Sama Resources Inc.
TSX VENTURE : SME

Sama Resources Inc.

June 06, 2013 07:00 ET

Sama Resources Announces Discovery of Mineralized Surface Showings Grading up to 1.39% Nickel and 2.26% Copper 18 KM SW of Samapleu

Highlights:

- Very aggressive regional exploration for additional massive sulfide occurrences has commenced testing numerous high quality HTEM targets.

- A new prospect has been discovered 18 km southwest of Samapleu Deposits with surface showings grading up to 1.39% nickel and 2.26% copper.

- Detailed geological area mapping of the new surface discovery is underway and drilling to commence shortly.

VANCOUVER, BRITISH COLUMBIA--(Marketwired - June 6, 2013) - Sama Resources Inc. ("Sama" or the "Company") (TSX VENTURE:SME) is pleased to announce the discovery of mineralized surface showings grading up to 1.39% nickel and 2.26% copper sulphide (tested using a hand-held Niton XRF analyzer) located 18 kilometres southwest of the Samapleu nickel-copper Deposit. The discovery outcrop shows up to 25% disseminated sulphide mineralization in mafic and ultramafic rocks and strong mineralization is seen on 2 more outcrops for a 25-metre strike length. A possible extension of the new showing was discovered 700 metres to the east where several boulders of mafic and ultramafic rocks show disseminated sulphide mineralization grading up to 0.20% nickel and 0.49% copper (tested using a Niton XRF analyzer).

This new mineralized sector was discovered while validating a proposed drilling location as follow-up on one of the numerous airborne helicopter time domain electromagnetic and magnetic survey (the "HTEM Survey") proposed targets. The HTEM Survey was performed earlier this year.

Detailed geological area mapping of the new surface discovery is underway and drilling to commence shortly.

The hand-held Niton XRF analyzer provides assay readings for a wide range of metallic elements including nickel and copper. Sample readings are made at surface through a window of a few square millimetres. Several readings are used to generate an averaged value. Reported values obtained using the Niton XRF analyzer are being used only for exploration planning.

The table below details individual readings and means for all Niton XRF measurements taken at the Yepleu surface showings.

Reading No Duration (seconds) Ni% Cu% Fe%
1010 33,08 0,32 0,66 11,59
1011 30,36 0,38 1,22 10,52
1012 30,2 1,15 2,11 12,58
1013 30,15 0,57 1,54 11,57
1014 30,06 1,43 3,30 13,83
1015 30,22 0,88 2,15 12,55
1016 30,5 0,84 2,76 11,59
1017 30,56 1,02 2,78 12,97
1018 41,02 1,13 2,55 14,94
1019 30,64 1,22 3,58 12,14
Mean 0,89 2,26 12,43
1026 30,34 0,43 0,54 8,51
1027 30,41 1,80 2,10 17,94
1028 30,18 1,56 1,69 14,99
1029 30,22 0,78 0,57 12,38
1030 30,02 1,12 0,92 14,05
Mean 1,14 1,17 13,57
1031 30,37 0,96 1,09 13,77
1032 30,4 1,06 0,57 13,98
1033 30,09 0,56 0,59 9,41
1034 30,59 2,98 1,52 17,94
1035 30,47 1,39 1,96 18,03
Mean 1,39 1,15 14,62
1036 30,11 0,05 0,10 1,78
1037 30,05 0,05 0,10 3,01
1038 30,26 0,02 0,01 2,23
1039 30,01 0,13 0,29 5,70
1040 30,35 0,03 0,04 2,58
Mean 0,06 0,11 3,06
1042 30,44 1,24 0,27 11,29
1043 30,23 1,30 0,27 12,01
1044 30,13 0,36 0,31 8,71
1045 30,11 1,18 0,34 17,71
Mean 1,02 0,29 12,43
1047 30,36 0,31 0,35 7,51
1048 30,03 1,06 0,57 16,02
1049 30,36 0,84 1,06 14,65
1050 30,13 1,42 0,90 15,76
1051 30,51 1,46 0,78 18,26
Mean 1,02 0,73 14,44

Ongoing Regional Exploration

The detailed geophysical interpretation of the recently completed 3,300 line/kilometre HTEM Survey over part of the Company's Samapleu Exploration License has returned more than 20 high quality targets for nickel-copper exploration. Strong HTEM Survey conductors were identified at the Samapleu Main and Samapleu Extension 1 Deposits and along a corridor of more than 25 kilometres oriented northeast-southwest. The Samapleu Project represents a cluster of differentiated intrusions with mineralization typical of magmatic nickel-copper analogous to well known world-class deposits; Noril'sk, Kabanga, N'Komatie, etc.

To date, exploration at the Samapleu Project has focused mainly on shallow targets (< 150 metres deep) at the Samapleu Main and Samapleu Extension 1 Deposits, returning centrally located massive sulphide vein stockworks encased in a thick halo of disseminated sulphide. Nickel and copper tenors of up to 4-5% and 6-8%, respectively, were obtained in massive sulphide material. The HTEM Survey clearly demonstrates the discovery potential for high grade, massive nickel-copper sulphide deposits.

The reader is invited to view the figure showing the highly prospective HTEM Survey targets, together with the location of the mineralized showing athttp://www.samaresources.com/i/projects/samapleu/Samapleu_compilation.png.

The Samapleu Project

The Samapleu Project is currently in a relatively advanced exploration phase. Future exploitation will be managed by a joint venture currently controlled 66 2/3% by Sama Nickel Corporation, a wholly-owned subsidiary of the Company, and 33 1/3% by Société pour le Développement Minier de Côte d'Ivoire.

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.

The reader is invited to review Sama's updated compilation on its website at http://www.samaresources.com/i/pdf/Sama_Corporate_Presentation.pdf for more details.

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.

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

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