Sama Resources Inc.
TSX VENTURE : SME

Sama Resources Inc.

January 14, 2014 07:00 ET

Sama Resources Intersects 4.4 Meters Averaging 1.13% Nickel at the Newly Discovered Yepleu Deposit

Highlights

- Hole YE32-418407A intersected 40 meters of mineralized pyroxenite including 22.0 meters grading 0.42% nickel and 0.23% copper with 4.4 meters of combined lenses of semi-massive (30% to 70%) sulphide mineralization 1.13% nickel.

- Hole YE32-390423 intersected a total of 44 meters of mineralized pyroxenite grading 0.26% nickel including 1.5 meters of combined lenses of semi-massive (40% to 80%) sulphide mineralization grading 1.11% nickel.

- These mineralized intercepts are part of a 2.8 kilometer long by 0.6 to 0.8 kilometer wide sub-horizontal mineralised layer in which sixteen holes were drilled so far for a total of 2,564 meters.

- Yepleu deposit is located 18 kilometers southwest of the Samapleu Nickel-Copper-Palladium Deposits.

- Drilling continues at the Yepleu Project.

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan. 14, 2014) - Sama Resources Inc./Ressources Sama Inc. ("Sama" or the "Company") (TSX VENTURE:SME) is pleased to announce the assay results from six holes drilled at the .newly discovered "Yepleu" nickel-copper deposit in Cote d'Ivoire, West Africa. Drill hole YE32-418407A intersected 22 metres ("m") grading 0.42% nickel ("Ni"), 0.23% copper ("Cu"). The mineralized interval includes several semi-massive high grade sulphide lenses for a total of 4.4m averaging 1.13% Ni.

The Yepleu Project is located 18 kilometers ("km") southwest of the Samapleu nickel-copper-palladium deposits at the southwest boundary of the Samapleu Project in Cote d'Ivoire, West Africa. A total of 16 core boreholes were drilled since the beginning of November 2013 defining a sub-horizontal mineralized horizon of 2.8km long by 600 to 800m large and outcropping at northeastern edge. Sama's target is to find pocket of high grade nickel-copper and palladium within this very large mineralized system.

Detailed geophysical interpretation of the airborne HTEM Survey has identified more than 20 high priority targets for nickel-copper-palladium exploration. Strong HTEM survey conductors were identified at depth at the Samapleu Main and Samapleu Extension 1 nickel-copper-palladium deposits as well as along a corridor of more than 25 km oriented northeast-southwest. The Yepleu Project is just one of them.

The HTEM Survey clearly demonstrates the discovery potential for additional nickel-copper sulphide deposits within Sama's properties.

The table set out below shows the details for mineralized intercepts. Intercepts were defined using 0.1% nickel cut-off grades.

HOLE-ID FROM TO LENGTH Nickel Copper Cobalt Platinum Palladium
m m m % % % gpt gpt
YE23-580042 40.15 52.65 11.48 0.46 0.34 0.02 0.14 0.04
66.05 72.30 6.25 0.23 0.21 0.01 0.12 0.06
YE23-580037 37.00 51.50 14.50 0.46 0.27 0.02 0.14 0.06
Including 0.80 1.20 0.82 0.04 0.19 0.02
66.00 72.00 6.00 0.22 0.22 0.01 0.08 0.03
YE32-418407A 8.00 23.45 15.45 0.17 0.06 0.01 0.07 0.03
Including 0.20 1.52 0.13 0.07 0.41 0.00
26.15 48.00 21.85 0.42 0.23 0.02 0.12 0.03
Including 0.60 1.20 0.16 0.06 0.41 0.02
Including 1.15 1.19 0.10 0.07 0.18 0.01
Including 2.45 1.06 0.24 0.05 0.30 0.02
YE32-418407B 3.00 36.05 33.05 0.28 0.15 0.02 0.12 0.04
Including 0.85 1.14 0.51 0.07 0.20 0.04
Including 0.80 1.04 1.02 0.06 0.19 0.01
Including 0.35 1.16 1.45 0.06 0.28 0.68
YE32-418407C 3.00 34.00 31.00 0.24 0.16 0.01 0.11 0.04
Including 0.55 1.56 0.92 0.07 0.25 0.10
Including 0.55 1.12 0.19 0.06 0.20 0.00
Including 0.55 1.30 1.12 0.06 0.19 0.00
YE32-390423 6.00 16.20 10.20 0.24 0.11 0.02 0.12 0.14
21.50 53.50 30.60 0.26 0.13 0.02 0.08 0.05
Including 0.30 1.15 0.26 0.06 0.28 0.01
Including 1.00 1.00 0.19 0.05 0.14 0.01
57.00 59.00 2.00 0.44 0.17 0.03 0.07 0.01
Including 0.20 1.57 0.33 0.07 0.25 0.01
63.50 65.00 1.50 0.17 0.21 0.01 0.03 0.00

The disseminated mineralization is typically characterised by fine isolated grains to large granular aggregates of nickel, copper and iron sulphides. Sulphide phases observed so far include pyrrhotite, chalcopyrite, pentlandite and minor pyrite. Pentlandite occurs as inclusions in pyrrhotite. Disseminated sulphide occurs as fine grains of 0.5 to 1 millimetre in diameter, showing a high ratio of pyrrhotite versus chalcopyrite. Sulphide veinlets and fine filaments are also present. Composite grains of sulphide material are dominant, forming sulphide masses of odd shapes ranging from a few millimetres up to several centimetres in any one dimension. The semi-massive mineralization lenses show between 30% to 70% sulphide minerals.

Drilling continues at the Yepleu Project using Sama's 100% owned Coretech CSD 1300G drill rigs.

Core logging and sampling was performed at Sama's facility in Yorodougou village. Sample preparations for the nickel-copper sulphide exploration program were performed at Societe de Developpement de Gouessesso's sample preparation facility in Gouessesso village under Sama's supervision. Sample pulps will be delivered to Bureau Veritas Mineral Laboratory's facility in Abidjan ("BVML") for dispatch by BVML directly to their assay laboratory, Ultra Trace Pty, in Perth, Australia. All samples will be assayed for Ni, Cu, Co, Pt, Pd and Au.

The technical information in this release has been reviewed and approved by Dr. Marc-Antoine Audet, P.Geo and President and CEO of Sama, and a 'qualified person', as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects.

For more details, the reader is invited to review Sama's updated compilation on its website at:

http://www.samaresources.com/i/pdf/Sama_Corporate_Presentation.pdf

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.

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 vary or 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 and the estimation of mineral resources and reserves, 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.

Contact Information

  • Sama Resources Inc/Ressources Sama Inc.
    Dr. Marc-Antoine Audet
    President and CEO
    (514) 726-4158

    Sama Resources Inc/Ressources Sama Inc.
    Mr. Matt Johnston
    (604) 443-3835 or Toll Free: 1 (877) 792-6688, Ext. 4
    www.samaresources.com