Sama Resources Inc.
TSX VENTURE : SME

Sama Resources Inc.

November 12, 2013 07:22 ET

Sama Resources Announces New Discovery of Nickel Sulphide Mineralization at Yepleu Project Cote d'Ivoire, West Africa

New Discovery Zone Confirms 2.8 kilometer InfiniTEM Anomaly at Yepleu Project with Drill Holes Intersecting Several Lenses of Semi-massive Sulphide Mineralization

Highlights

- Hole YE32-418407 intersected 41 meters of mineralized pyroxenite including 4.3 meters of combined lenses of semi-massive (30% to 70%) sulphide mineralization, starting 3 meters from surface.

- Hole YE32-418407B intersected 33 meters of mineralized pyroxenite including 4.0 meters of combined lenses of semi-massive (40% to 80%) sulphide mineralization, starting 3 meters from surface.

- The mineralized intercept is part of a 2.8 kilometer long InfiniTEM anomaly defined by Abitibi Geophysics in August 2013.

- Yepleu deposit is located 18 kilometers southwest of the Samapleu Nickel-Copper-Palladium Deposits.

- Drilling continues at the Yepleu Project using both of Sama's 100% owned Coretech CSD 1300G drill rigs.

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov. 12, 2013) - Sama Resources Inc./Ressources Sama Inc. ("Sama" or the "Company") (TSX VENTURE:SME) is pleased to announce a new discovery of nickel-copper sulphide mineralization at the company's Yepleu Project. The Yepleu Project is located 18 kilometers ("km") southwest of the Samapleu nickel-copper-palladium deposits at the southwest boundary of the Samapleu Project in Côte d'Ivoire, West Africa. Drill holes YE32-418407 and YE32-418407B intersected 41 meters ("m") and 36 m respectively of mineralized pyroxenite with disseminated chalcopyrite, pentlandite and pyrrhotite sulphides including a combined 4.3 m and 4.0 m respectively of semi-massive sulphide mineralization at the Yepleu Project. The mineralized intersects are related to a 2.8 km InfiniTEM ground geophysical conductor lineament outlined by Abitibi Geophysics in August 2013.

The reader is invited to view the figure showing the highly prospective InfiniTEM targets together with the location of current drill holes at www.samaresources.com/i/projects/samapleu/Yepleu_drilling_update_Nov_12.png.

Sama Resources President & CEO Dr. Marc-Antoine Audet states: "We are very pleased about this new discovery. It's a clear indication that Sama's geological model applied since its inception in 2010 is the right one. These results further confirm Sama's belief of having discovered a new world-class nickel-copper-palladium camp in Côte d'Ivoire, West-Africa."

The disseminated mineralization is typically characterised by fine isolated grains to large granular aggregates of nickel, copper and iron sulphides. Sulphide phases observed so far include pyrrhotite, chalcopyrite, pentlandite and minor pyrite. Pentlandite occurs as inclusions in pyrrhotite. Disseminated sulphide occurs as fine grains of 0.5 to 1 millimetre in diameter, showing a high ratio of pyrrhotite versus chalcopyrite. Sulphide veinlets and fine filaments are also present. Composite grains of sulphide material are dominant, forming sulphide masses of odd shapes ranging from a few millimetres up to several centimetres in any one dimension. The semi-massive mineralization lenses show between 30% to 70% sulphide minerals.

Drilling continues at the Yepleu Project using both of Sama's 100% owned Coretech CSD 1300G drill rigs.

The purpose of the InfiniTEM surveys was to delineate semi-massive and massive material at depths of up to 500 m and to compliment the results of the Helicopter Time-Domain Electromagnetic & Magnetic ("HTEM") airborne survey performed in January of this year.

Surface sampling activities undertaken by the Company over the past several months have outlined the very high potential of the sector with surface showings with visible chalcopyrite and pentlandite.

Detailed geophysical interpretation of the airborne HTEM Survey has identified more than 20 high priority targets for nickel-copper-palladium exploration. Strong HTEM survey conductors were identified at the Samapleu Main and Samapleu Extension 1 nickel-copper-palladium deposits as well as along a corridor of more than 25 km oriented northeast-southwest. The Yepleu Project is just one of them.

The HTEM Survey clearly demonstrates the discovery potential for additional nickel-copper sulphide deposits.

The reader is invited to view the figure showing the highly prospective regional HTEM targets: www.samaresources.com/i/projects/samapleu/Samapleu_Yepleu_HTEM_Targets.png.

Core logging and sampling was performed at Sama's facility in Yorodougou village. Sample preparations for the nickel-copper sulphide exploration program were performed at Société de Développement de Gouessesso's sample preparation facility in Gouessesso village under Sama's supervision. Sample pulps will be delivered to Bureau Veritas Mineral Laboratory's facility in Abidjan ("BVML") for dispatch by BVML directly to their assay laboratory, Ultra Trace Pty, in Perth, Australia. All samples will be assayed for nickel, copper, platinum, palladium, cobalt, rhodium and gold. The results should be available in approximately 4 weeks.

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 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 or Toll Free: 1 (877) 792-6688, Ext. 4
    (604) 682-3860 (FAX)
    www.samaresources.com