Sama Resources Inc.
TSX VENTURE : SME

Sama Resources Inc.

February 07, 2011 07:00 ET

Sama Resources Intersects 33.29 Metres of 2.45% Nickel+Copper

Intersection Includes 3.71% Nickel and 2.84% Copper Over 6.65 Metres at its Poly-metallic Samapleu Project

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 7, 2011) - Sama Resources Inc. (TSX VENTURE:SME) -

Highlights:

  • Intersection of a mineralized zone of 33.29 metres grading 1.29% nickel and 1.16% copper, including 6.65 metres grading 3.71% nickel and 2.84% copper.
  • Intersection of a mineralized zone of 19.6 metres grading 2.14% nickel+copper, including 2.55 metres grading 2.72% nickel and 1.75% copper.
  • Intersection of a possible new parallel mineralized horizon: 8.25 metres of mineralization, including 0.5 metres of massive sulphide and 2.75 metres of semi-massive sulphide.
  • Commenced 1,000 metre drilling program at its Sipilou South nickel and cobalt-rich laterite deposit.

Sama Resources Inc. ("Sama" or the "Company") is pleased to announce assay results for the first 7 holes of its Phase II definition and exploration drilling program at the Company's "Samapleu Project" in Côte d'Ivoire, Africa.

"Management is very excited about the excellent nickel and copper grades being returned over good widths in this drilling program. These results further confirm that Sama feels it has a world-class opportunity at its Samapleau Project," stated Dr. Marc-Antoine Audet, President and CEO.

In January, 2011, the Company drilled 7 holes totalling 846 m. Since the start of the Phase II drilling program on October 10, 2010, 27 boreholes totalling 3,604 m of the planned 9,000 m have been completed.

Drill hole SM44-450250b has returned 33.29 m grading 1.29% nickel and 1.16% copper, including 6.65 m at 3.71% nickel, 2.84% copper and 3.42 grams per tonne ("gpt") palladium, platinum and rhodium combined.

Drill hole SM44-450250c intersected 38.6 m grading 0.52% nickel and 0.88% copper, including 2.55 m at 2.72% nickel, 1.75% copper and 2.62 gpt palladium, platinum and rhodium combined.

The Company is also pleased to announce that it has intersected 8.25 m of mineralization, including 0.5 m of massive sulphide and 2.75 m of highly disseminated sulphide, starting 25 m below surface in hole SM44-680289. True widths are not known at this time. The orientation and geometry of this new intercept needs to be further defined, as it is located approximately 75 m east of the main Samapleu mineralization and may represent a new and parallel mineralized horizon.

Please click the link below for a map of the mineralized zones:
http://www.samaresources.com/i/misc/Samapleu_polymetallic_longitudinal_section_Feb_07.jpg

The Samapleu exploration license hosts a significant amount of nickel+cobalt and scandium-rich laterite material, known as the Sipilou South laterite deposit, which is located 5 kilometres northwest of the Samapleu Project. Approximately 50% of the Sipilou South laterite deposit extends into the exploration license. Laterite material grading between 1.2% to 2.04% nickel and 0.06% to 0.10% cobalt has been reported from previous works. Sama has started a 1,000 m drilling program which is aimed at defining an inferred mineral resource based on an 800 m x 400 m grid.

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. Sample preparations were performed at Société de Développement de Gouessesso's sample preparation facility in Gouessesso village under Sama's supervision. Sample pulps 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, copper, cobalt, fer, sulphur, platinum, palladium, rhodium and gold.

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

Readers are invited to visit Sama's website at www.samaresources.com for a complete update on Sama's current drilling campaign.

The Company is closely monitoring the political situation in Côte d'Ivoire. Sama's exploration and drilling program at the Samapleu Project continues as scheduled.

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

For contact 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 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, 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
    www.samaresources.com
    or
    Hamza Thindal Capital Corp.
    Kam Thindal
    Investor Relations
    (604) 566-9236 or Cell: (604) 488-9875