Sama Resources Inc.
TSX VENTURE : SME

Sama Resources Inc.

February 16, 2012 07:00 ET

Sama Resources Intersects 69 Metres at 1.10% Nickel+Copper and More New Results at its Samapleu Nickel-Copper Deposits in Cote d'Ivoire

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 16, 2012) - Sama Resources Inc. (TSX VENTURE:SME) -

Highlights:

  • Hole SM25-009620 returned 69.50 m at 1.10% Ni+Cu
  • Hole SM44-494350a returned 26.95 m at 1.12% Ni+Cu
  • Hole SM44-494350b returned 39.60 m at 1.21% Ni+Cu
  • Hole SM24-771588 returned 11.45 m at 1.12% Ni+Cu
  • Ni+Cu mineralized material: additional upgrading metallurgical tests ongoing at SGS and MineSense.

Sama Resources Inc. (TSX VENTURE:SME) ("Sama" or the "Company") is pleased to announce assay results for mineralized intersections of 11 holes drilled in October and November of 2011 at its Samapleu project in Côte d'Ivoire.

Assay results for 11 holes drilled at the "Samapleu Extension 1 poly-metallic zone" and the "Samapleu Main poly-metallic deposit" have been received. The Samapleu Extension 1 poly-metallic zone is located 1.3 kilometres ("km") north of the Samapleu Main poly-metallic deposit.

Drill hole SM25-009620 returned 69.50 metres ("m") combined highly disseminated and massive sulphides grading 1.10% nickel ("Ni")+copper ("Cu") and 1.06 grams per tonne ("gpt") palladium ("Pd")+platinum ("Pt"), including 2.1 m of massive sulphides grading 2.29% nickel, 0.50% copper, 0.13% cobalt ("Co") and 2.19 gpt palladium. The mineralized intersection starts at 33.75 m from surface, immediately below the overburden. Borehole SM25-009620 was drilled at the northeast end of the mineralized strike of the Samapleu Extension 1 poly-metallic zone, meaning that the mineralized zone is open toward the northeast, as well as depth.

Borehole SM24-627794, located at the southwest end of the Samapleu Extension 1 poly-metallic zone, returned 1.95 m of massive sulphides grading 2.29% nickel and 0.36% copper, indicating that the mineralized zone is also open toward the southwest.

Assay results for 3 more holes are still pending. Table 1 below shows combined mineral intercepts for these new holes.

Flotation test work performed earlier in 2011 by Société Générale de Surveillance, Lakefield, Ontario ("SGS"), demonstrated that from a mineralized blend grading of 0.53% nickel and 0.52% copper, a bulk nickel+copper concentrate analyzing 18.5% is produced. Based on these excellent results, SGS was commissioned to perform upgrading metallurgical tests. The initial upgrading tests indicated that lower grades of Samapleu mineralized material will produce a higher grade of material as fed to flotation.

Upgrading Tests - 0.35% Nickel Material

Heavy media separation tests showed that in treating material at 0.35% nickel and 0.33% copper, the resultant material grades are 0.66% Nickel and 0.53% Cu, while rejecting 55% of the feed material mass prior to the flotation circuit.

Further tests are currently ongoing with a bulk sample of 44 kilograms using a 0.30% Nickel calculated head grade. Additional upgrading tests are planned using electromagnetic sensor sorting methodology at MineSense's laboratory in Vancouver, BC.

The Company's discovered 19-km long Gangbapleu-Bounta ridge contain several outcropping mafic and ultramafic bodies, as well as newly discovered Massive Chromite occurrences named Bounta North and Bounta South (see News Release dated January 14, 2012). These Massive Chromite occurrences, in addition to having significant potential by themselves as possible candidates for direct shipping economic material, are indicative of a highly favourable geological environment for additional Samapleu Ni-Cu style mineralization.

The Company is actively pursuing surface exploration along the 19 km long ridge and is seeking to perform an approximately 12,000 line/km airborne magnetometre survey over the entire Samapleu property in Côte d'Ivoire and a large part of Sama's Lola Project in Guinea, which is adjacent to Samapleu.

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.

Drilling was performed by Global Exploration Services SARL of Abidjan, Côte d'Ivoire. 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 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 are assayed for nickel, copper, cobalt, iron, sulphur, platinum, palladium, rhodium and gold ("Au") using sodium peroxide fusion and determined by inductively coupled plasma optical emission spectrometry.

The Samapleu Nickel-Copper Sulphide 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 the Company, and 33 1/3% by Société pour le Développement Minier de Côte d'Ivoire.

Table 1: Combined new mineral intercepts for 11 holes drilled at the Samapleu Main poly-metallic deposit. Combined downhole mineral intercepts were defined using 0.20% nickel cut-off grades.

New HOLE-ID Start
From
Total
Downhole
Thickness
of
Mineralization
Ni Cu Co Pt Pd Au
m m % % % gr/t gr/t gr/t
New Interceptions
SM44-494350a 18.5 26.95 0.72 0.40 0.04 0.10 0.41 0.03
Includes 0.80 1.31 0.69 0.06 0.31 0.62 0.04
Includes 0.50 3.97 0.05 0.17 0.00 0.38 0.00
Includes 1.70 3.04 0.37 0.13 0.03 1.49 0.02
SM44-494350b 11.00 39.60 0.62 0.59 0.03 0.10 0.36 0.04
Includes 2.10 2.93 1.96 0.13 0.02 1.32 0.02
Includes 1.50 1.62 1.33 0.08 0.35 0.85 0.04
SM24-737618a 26.00 10.20 0.65 0.41 0.03 0.16 1.70 0.05
Includes 3.00 1.38 0.52 0.05 0.22 3.63 0.08
Includes 0.40 1.38 3.43 0.06 0.10 4.57 0.09
SM24-737618b 27.00 10.85 0.32 0.26 0.02 0.33 0.93 0.06
Includes 0.30 1.32 0.21 0.08 0.45 3.97 0.16
SM24-772654 34.25 85.95 0.31 0.22 0.02 0.06 0.38 0.01
Includes 1.00 1.11 0.53 0.06 0.22 1.82 0.07
Includes 0.80 1.03 0.29 0.04 0.24 1.48 0.01
Includes 0.45 3.53 0.05 0.16 0.01 2.12 0.00
SM24-721711 93.70 19.75 0.28 0.21 0.02 0.22 0.63 0.03
SM24-631727 33.00 48.35 0.32 0.20 0.02 0.07 0.40 0.02
Includes 1.50 1.42 0.09 0.03
SM24-665760 34.90 26.50 0.34 0.36 0.02 0.13 0.53 0.03
SM24-627794 35.45 18.80 0.56 0.22 0.03 0.56 0.66 0.02
Includes 1.95 2.29 0.36 0.10 0.27 2.57 0.01
Includes 1.00 1.29 0.26 0.08 0.03 1.64 0.02
SM24-771588 73.00 11.45 0.45 0.67 0.02 0.14 0.84 0.04
Includes 0.45 1.16 3.69 0.05 0.01 2.68 0.21
SM25-009620 33.75 69.75 0.56 0.46 0.03 0.14 0.92 0.03
Includes 1.00 1.00 0.70 0.05 0.04 1.75 0.08
Includes 0.80 1.02 0.63 0.04 0.60 1.73 0.05
Includes 0.75 1.27 0.25 0.07 0.04 1.99 0.03
Includes 0.70 1.11 1.16 0.05 0.05 1.76 0.05
Includes 0.85 1.27 0.26 0.06 0.1 1.45 0.04
Includes 1.00 1.24 0.35 0.05 0.05 1.61 0.02
Includes 0.50 2.57 0.17 0.13 0.02 1.96 0.02
Includes 2.10 2.29 0.50 0.13 0.08 2.19 0.03

Sama's exploration and drill program for the Samapleu Nickel-Copper Sulphide Project in Côte d'Ivoire was designed by Dr. Marc-Antoine Audet, P.Geo., Ph.D., and President and CEO of Sama. The technical information in this release has been reviewed and approved by Dr. Audet of Sama and a 'qualified person', as defined by 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 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

    Sama Resources Inc.
    Matt Johnston
    (604) 443-3835 or Toll Free: (877) 792-6688, Press 4
    (604) 682-3860 (FAX)
    www.samaresources.com