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SME Sama Resources Inc

0.12
0.00 (0.00%)
26 Jul 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Sama Resources Inc TSXV:SME TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.12 0.115 0.12 0 14:25:14

Sama Intersects 1.88% Nickel, 0.78% Copper and 2.84 GPT Palladium Over 11 Metres at Samapleu Project in Cote d'Ivoire

05/03/2013 11:00am

Marketwired Canada


Sama Resources Inc. (TSX VENTURE:SME) ("Sama" or the "Company") is pleased to
announce that drill hole SM25-112519 intersected a continuous mineralized zone
of 122 metres grading 0.44% nickel, 0.32% copper, 0.03% cobalt, 0.94 grams per
tonne ("gpt") palladium and 0.17 gpt platinum at the Samapleu Extension 1
Deposit in Cote d'Ivoire, West Africa.


The interval begins 22 metres from surface and includes several semi-massive
high grade sulphide lenses, including an interval 11 metres thick grading 1.88%
nickel, 0.78% copper, 0.09% cobalt, 2.84 gpt palladium and 0.31 gpt platinum at
84.9 metres from surface.


As stated in Sama's News Release dated February 28, 2013, 5 new holes have also
intersected mineralization in the same area, adding an additional 230 metre-long
strike at the northeast end of the known Samapleu Extension 1 Deposit.


Hole SM25-112519 was drilled vertically; true widths are not known at this time.
Mineralization is still open at depth. Drilling using Sama's own drill rig is
continuing at a pace of 800 to 1,000 metres per month. Assay results are
expected on a regular basis going forward.


The table set out below shows the details for the mineralized intervals at the
Samapleu Extension 1 Deposit. Intervals were defined using 0.1% nickel cut-off
grades.




----------------------------------------------------------------------------
HOLE-ID        FROM     TO LENGTH  Nickel  Copper Cobalt  Platinum Palladium
                  m      m      m       %       %      %       gpt       gpt
----------------------------------------------------------------------------
SM25-112519   22.00 144.00  122.0    0.44    0.32   0.03      0.17      0.94
  Including    84.9   95.9  11.00    1.88    0.78   0.09      0.31      2.84
SM25-112555   32.00  82.00  50.00 Awaited Disseminated to highly            
                                          disseminated sulphide with        
                                          stringers of semi-massive         
                                          sulphide.                         
SM25-184483  110.00 129.00  19.00 Awaited Disseminated to highly            
                                          disseminated sulphide with        
                                          stringers of semi-massive         
                                          sulphide.                         
SM25-256482  114.00 148.00  34.00 Awaited Disseminated to highly            
                                          disseminated sulphide with        
                                          stringers of semi-massive         
                                          sulphide.                         
SM25-183519   60.00 102.00  42.00 Awaited Disseminated to highly            
                                          disseminated sulphide with        
                                          stringers of semi-massive         
                                          sulphide.                         
SM25-133605   93.00 136.00  43.00 Awaited Highly disseminated sulphide (3-  
                                          30%) with 4 metres of semi-massive
                                          sulphide (35-50%) and numerous    
                                          additional stringers of semi-     
                                          massive sulphide.                 
                                                                            
----------------------------------------------------------------------------



Core logging and sampling were performed at Sama's facility in Yorodougou
village. Sample preparations were performed at Societe de Developpement 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, Cote d'Ivoire ("BVML), and then dispatched by BVML directly
to their assay laboratory, Ultra Trace Pty, in Perth, Australia. All samples
were assayed for nickel, copper, cobalt, iron, sulphur, platinum, palladium,
rhodium and gold using sodium peroxide fusion and have been determined by
inductively coupled plasma optical emission spectrometry.


Invitation to 2013 PDAC Booth

Sama is also pleased to announce that it is exhibiting at this year's
Prospectors and Developers Association of Canada (PDAC) in Toronto. Dr.
Marc-Antoine Audet will be addressing investor questions and providing
information on the Samapleu Project at its exhibitor Booth 2602 (Session B).


An updated compilation of details of showings, deposits and locations may be
viewed on Sama's website at:
http://www.samaresources.com/i/pdf/Sama_Corporate_Presentation.pdf.


The exploration and drill program at Sama's Samapleu Extension 1 Deposit was
designed by Dr. Marc-Antoine Audet, P.Geo and President and CEO of Sama. Sama is
led by a management team well experienced in base metal exploration and
development with a long history of working in Africa. Sama is well funded with
approximately CAN$2.7 Million in cash.


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.


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 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 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
including those described in the audited annual consolidated financial
statements and accompanying management discussion and analysis.


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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Sama Resources Inc.
Dr. Marc-Antoine Audet
President and CEO
(514) 726-4158


Sama Resources Inc.
Mr. Matt Johnston
(604) 443-3835 or Toll Free: 1 (877) 792-6688, Ext. 4
(604) 682-3860 (FAX)
www.samaresources.com

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