Sama Resources Inc.

TSX VENTURE : SME


Sama Resources Inc.

March 25, 2014 07:00 ET

Sama Resources Announces Samapleu and Yepleu Ni-Cu-Pd Deposits are Pipe-like Intrusions hosted within the Newly Discovered Yacouba Layered Complex, similar to Voisey's Bay, Jinchuan and N'komati

Sama Announces Results for the first 18 drill holes drilled at Yepleu

MONTREAL, QUÉBEC--(Marketwired - March 25, 2014) - Sama Resources Inc./Ressources Sama Inc. (TSX VENTURE:SME) ("Sama" or the "Company") is pleased to announce that the Samapleu and the newly discovered Yepleu nickel-copper-palladium deposits are hosted within a newly identified large anorthositic and dioritic layered complex (the "Yacouba Layered Complex") in Côte d'Ivoire, West Africa.

Sama's newly discovered Yacouba Layered Complex, which hosts the Samapleu and Yepleu nickel-copper-palladium deposits, sits in a favorable geodynamic position at the eastern edge of the West African Archaean craton in the vicinity of the major Sassandra fault system.

Members of the Yacouba Layered Complex have been identified at surface over a corridor of approximately 10 kilometers ("km") wide by 25 km long. Additional work is required to identify the full extent of this new layered complex on a regional basis.

The Samapleu (subject to Sama's fully funded 3 year PhD program with University of Franche Comté, France) and Yepleu deposit's mineralization and geological characteristics are typical of a layered Pipe- like Intrusion or conduit‐hosted nickel deposits.

These rare type of intrusions host the world's largest nickel-copper deposits like 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; Kalatongke, 24Mt at 0.68% nickel and N'komati 2.8Mt at 2.08% nickel.

Geo-chronological data (PhD Thesis in progress- article submitted to Bulletin de la Société Géologique de France (BSGF), January 24, 2014) indicate that the Yacouba's mafic and ultramafic hosts were intruded within the older gneissic assemblage at a Proterozoic age of 2.09 Ga (U-Pb, measured on rutile).

It's interesting to note that the age of 2.09 Ga for the Yacouba Layered Complex is almost the same as the large and mineral rich South-African Bushveld complex 2.06 Ga host of the Ivanhoe's large Flatreef palladium-nickel deposit and numerous other chromite Platinum Group Elements ("PGE") deposits and surrounding N'Komati nickel-copper-palladium deposit, 2.04 Ga.

Samapleu and Yepleu deposits are typical magmatic nickel-copper-palladium deposits with common metallurgical characteristics. Nickel and copper mineralization (pentlandite, chalcopyrite, combined with pyrrhotite, rarely pyrite) correspond to sulphide disseminations ranging from trace to 40% and semi-massive to massive (40% to 100% sulphides) sulphide rich lenses most often spatially associated with highly breccia texture in pyroxenites.

Semi-massive and massive sulfide veins display a number of characteristics suggesting they are part of a larger mineralizing system:

  1. Extreme variations in nickel:copper ratio indicative of fractionation of sulphides.
  2. Association with varied textured and brecciated facies.
  3. Presence of an unusual texture called loop texture. Large pyrrhotite crystals (5cm in diameter) are rimmed by smaller chalcopyrite and pentlandite that define a loop that encloses the pyrrhotite. These textures are seen at Norilsk and Voiseys Bay nickel-copper-palladium deposits.
  4. Abundant sulfide inclusions (globules) within pyroxene crystal indicating sulfur (S) saturation took place before pyroxene crystallization (at depth).

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 structural features that would have trapped mineralized pyroxenite within the sub-horizontal large layered complex.

Yepleu drilling program and results

The Yepleu discovery is located 18 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).

Tables 1 and 2 below summarizes mineral intersections for each hole drilled at the Yepleu discovery. Drilling is performed using the Company's 100% owned Coretech CSD 1300G drill rigs.

Intercepts were defined using 0.1% nickel cut-off grades for 6 holes which samples were sent for assays through Veritas Laboratory in Abidjan (refer to News Release dated January 14, 2014). For the other 12 holes, mineral intersects are reported as visual estimates of sulphide content and in some cases with nickel and copper values obtained using the hand held Niton XRF analyser ("Niton").

Core logging and sampling was performed at Sama's facility in Yorodougou village. Sample preparations were performed at Société de Développement de Gouessesso's sample preparation facility in Gouessesso village under Sama's supervision. Sample pulps were delivered to Bureau Veritas Mineral Laboratory's facility in Abidjan ("BVML") and then dispatched by BVML directly to their assay laboratory, Ultra Trace Pty, in Perth, Australia. All samples were assayed for nickel, copper, cobalt, platinum,palladium and Gold.

The Niton provides assay readings for a wide range of metallic elements including nickel and copper. Readings are made through a window measuring a few square millimeters through the plastic bag of the pulverised and homogenized (-100 mesh) sample. Several readings are used to generate an averaged value. Reported values obtained using the Niton are being used only for exploration planning.

Table 1: Dill Intercepts defined using 0.1% nickel cut-off grades.

HOLE-ID FROM TO LENGTH Nickel Copper Cobalt Platinum Palladium
M m m % % % gpt gpt
YE23-580042 40.15 52.65 11.48 0.46 0.34 0.02 0.14 0.04
66.05 72.30 6.25 0.23 0.21 0.01 0.12 0.06
YE23-580037 37.00 51.50 14.50 0.46 0.27 0.02 0.14 0.06
Including 0.80 1.20 0.82 0.04 0.19 0.02
66.00 72.00 6.00 0.22 0.22 0.01 0.08 0.03
YE32-418407A 8.00 23.45 15.45 0.17 0.06 0.01 0.07 0.03
Including 0.20 1.52 0.13 0.07 0.41 0.00
26.15 48.00 21.85 0.42 0.23 0.02 0.12 0.03
Including 0.60 1.20 0.16 0.06 0.41 0.02
Including 1.15 1.19 0.10 0.07 0.18 0.01
Including 2.45 1.06 0.24 0.05 0.30 0.02
YE32-418407B 3.00 36.05 33.05 0.28 0.15 0.02 0.12 0.04
Including 0.85 1.14 0.51 0.07 0.20 0.04
Including 0.80 1.04 1.02 0.06 0.19 0.01
Including 0.35 1.16 1.45 0.06 0.28 0.68
YE32-418407C 3.00 34.00 31.00 0.24 0.16 0.01 0.11 0.04
Including 0.55 1.56 0.92 0.07 0.25 0.10
Including 0.55 1.12 0.19 0.06 0.20 0.00
Including 0.55 1.30 1.12 0.06 0.19 0.00
YE32-390423 6.00 16.20 10.20 0.24 0.11 0.02 0.12 0.14
21.50 53.50 30.60 0.26 0.13 0.02 0.08 0.05
Including 0.30 1.15 0.26 0.06 0.28 0.01
Including 1.00 1.00 0.19 0.05 0.14 0.01
57.00 59.00 2.00 0.44 0.17 0.03 0.07 0.01
Including 0.20 1.57 0.33 0.07 0.25 0.01
63.50 65.00 1.50 0.17 0.21 0.01 0.03 0.00

Table 2: Preliminary mineral intersects are reported as visual estimates of sulphide content and in some cases with nickel and copper values obtained using the hand held Niton.

HOLE-ID FROM TO Length FROM TO Length Nickel (Niton) Copper (Niton)
m m m Visible sulphide content m m m % %
YE23-367542 17.35 20.00 2.65 Trace to 1% Not sampled
YE23-376490 74.00 80.00 6.00 5% to 35% 72.50 79.00 6.50 0.36 0.29
YE32-351140 8.20 16.85 8.65 3% to 50% 8.20 13.70 5.50 0.40 0.34
YE30-519152 95.10 160.60 65.50 1% to 10% Not sampled
YE24-428631 31.25 33.75 2.50 3% to 30% 31.25 33.00 1.75 0.50 0.32
YE23-571625 71.10 74.50 3.40 5% to 40% 71.10 74.50 3.40 0.61 0.29
YE24-212764 33.90 51.85 17.95 1% to 80% 33.90 46.65 12.75 0.37 0.30
47.95 51.60 3.65 0.25 0.17
YE31-285034 70.15 78.70 8.55 1% to 30% 70.15 72.00 1.85 0.29 0.26
YE14-357585 15.80 107.75 91.95 Trace to 1% Not sampled
YE31-637177 120.85 121.80 0.95 45% to 50% Sample preparation and Niton assaying in progress
YE31-694543 168.40 175.65 7.25 3% to 50% Sample preparation and Niton assaying in progress
YE23-398223 43.20 46.54 3.34 10% to 40% Sample preparation and Niton assaying in progress
75.87 77.67 1.80 5% to 10%

Out of the 18 drill holes drilled, 2 holes were terminated short due to technical problems; YE23-580042 and YE23-367542.

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