Sama Resources Inc.
TSX VENTURE : SME

Sama Resources Inc.

December 08, 2010 07:00 ET

Sama Resources Confirms Discovery of Multiple Mineralized Bodies Within the Samapleu Project

Sama Also Provides Corporate Update

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 8, 2010) - Sama Resources Inc. (TSX VENTURE:SME) -

Highlights

  • 9,000 metre definition drilling program is ongoing at the:

    • Samapleu Main polymetallic deposit

    • Samapleu Extension 1 polymetallic deposit

    • Sipilou South nickel, cobalt and scandium laterite deposit.

  • Newly discovered potential zones:

    • Kourouba occurrence

    • Gangbapleu zone along a 10 kilometre corridor

  • Political situation: business as usual; field work and drilling is ongoing.

Sama Resources Inc. ("Sama" or the "Company") is pleased to announce that drill programs to date have successfully confirmed the mineralized potential within the 446 square kilometre ("km") district-scale Samapleau project area including at the main Samapleu nickel ("Ni"), copper ("Cu") and platinum group metals ("PGM") deposit and the subsequently discovered, entirely new, mineralized bodies up to several kms from the Main Samapleu deposit. These 6 multiple zones of mineralization are within an area that measures 8 kms by 8 kms.

The Company expects to deliver a preliminary National Instrument 43-101 compliant Mineral Resource at the Main Samapleu deposit by mid-2011, while defining the additional mineralized bodies and how they potentially augment the global resource. A 9,000 metre ("m") drill program is currently ongoing and has identified additional multiple mineralized zones/anomalies with assays expected shortly. Detailed information regarding the new zones of mineralization is listed below.

Please click the link below for a map of the mineralized zones:
http://www.samaresources.com/i/misc/Samapleudepositslocationmapdec07-2010.jpg

"The Samapleu polymetallic deposit and surrounding mineralized occurrences give Sama Resources the opportunity to create a new world class nickel district," stated Dr. Marc-Antoine Audet, President and CEO of the Company.

Corporate Update

The Company is closely monitoring the political situation in Côte d'Ivoire. Exploration and drilling continues at the Samapleau project as scheduled.

Mineralized Zones within the Project and Highlights To Date

Main Samapleu Deposit

The Main Samapleu deposit appears to be composed of two distinct and more or less parallel tubular shaped lenses of massive sulphide plunging towards the south at approximately 35°. These two massive lenses are located within a 10% to 40% halo of disseminated sulphide within pyroxenite units, forming a 400 m long mass open at surface toward the southeast and the northwest and at depth. A detailed induced polarization ("IP") survey is due to start shortly to test potential at both ends.

  • 17.60 m 1.95% Ni, 1.95% Cu, 0.07% cobalt ("Co"), 1.5 g/t palladium ("Pd"), 0.13 g/t platinum (" Pt "), 0.27 g/t gold ("Au").

  • 3.00 m massive sulphide within 23.75 m of highly disseminated sulphides (Awaiting Assay)

  • 24 historic drill holes including:

    • 6.50 m 3.04% Ni, 2.58% Cu

    • 8.00 m 2.58% Ni, 4.34% Cu.

Samapleu Extension 1

  • 1.3 km northeast of the Main Samapleu Deposit.

  • 9.0m @ 1.93% Ni + Cu, 1.6 g/t PGM within 109 m of material enriched with disseminated and semi-massive sulphide mineralization.

  • 0.90 m @ 2.68% Ni.

  • 1.65m @ 1.82% Ni, 2.14 g/t Pd.

  • 0.65 m @ 1.75% Ni, 2.74 g/t Pd.

Sipilou South Nickel-Cobalt+Scandium Laterite Deposit

The Samapleu exploration license also hosts a significant amount of nickel-cobalt + scandium rich laterite material, known as the Sipilou South laterite deposit, located 5 kms northwest of the Main Samapleu deposit. Approximately 50% of the Sipilou South laterite deposit extends into the exploration license. Laterite material grading between 1.2% to 2.04% Ni and 0.06% to 0.10% Co has been reported from previous works. A first stage laterite drilling program by the Company on an 800 m x 400 m grid is part of the current Phase II drilling program.

Newly Discovered High Potential Zones

Kourouba

Discovery of a new mineralized sector located 2.5 kms north of the Main Samapleu deposit.

  • 23.75 m of mineralized pyroxenite with disseminated sulphide ranging from 10 to 30% including stringers of massive sulphide.

  • Full lateral extension is not known.

  • Open at depth.

Gangbapleu

Sama's surface exploration has identified a new mafic to ultramafic complex (potential host for mineralization) located 3.5 kms south of the Main Samapleu deposit. This new "Gangbapleu" sector extends for several kms to the southwest. A mineralized pyroxenite rock sample collected at surface has returned 0.15% Cu and 0.07% Ni. Although low, these unexpected values at surface are indicative of the potential for a whole new complex. Grid layout is ongoing and geological mapping, together with IP geophysical surveys, will be performed as soon as possible. The Gangbapleu mafic-ultramafic complex appears to extend sporadically southward for an additional 10 kms. Sama's regional exploration will also cover the southern part of the Samapleu project.

Location

The Samapleu project is located approximately 600 kms northwest of Abidjan and encompasses district-size scale of approximately 446 square kms. The area has excellent infrastructure with a road network leading to the project and all required services available in the nearby towns of Man and Biankouma. The Samapleu license is located adjacent to the large world class nickel-cobalt laterite deposits of Sipilou, Foungouesso, Moyango and Viala.

The Samapleu project is a joint venture between the Company's 100% owned subsidiary SAMA Nickel Corporation (66â…”%) and SODEMI (33â…“%).

This News Release was prepared by Dr. Marc-Antoine Audet, P.Geo, President and CEO of Sama Resources Inc. and a Qualified Person under National Instrument 43-101.

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 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, 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
    Canada: (514) 726-4158
    Cote d'Ivoire: + 225 48.66.48.09
    or
    Sama Resources Inc.
    Kam Thindal
    Investor Relations
    (604) 488-9875
    www.samaresources.com