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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 Resources Intersects 122 metres of Highly Disseminated Nickel-Copper Mineralization

16/01/2013 11:00am

Marketwired Canada


Sama Resources Inc. (TSX VENTURE:SME) ("Sama" or the "Company") - 

Highlights:



--  Hole SM25-112519: 122 metres of nickel-copper disseminated sulphide
    mineralization including 10 metres of semi-massive (50%-75%) material,
    open laterally and at depth (Samapleu Extension 1) 
    
--  Hole SM19-467515, returned 166 metres of disseminated mineralization
    with stringers of highly disseminated to semi-massive sulphide materials
    at the newly discovered SM19 Sector 
    
--  Nickel-Copper surface mineralization strike length enhanced at Samapleu
    Extension 1 Deposit 
    
--  Aggressive 12,000 m exploration program planned for 2013 



Sama Resources Inc. is pleased to announce progress of its 12,000 metres ("m")
Phase IV drilling program (using Sama's new 100% owned drill rig) at the
Samapleu Project in Cote d'Ivoire, West Africa. The drilling program is designed
to tests regional targets and to increase mineral strike length of the known
poly-metallic deposits; the "Samapleu Main deposit" and the "Samapleu Extension
1 deposit (Zone 24)". The drilling program is expected to last the remainder of
2013. 


Three boreholes have been completed to date (with one currently in progress) for
a total of 640 m.


Borehole SM25-112519, drilled 50 m north-east from the last hole at the Samapleu
Extension 1 deposit intersected 122 m of nickel and copper rich disseminated
sulphide mineralization starting from 21 m vertically from surface including a
10 m lens of semi-massive material at 85 m from surface. The semi-massive
material is composed of 50% to 75% of a combination of pyrrhotite, pentlandite
and chalcopyrite. Pentlandite occurs as large inclusions in pyrrhotite. Spot
checks using a handheld Niton XRF portable analyzer returned elevated nickel and
copper values. Assay results are expected in approximately 8 to 10 weeks.


This hole increases the strike length of the Zone 24 by at least 75 m to the
north-east and remains open laterally and at depth.


Borehole SM19-467515, drilled at the newly discovered Yorodougou Complex "SM19
Sector", returned 166 m of disseminated mineralization with stringers of highly
disseminated to semi-massive sulphide materials. Mineralization started at 22 m
from surface.


The reader is invited to view the figure showing the locations of the drill
holes at: http://www.samaresources.com/i/misc/Samaintersects122metres.png


All boreholes were drilled vertically; consequently true widths of these
mineralized zones have not been established at this point. 


Table 1 shows the visual mineralization estimates for the 4 holes drilled to
date during the Phase IV drilling program.




----------------------------------------------------------------------------
                                                Visual estimate             
                          Hole                  Sulphides                   
                        length FROM   TO LENGTH (Pyrrhotite/Pentlandite/
HOLE-ID      SEQUENCE        m    m    m      m Chalcopyrite)              
----------------------------------------------------------------------------
Sector 19                                                                   
SM19-467515       218      226   22  188    166 Disseminated sulphide (trace
                                                to 15%) with stringers of   
                                                semi-massive sulphide       
                                                                            
SM28-504085       219       65   12   52     40 Disseminated sulphide (trace
                                                to 15%)                     
                                                                            
Samapleu Extension 1 Deposit (Zone 24)                                      
                                                                            
SM25-112519       220      180   21  143    122 Highly disseminated sulphide
                                                (3-30%) with 10 m of semi-  
                                                massive sulphide (50-75%)   
                                                and numerous additional     
                                                stringers of semi-massive   
                                                sulphide                    
                                                                            
SM25-112555       221       In   32 170+   138+ Disseminated (trace to 15%) 
                      progress                  to highly disseminated      
                                                sulphide with stringers of  
                                                semi-massive sulphide       
----------------------------------------------------------------------------



The Company initiated a Preliminary Economic Assessment study ("PEA") to
evaluate a possible mining operation at its "Samapleu Project" in Cote d'Ivoire,
West Africa (Please see December 4th, 2012 Sama Press Release). The PEA will be
based on a revised resource database that has been updated since the NI 43 101
Technical Report on the Samapleu Nickel Copper Deposits, Cote d'Ivoire, West
Africa, dated July 20, 2012 (the "Technical Report"). The Technical Report was
the Company's maiden mineral resource estimate on the Samapleu Main Deposit and
the Samapleu Extension 1 Deposit, which comprise the Samapleu Project. Since the
date of the Technical Report, a total of 2,069 samples have been added to the
database, which includes 110 boreholes totalling 17,143 metres for a total of
7,835 assay samples. The PEA is being conducted by the engineering group GENIVAR
Inc. of Montreal, Quebec Canada.


Core logging and sampling were performed at Sama's facility in Yorodougou
village. Sample preparations for the nickel-copper exploration program 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 are being 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.


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 Samapleu Project in Cote d'Ivoire is currently in its exploration phase. Any
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
SODEMI.


The exploration and drill program at Sama's Samapleu Deposits 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 NI 43-101.


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. 


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
www.samaresources.com


Mr. Matt Johnston
(604) 443-3835
1 (877) 792-6688, Ext. 4

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