Sama Resources Intersects 69 Metres at 1.10% Nickel+Copper and More New Results at its Samapleu Nickel-Copper Deposits in Cot...
February 16 2012 - 6:00AM
Marketwired Canada
Sama Resources Inc. (TSX VENTURE:SME) -
Highlights:
-- Hole SM25-009620 returned 69.50 m at 1.10% Ni+Cu
-- Hole SM44-494350a returned 26.95 m at 1.12% Ni+Cu
-- Hole SM44-494350b returned 39.60 m at 1.21% Ni+Cu
-- Hole SM24-771588 returned 11.45 m at 1.12% Ni+Cu
-- Ni+Cu mineralized material: additional upgrading metallurgical tests
ongoing at SGS and MineSense.
Sama Resources Inc. (TSX VENTURE:SME) ("Sama" or the "Company") is pleased to
announce assay results for mineralized intersections of 11 holes drilled in
October and November of 2011 at its Samapleu project in Cote d'Ivoire.
Assay results for 11 holes drilled at the "Samapleu Extension 1 poly-metallic
zone" and the "Samapleu Main poly-metallic deposit" have been received. The
Samapleu Extension 1 poly-metallic zone is located 1.3 kilometres ("km") north
of the Samapleu Main poly-metallic deposit.
Drill hole SM25-009620 returned 69.50 metres ("m") combined highly disseminated
and massive sulphides grading 1.10% nickel ("Ni")+copper ("Cu") and 1.06 grams
per tonne ("gpt") palladium ("Pd")+platinum ("Pt"), including 2.1 m of massive
sulphides grading 2.29% nickel, 0.50% copper, 0.13% cobalt ("Co") and 2.19 gpt
palladium. The mineralized intersection starts at 33.75 m from surface,
immediately below the overburden. Borehole SM25-009620 was drilled at the
northeast end of the mineralized strike of the Samapleu Extension 1
poly-metallic zone, meaning that the mineralized zone is open toward the
northeast, as well as depth.
Borehole SM24-627794, located at the southwest end of the Samapleu Extension 1
poly-metallic zone, returned 1.95 m of massive sulphides grading 2.29% nickel
and 0.36% copper, indicating that the mineralized zone is also open toward the
southwest.
Assay results for 3 more holes are still pending. Table 1 below shows combined
mineral intercepts for these new holes.
Flotation test work performed earlier in 2011 by Societe Generale de
Surveillance, Lakefield, Ontario ("SGS"), demonstrated that from a mineralized
blend grading of 0.53% nickel and 0.52% copper, a bulk nickel+copper concentrate
analyzing 18.5% is produced. Based on these excellent results, SGS was
commissioned to perform upgrading metallurgical tests. The initial upgrading
tests indicated that lower grades of Samapleu mineralized material will produce
a higher grade of material as fed to flotation.
Upgrading Tests - 0.35% Nickel Material
Heavy media separation tests showed that in treating material at 0.35% nickel
and 0.33% copper, the resultant material grades are 0.66% Nickel and 0.53% Cu,
while rejecting 55% of the feed material mass prior to the flotation circuit.
Further tests are currently ongoing with a bulk sample of 44 kilograms using a
0.30% Nickel calculated head grade. Additional upgrading tests are planned using
electromagnetic sensor sorting methodology at MineSense's laboratory in
Vancouver, BC.
The Company's discovered 19-km long Gangbapleu-Bounta ridge contain several
outcropping mafic and ultramafic bodies, as well as newly discovered Massive
Chromite occurrences named Bounta North and Bounta South (see News Release dated
January 14, 2012). These Massive Chromite occurrences, in addition to having
significant potential by themselves as possible candidates for direct shipping
economic material, are indicative of a highly favourable geological environment
for additional Samapleu Ni-Cu style mineralization.
The Company is actively pursuing surface exploration along the 19 km long ridge
and is seeking to perform an approximately 12,000 line/km airborne magnetometre
survey over the entire Samapleu property in Cote d'Ivoire and a large part of
Sama's Lola Project in Guinea, which is adjacent to Samapleu.
The reader is invited to review Sama's updated compilation of details regarding
showings, deposits and locations on its website at
http://www.samaresources.com/i/pdf/Sama_Corporate_Presentation.pdf.
Drilling was performed by Global Exploration Services SARL of Abidjan, Cote
d'Ivoire. Core logging and sampling was performed at Sama's facility in
Yorodougou village. Sample preparations for the nickel-copper sulphide
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 ("BVML") and then dispatched by BVML directly to their assay laboratory,
Ultra Trace Pty, in Perth, Australia. All samples are assayed for nickel,
copper, cobalt, iron, sulphur, platinum, palladium, rhodium and gold ("Au")
using sodium peroxide fusion and determined by inductively coupled plasma
optical emission spectrometry.
The Samapleu Nickel-Copper Sulphide Project in Cote d'Ivoire is currently in its
exploration phase. 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 Societe pour le Developpement Minier de Cote d'Ivoire.
Table 1: Combined new mineral intercepts for 11 holes drilled at the Samapleu
Main poly-metallic deposit. Combined downhole mineral intercepts were defined
using 0.20% nickel cut-off grades.
----------------------------------------------------------------------------
Total
Downhole
Start Thickness of
New HOLE-ID From Mineralization Ni Cu Co Pt Pd Au
m m % % % gr/t gr/t gr/t
New Interceptions
SM44-494350a 18.5 26.95 0.72 0.40 0.04 0.10 0.41 0.03
Includes 0.80 1.31 0.69 0.06 0.31 0.62 0.04
Includes 0.50 3.97 0.05 0.17 0.00 0.38 0.00
Includes 1.70 3.04 0.37 0.13 0.03 1.49 0.02
SM44-494350b 11.00 39.60 0.62 0.59 0.03 0.10 0.36 0.04
Includes 2.10 2.93 1.96 0.13 0.02 1.32 0.02
Includes 1.50 1.62 1.33 0.08 0.35 0.85 0.04
SM24-737618a 26.00 10.20 0.65 0.41 0.03 0.16 1.70 0.05
Includes 3.00 1.38 0.52 0.05 0.22 3.63 0.08
Includes 0.40 1.38 3.43 0.06 0.10 4.57 0.09
SM24-737618b 27.00 10.85 0.32 0.26 0.02 0.33 0.93 0.06
Includes 0.30 1.32 0.21 0.08 0.45 3.97 0.16
SM24-772654 34.25 85.95 0.31 0.22 0.02 0.06 0.38 0.01
Includes 1.00 1.11 0.53 0.06 0.22 1.82 0.07
Includes 0.80 1.03 0.29 0.04 0.24 1.48 0.01
Includes 0.45 3.53 0.05 0.16 0.01 2.12 0.00
SM24-721711 93.70 19.75 0.28 0.21 0.02 0.22 0.63 0.03
SM24-631727 33.00 48.35 0.32 0.20 0.02 0.07 0.40 0.02
Includes 1.50 1.42 0.09 0.03
SM24-665760 34.90 26.50 0.34 0.36 0.02 0.13 0.53 0.03
SM24-627794 35.45 18.80 0.56 0.22 0.03 0.56 0.66 0.02
Includes 1.95 2.29 0.36 0.10 0.27 2.57 0.01
Includes 1.00 1.29 0.26 0.08 0.03 1.64 0.02
SM24-771588 73.00 11.45 0.45 0.67 0.02 0.14 0.84 0.04
Includes 0.45 1.16 3.69 0.05 0.01 2.68 0.21
SM25-009620 33.75 69.75 0.56 0.46 0.03 0.14 0.92 0.03
Includes 1.00 1.00 0.70 0.05 0.04 1.75 0.08
Includes 0.80 1.02 0.63 0.04 0.60 1.73 0.05
Includes 0.75 1.27 0.25 0.07 0.04 1.99 0.03
Includes 0.70 1.11 1.16 0.05 0.05 1.76 0.05
Includes 0.85 1.27 0.26 0.06 0.1 1.45 0.04
Includes 1.00 1.24 0.35 0.05 0.05 1.61 0.02
Includes 0.50 2.57 0.17 0.13 0.02 1.96 0.02
Includes 2.10 2.29 0.50 0.13 0.08 2.19 0.03
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Sama's exploration and drill program for the Samapleu Nickel-Copper Sulphide
Project in Cote d'Ivoire was designed by Dr. Marc-Antoine Audet, P.Geo., Ph.D.,
and President and CEO of Sama. The technical information in this release has
been reviewed and approved by Dr. Audet 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 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.
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