Sama Resources Inc.
TSX VENTURE : SME

Sama Resources Inc.

April 20, 2015 07:01 ET

Sama Intersects 8.0 Metres of Massive Sulphide Grading 4.08% Nickel, 2.43% Copper and 2.92 g/t Palladium at Samapleu

Ivorian Department of Mines to Extend Samapleu Exploration Permit until 2017

VANCOUVER, BRITISH COLUMBIA--(Marketwired - April 20, 2015) - Sama Resources Inc./Ressources Sama Inc. (TSX VENTURE:SME) ("Sama" or the "Company") today announced the intersect of a combined 8.0 meters ("m") of nickel-copper-palladium rich massive sulphide (57.65 m to 60.55 m and 62.90 m to 68.00 m) within a 54-meter mineralised pyroxenite intersect at the Company's Samapleu Project, Côte d'Ivoire, West Africa. The tip of this remarkable intercept area is situated just 11 m vertically below the surface.

Highlights

  • Hole SM44-428267 intersected 54 m of mineralized pyroxenite, grading 0.96% nickel, 0.76% copper and 0.74 g/t palladium, including a combined 8.0 m of massive sulphide grading 4.08% nickel, 2.43% copper and 2.92 g/t palladium at the Samapleu Main deposit.

  • Ongoing infill drilling at the Samapleu Main and Extension 1 deposits using both of Sama's 100% owned Coretech CSD 1300G drill rigs.

The current drilling program is part of a 3,000-to-4,000-meter infill-drilling program aimed at reducing drill spacing and increasing the strike length of the already known mineralisation at the Samapleu Main and Extension 1 deposits. An updated NI 43-101 technical report is provisionally scheduled to take place following completion of the proposed program, in the second half of 2015.

A second borehole SME25-133537 drilled at the Samapleu Extension 1 deposit intersected 33 m of mineralized pyroxenite with disseminated to semi-massive accumulations of chalcopyrite, pentlandite and pyrrhotite sulphides including a combined 5.05 m of semi-massive sulphide mineralization.

The massive sulphide mineralization is characterised by large granular aggregates of nickel, copper and iron sulphides, named pentlandite, chalcopyrite and pyrrhotite respectively. Pentlandite occurs together with pyrrhotite, while the chalcopyrite, being the third mineral of global abundance, appears either mixed with the pentlandite or as late sulfide centimetric veins crosscutting the pentlandite-pyrrhotite material.

Contacts between the massive sulphide lenses and the mineralised pyroxenite host are irregular, but sharp with brecciated textures, indicating that the massive sulphide material has intruded the pyroxenite host.

Hole SM44-428267 and SM25-133537 Assay Results (Intercepts were defined using 0.1% nickel cut-off grades).

HOLE-ID FROM TO LENGTH Nickel Copper Cobalt Platinum Palladium
m m m % % % gr/t gr/t
Samapleu Main
SM44-428267 15.00 68.90 53.90 0.96 0.76 0.04 0.09 0.74
Including 57.65 60.55 2.90 4.45 2.20 0.16 0.01 3.08
Including 62.90 68.00 5.10 3.87 2.56 0.14 0.03 2.83
Samapleu Extension1
SM25-133537 30.00 63.00 33.00 0.38 0.31 0.02 0.12 0.63
Including 32.45 36.65 4.20 1.13 1.03 0.05 0.43 1.73
44.85 45.70 0.85 1.22 0.35 0.05 0.16 1.80

According to Sama's geological model these holes were planned to intersect mineralization as perpendicular as possible to the general strike and dip. True widths are not known at this time.

Core logging and sampling was performed at Sama's facility in Yorodougou village. Sample preparations were performed at the Bureau Veritas Mineral Laboratory's facility in Abidjan. Sample pulps were delivered to Activation Laboratories Ltd, Ancaster, Thunder bay, Canada, for assaying. All samples were assayed for Ni, Cu, Co, Pt, Pd, Au, Fe and S.

Extension of Samapleu Exploration Permit (PR 123)

On March 5, 2014, Parliament of Côte d'Ivoire adopted a new mining code, which aims to update its mining legislation so as to render it consistent with current best practices and attract mining investment into its burgeoning mining sector, modernizing the mining sector and increasing transparency.

Accordingly, the mining ministry has agreed to authorise a two-year extension of Sama's Samapleu exploration permit, until October 2017. Sodemi/Sama will submit a renewal request in due course, as per normal procedures.

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.
    Dr. Marc-Antoine Audet
    President and CEO
    (514) 726-4158

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