Sama Resources Inc.

TSX VENTURE : SME


Sama Resources Inc.

March 24, 2014 07:00 ET

Sama Completes Downhole Geophysics on Five Drill Holes at Yepleu and Samapleu Deposit; Strong EM Targets Have Been Generated

VANCOUVER, BRITISH COLUMBIA--(Marketwired - March 24, 2014) - Sama Resources Inc./Ressources Sama Inc. (TSX VENTURE:SME) ("Sama" or the "Company") is pleased to announce the completion of the Downhole Electromagnetic Geophysical ("DHEM") survey on five (5) holes at the Samapleu and newly discovered Yepleu nickel-copper-palladium Deposits in Côte d'Ivoire, West Africa.

Abitibi Geophysics Inc. from Val d'Or in Canada performed the survey and the interpretation is performed by Mr. Daniel Card, Senior Geophysicist for Southern Geoscience Consultants, Australia.

Three holes were surveyed at the Yepleu deposit, one hole at the Samapleu Main and one hole at the Samapleu Extension 1 deposits.

Preliminary inspection of the data indicate strong Electromagnetic ("EM") responses on all holes surveyed. Detailed interpretation and modelling is in progress for the following geophysical anomalies:

Hole Location Response: Depth from surface in meters ("m")
SM34-570407 Extension 1 - EM anomaly at around 280-320 m
SM44-525290 Samapleu Main - EM anomaly at around 150 m
YE31-637117 Yepleu - EM anomaly at around 120 m
YE31-694543 Yepleu - EM anomaly at around 160 m
YE23-398223 Yepleu - EM anomaly at around 40 m

"The survey was performed extremely well by Abitibi Geophysics," stated Dr. Marc-Antoine Audet, President and CEO. "We look forward to some very good drilling targets from the modelling." "We are working on this as top priority," added Mr. Card, Senior Geophysicist for Southern Geoscience Consultants.

The Yepleu discovery is located 18 kilometers ("km") southwest of the Samapleu nickel-copper-palladium deposits. Regional geological mapping has identified that the geological host of the newly discovered Yepleu nickel-copper-palladium mineralization extends beyond the original 3 km by 600 to 800m to an area as vast as 6 km x 4 km (Refer to News Release dated February 03, 2014).

A total of 18 diamond drilling holes for 3,320m were drilled at the Yepleu discovery testing the large sub-horizontal mineralized layer associated with pyroxenite, gabbro-norite and diorite units been part of the newly identified and described Yacouba Layered Complex (Gouedji et al., submitted to Bulletin de la Société Géologique de France (BSGF), January 24, 2014). Exploration results for all drilled holes at Yepleu will be announced in a subsequent press release.

Exploration Model and Targets

Exploration to date has focused mostly on shallow targets (<150m) at the Samapleu and Yepleu deposits. Sama believes that mineralization at the Samapleu deposits could plunge deeper and could extend laterally as suggested by responses obtained from the Helicopter Electromagnetic survey completed in January 2013 and by the current DHEM survey.

At Yepleu, the Company is chasing embayments or structural features that would have trapped mineralised pyroxenite within the sub-horizontal layered complex assemblage.

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

For more details, the reader is invited to review Sama's updated compilation on its website 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
    www.samaresources.com