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Tue, March 5, 2013 Sama Intersects 1.88% Nickel, 0.78% Copper and 2.84 GPT Palladium Over 11 Metres at Samapleu Project in Cote d'Ivoire
March 05, 2013 07:00 ET
Sama Intersects 1.88% Nickel, 0.78% Copper and 2.84 GPT Palladium Over 11 Metres at Samapleu Project in Cote d'Ivoire
Highlights: -- SM25-112519 intersected 122 metres grading 0.44% nickel, 0.32% copper, 0.03% cobalt, 0.94 gpt palladium and 0.17 gpt platinum, including an 11 metre interval grading 1.88% nickel, 0.78% copper, 0.09% cobalt, 2.84 gpt palladium and 0.31 gpt platinum. -- Invitation to PDAC Booth 2602.
VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 5, 2013) -Sama Resources Inc. (TSX VENTURE:SME) ("Sama" or the "Company") is pleased to announce that drill hole SM25-112519 intersected a continuous mineralized zone of 122 metres grading 0.44% nickel, 0.32% copper, 0.03% cobalt, 0.94 grams per tonne ("gpt") palladium and 0.17 gpt platinum at the Samapleu Extension 1 Deposit in Côte d'Ivoire, West Africa.
The interval begins 22 metres from surface and includes several semi-massive high grade sulphide lenses, including an interval 11 metres thick grading 1.88% nickel, 0.78% copper, 0.09% cobalt, 2.84 gpt palladium and 0.31 gpt platinum at 84.9 metres from surface.
As stated in Sama's News Release dated February 28, 2013, 5 new holes have also intersected mineralization in the same area, adding an additional 230 metre-long strike at the northeast end of the known Samapleu Extension 1 Deposit.
Hole SM25-112519 was drilled vertically; true widths are not known at this time. Mineralization is still open at depth. Drilling using Sama's own drill rig 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 the mineralized intervals at the Samapleu Extension 1 Deposit. Intervals were defined using 0.1% nickel cut-off grades.
| HOLE-ID | FROM | TO | LENGTH | Nickel | Copper | Cobalt | Platinum | Palladium | ||
| m | m | m | % | % | % | gpt | gpt | |||
| SM25-112519 | 22.00 | 144.00 | 122.0 | 0.44 | 0.32 | 0.03 | 0.17 | 0.94 | ||
| Including | 84.9 | 95.9 | 11.00 | 1.88 | 0.78 | 0.09 | 0.31 | 2.84 | ||
| SM25-112555 | 32.00 | 82.00 | 50.00 | Awaited | Disseminated to highly disseminated sulphide with stringers of semi-massive sulphide. | |||||
| SM25-184483 | 110.00 | 129.00 | 19.00 | Awaited | Disseminated to highly disseminated sulphide with stringers of semi-massive sulphide. | |||||
| 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. | |||||
Core logging and sampling were performed at Sama's facility in Yorodougou village. Sample preparations were performed at Société de Développement 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, Côte 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.
Invitation to 2013 PDAC Booth
Sama is also pleased to announce that it is exhibiting at this year's Prospectors and Developers Association of Canada (PDAC) in Toronto. Dr. Marc-Antoine Audet will be addressing investor questions and providing information on the Samapleu Project at its exhibitor Booth 2602 (Session B).
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 exploration and drill program at Sama's Samapleu Extension 1 Deposit 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. Sama is well funded with approximately CAN$2.7 Million in cash.
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.
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.
