Sama Resources Inc.(TSX VENTURE: SME) -
Highlights:
-- A total of 30 holes for 4,589 metres have been drilled since March 2011.
-- Assays results for 7 of the 30 holes have been received so far.
-- Mineralized zone of 9.0 metres grading 1.01% nickel and 0.86% copper.
-- Detailed drilling at the newly discovered Samapleu Extension 1 has
started.
-- 17 additional holes to be reported in the coming weeks.
Sama Resources Inc. ("Sama" or the "Company") is pleased to
announce assay results for the first 7 of 30 holes drilled since
March 2011 at the Company's "Samapleu Project" in Cote d'Ivoire,
Africa.
"We are very excited about the excellent nickel and copper
grades being returned over good widths in this drilling program.
These results, together with the excellent regional potential of
the entire property including: Samapleu Extension 1,
Gangbapleu-Bounta ridge and the high-grade nickel-cobalt Sipilou
South laterite deposit, further enhance Sama's objective of
developing a world-class opportunity at its Samapleau Project,"
stated Dr. Marc-Antoine Audet, President and CEO.
A total of 30 holes totaling 4,589 metres ("m") were drilled
during March, April and May 2011 at the Samapleu Main deposit.
However, due to post-election tension prevailing in Abidjan at that
time, samples for the first 24 holes were sent for assay at the
beginning of May. To date, assay results for 7 holes have been
received and complete results for the remaining 17 holes should be
available shortly. Definition drilling on a 50 m by 25 m pattern
has been completed at the Samapleu Main deposit.
Readers are invited to visit Sama's website at
www.samaresources.com for a complete update on Sama's current
drilling campaign including all mineral intercepts for which we are
awaiting results.
The following tables summarize mineral intercepts at the
Samapleu Main Poly-metallic deposit and the few holes that have
been drilled to date at the newly discovered Samapleu Extension 1
deposit. Mineralization starts near surface. Combined mineral
intercepts were defined using 0.20% nickel ("Ni")
cut-off-grades.
Drill rigs are now working at the newly discovered Samapleu
Extension 1 located 1.3 kilometres ("km") north of the Main
deposit. Several new excellent regional targets have been
identified and will also be drilled in the coming weeks, including
targets 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 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.
In addition to the Samapleu sulphide nickel deposits, Sama's
license also hosts a laterite-cobalt-Ni-scandium deposit called
Sipilou South, which is located 5 km northwest of the Samapleu
Project. A total of 22 holes were drilled in February 2011, with
intercepts including: 13.7 m at 2.5% Ni, 11.0 m at 1.9% Ni, 19.5 m
at 1.5% Ni and 16 m at 1.4% Ni. Additional drilling will be
performed at the Sipilou South laterite deposit in order to reduce
drill spacing to 200 m x 200 m in the section north of the Mene
River. Approximately 50% of the Sipilou South laterite deposit
extends into the exploration license.
Table 1: Combined mineral intercepts for holes
drilled at the Samapleu Main deposit.
----------------------------------------------------------------------------
Start Total Thickness
From of Mineralization Ni Cu Co PD PT AU
HOLE-ID m m % % % gr/t gr/t gr/t
----------------------------------------------------------------------------
New
interceptions
SM44-564128 85.25 17.45 0.30 0.17 0.02 0.53 0.18 0.03
Include 0.20 1.07 0.58 0.05 2.03 2.24 0.01
SM44-523243 45.20 31.10 0.34 0.29 0.02 0.34 0.11 0.04
Include 1.15 2.03 1.00 0.07 1.47 0.03 0.02
SM44-505224 37.50 46.70 0.42 0.35 0.02 0.57 0.26 0.05
Include 9.00 1.01 0.86 0.04 0.83 0.09 0.05
SM44-485210 27.95 40.50 0.29 0.29 0.02 0.34 0.14 0.02
SM44-458386 12.90 0.55 0.53 0.62 0.03 0.44 0.08 0.10
SM44-541188 58.70 113.50 0.31 0.27 0.02 0.72 0.15 0.06
Include 0.25 2.88 0.25 0.11 4.57 0.04 0.01
SM44-560203 87.80 62.05 0.32 0.24 0.02 0.38 0.17 0.04
Include 2.70 1.31 0.22 0.05 1.41 1.19 0.03
Results for 23
more holes
are awaited
Previously
reported
SM44-525290b 70.50 142.25 0.31 0.29 0.02 0.43 0.12 0.07
Include 4.13 1.58 0.52 0.06 1.67 0.21 0.05
SM44-450250 15.00 50.60 0.97 0.89 0.04 0.83 0.36 0.14
Include 12.50 2.92 2.56 0.10 2.12 0.28 0.34
SM44-492354 15.20 39.80 0.87 0.74 0.04 0.54 0.11 0.06
Include 12.00 1.78 1.21 0.08 1.02 0.05 0.11
SM44-525290 23.00 60.50 0.34 0.30 0.02 0.33 0.12 0.06
Include 1.11 1.43 0.67 0.05 1.10 0.17 0.08
SM44-505224 37.50 46.70 0.42 0.35 0.02 0.57 0.26 0.05
Include 4.00 1.42 1.08 0.06 1.23 0.10 0.05
SM44-450250b 33.50 50.45 1.00 0.96 0.04 0.91 0.26 0.08
Include 7.70 3.65 2.60 0.14 2.89 0.22 0.06
SM44-487292b 38.10 39.25 0.37 0.43 0.02 0.35 0.11 0.07
Include 0.95 1.14 0.94 0.05 0.62 0.06 0.04
SM44-487292d 31.15 37.85 0.53 0.57 0.02 0.51 0.12 0.06
Include 3.67 2.05 1.63 0.08 1.41 0.06 0.04
SM44-487292c 30.75 33.35 0.43 0.39 0.02 0.37 0.09 0.05
Include 4.55 1.10 0.69 0.05 0.80 0.10 0.06
SM44-474334 29.00 32.00 0.33 0.42 0.02 0.23 0.11 0.09
Include 1.00 1.03 0.49 0.05 0.69 0.06 0.04
SM44-517178 46.29 85.39 0.29 0.27 0.02 0.40 0.12 0.05
Include 0.86 1.17 0.69 0.05 1.92 0.12 0.04
SM44-540257 66.60 52.10 0.30 0.23 0.02 0.30 0.11 0.04
Include 0.75 1.91 0.38 0.08 0.86 0.03 0.02
SM44-641332 59.00 48.95 0.30 0.27 0.02 0.34 0.13 0.05
Include 0.95 1.02 0.50 0.04 1.14 0.12 0.02
SM44-450250c 42.35 45.30 0.47 0.80 0.03 0.48 0.27 0.12
Include 3.55 2.27 1.38 0.09 1.57 0.39 0.04
SM44-506367 10.00 26.00 0.41 0.36 0.02 0.28 0.10 0.03
Include 0.18 4.31 0.09 0.17 0.05 0.02 0.01
SM44-680289 36.00 24.55 0.52 0.58 0.03 0.90 0.23 0.04
Include 3.10 1.48 1.76 0.07 2.33 0.80 0.10
SM44-487292 69.00 22.85 0.36 0.38 0.02 0.29 0.12 0.06
Include 1.80 1.14 0.60 0.05 0.64 0.04 0.04
SM44-533379 15.90 12.05 0.63 0.52 0.03 0.36 0.06 0.06
Include 3.95 1.20 0.97 0.05 0.69 0.06 0.10
SM44-467270 44.10 11.70 0.42 0.39 0.02 0.42 0.19 0.07
Include 1.05 1.12 0.47 0.04 0.11 0.04 0.04
----------------------------------------------------------------------------
Table 2: Combined mineral intercepts for holes drilled at the Samapleu
Extension 1.
--------------------------------------------------------------------------
Start Total Thickness
From of Mineralization Ni Cu Co PD PT AU
HOLE-ID m m % % % gr/t gr/t gr/t
--------------------------------------------------------------------------
Previously
reported
SM24-
594687 43.60 51.75 0.27 0.20 0.02 0.51 0.10 0.02
Include 0.60 1.75 0.31 0.08 2.74 0.02 0.03
SM24-
699580 72.00 53.50 0.27 0.21 0.02 0.35 0.07 0.04
SM24-
628651 38.55 54.00 0.51 0.31 0.03 0.66 0.13 0.03
Include 7.85 1.65 0.48 0.07 1.29 0.29 0.04
SM24-
661614 68.50 112.60 0.34 0.29 0.02 0.63 0.12 0.04
Include 4.60 1.45 0.83 0.08 2.23 0.10 0.06
--------------------------------------------------------------------------
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 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 Ni, copper, cobalt, fer,
sulphur, platinum, palladium, rhodium and gold using sodium
peroxide fusion and determined by Inductively Coupled Plasma
optical emission spectrometry.
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 and a Qualified Person under 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 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 www.samaresources.com Hamza Thindal Capital
Corp. Kam Thindal Investor Relations (604) 566-9236 or Cell: (604)
488-9875
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