Sama Resources Inc.
TSX VENTURE : SME

Sama Resources Inc.

August 12, 2014 07:00 ET

Sama Confirms Geological Model at Depth Intersecting 149 Metres of Mineralization Including; 9.2 Metres of 0.46% Nickel, 1.12% Copper and 1.11 gpt Palladium at Samapleu Cote d'Ivoire, West Africa

Highlights:

- Confirms pipe-like intrusion as a 1.6 kilometre long, large fold linking the Samapleu Main and the Extension 1 deposits and solidifies the geological model at depth

- Hole SM44-683140 returned 149 metres grading 0.30% nickel, 0.29% copper and 0.42 gpt palladium including; 9.2 metres grading 0.46% nickel, 1.12% copper and 1.11 gpt palladium

- Hole SM44-683140B, terminated in mineralization with a bottom intercept of 3.4 metres grading 1.12% nickel, 0.50% copper and 1.61 gpt palladium

- Individual grades of up to 6.55% copper, 3.20% nickel, 2.06% nickel were intersected in the first two holes at depth

MONTREAL, QUÉBEC--(Marketwired - Aug. 12, 2014) - (TSX VENTURE:SME). Sama Resources Inc./Ressources Sama Inc. ("Sama" or the "Company") is pleased to announce that the Company has confirmed the pipe-like intrusion as a 1.6 kilometre ("km") long, large fold linking the Samapleu Main and the Extension 1 deposits and solidifies the geological model at depth. In addition, exploration hole SM44-693140 intercepted a continuous mineralized zone of 149 metres ("m") grading 0.30% nickel 0.29% copper, 0.04% cobalt, 0.42 gram per tonne ("gpt") palladium at the Samapleu Main nickel-copper-palladium deposit in Côte d'Ivoire, West Africa.

The SM44-693140 interval started 347m from surface and included several semi-massive high grade sulphide lenses, including a 30m combined interval grading 0.50% nickel, 0.89% copper and 0.83 gpt palladium within intercepts of up to 2.06% nickel and 1.54% nickel.

"These impressive intercepts confirm the magnitude of the newly discovered system that form part of what we believe to be the next world class polymetallic district in West Africa", commented Dr. Marc-Antoine Audet, President and CEO of Sama. "This large pipe-like intrusion has strong similarities with other world class deposits such as Jinchuan (515 million tonnes ("Mt") at 1.06% nickel), Voisey Bay (137Mt at 1.68% nickel), Kabanga (52Mt at 2.65% nickel), Eagle (4.5Mt at 3.33% nickel), Eagle Nest (20Mt at 1.68% nickel) and Kalatongke (24Mt at 0.68% nickel)." Dr. Marc-Antoine Audet added.

Two additional boreholes were drilled in June-July 2014; SM44-683140B and SM34-626442. Both targeted strong Tri-dimensional Conductivity Depth Imaging ("CDI") targets. Hole SM44-683140B intercepted a total of 91m of mineralized pyroxenite with several semi-massive to massive sulphide stringers and lenses before been terminated within the mineralization due to maximum depth capability of our drill rig. Tenors of up to 6.55% copper and an interval of 3.4m grading 1.12% nickel, 0.50% copper and 1.61gpt palladium were intercepted at the bottom of the hole which suggest that the mineralization continued at depth. The hole will be deepened using a more powerful drilling rig in order to fully test the bottom of the pipe-like intrusion that forms the large fold and returns very strong conductivity responses over a strike length of 1.6km and links the Samapleu Main and the Extension 1 deposits.

Hole SM34-626442 is currently being assayed.

The current drilling program is targeting strong CDI targets generated from the Helicopter Electromagnetic survey (HTEM) in the vicinity of the Samapleu Main, Extension 1 and the Yepleu deposits. All high priority CDI's targets could be related to the presence of mineralization in various concentrations including semi-massive to massive lenses within what Sama believes to be the mineralized trend extending at depth and also laterally.

The table set out below shows the details for mineralized intercepts. Intercepts were defined using 0.1% nickel cut-off grades.

HOLE-ID FROM TO LENGTH Nickel Copper Cobalt Platinum Palladium
m m m % % % g/t g/t
Samapleu Main & Extension 1
SM44-693140 347.00 495.85 148.85 0.30 0.29 0.02 0.10 0.42
Including 347.00 356.20 9.20 0.46 1.12 0.02 0.11 1.11
Including 359.00 363.70 4.70 0.22 1.01 0.01 0.08 0.53
Including 368.85 369.90 1.05 1.54 0.82 0.06 0.23 1.72
Including 372.15 373.50 1.35 0.82 1.03 0.04 0.30 0.94
Including 408.60 409.10 0.50 2.06 1.30 0.08 0.17 3.54
Including 431.00 433.00 2.00 0.61 0.65 0.02 0.06 1.00
Including 435.00 436.00 1.00 0.70 0.53 0.03 0.11 0.9
Including 469.00 473.00 4.00 0.46 0.53 0.02 0.19 0.46
Including 480.00 485.00 5.00 0.36 0.54 0.02 0.14 0.42
Including 494.00 494.80 0.80 0.27 0.57 0.01 0.09 0.37
SM44-693140b 513.20 604.40 91.20 0.25 0.17 0.02 0.04 0.24
Including 513.95 514.25 0.30 0.19 6.55 0.01 0.16 1.99
Including 594.15 597.55 3.40 1.12 0.50 0.06 0.22 1.61

Readers are invited to click on following link to have access to Samapleu Main and Extension 1 deposit surface map showing boreholes location and on the three subsequent links for visualizing vertical cross-sections with geophysical targets and proposed borehole outlines.

http://www.samaresources.com/i/projects/samapleu/samapleu3Dmodel.png

http://www.samaresources.com/i/projects/samapleu/samapleumainsection619800.png

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.

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
    Tel: (514) 726-4158

    Mr. Matt Johnston
    Tel: (604) 443-3835
    Toll Free: 1 (877) 792-6688, Ext. 4