Sama Resources Intersects up to 29.0 Metres at 1.95% Nickel at its Newly Discovered Gogota Deposit at its Lola Project in Gui...
20 September 2012 - 9:00PM
Marketwired Canada
Sama Resources Inc. (TSX VENTURE:SME) ("Sama") is pleased to announce assay
results for 13 additional holes drilled at its newly discovered nickel-cobalt
rich laterite deposit (the "Gogota Deposit"), within its "Lola Project" in
eastern Guinea, West Africa, located adjacent to Sama's Samapleu Project across
the border in Cote d'Ivoire.
In April 2012, Sama commenced a drill program for approximately 1,500 metres
("m") at its newly discovered Gogota Deposit. Assay results for 17 holes have
been received. Drilling is ongoing at the Gogota Deposit. Table 1 below shows
mineral intercepts for these 17 drill holes.
A total of 27 new prospective laterite plateaus have been identified at the Lola
Project since the start of the regional exploration program in April 2011. The
combined surface area for these 27 laterite plateaus is 7.8 square kilometres.
Drilling was performed using 2 Jacro 175 core drill rigs owned by Sama. Core
logging and sampling were performed at Sama's facility in Gogota village. Sample
preparations were performed by 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, cobalt and all major oxides using peroxide
fusion XRF. Scandium has been determined by inductively coupled plasma optical
emission spectrometry.
Table 1: Mineral intercepts for 17 holes drilled at the Gogota
Deposit. Intercepts were defined using 1.0% nickel cut-off grades.
----------------------------------------------------------------------------
HOLE-ID SEQU-
ENCE FROM TO LENGTH Nickel Cobalt Iron MGO SIO2 Scandium
m m m % % % % % Grams/tonne
----------------------------------------------------------------------------
GG34-
800400 1 16.00 27.00 11.00 1.49 0.10 33.44 12.30 23.33 34
GG34-
800800 2 5.50 27.50 22.00 1.43 0.14 47.98 2.94 8.63 31
GG34-
800200 3 8.00 37.00 29.00 1.67 0.14 35.99 8.78 21.60 29
GG35-
400600 4 8.00 23.50 15.50 2.39 0.08 34.45 12.27 23.24 22
September 13 2012:
GG35-
400800 5 6.00 22.50 16.50 1.36 0.15 44.05 5.10 11.76 29
GG45-
400200 6 5.70 15.10 9.40 1.41 0.11 35.70 11.84 20.92 38
GG44-
800400 7 outside the deposit
GG25-
400200 8 4.00 22.50 18.50 1.42 0.14 53.69 0.30 5.83 31
GG25-
400400 9 16.50 45.50 29.00 1.95 0.10 39.16 9.34 15.57 28
GG25-
400600 10 6.00 23.00 17.00 1.34 0.15 49.81 0.74 4.40 29
GG25-
400800 11 5.00 25.80 20.80 1.22 0.14 50.50 0.66 4.18 25
GG35-
400200 12 2.40 22.00 19.60 1.67 0.11 33.47 11.39 19.34 22
GG35-
400400 13 2.10 13.65 11.55 1.32 0.17 46.01 5.00 10.16 33
GG35-
800400 14 Below cut-off grade
GG24-
800800 15 4.00 29.00 25.00 1.44 0.12 44.13 6.81 12.36 30
GG24-
400800 16 27.50 29.50 2.00 1.11 0.02 13.50 11.26 41.65 20
GG24-
800600 17 8.20 30.80 22.60 1.29 0.21 51.64 0.45 8.47 29
GG24-
800400 18 Results pending
GG34-
400200 19 Results pending
GG34-
800600 20 Results pending
GG44-
800200 21 Results pending
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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 Lola Project in Guinea is currently in its exploration phase. The
exploration licenses for the Lola Project in Guinea are exclusively held by a
wholly-owned subsidiary of Sama.
The exploration and drill program at Sama's Gogota Deposit 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, 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.
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