VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug 14, 2013) - Sama Resources Inc. (TSX VENTURE:SME) -
Highlights
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Surface InfiniTEM geophysical survey has commenced at the newly discovered Yepleu prospect located 18 kilometres southwest of the Samapleu Deposits where surface showings grading up to 1.39% nickel and 2.26% copper have recently been sampled (using a hand-held Niton XRF analyzer)
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Purpose of surveys are to delineate semi-massive and massive material at depths of up to 1,000 metres
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Drilling is expected to commence in September at the new Yepleu prospect
Sama Resources Inc. ("Sama" or the "Company") is pleased to announce that Abitibi Geophysics Inc. ("Abitibi") has completed an InfiniTEM ground geophysical survey ("InfiniTEM Survey") on the Samapleu Main and the Samapleu Extension 1 Nickel-Copper-Palladium Deposits ("Samapleu Deposits") in Côte d'Ivoire, West Africa. In addition, Abitibi has initiated an InfiniTEM survey on the newly discovered Yepleu prospect ("Yepleu") located 18 kilometres ('km") southwest of the Samapleu Deposits. In preparation for the survey, a 36-km grid has been cut at the Samapleu Deposits which encapsulates significant areas of exploration interest on the known Deposits as well as a 24-km grid cut at Yepleu. The Yepleu InfiniTEM survey will take approximately 22 days to complete and results are expected within a month of completion.
The purpose of the surveys are to delineate semi-massive and massive material at depths of up to 1,000 metres ("m") and to compliment the results of the Helicopter Time-Domain Electromagnetic & Magnetic ("HTEM") airborne survey and surface sampling activities the Company has undertaken over the past several months. These InfiniTEM surveys can play an important role in the discovery process as these Deposits are typically very conductive and magnetic in character.
The detailed geophysical interpretation of the recently completed 3,300 line/km airborne HTEM Survey previously defined over part of the Company's Samapleu exploration license ("Samapleu Project") has identified more than 20 high priority targets for nickel-copper-palladium exploration. Strong HTEM survey conductors were identified at the Samapleu Deposits as well as along a corridor of more than 25 km oriented northeast-southwest. Mapping has shown that the Samapleu Project contains a cluster of differentiated intrusions with nickel-copper-cobalt-platinum-palladium-rhodium mineralization typical of magmatic environments and analogous to well-known world class Deposits such as Noril'sk, Kabanga and N'Komatie.
To date, exploration at the Samapleu Project has focused mainly on shallow targets (less than 150 m in depth) at the Samapleu 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 additional nickel-copper sulphide Deposits.
The recent discovery of surface showings grading up to 1.35% nickel and 2.26% copper (using a hand-held Niton XRF analyzer) at Yepleu is one of a multitude of prominent HTEM targets, located 18 km southwest of the Samapleu Deposits. Sama anticipates that drilling Yepleu will commence in September 2013 (please refer to June 06, 2013 press release). The reader is invited to view the figure showing the highly prospective HTEM targets together with the location of the mineralized showing at:
http://www.samaresources.com/i/projects/samapleu/Samapleu_compilation.png
New Drill Rig
The Company has purchased a second Coretech CSD 1300G core drill rig which is adept in drilling up to 700 m below surface. The new drill rig is expected to be in service at the beginning of September 2013 and will be used to fast track the exploration drilling program at the Samapleu Project. Exploration costs per metre of drilling have already been significantly reduced since the Company purchased its first Coretech drill rig in December 2012.
The Samapleu Project
The Samapleu Project is currently in a relatively advanced exploration phase. Future exploitation will be managed by a joint venture currently controlled 66 2/3% by Sama Nickel Corporation, a wholly-owned subsidiary of the Company, and 33 1/3% by Société pour le Développement Minier de Côte d'Ivoire.
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.
The reader is invited to review Sama's updated compilation on its website at:
http://www.samaresources.com/i/pdf/Sama_Corporate_Presentation.pdf
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.
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 the Company'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 the Company, or industry results, to vary or 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 the Company'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 are 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, the Company 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.
