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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 up to 32 Metres at 1.67% Nickel at the Newly Discovered Gogota Laterite Plateau at its Lola Project in Guinee

07/03/2013 11:00am

Marketwired Canada


Sama Resources Inc. (TSX VENTURE:SME) ("Sama") is pleased to announce assay
results for 4 additional holes drilled at the newly discovered nickel-cobalt
rich laterite deposit (the "Gogota Deposit") within its Lola Project in eastern
Guinee, West Africa, located adjacent to Sama's Samapleu Project across the
border in Cote d'Ivoire. Assay results for 21 holes have been received so far.


A total of 27 new prospective laterite plateaus have been identified at the Lola
Project since the start of the regional exploration program in April 2011. The
combined surface area of the 27 laterite plateaus is 7.8 km2.


Sama's 2011-2012 exploration work found, at surface, numerous Samapleu-type
pyroxenite and gabbro occurrences (typical hosts for nickel-copper massive
sulphide mineralization at the Samapleu nickel-copper deposits in Cote
d'Ivoire), through Sama's systematic stream sediments sampling and surface
geological mapping. The combination of these newly found nickel rich laterite
plateaus, together with pyroxenite and gabbro occurrences found at surface, are
clear indications of the highly prospective potential for base metals in Sama's
Lola Project. Exploration work is continuing.


Drilling was performed using 2 Jacro 175 core drill rigs owned by Sama. Core
logging and sampling were performed at Sama's facility in Gogota village. Sample
preparations were performed by Bureau Veritas Mineral Laboratory's facility in
Abidjan, Cote d'Ivoire ("BVML"), and then dispatched by BVML directly to their
assay laboratory, Inspectorate Metals and Minerals, in Rustenburg, South Africa.
All samples were assayed for nickel, cobalt and all major oxides using peroxide
fusion XRF. Scandium has been determined by inductively coupled plasma optical
emission spectrometry.


The table set out below shows the details of the mineralized intervals for 21
holes drilled at the Gogota Deposit. Intervals were defined using 1.0% nickel
cut-off grades.




----------------------------------------------------------------------------
                                                                    Scandium
           SEQU-  FROM    TO LENGTH Nickel Cobalt  Iron   MGO  SIO2   Grams/
HOLE-ID     ENCE     m     m      m      %      %     %     %     %    tonne
----------------------------------------------------------------------------
GG34-800400    1 16.00 27.00  11.00   1.49   0.10 33.44 12.30 23.33       34
GG34-800800    2  5.50 27.50  22.00   1.43   0.14 47.98  2.94  8.63       31
GG34-800200    3  8.00 37.00  29.00   1.67   0.14 35.99  8.78 21.60       29
GG35-400600    4  8.00 23.50  15.50   2.39   0.08 34.45 12.27 23.24       22
September 13, 2012:                                                         
GG35-400800    5  6.00 22.50  16.50   1.36   0.15 44.05  5.10 11.76       29
GG45-400200    6  5.70 15.10   9.40   1.41   0.11 35.70 11.84 20.92       38
GG44-800400    7                  Outside the deposit                       
GG25-400200    8  4.00 22.50  18.50   1.42   0.14 53.69  0.30  5.83       31
GG25-400400    9 16.50 45.50  29.00   1.95   0.10 39.16  9.34 15.57       28
GG25-400600   10  6.00 23.00  17.00   1.34   0.15 49.81  0.74  4.40       29
GG25-400800   11  5.00 25.80  20.80   1.22   0.14 50.50  0.66  4.18       25
GG35-400200   12  2.40 22.00  19.60   1.67   0.11 33.47 11.39 19.34       22
GG35-400400   13  2.10 13.65  11.55   1.32   0.17 46.01  5.00 10.16       33
GG35-800400   14                   Below cut-off grade                      
GG24-800800   15  4.00 29.00  25.00   1.44   0.12 44.13  6.81 12.36       30
GG24-400800   16 27.50 29.50   2.00   1.11   0.02 13.50 11.26 41.65       20
GG24-800600   17  8.20 30.80  22.60   1.29   0.21 51.64  0.45  8.47       29
Newly received assay results:                                               
GG24-800400   18  3.20 35.50  32.30   1.67   0.11 35.25 10.40 20.64       33
GG34-400200   19  7.00 29.85  22.85   1.30   0.18 51.42  0.72  4.25       38
GG34-800600   20 10.50 28.00  17.50   1.67   0.14 40.20  5.86 16.52       29
GG44-800200   21  1.50 28.40  26.90   1.59   0.11 39.13  6.40 13.73       37
----------------------------------------------------------------------------



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 Lola Project in Guinee is currently in its exploration phase. The
exploration licenses for the Lola Project are exclusively held by a wholly-owned
subsidiary of Sama.


The exploration and drill program at Sama's Gogota Deposit was designed by Dr.
Marc-Antoine Audet, P.Geo and President and CEO of Sama. 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 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
www.samaresources.com

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