Sama Identifies High Priority HTEM Ni and Cu Exploration Targets Over a 25 KM-long Corridor and Intersects 156 Metres at 0.30...
April 10 2013 - 6:00AM
Marketwired Canada
Highlights:
-- 20 highly prospective new HTEM Survey target zones outlined over a 25
km-long corridor.
-- SM25-112555 intersected 156 metres grading 0.30% nickel, 0.27% copper,
0.75 gpt palladium and 0.14 gpt platinum, including an interval of 2.2
metres grading 1.25% nickel, 1.19% copper, 2.0 gpt palladium and 0.16
gpt platinum.
-- SM25-184483 (incomplete results) returned 68 metres grading 0.28%
nickel, 0.20% copper, 0.53 gpt palladium and 0.10 gpt platinum,
including an interval of 4.6 metres grading 1.05% nickel, 0.89% copper,
1.62 gpt palladium and 0.24 gpt platinum.
Sama Resources Inc. (TSX VENTURE:SME) ("Sama" or the "Company") is pleased to
announce the detailed geophysical interpretation of the recently completed 3,300
line/kilometre airborne helicopter time domain electromagnetic and magnetic
survey (the "HTEM Survey") over part of the Company's Samapleu Exploration
License in Cote d'Ivoire, West Africa. The HTEM Survey returned more than 20
high quality targets for nickel-copper exploration.
Strong HTEM Survey conductors were identified at the Samapleu Main and Samapleu
Extension 1 Deposits and along a corridor of more than 25 kilometres oriented
northeast-southwest. Drilling of these regional targets will start shortly.
The Samapleu Project represents a cluster of differentiated intrusions with
mineralization typical of magmatic nickel-copper analogous to well known world
class deposits; Noril'sk, Kabanga, N'Komatie, etc. To date, exploration at the
Samapleu Project has focused mainly on shallow targets (less than 150 metres
deep) at the Samapleu Main and Samapleu Extension 1 Deposits, returning
centrally located massive sulphide vein stockworks encased in a thick halo of
disseminated sulphide. Nickel and copper tenors of up to 4-5% and 6-8%,
respectively, were obtained in massive sulphide material. The HTEM Survey
clearly demonstrates the discovery potential for high grade massive
nickel-copper sulphide deposits. The reader is invited to view the figure
showing the highly prospective HTEM target zones at
http://www.samaresources.com/i/projects/samapleu/Samapleu_HTEM.png.
The Company is also pleased to announce that hole SM25-112555 intercepted a
mineralized zone of 156 metres grading 0.30% nickel, 0.27% copper, 0.75 grams
per tonne ("gpt") palladium and 0.14 gpt platinum at the Samapleu Extension 1
Deposit. The interval begins 31 metres from surface and includes several
semi-massive high grade sulphide lenses, including 2.2 metres grading 1.25%
nickel, 1.19% copper, 2.0 gpt palladium and 0.16 gpt platinum.
Hole SM25-184483, assays for the bottom half of which are still awaited,
intercepted a mineralized zone of 67 metres grading 0.28% nickel, 0.20% copper,
0.75 gpt palladium and 0.14 gpt platinum. The interval begins 42 metres from
surface and includes several semi-massive high grade sulphide lenses, including
4.6 metres grading 1.05% nickel, 0.89% copper, 1.62 gpt palladium and 0.24 gpt
platinum.
Both holes, together with 5 new holes (results are awaited), form part of the
additional 230 metre-long strike at the northeast end of the known Samapleu
Extension 1 nickel-copper Deposit. Both holes were drilled vertically; true
widths are not known at this time.
Mineralization is still open at depth. Drilling 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 mineralized intercepts. Intercepts
were defined using 0.1% nickel cut-off grades.
----------------------------------------------------------------------------
FROM TO LENGTH Nickel Copper Cobalt Platinum Paladium
HOLE-ID m m m % % % gpt gpt
----------------------------------------------------------------------------
SM25-112555 32.00 82.00 50.00 0.31 0.26 0.02 0.11 0.51
86.20 191.8 105.6 0.30 0.28 0.02 0.16 0.86
Including 2.20 1.25 1.19 0.02 0.16 2.00
SM25-184483 42.50 110.10 67.60 0.28 0.20 0.02 0.10 0.53
Including 4.55 1.05 0.89 0.02 0.24 1.62
110.00 129.00 19.00 Awaited
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.
SM25-096647 66.33 157.75 91.42 Awaited Highly disseminated sulphide (3-
40%) and numerous additional
stringers of semi-massive sulphide
SM25-063682 73.05 148.10 75.05 Awaited Highly disseminated sulphide (3-
60%) 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.
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. Sama is led by a
management team well experienced in base metal exploration and development with
a long history of working in Africa.
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
Sama Resources (TSXV:SME)
Historical Stock Chart
From Jun 2024 to Jul 2024
Sama Resources (TSXV:SME)
Historical Stock Chart
From Jul 2023 to Jul 2024
