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Fri, September 21, 2012
Thu, September 20, 2012 Sama Resources Intersects up to 29.0 Metres at 1.95% Nickel at its Newly Discovered Gogota Deposit at its Lola Project in Guine
September 20, 2012 07:00 ET
Sama Resources Intersects up to 29.0 Metres at 1.95% Nickel at its Newly Discovered Gogota Deposit at its Lola Project in Guinea
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 20, 2012) -Sama Resources Inc. (TSX VENTURE:SME) ("Sama") is pleased to announce assay results for 13 additional holes drilled at its newly discovered nickel-cobalt rich laterite deposit (the "Gogota Deposit"), within its "Lola Project" in eastern Guinea, West Africa, located adjacent to Sama's Samapleu Project across the border in Côte d'Ivoire.
In April 2012, Sama commenced a drill program for approximately 1,500 metres ("m") at its newly discovered Gogota Deposit. Assay results for 17 holes have been received. Drilling is ongoing at the Gogota Deposit. Table 1 below shows mineral intercepts for these 17 drill holes.
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 for these 27 laterite plateaus is 7.8 square kilometres.
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, Côte 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.
| Table 1: Mineral intercepts for 17 holes drilled at the Gogota Deposit. Intercepts were defined using 1.0% nickel cut-off grades. | ||||||||||
| HOLE-ID | SEQUENCE | FROM | TO | LENGTH | Nickel | Cobalt | Iron | MGO | SIO2 | Scandium |
| m | m | m | % | % | % | % | % | Grams/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 |
| GG24-800400 | 18 | Results pending | ||||||||
| GG34-400200 | 19 | Results pending | ||||||||
| GG34-800600 | 20 | Results pending | ||||||||
| GG44-800200 | 21 | Results pending | ||||||||
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 Guinea is currently in its exploration phase. The exploration licenses for the Lola Project in Guinea 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.
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.
