VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 01/16/13 -- Sama Resources Inc. (TSX VENTURE: SME) ("Sama" or the "Company") -
-- 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 19SM19-467515 218 226 22 188 166 Disseminated sulphide (trace to 15%) with stringers of semi-massive sulphideSM28-504085 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 sulphideSM25-112555 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.
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.
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.
Sama Resources Inc.
Dr. Marc-Antoine Audet
President and CEO
Mr. Matt Johnston
1 (877) 792-6688, Ext. 4