Sama Resources Inc.

TSX VENTURE : SME


Sama Resources Inc.

April 11, 2012 07:00 ET

Sama Resources Initiates Phase 1 Drilling at Its Lola Project (Guinea) and Phase 3 Drilling at Its Samapleu Project (Cote d'Ivoire)

Update on Exploration Activities and Metallurgical Testing

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 11, 2012) - Sama Resources Inc. (TSX VENTURE:SME) -

Highlights:

  • Drilling resumes at the Samapleu Project in Côte d'Ivoire
  • Very encouraging metallurgical results for high ratio upgrading potential at Samapleu
  • Discovery of additional occurrences of Massive Chromites at the Samapleu Project
  • Drilling commences at the Lola Project in Guinea.

Sama Resources Inc. ("Sama") is pleased to announce that Phase 3 drilling at its Samapleu Project will resume by mid-April to test the mineralization in the northeastern and southwestern extensions of the Samapleu Extension 1 Nickel and Copper deposit. The drilling program will also aim at testing the potential of the Samapleu Main deposit at depth. Drilling will be performed by Global Exploration Services SARL of Abidjan, Côte d'Ivoire.

Sama is also pleased to announce that Phase 1 drilling has commenced at the Gogota laterite plateau at Sama's Lola Project in neighbouring Guinea, using 2 Sama-owned portable Jacro 175 drill rigs. Sama expects to drill all laterite plateaus discovered at its Lola Project in Guinea. To date, Sama has discovered a total of 15 prospective laterite plateaus in the region. The Jacro 175 drill rigs are capable of yielding HQ size core material (63.5 mm in diameter), down to a depth of 60 to 70 metres. Additional exploration work is ongoing at the Lola Project, aiming at delineating Nickel-Copper mineralization, Nickel-Cobalt laterites and the potential of Massive Chromites associated with layered complexes.

During 2012, the 2 Sama-owned drill rigs will be used at Sama's Lola Project in Guinea and its Samapleu Project in Côte d'Ivoire.

Massive Chromites

During the month of March 2012, Sama outlined additional surface occurrences of Massive Chromites in Côte d'Ivoire that were of similar quality as previously discovered and reported on February 14 and 16, 2012. The latest discovery is an 80-metre long cluster of large Massive Chromite blocks, in the highly prospective 19-kilometre long Bounta-Gangbapleu ridge, which brings the total specific Massive Chromite occurrences to 8. Chromite occurrences discovered to date are grouped into 2 main sectors called Bounta North and Bounta South. Surface mapping continues along the entire ridge.

Exploration work is ongoing using the rock drill percussion Pionjar system, which permits the collection of representative samples at a selected depth ranging from surface to 30 metres. Chromite intersections at the Bounta North occurrence were found at various depths ranging from 9 to 20 metres. Other Chromite occurrences are yet to be tested using the Pionjar system. Conventional drilling will be performed as soon as possible, whereupon additional samples will be taken for chemical analysis. These Massive Chromite occurrences, in addition to having significant potential by themselves as possible candidates for direct shipping of economic material, are indicative of a highly favourable geological environment for additional Samapleu Nickel-Copper style mineralization.

Samapleu Mineral Resources and Metallurgical Tests

Development of the mineral resources at the Samapleu Main and Samapleu Extension 1 deposits is ongoing using data from the 2010/11 drilling programs.

Metallurgical pre-concentration tests performed by Société Générale de Surveillance ("SGS") in Lakefield, Ontario, and by Minesense in Vancouver, BC, have returned very encouraging results which establish the potential for high ratio upgrading by separating barren and low grade material prior to processing by milling and flotation. Minesense's electromagnetic separation tests have shown that from a head grade of 0.27% Nickel and 0.21% Copper, 91.8% of the Nickel and 91.2% of the Copper content can be recovered by rejecting 36% of the feed mass, creating a 0.39% Nickel and a 0.30% Copper concentration of material.

Based on upgrading tests performed in 2011 by SGS in Lakefield, the concentrate produced above could be further upgraded using Heavy Media separation, with a further 55% rejection of the mass creating a feed for the flotation circuit grading 0.66% Nickel and 0.53% Copper. Thus, the material for milling and flotation would be considerably reduced. Previous work by SGS on Samapleu material has indicated that a high quality flotation Nickel-Copper concentrate can be produced from such feed. Such potential processing approaches are being examined further as they will allow Sama to investigate the possibility of mining all mineralized material defined using a very low cut-off grade of Nickel.

The reader is invited to review Sama's updated compilation of details regarding showings, deposits and locations on its website at http://www.samaresources.com/i/pdf/Sama_Corporate_Presentation.pdf.

The Samapleu Project in Côte d'Ivoire is currently in its exploration phase. Future production will be managed by a joint venture controlled 66 2/3% by Sama Nickel Corporation, a wholly-owned subsidiary of Sama, and 33 1/3% by Société pour le Développement Minier de Côte d'Ivoire. The exploration licenses for the Lola Project in Guinea are exclusively held by a wholly-owned subsidiary of Sama.

Further to Sama's news release dated September 13, 2011, Sama also announces that it has terminated effective February 29, 2012, its investor relations agreement with Brisco Capital Partners Corp.

This news release was prepared by Dr. Marc-Antoine Audet, P.Geo., President and CEO of Sama, and by Dr. Phillip Mackey, P.Eng., a metallurgical consultant, both acting as Qualified Persons under National Instrument 43-101, Standards of Disclosure for Mineral Projects.

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 Sama'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 Sama, 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 Sama'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 is 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, Sama 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, Press 4
    (604) 682-3860 (FAX)
    www.samaresources.com