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Enter Symbol
or Name
USA
CA



Sama Resources Inc
Symbol SME
Shares Issued 188,426,410
Close 2018-07-27 C$ 0.30
Market Cap C$ 56,527,923
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Sama moves equipment to Yepleu for Typhoon survey

2018-07-30 08:15 ET - News Release

Dr. Marc-Antoine Audet reports

SAMA ANNOUNCES MOBILIZATION OF THE TYPHOON GEOPHYSICAL SURVEY AT ITS YEPLEU NICKEL-COPPER-COBALT-PALLADIUM PROJECT IN COTE D'IVOIRE, WEST AFRICA

Sama Resources Inc. has mobilized and started phase 1 of the Typhoon electromagnetic geophysical survey at the Yepleu nickel-copper-cobalt-palladium project in Ivory Coast, West Africa. As reported in the company's May 31, 2018, news release, the Typhoon survey will start on site within the next 10 days.

Sama is exploring the Yepleu project through a strategic partnership with HPX TechCo Inc., a private mineral exploration company in which mining entrepreneur Robert Friedland is a significant stakeholder.

"We are very excited to test the capabilities of Typhoon in such a unique ultramafic environment like Yepleu. HPX's technology and in-house expertise give us a huge advantage in defining this new discovery," stated Dr. Marc-Antoine Audet, president and chief executive officer of Sama.

Dr. Audet added: "The Typhoon survey and data acquisition system is the most accurate and powerful induced polarization and electromagnetic geophysical survey technology available to mineral explorers today. Typhoon technology provides better quality primary signal, allowing for higher resolution, larger scale and deeper detection than existing technology."

Despite the current rainy season in Ivory Coast, the Typhoon survey will proceed as planned to follow on positive results from the 2,889-line-kilometre airborne helicopter time domain electromagnetic and magnetic survey (HTEM survey) completed in February, 2018, over the Samapleu and Yepleu areas.

Several new prospective zones strongly associated with magnetic anomalies were identified from the current HTEM survey. These new sectors add to the prospective areas already identified from the previous Fugro survey.

Sama and HPX have selected the Yepleu area for the phase 1 of the Typhoon ground survey for its high-quality HTEM response as well as the prospective geological setting. It is at the Yepleu area that Sama made the first discovery of nickel-copper sulphide mineralization at surface in West Africa with material grading up to 1.39 per cent nickel and 2.26 per cent copper sulphide (tested using a hand-held Niton XRF (X-ray fluorescence) analyzer) (see company's press release dated June 6, 2013). The Yepleu area is located 18 kilometres southwest of the Samapleu nickel-copper deposit.

Stock options granted

The company is pleased to announce that, pursuant to its stock option plan and subject to regulatory acceptance, it has granted an aggregate total of 340,000 incentive stock options to certain officers, employees and consultants of the company, subject to certain vesting provisions. These options will be exercisable at a price of 30 cents per common share and will expire on July 29, 2028.

About Sama Resources Inc.

Sama is a Canada-based mineral exploration and development company with projects in West Africa.

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