Sama Resources Intersects 20.65 Metres at 1.17% Nickel Copper at its Samapleu Extension 1 Deposit
24.10.2011 | Marketwire
VANCOUVER, BRITISH COLUMBIA -- (Marketwire - Oct. 24, 2011) - (TSX VENTURE:SME) Sama Resources Inc. ("Sama" or the "Company") is pleased to announce assay results for 15 holes drilled at the Company's "Sipilou South nickel-cobalt rich laterite deposit", as well as 17 holes drilled at both the "Samapleu Main poly-metallic deposit" and "Samapleu Extension 1 poly-metallic deposit". All of these deposits are within the Samapleu exploration license located in western Côte d'Ivoire, Africa.Samapleu Nickel-Copper Sulphide Project, Côte d'Ivoire
Assay results for 8 holes drilled at the Samapleu Main poly-metallic deposit have been received. Although drilling on a 50 metre ("m") by 25 m grid has been completed for the shallow part of the deposit, 2 additional holes will shortly be drilled at the deposit in order to accurately model the geometry of 1 of the main sulphide massive veins.
Assay results for 9 holes drilled at the newly discovered Samapleu Extension 1 poly-metallic deposit have been received. The Samapleu Extension 1 poly-metallic deposit is located 1.3 kilometres ("km") north of the Samapleu Main poly-metallic deposit. Table 1 below shows combined mineral intercepts for the new holes.
Additional metallurgical tests are ongoing at Société Générale de Surveillance of Vancouver, BC, in order to test the upgrading ability of the disseminated mineralized material prior to going for flotation.
Sipilou South Nickel-Cobalt Laterite Deposit, Côte d'Ivoire
In June 2011, the Company started a 58-hole drill program of approximately 1,500 m at its Sipilou South nickel-cobalt rich laterite deposit, which is aimed at closing the drill spacing down to a grid of 200 m by 200 m. Assay results for 15 holes have been received. Several of the 15 holes were drilled to test the western boundary of the Sipilou South nickel-cobalt rich laterite deposit. The remaining 35 holes are currently being drilled and results are expected in mid December 2011.
The Sipilou South nickel-cobalt rich laterite deposit is located approximately 5 km northeast of the Company's Samapleu Main and Samapleu Extension 1 nickel, copper and platinoids deposits. Table 2 below shows combined mineral intercepts for the new drill holes.
"These results continue to expand the Company's potential for commodities, nickel-copper sulphides, as well as surface nickel-cobalt laterites," stated Dr. Marc-Antoine Audet, Sama's President and Chief Executive Officer. He added, "Our goal is to become the first poly-metallic producer in the region alongside SODEMI [Société pour le Développement Minier de Côte d'Ivoire]."
Readers are invited to visit Sama's website at: (http://www.samaresources.com/i/pdf/Sama_Corporate_Presentation.pdf) for a complete update on Sama's current drilling campaign.
Table 1: Combined new mineral intercepts for the reported 17 holes drilled at the Samapleu Main poly-metallic deposit and the Samapleu Extension 1 poly-metallic deposit. Combined downhole mineral intercepts were defined using 0.20% nickel cut-off grades.
HOLE-ID Start From Total Downhole Thickness of
Mineralization Ni Cu Co Pt Pd Au
m m % % % gr/t gr/t gr/t
New Interceptions
Samapleu Main
SM44-491136 33.50 29.40 0.33 0.20 0.02 0.20 0.44 0.02
SM44-441148 61.00 21.50 0.30 0.26 0.02 0.06 0.20 0.03
SM44-404153 20.15 38.15 0.34 0.29 0.02 0.08 0.23 0.02
SM44-424210 59.00 7.00 0.37 0.30 0.02 0.08 0.25 0.02
SM44-698307 45.50 27.50 0.27 0.11 0.02 0.17 0.54 0.04
SM44-660272 47.50 43.25 0.29 0.17 0.02 0.06 0.40 0.02
includes 0.50 1.12 0.31 0.04 0.07 1.85 0.06
includes 0.45 1.57 0.42 0.07 0.19 2.75 0.03
SM44-636270 75.00 26.95 0.34 0.23 0.02 0.17 0.66 0.04
SM44-620315 25.70 42.50 0.34 0.26 0.02 0.11 0.40 0.04
includes 0.25 2.86 2.35 0.12 0.02 4.08 0.04
includes 0.60 1.75 0.68 0.07 0.05 1.72 0.18
includes 0.80 1.27 0.59 0.06 0.32 1.05 0.02
Samapleu Ext 1
SM24-736697 NSR
SM24-699656 46.65 8.65 0.41 0.47 0.02 0.12 0.88 0.06
SM25-300360 NSR
SM34-070500 29.00 9.10 0.29 0.22 0.02 0.07 0.23 0.04
SM24-699656b 52.50 47.50 0.26 0.16 0.02 0.24 0.81 0.02
includes 0.80 2.02 1.19 0.09 0.15 3.79 0.08
SM24-628651b 42.80 1.20 0.21 0.08 0.02 0.05 0.47 0.00
SM24-664688 39.00 37.80 0.34 0.26 0.02 0.11 0.60 0.02
includes 0.50 2.31 1.45 0.10 0.02 2.34 0.05
includes 0.30 1.40 1.02 0.07 0.02 1.40 0.02
SM24-679708 45.50 20.65 0.64 0.53 0.04 0.08 0.94 0.02
includes 1.00 1.22 1.72 0.06 0.03 2.19 0.08
includes 1.00 1.01 0.24 0.05 0.03 1.43 0.03
includes 0.80 1.79 0.45 0.09 0.03 2.34 0.01
includes 1.00 1.37 0.75 0.06 0.10 1.79 0.01
includes 1.00 1.08 1.03 0.05 0.09 1.58 0.04
includes 0.90 1.39 0.91 0.07 0.32 1.90 0.04
SM24-645670 30.70 11.80 0.55 0.31 0.03 0.11 0.81 0.03
includes 1.53 0.56 0.08 0.23 2.56 0.03
Table 2: Mineral intercepts for the 15 additional holes drilled at Sipilou South nickel rich laterite deposit. Intercepts were defined using a 1.0% nickel cut-off grade.
Borehole Assay Results Using
1.0% Nickel ("Ni") Cut-off Grade
SS44-400400 7.50m @ 1.15% Ni
SS44-200600 6.50m @ 1.26% Ni
SS44-200200 6.00m @ 2.08% Ni
SS44-400200 2.35m @ 1.28% Ni
SS44-400600 2.10m @ 1.20% Ni
SS53-800400 laterite with < 1.0% Ni
SS54-400400 laterite with < 1.0% Ni
SS44-400800 laterite with < 1.0% Ni
SS44-800600 Outside deposit
SS43-800200 Outside deposit
SS44-040405 Outside deposit
SS43-800600 Outside deposit
SS43-800800 Outside deposit
SS53-800200 Felsic material
SS44-600400 Felsic material
Gangbapleu Target
Excellent regional targets have been identified, including the "Gangbapleu Target", along the 19 km-long Gangbapleu-Bounta ridge that hosts several mafic and ultramafic bodies.
Four exploratory holes were drilled at the Gangbapleu Target in order to test the source of the strong induced polarization geophysics chargeability response. Three holes missed the target, while 1 hole intersected weakly mineralized pyroxenite with mineralization composed mostly of pyrrhotite and traces of chalcopyrite. Mineralogical and petrological detailed investigations are ongoing, while more structural work is needed to understand what appears to be a fairly complex geological structural setting.
Drilling was performed by Global Exploration Services SARL of Abidjan, Côte 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 Société de Développement 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 were assayed for nickel, copper, cobalt, iron, sulphur, platinum, palladium, rhodium and gold using sodium peroxide fusion and determined by inductively coupled plasma optical emission spectrometry. All samples for the nickel-cobalt laterite program were delivered to BVML for sample preparation and then dispatched to Ultra Trace Pty in Perth, Australia. All samples were assayed for nickel, cobalt, scandium and all major oxides using peroxide fusion XRF.
The Samapleu nickel-copper sulphide project in Côte d'Ivoire is currently in its exploration phase. Future production will be managed by a joint venture controlled 66Γàö% by Sama Nickel Corporation, a wholly-owned subsidiary of the Company, and 33Γàô% by SODEMI. The exploration licenses for the Lola Project in Guinea are exclusively held by a wholly-owned branch office of Sama.
This News Release was prepared by Dr. Marc-Antoine Audet, P.Geo, President and CEO of Sama, and a Qualified Person under National Instrument 43-101, Standards of Disclosure for Mineral Projects.
For further 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 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.
NR 2011-19
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.
Contact Information
Sama Resources Inc.
Dr. Marc-Antoine Audet
President and CEO
(514) 726-4158
www.samaresources.com
Brisco Capital Partners Corp.
Scott Koyich
Investor Relations
(403) 262-9888
scott@briscocapital.com
Brisco Capital Partners Corp.
Graeme Dick
Investor Relations
(403) 262-9888
graeme@briscocapital.com.