Sama Resources Inc.

Sama Resources Inc.

May 01, 2012 07:00 ET

Sama Resources Initiates NI 43 101 Technical Report on its Samapleu Nickel-Copper Project in Cote d'Ivoire

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 1, 2012) - Sama Resources Inc. ("Sama" or the "Company") (TSX VENTURE:SME) is pleased to announce the appointment of Dr. M. Ali Ben Ayad, PhD, P.Geo, and Mr. Pierre Jean Lafleur, P.Eng, to estimate the Mineral Resource and prepare a NI 43-101 (defined below) technical report on the Nickel-Copper mineralization at Sama's Samapleu Project in Côte d'Ivoire. Dr. Ben Ayad and Mr. Lafleur are both 'qualified persons' as defined under National Instrument 43-101, Standards of Disclosure for Mineral Projects ("NI 43-101").

Dr. Ben Ayad visited the Samapleu property in Côte d'Ivoire from April 19 to 22, 2012. Work is ongoing to finalize the Mineral Resource for both the Samapleu Main and the Samapleu Extension 1 Nickel-Copper deposits.

Sama's concessions cover 1,670 square kilometres in the West African countries of Côte d'Ivoire and Guinea. Sama's objective is to develop the Samapleu Nickel-Copper deposits, part of which the Company considers to be the definition of a new world-class base metal district. Exploration work is progressing with more than 80 field personnel. Sama has commenced phase 3 of its drilling program at both deposits.

While continuing to explore for additional new Nickel-Copper occurrences within the Samapleu exploration license, Sama's objective is to launch an Order of Magnitude Study on the viability of an open pit mining operation at the known Samapleu Main and Samapleu Extension 1 deposits. The study will investigate the viability of a modest opencast mining operation with processing through an upgrading circuit followed by conventional flotation producing a Nickel+Copper concentrate. The concentrate will be delivered using the existing highway network to the port of San Pedro, located 550 kilometres south of the Samapleu Project, for shipment to a custom smelter.

Further to Sama's news release dated November 18, 2011, Sama's metallurgical studies indicated that a 18.5% Nickel+Copper concentrate can be obtained from feed grading 0.52% Nickel and 0.53% Copper, with a recovery of 89% on Copper and 75% on Nickel, along with payable Cobalt and potentially payable quantities of Gold and Platinum Group Metals. Recent heavy media separation tests were carried out at Société Générale de Surveillance's laboratory in Lakefield, Ontario, as part of the Company's metallurgical testing program. Results showed that when treating mined material with a calculated head grade of 0.35% Nickel and 0.33% Copper, a float rejection of 0.092% Nickel and 0.17% Copper was produced and the recovered sink material was upgraded to 0.66% Nickel and 0.53% Copper, while rejecting 55% of the feed material mass.

Additional metallurgical studies are currently ongoing, including testing the ability for run of mine material grading 0.25% Nickel and 0.23% Copper, to provide a suitable head grade material by removing significant amounts of near barren rock prior to entering the flotation circuit.

The Samapleu Project in Côte d'Ivoire, currently in its exploration phase, is a joint venture controlled 66 2/3% by Sama Nickel Corporation, a wholly-owned subsidiary of the Company, and 33 1/3% by Société pour le Développement Minier de Côte d'Ivoire.

This news release was prepared by Dr. Marc-Antoine Audet, PhD, P.Geo, President and CEO of Sama, and by Dr. Phillip Mackey, PhD, P.Eng, of P.J. Mackey Technology Inc., a metallurgical consultant, both acting as Qualified Persons as defined in NI 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
    (514) 726-4158

    Sama Resources Inc.
    Matt Johnston
    (604) 443-3835 or Toll Free: (877) 792-6688, Ext. 4