu Extension 1 Deposit is
located 1.3 kilometres north of the Samapleu Main Deposit.
These 14 boreholes were designed to test the mineralization potential near
surface in the northeast and southwest areas of the Samapleu Extension 1 Deposit
and to test the presence of mineralization at depth at the Samapleu Main
Deposit.
These new near surface intercepts extend the Samapleu Extension 1 mineralized
zone from a 250 m long strike, as defined in Sama's Technical Report dated July
20, 2012 (see Sama's release dated June 21, 2012), to up to 1,200 m and remains
open on both ends and at depth.
Assays results for 6 of the 14 holes are summarized in Table 1 below.
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.
Table 1: Mineral intercepts for 6 of 14 holes drilled at the Samapleu
Deposits.Intercepts were defined using 0.1% nickel cut-off grades.
----------------------------------------------------------------------------
Plati- Palla-
num dium
FROM TO LENGTH Nickel Copper Cobalt Grams/ Grams/
HOLE-ID SEQUENCE m m m % % % tonne tonne
----------------------------------------------------------------------------
Samapleu Extension 1 Deposit
SM25-039587 199 32.60 79.00 46.40 0.37 0.39 0.02 0.04 0.48
79.00 162.00 Results pending
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 23.00 4.70 0.20 0.27 0.01 0.09 0.49
and 66.00 91.00 25.00 0.22 0.13 0.02 0.06 0.29
and 95.50 137.50 27.50 0.26 0.16 0.02 0.06 0.37
SM24-572790 202 Results pending
SM34-603026 203 41.20 85.00 33.80 0.23 0.19 0.01 0.07 0.36
and 103.00 120.00 17.00 0.14 0.08 0.01 0.07 0.19
SM25-004552 205 Results pending
SM25-045506 206 Results pending
SM34-098547 207 Results pending
SM34-313349 214 Results pending
SM34-236411 215 Results pending
SM34-170475 216 Results pending
SM34-023171 217 Results pending
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
----------------------------------------------------------------------------
New Drill Rig
The Company has recently acquired a Coretech CSR1300G core drill rig which is
capable of drilling down to 700 m. This drill rig is the same model as the rig
that Sama has used at the Samapleu Project since 2010. The new rig is expected
to be in service by mid-October and will be used for in-fill and regional
exploration drilling program at the Samapleu Deposits.
# # #
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 reader is invited to view Sama's Technical Report dated July 20, 2012,
prepared in accordance with National Instrument 43-101, Standards of Disclosure
for Mineral Projects ("NI 43-101'), at
http://www.samaresources.com/i/pdf/43_101_Technical_Report.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
SODEMI.
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 NI 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 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.
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.
Sama Resources (TSXV:SME)
Historical Stock Chart
From Jun 2024 to Jul 2024
Sama Resources (TSXV:SME)
Historical Stock Chart
From Jul 2023 to Jul 2024