23:13:03 EDT Tue 21 May 2019
Enter Symbol
or Name
USA
CA



Sama Resources Inc
Symbol C : SME
Shares Issued 191,166,410
Close 2019-02-14 C$ 0.28
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Sama drills 37 m of 0.41% Ni, 0.31% Cu at Yepleu

2019-02-14 07:17 ET - News Release

Dr. Marc-Antoine Audet reports

SAMA ANNOUNCES PGE ASSAY RESULTS FOR NEW MINERALIZED ZONE AT YEPLEU

The mineralized interval from Sama Resources Inc.'s first deep hole, YE29-556043 (see press release of Dec. 12, 2018), returned results, with a combined 5.2 metres of semi-massive sulphides grading 1.16 per cent nickel, 0.62 per cent copper, 0.24 gram per tonne palladium and 0.21 g/t platinum (using a cut-off-grade of 0.8 per cent nickel) within a larger interval of 37 m of disseminated sulphide mineralization grading 0.41 per cent nickel, 0.31 per cent copper, 0.23 g/t palladium and 0.17 g/t platinum.

An image on the company's website shows that the hole hit the upper edge of the Typhoon electromagnetic geophysical survey target, leaving the remaining bottom two-thirds and the centre untested.

"We are very pleased with the accuracy and results using the Typhoon system. On the very first drill hole and the very first Typhoon loop; the platinum values using the deep drilling are quite surprising as the palladium is typical of the mineralization seen at Samapleu but the platinum is significantly more elevated and constant than at Samapleu. We look forward to pinpointing new zones using Typhoon as we continue our deep drilling program at Yepleu," stated president and chief executive officer Dr. Marc-Antoine Audet.

The current 6,000 m drilling program designed to test high-conductivity targets defined by the phase 1 Typhoon continued at the 100-per-cent-owned Yepleu property at the company's nickel-copper-cobalt-palladium project in Ivory Coast, West Africa. The drilling program is targeting semi-massive and massive polymetallic sulphide anomalies identified by Typhoon at depths ranging from 600 m to 900 m from surface.

The mineralization encountered in the hole is characterized by aggregates of the nickel, copper and iron sulphides pentlandite, chalcopyrite and pyrrhotite, respectively. Pentlandite occurs together with pyrrhotite, while the chalcopyrite is either mixed with the pentlandite and pyrrhotite or occurs as late millimetric to centimetric sulphide veins crosscutting the pentlandite and pyrrhotite.

Contacts between the semi-massive sulphides and the mineralized pyroxenite and gabbroic host rocks are irregular but sharp and often show brecciated textures. This indicates that these sulphide lenses have intruded the host rocks and originated from a source that is yet to be discovered.

Phase 2 Typhoon survey

The phase 2 Typhoon survey will start in February in additional sectors at the Yepleu and Grata properties based on results from the 2,889-line-kilometre airborne helicopter time-domain electromagnetic and magnetic survey (HTEM survey) completed in 2018.

Sama selected the Yepleu and Grata areas for this second phase of HPX's Typhoon survey due to the high-quality HTEM responses as well as the prospective geological setting. The Yepleu and Grata prospects are located 25 km apart.

The Yepleu mineralization is similar to conduit-hosted nickel deposits found elsewhere. These rare types of intrusions host the world's largest nickel-copper deposits such as Jinchuan (515 million tonnes at 1.06 per cent nickel), Voisey's Bay (137 million tonnes at 1.68 per cent nickel), Kabanga (52 million tonnes at 2.65 per cent nickel), Eagle (4.5 million tonnes at 3.33 per cent nickel), Eagle's Nest (20 million tonnes at 1.68 per cent nickel), Kalatongke (24 million tonnes at 0.68 per cent nickel) and N'komati (2.8 million tonnes at 2.08 per cent nickel).

Sama discovered the nickel-copper-cobalt-palladium mineralization when it discovered the Yacouba layered complex of mafic and ultramafic rock. This layered complex was created approximately 2.1 billion years ago by the intrusion of magma through the Man shield. The Yacouba complex can be traced over a strike length of more than 50 km within Sama's properties in Ivory Coast.

Core logging and sampling were performed at Sama's facility at the Yepleu field facility. Sample preparation was conducted at the Bureau Veritas Mineral Laboratory's facility in Abidjan. Sample pulps were delivered to Activation Laboratories Ltd., Ancaster, Thunder Bay, for assaying. All samples were assayed for nickel, copper, cobalt, platinum, palladium, gold, iron and sulphur.

Warrant and stock option exercise

The company is also pleased to report that certain officers, directors, advisers and employees of the company have elected to exercise 740,000 stock options which were set to expire on Jan. 21, 2019. The stock options were exercised at a price of 23 cents per optioned share with gross proceeds received by the company of $170,200. The company also reports that one million non-transferable common share purchase warrants of Sama have been exercised prior to the scheduled expiry date of July 29, 2021. The warrants were exercised at a price of 15 cents per warrant share for total proceeds of $150,000 (for a combined total of $320,200).

About Sama Resources Inc.

Sama Resources is a Canada-based mineral exploration and development company with projects in West Africa. Sama Resources holds a control position in SRG Graphite of 24,658,267 shares, representing 35.54 per cent of the issued and outstanding shares of SRG Graphite, and is considered an insider for reporting purposes.

The technical information in this release has been reviewed and approved by Dr. Marc-Antoine Audet, PGeo, president and chief executive officer of Sama, a qualified person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects.

We seek Safe Harbor.

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