Sama Resources Expands Exploration and Resource Definition Work at the Samapleu Project.
May 19 2011 - 9:50AM
Marketwired Canada
Sama Resources Inc. (TSX VENTURE:SME) -
Highlights
-- 8,100 metres of definition drilling completed since November 2010:
-- 24 holes totaling 3,395 metres were drilled in March and April 2011,
and results are expected in the next 3 to 4 weeks.
-- Newly discovered potential zones:
-- Gangbapleu-Bounta ridge, a 19-kilometre corridor with 11 identified
mafic bodies.
-- NI 43-101 Compliant Mineral Resource expected in the second half of 2011
for the Samapleu Ni-Cu-PGM and the Sipilou South Ni-Co laterite
projects.
Sama Resources Inc. ("Sama" or the "Company") is pleased to announce that the
drill programs to date have successfully confirmed the mineralized potential
within the 446 square kilometre ("km") district-scale Samapleu project area.
This includes the Samapleu nickel ("Ni"), copper ("Cu") and platinum group
metals ("PGM") deposit, the discovered Samapleu Extension 1 Ni-Cu-PGM zone and
the Gangbapleu-Bounta ridge. The Gangbapleu-Bounta ridge is a 19-km long ridge
that has been outlined as hosting 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 northeast end of the ridge have returned strong chargeability
signatures similar to what has been observed at the Samapleu and Samapleu
Extension 1 deposits. Preparation of drilling pads is ongoing at the ridge.
The Company expects to deliver a preliminary National Instrument 43-101 ("NI
43-101") compliant Mineral Resource for the Samapleu Ni-Cu-PGM deposits in the
second half of 2011, as well as a NI 43-101 compliant Mineral Resource for the
Sipilou South nickel-cobalt laterite deposit by the end of the summer. The
Company is also dedicated to defining additional mineralized bodies through
regional exploration.
Please click the link below for a map of the mineralized zones together with the
Gangbapleu-Bounta ridge:
http://www.samaresources.com/i/misc/Samapleu_Bounta_Gangbapleu_IP_compilation_
May2011.jpg
"The Samapleu polymetallic deposit and surrounding mineralized occurrences give
Sama the opportunity to create a new world-class nickel district. The combined
occurrences of Sama's Samapleu nickel-copper deposit is in close vicinity to the
newly investigated Sipilou South laterite deposit and enhances the Company's
goal to become the first polymetallic producer in Western Africa," stated Dr.
Marc-Antoine Audet, President and CEO.
Regional Update
Regional exploration and drilling continues at the Samapleu project as
scheduled. Additional new targets have been outlined and will be drilled
shortly. In January 2011, the Company expanded its exploration work to the
adjacent wholly-owned 1,212 km2 Lola project in the Republic of Guinea. The Lola
project was acquired to cover extensions in Guinea which are proving to be
world-class laterite nickel-cobalt deposits in addition to the massive sulphide
potential discovered in adjacent Cote d'Ivoire. Dr. Audet first identified this
potential while working on adjacent permits in Cote d'Ivoire in the 1990s.
Mineralized Zones within the Samapleu Project and Highlights to Date
Samapleu Ni-Cu-PGM Deposit
The Samapleu deposit appears to be composed of two distinct and more or less
parallel tubular shaped lenses of massive sulphide plunging towards the south at
approximately 35 degrees. These two massive lenses are located within a 10% to
40% halo of disseminated sulphide within pyroxenite units, forming a 400 metre
("m") long mass open at surface toward the southeast and the northwest and at
depth. As of the end of April 2011, 56 holes totaling 8,236 m have been drilled
on a 50 m by 25 m drill pattern in order to define an open pittable Mineral
Resource extending from surface down to approximately 150 m. A total of 24 holes
totaling 3,395 m were drilled during March and April 2011, however, due to
post-election tension prevailing at that time in Abidjan, those samples were
sent for assays at the beginning of May. Results are expected by mid June. In
addition to previously published drill results, the Company is pleased to
disclose the following new results from three holes drilled in January 2011:
----------------------------------------------------------------------------
Borehole Assay Result
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SM44-680289 23 m @ 0.52% Ni, 0.58% Cu (including 1.05 m at 2.11% Ni,
2.34% Cu)
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SM44-641332 44 m @ 0.30% Ni, 0.29% Cu
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SM44-487292d 20 m @ 0.68% Ni, 0.79% Cu
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All assay results and cross-sections are presented on the Company's website at
www.samaresources.com under Samapleu Ni-Cu-PGE, Drilling Update April 11
2011.pdf.
Samapleu Ni-Cu-PGM Extension 1
-- 1.3 km northeast of the Main Samapleu Deposit.
-- 9.0 m @ 1.93% Ni + Cu, 1.6 g/t PGM within 109 m of material enriched
with disseminated and semi-massive sulphide mineralization.
-- 0.90 m @ 2.68% Ni.
-- 1.65 m @ 1.82% Ni, 2.14 grams per tonne ("gpt") Pd.
-- 0.65 m @ 1.75% Ni, 2.74 gpt Pd.
An additional 2,500 m of drilling will be performed at the Samapleu Ni-Cu-PGM
Extension 1 in the next few months.
Sipilou South Nickel-Cobalt Laterite Deposit
In February 2011, the Company drilled 22 holes totalling 813 m on a 400 m by 800
m grid. Sixteen of the 22 holes outlined a surface area of 3.1 km2; comprising a
continuous Nil-cobalt-scandium-rich surface laterite deposit. Individual cobalt
and scandium assays reach up to 0.34% and 110 ppm, respectively, in the
limonitic section of the Sipilou South deposit.
----------------------------------------------------------------------------
Assay Result
Borehole (using 1.0% Ni cut-off grade)
----------------------------------------------------------------------------
SS44-200400 13.7 m @ 2.5% Ni
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SS44-200800 10.1 m @ 1.2% Ni
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SS44-800800 9.5 m @ 1.4% Ni
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SS45-400800 4.7 m @ 1.3% Ni
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SS54-200400 5.4 m @ 1.3% Ni
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SS64-200100 6.5 m @ 1.1% Ni
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SS64-200100 laterite with less than 1.0% Ni
----------------------------------------------------------------------------
SS64-200800 13.0 m @ 1.5% Ni
----------------------------------------------------------------------------
SS64-350400 laterite with less than 1.0% Ni
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SS64-800800 19.5 m @ 1.5% Ni
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SS73-750315 laterite with less than 1.0% Ni
----------------------------------------------------------------------------
SS74-400400 6.5 m @ 1.1% Ni
----------------------------------------------------------------------------
SS74-400800 16.0 m @ 1.4% Ni
----------------------------------------------------------------------------
SS74-800400 2.5 m @ 1.4% Ni
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SS74-800800 3.0 m @ 1.3% Ni
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SS84-800400 11.0 m @ 1.9% Ni
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Project Location
The Samapleu project is located approximately 600 km northwest of Abidjan in
Cote d'Ivoire and encompasses district-size scale of approximately 446 km2. The
area has excellent infrastructure with a road network leading to the project and
all required services available in the nearby towns of Man and Biankouma. The
Samapleu license is located adjacent to the large world-class Ni-cobalt laterite
deposits of Sipilou, Foungouesso, Moyango and Viala.
Drilling was performed by Global Exploration Services SARL of Abidjan, Côte
d'Ivoire. Core logging and sampling were performed at Sama's facility in
Yorodougou village. Samples 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
will be assayed for nickel, cobalt, scandium and all major oxides. The assays
were performed using XRF analysis.
The Samapleu project is a joint venture between the Company's 100% owned
subsidiary SAMA Nickel Corporation (66 2/3%) and SODEMI (33 1/3%).
This News Release was prepared by Dr. Marc-Antoine Audet, P.Geo, President and
CEO of Sama Resources Inc. and a Qualified Person under National Instrument
43-101.
For more information please visit Sama's website at www.samaresources.com.
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 are
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.
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