Sama Intersects 4.5 Metre Semi-Massive Lens Grading 1.05% Nickel, 0.89% Copper and 1.62 gpt Palladium at Samapleu
18 June 2013 - 9:00PM
Marketwired Canada
Sama Resources Inc. (TSX VENTURE:SME) ("Sama" or the "Company") -
Highlights:
-- SM25-184483 returned 86 metres grading 0.27% nickel, 0.20% copper, 0.50
gpt palladium and 0.14 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.
-- SM25-133605 intersected 66 metres grading 0.31% nickel, 0.21% copper,
0.64 gpt palladium and 0.14 gpt platinum, including an interval of 2.98
metres grading 1.28% nickel, 0.51% copper, 2.12 gpt palladium and 0.15
gpt platinum.
-- Systematic exploration of high priority HTEM nickel-copper-palladium
targets continues with ground geophysics and geological mapping and
regional drilling to commence shortly.
-- Sama acquires a second Coretech CSD 1300G drill rig to fast track
exploration.
Sama Resources Inc. is pleased to announce the assay results from 6 holes
drilled at the Samapleu Extension 1 nickel-copper Deposit in Cote d'Ivoire, West
Africa. Drill hole SM25-184483 intercepted a mineralized zone of 86 metres
grading 0.27% nickel, 0.20% copper, 0.50 grams per tonne ("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.
Hole SM25-133605 intersected a continuous mineralized zone of 66 metres grading
0.31% nickel, 0.21% copper, 0.64 gpt palladium and 0.14 gpt platinum. The
mineralized interval includes several semi-massive high grade sulphide lenses
and stringers including an interval of 2.98 metres grading 1.28% nickel, 0.51%
copper, 2.12 gpt palladium and 0.15 gpt platinum.
These 6 holes are part of the new 230 metre-long discovery at the northeast end
of the Samapleu Extension 1 Deposit. Mineralization remains open at depth.
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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HOLE-ID FROM TO LENGTH Nickel Copper Cobalt Platinum Palladium
m m m % % % gpt gpt
----------------------------------------------------------------------------
SM25-184483 42.50 129.00 86.50 0.27 0.20 0.02 0.14 0.50
Including 4.55 1.05 0.89 0.02 0.24 1.62
SM25-256482 106.3 143.87 37.29 0.33 0.20 0.02 0.10 0.52
Including 0.30 1.67 2.38 0.07 0.13 2.66
0.42 2.30 1.68 0.10 0.06 1.77
SM25-183519 57.60 152.65 94.63 0.26 0.18 0.02 0.14 0.51
Including 0.30 1.12 0.22 0.05 0.14 1.54
0.55 1.09 0.66 0.05 0.12 1.70
0.55 1.33 0.38 0.06 0.08 1.86
0.25 1.38 1.04 0.07 0.04 2.44
0.40 1.03 0.56 0.05 0.16 1.90
0.60 1.81 0.18 0.07 0.14 2.76
0.45 1.12 0.59 0.07 0.32 2.68
0.44 1.94 0.18 0.12 0.06 3.50
154.80 188.00 33.20 0.16 0.04 0.02 0.07 0.18
SM25-133605 81.00 149.00 65.65 0.31 0.21 0.02 0.14 0.64
Including 0.50 1.19 0.34 0.09 0.20 2.06
1.73 1.41 0.58 0.06 0.18 2.32
0.75 1.03 0.45 0.05 0.04 1.68
SM25-096647 71.00 81.45 10.45 0.36 0.29 0.02 0.21 0.58
90.20 180.60 90.40 0.23 0.12 0.02 0.06 0.33
Including 0.60 1.09 0.30 0.04 0.04 1.62
0.40 1.87 0.83 0.09 0.02 2.30
0.70 1.01 0.30 0.06 0.12 1.24
0.55 1.21 0.47 0.06 0.10 2.06
SM25-063682 71.00 81.45 10.45 0.37 0.29 0.02 0.21 0.58
Including 1.10 1.34 0.73 0.06 0.16 2.21
90.20 180.6 90.40 0.23 0.12 0.02 0.10 0.31
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Sama continues systematic exploration of high priority nickel-copper-palladium
targets over areas outlined by the recently completed 3,300 line/kilometre
airborne helicopter time domain electromagnetic and magnetic survey over part of
the Company's Samapleu Exploration License. Geological mapping and sampling
continues as well, highlighted by the recent discovery of mineralized showings
(see Sama News Release dated June 06, 2013). Access roads and regional drill
sites are currently being built and ground geophysical surveys over selected
areas are planned to commence in the next few months.
New Drill Rig
The Company has purchased a second Coretech CSD 1300G core drill rig which is
adept in drilling up to 700 metres below surface. The new rig is expected to be
in service by mid-August and will be used to fast track the exploration drilling
program at the Samapleu Project. Exploration costs per metre of drilling have
already been significantly reduced since the Company purchased its first
Coretech drill rig in December 2012.
Sama is led by a management team well experienced in base metal exploration and
development with a long history of working in Africa.
Sama is well funded with approximately CAN$4.2 Million in cash.
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 Samapleu Project is currently in a relatively advanced exploration phase.
Future exploitation will be managed by a joint venture currently controlled 66
2/3% by Sama Nickel Corporation, a wholly-owned subsidiary of the Company, and
33 1/3% by Societe pour le Developpement Minier de Cote d'Ivoire.
The exploration and drill program at Sama's Samapleu Extension 1 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.
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.
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.
FOR FURTHER INFORMATION PLEASE CONTACT:
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
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