Sama Resources Inc.
TSX VENTURE : SME

Sama Resources Inc.

May 19, 2011 09:50 ET

Sama Resources Expands Exploration and Resource Definition Work at the Samapleu Project.

Sama Also Provides Regional Update

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 19, 2011) -Sama Resources Inc. (TSX VENTURE:SME) -

Highlights

  • 8,100 metres of definition drilling completed since November 2010:
    • 24 holes totaling 3,395 metres were drilled in March and April 2011, and results are expected in the next 3 to 4 weeks.
  • Newly discovered potential zones:
    • Gangbapleu-Bounta ridge, a 19-kilometre corridor with 11 identified mafic bodies.
  • NI 43-101 Compliant Mineral Resource expected in the second half of 2011 for the Samapleu Ni-Cu-PGM and the Sipilou South Ni-Co laterite projects.

Sama Resources Inc. ("Sama" or the "Company") is pleased to announce that the drill programs to date have successfully confirmed the mineralized potential within the 446 square kilometre ("km") district-scale Samapleu project area. This includes the Samapleu nickel ("Ni"), copper ("Cu") and platinum group metals ("PGM") deposit, the discovered Samapleu Extension 1 Ni-Cu-PGM zone and the Gangbapleu-Bounta ridge. The Gangbapleu-Bounta ridge is a 19-km long ridge that has been outlined as hosting 11 newly identified mafic to ultramafic bodies, each with the potential of hosting mineralization. Ground magnetometre and Induced Polarization geophysics ("IP") surveys performed in January 2011 over the northeast end of the ridge have returned strong chargeability signatures similar to what has been observed at the Samapleu and Samapleu Extension 1 deposits. Preparation of drilling pads is ongoing at the ridge.

The Company expects to deliver a preliminary National Instrument 43-101 ("NI 43-101") compliant Mineral Resource for the Samapleu Ni-Cu-PGM deposits in the second half of 2011, as well as a NI 43-101 compliant Mineral Resource for the Sipilou South nickel-cobalt laterite deposit by the end of the summer. The Company is also dedicated to defining additional mineralized bodies through regional exploration.

Please click the link below for a map of the mineralized zones together with the Gangbapleu-Bounta ridge:
http://www.samaresources.com/i/misc/Samapleu_Bounta_Gangbapleu_IP_compilation_ May2011.jpg

"The Samapleu polymetallic deposit and surrounding mineralized occurrences give Sama the opportunity to create a new world-class nickel district. The combined occurrences of Sama's Samapleu nickel-copper deposit is in close vicinity to the newly investigated Sipilou South laterite deposit and enhances the Company's goal to become the first polymetallic producer in Western Africa," stated Dr. Marc-Antoine Audet, President and CEO.

Regional Update

Regional exploration and drilling continues at the Samapleu project as scheduled. Additional new targets have been outlined and will be drilled shortly. In January 2011, the Company expanded its exploration work to the adjacent wholly-owned 1,212 km2 Lola project in the Republic of Guinea. The Lola project was acquired to cover extensions in Guinea which are proving to be world-class laterite nickel-cobalt deposits in addition to the massive sulphide potential discovered in adjacent Côte d'Ivoire. Dr. Audet first identified this potential while working on adjacent permits in Côte d'Ivoire in the 1990s.

Mineralized Zones within the Samapleu Project and Highlights to Date

Samapleu Ni-Cu-PGM Deposit

The 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 metre ("m") long mass open at surface toward the southeast and the northwest and at depth. As of the end of April 2011, 56 holes totaling 8,236 m have been drilled on a 50 m by 25 m drill pattern in order to define an open pittable Mineral Resource extending from surface down to approximately 150 m. A total of 24 holes totaling 3,395 m were drilled during March and April 2011, however, due to post-election tension prevailing at that time in Abidjan, those samples were sent for assays at the beginning of May. Results are expected by mid June. In addition to previously published drill results, the Company is pleased to disclose the following new results from three holes drilled in January 2011:

BoreholeAssay Result
SM44-68028923 m @ 0.52% Ni, 0.58% Cu (including 1.05 m at 2.11% Ni, 2.34% Cu)
SM44-64133244 m @ 0.30% Ni, 0.29% Cu
SM44-487292d20 m @ 0.68% Ni, 0.79% Cu

All assay results and cross-sections are presented on the Company's website at www.samaresources.com under Samapleu Ni-Cu-PGE, Drilling Update April 11 2011.pdf.

Samapleu Ni-Cu-PGM Extension 1

  • 1.3 km northeast of the Main Samapleu Deposit.
  • 9.0 m @ 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.
  • 1.65 m @ 1.82% Ni, 2.14 grams per tonne ("gpt") Pd.
  • 0.65 m @ 1.75% Ni, 2.74 gpt Pd.

An additional 2,500 m of drilling will be performed at the Samapleu Ni-Cu-PGM Extension 1 in the next few months.

Sipilou South Nickel-Cobalt Laterite Deposit

In February 2011, the Company drilled 22 holes totalling 813 m on a 400 m by 800 m grid. Sixteen of the 22 holes outlined a surface area of 3.1 km2; comprising a continuous Nil-cobalt-scandium-rich surface laterite deposit. Individual cobalt and scandium assays reach up to 0.34% and 110 ppm, respectively, in the limonitic section of the Sipilou South deposit.


Borehole
Assay Result
(using 1.0% Ni cut-off grade)
SS44-20040013.7 m @ 2.5% Ni
SS44-20080010.1 m @ 1.2% Ni
SS44-8008009.5 m @ 1.4% Ni
SS45-4008004.7 m @ 1.3% Ni
SS54-2004005.4 m @ 1.3% Ni
SS64-2001006.5 m @ 1.1% Ni
SS64-200100laterite with < 1.0% Ni
SS64-20080013.0 m @ 1.5% Ni
SS64-350400laterite with < 1.0% Ni
SS64-80080019.5 m @ 1.5% Ni
SS73-750315laterite with < 1.0% Ni
SS74-4004006.5 m @ 1.1% Ni
SS74-40080016.0 m @ 1.4% Ni
SS74-8004002.5 m @ 1.4% Ni
SS74-8008003.0 m @ 1.3% Ni
SS84-80040011.0 m @ 1.9% Ni

Project Location

The Samapleu project is located approximately 600 km northwest of Abidjan in Côte d'Ivoire and encompasses district-size scale of approximately 446 km2. 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 Ni-cobalt laterite deposits of Sipilou, Foungouesso, Moyango and Viala.

Drilling was performed by Global Exploration Services SARL of Abidjan, Côte d'Ivoire. Core logging and sampling were performed at Sama's facility in Yorodougou village. Samples 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 will be assayed for nickel, cobalt, scandium and all major oxides. The assays were performed using XRF analysis.

The Samapleu project is a joint venture between the Company's 100% owned subsidiary SAMA Nickel Corporation (66 2/3%) and SODEMI (33 1/3%).

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.

For more information please visit Sama's website at www.samaresources.com.

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
    Cell: Canada: (514) 726-4158
    Cell: Côte d'Ivoire: + 225, 48.66.48.09

    Sama Resources Inc.
    Kam Thindal
    Investor Relations
    (604) 566-9236 or Cell: (604) 488-9875
    www.samaresources.com