Sama Resources Inc.
TSX VENTURE : SME

Sama Resources Inc.

February 24, 2015 07:01 ET

Mineralized Surface Strike Length Increases by 70% at Sama's Samapleu Nickel-Copper-Palladium Project

MONTRÉAL, QUÉBEC--(Marketwired - Feb. 24, 2015) -

Highlights

  • Exploration contributes to a 70% increase in the surface strike length of the mineralization at Samapleu Extension 1 (compared to the results reported in Sama's NI 43-101 filed in August 2013) at the Samapleu nickel-copper-palladium project, Côte d'Ivoire
  • Initiating a 3,000-meter drilling program at Samapleu
  • Drill testing remains to be completed over approximately 1.3 kilometers of the surface exposure on the Samapleu Extension 1 pyroxenite host
  • Sama Resources to exhibit at the 2015 PDAC Investors Exchange, Toronto, Ontario - Booth 2623

Sama Resources Inc./Ressources Sama Inc. (TSX VENTURE:SME) ("Sama" or the "Company") today announced that 14 boreholes, representing 2,723 meters ("m"), drilled at the Samapleu Extension 1 nickel-copper-palladium deposit since the 2013 National Instrument ("NI") 43-101 mineral resource estimate, resulted in a 70% increase in the mineralized surface strike length. The surface strike length of the mineralization increased to more than 675 m from 390 m in August 2013. Approximately 1.3 kilometers of the surface exposure of the Samapleu Extension 1 pyroxenite host remains to be drill tested.

Table 1 details the mineralized intercepts for the 14 boreholes drilled on the area following the filing of the NI 43-101 in 2013. Intercepts were defined using 0.1% nickel cut-off grades.

Sama will be initiating a 3,000 m drilling program at the Extension 1 deposit at Samapleu with a view to increase the confidence level of the inferred mineral resource to the measured and indicated mineral resource category. A revised mineral resource will be performed following the completion of the proposed program. An updated NI 43-101 technical report is provisionally scheduled to take place following completion of the proposed program.

Table 1:
HOLE-ID FROM TO LENGTH Ni Cu Co Pd Pt AU
m m m % % % g/t g/t g/t
SM25-112519 22.00 144.00 122.00 0.44 0.32 0.03 0.94 0.17 0.04
including 2.90 1.00 1.89 0.04 2.01 0.22 0.06
including 11.00 1.89 0.78 0.09 2.84 0.31 0.08
146.50 179.75 33.25 0.15 0.02 0.01 0.09 0.02 0.00
SM25-112555 31.70 82.00 50.20 0.31 0.26 0.02 0.51 0.11 0.03
including 0.95 0.94 0.69 0.05 1.42 0.10 0.11
86.20 191.80 105.60 0.30 0.28 0.02 0.86 0.16 0.06
including 5.20 0.85 0.94 0.04 1.41 0.12 0.05
195.00 196.00 1.00 0.17 0.12 0.01 0.42 0.13 0.11
SM25-184483 42.50 59.50 17.00 0.51 0.40 0.03 0.83 0.15 0.02
including 5.55 0.90 0.79 0.04 1.40 0.21 0.03
62.50 65.25 2.75 0.29 0.33 0.02 0.47 0.17 0.04
70.20 159.05 88.85 0.21 0.12 0.02 0.38 0.12 0.02
SM25-256447 Drilled outside the deposit
SM25-274464 Drilled outside the deposit
SM25-256482 106.30 143.87 37.29 0.33 0.20 0.02 0.52 0.11 0.01
SM25-183519 57.60 152.65 94.63 0.26 0.18 0.02 0.51 0.14 0.05
154.80 188.00 33.20 0.16 0.04 0.01 0.18 0.08 0.01
SM25-133605 81.00 149.00 65.65 0.31 0.21 0.02 0.64 0.14 0.02
114.87 119.20 4.33 0.97 0.51 0.05 1.65 0.11 0.04
SM25-063682 71.00 81.45 10.45 0.37 0.29 0.02 0.59 0.21 0.04
including 1.10 1.34 0.73 0.06 2.21 0.16 0.12
90.20 180.60 90.40 0.23 0.12 0.02 0.31 0.10 0.02
SM25-096647 64.50 143.00 78.50 0.27 0.18 0.02 0.47 0.10 0.02
146.00 162.00 16.00 0.23 0.12 0.02 0.34 0.06 0.01
SM24-770735 180.35 190.15 9.80 0.20 0.22 0.01 0.36 0.06 0.02
200.50 249.00 45.50 0.18 0.10 0.01 0.20 0.05 0.01
317.80 352.45 34.65 0.27 0.28 0.02 0.49 0.10 0.02
SM25-148554 57.10 190.50 133.40 0.31 0.22 0.02 0.60 0.11 0.02
including 4.50 0.93 0.40 0.05 1.44 0.10 0.02
including 0.95 1.17 0.30 0.06 1.77 0.05 0.02
including 0.60 1.01 0.47 0.06 1.27 0.52 0.01
including 2.60 0.87 1.33 0.06 1.50 0.17 0.07
including 2.10 0.88 0.86 0.04 1.37 0.26 0.02
including 0.55 0.87 1.44 0.04 1.61 0.03 0.02
including 1.00 0.84 0.56 0.04 1.04 0.31 0.02
194.70 200.00 5.30 0.14 0.07 0.01 0.14 0.03 0.01
SM25-301375 Drilled outside the deposit
SM34-570407 290.30 291.30 1.00 0.52 0.49 0.10 0.00 0.00 0.00
294.40 328.50 34.10 0.22 0.23 0.09 0.00 0.00 0.00

Prospectors & Developers Association of Canada (PDAC) 2015

Sama is pleased to announce that that it will be exhibiting at the 2015 PDAC, taking place on March 1-4, 2015 in Toronto, Ontario. Dr. Marc-Antoine Audet will be available throughout the convention to answer questions and provide additional information regarding the Samapleu Project. All current and potential investors are invited to visit Sama representatives at booth 2623 in the Investors Exchange.

Qualified Persons Statement

The technical information in this release has been reviewed and approved by Dr. Marc-Antoine Audet, P.Geo, President and Chief Executive Officer, Sama and the Company's qualified person, as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects.

Readers are invited to visit the Company's website for an updated copy of the Sama's corporate presentation and additional details at

http://www.samaresources.com/i/pdf/Sama_Corporate_Presentation.pdf

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 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 vary or 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 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.

Contact Information

  • Sama Resources Inc ./ Ressources Sama Inc.
    Dr. Marc-Antoine Audet
    President and CEO
    (514) 726-4158

    Sama Resources Inc ./ Ressources Sama Inc.
    Mr. Matt Johnston
    (604) 443-3835 or Toll Free: 1 (877) 792-6688, Ext. 4