Sama Resources Inc.

Sama Resources Inc.

September 25, 2015 07:01 ET

Sama Resources Announces Yacouba Layered Complex Almost Triples in Size and Withdraws Preliminary Short Form Prospectus

- Borehole YE16-390480 intercepts diorite to significantly increase the size of the Yacouba Layered Complex at the Yepleu target

- Exploration work including surface geophysics and drilling, targeting massive sulphides at Yepleu to resume in September

MONTREAL, QUEBEC--(Marketwired - Sept. 25, 2015) - Sama Resources Inc./Ressources Sama Inc. (TSX VENTURE:SME) ("Sama" or the "Company") today announced that recent exploration results confirm the sub-horizontal nature of the Yacouba Layered Complex intrusion packages in the Yepleu sector over a much larger area then initially interpreted, increasing the size from 25 km2 to more than 70 km2. Sama's single shallow borehole (YE16- 390480) drilled one kilometer north of the Yepleu area intercepted a diorite unit of interpreted magmatic origin carrying finely disseminated sulphide mineralization including pyrrhotite and chalcopyrite, thereby confirming the presence of the Yacouba Layered Complex at the location. Sampling for mineralogical and petrological studies is ongoing.

Drilling at Samapleu

Seven drill holes were drilled as part of an infill-drilling program aimed at reducing drill spacing and increasing the strike length of the already known mineralization at the Samapleu Main and Extension 1 deposits. Results received to date are detailed in Table 1 below. Several assays remain pending.

The massive and semi-massive sulphide mineralization of boreholes SM44-428267 and SM25-133537 (See press release dated April 20, 2015) 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 mineralized pyroxenite host are irregular, but sharp with brecciated textures, indicating that the massive sulphide material has intruded the pyroxenite host originating from a source that is yet to be discovered.

Table 1: 2015 Drill Results - Mineralized Intercepts (Intercepts were defined using 0.1% nickel cut-off grades).

m m m % % % gr/t gr/t
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
including 44.85 45.7 0.85 1.22 0.35 0.05 0.16 1.80
SM25-133538 44.45 84.80 40.35 Results awaited
84.80 126.25 41.45 0.61 0.47 0.03 0.17 1.06
including 87.95 88.65 0.70 0.85 1.71 0.04 0.45 1.31
including 93.3 97.2 3.90 1.40 1.01 0.08 0.27 2.47
including 107 108.2 1.20 1.76 0.50 0.09 0.18 2.83
including 115.7 116 0.30 2.07 0.68 0.09 0.04 2.59
including 120.6 124.5 3.90 1.37 0.77 0.06 0.29 2.03
SM44-428267 15.00 68.95 53.95 0.96 0.76 0.04 0.09 0.74
including 27.5 28.5 1.00 0.89 0.98 0.04 0.05 0.75
including 57.65 60.55 2.90 4.45 2.20 0.16 0.01 3.08
including 62.9 68 5.10 3.87 2.56 0.14 0.03 2.83
72.85 106.95 34.10 Results awaited
SM44-473240 22.10 100.00 77.90 0.28 0.29 0.01 0.18 0.28
including 25.1 27.8 2.70 1.34 0.62 0.05 0.10 1.08
including 98 98.6 0.60 0.90 1.46 0.04 11.60 0.89
SM25-111555 36.50 86.00 49.50 0.31 0.28 0.02 0.15 0.59
including 59.75 60.3 0.55 1.88 1.49 0.08 0.03 2.20
including 78.8 79.15 0.35 1.97 0.49 0.10 0.03 3.03
SM44-459220 18.10 90.90 72.80 0.33 0.24 0.02 0.09 0.34
including 20.7 21.6 0.90 1.26 1.21 0.06 0.51 2.11
including 45.2 46.4 1.20 1.03 0.60 0.04 0.06 1.44
including 85.4 89.5 4.10 1.33 0.83 0.05 0.07 0.83
SM44-429266 15.50 78.00 62.50 0.23 0.33 0.01 0.12 0.23

Readers are invited to view an updated geological map showing the interpreted surface extent of the Yacouba Layered Complex via the following link.

Core logging and sampling was performed at Sama's facility in Yorodougou village. Sample preparation was conducted 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.

Withdrawal of Short Form Prospectus

The Company is withdrawing its preliminary short form prospectus dated June 8, 2015 and will not be proceeding with the offering described in its press release of June 9, 2015. This decision was due to market conditions and the costs involved in addressing comments of the securities regulators regarding the Company's technical report with respect to its Samapleu property. The Company intends to file an updated technical report when its exploration work on the Samapleu property is sufficiently advanced so as to warrant such an update.

The technical information in this release has been reviewed and approved by Dr. Marc-Antoine Audet, P.Geo and President and Chief Executive Officer, Sama Resources Inc., and Qualified Person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects.

For more information, please visit the Company's website at or click on the following link to access Sama's most recent corporate presentation.

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, among other things, the Company's plans to file an updated technical report and 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

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

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