(TheNewswire)
Starting June 01, five drilling rigswill be in operation at the Grata and Samapleu deposits.
Highlights
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GR-06B: returned 60.15 m at 0.36% Ni,0.40% Cu, 0.53 gpt Pd including 7.70m at 1.28%Ni, 1.45% Cu and 1.92gpt Pd
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GR-06C: returned 116.15 m at 0.26%Ni, 0.25% Cu, 0.62 gpt Pd including 9.05m at 0.81%Ni, 0.84% Cu and1.03 gpt Pd
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GR-08: returned 297.64m at 0.24% Ni,0.20% Cu, 0.23 gpt Pd including:
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2.85m @ 1.68%Ni, 1.28% Cu and 1.12gpt Pd
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4.25m @ 0.82%Ni, 0.55% Cu and 0.56gpt Pd
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2.65m @ 1.47%Ni, 1.82% Cu and 1.19gpt Pd
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GR-11: returned 212 m at 0.28% Ni,0.30% Cu 0.32 gpt Pd
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8.20m @ 0.84% Ni, 1.10% Cu 1.24gpt Pd
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+ numerous narrowmassive and semi-massive stringers
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Results are pending for 11 holesdrilled at Grata since January 2022.
Montréal, Quebec – TheNewswire - May 26, 2022 – Sama Resources Inc. (“Sama” or the “Company”) (TSXV:SME ) ( OTC:SAMMF) ispleased to announce additional drilling results from the 2021-22drilling campaign at the newly discovered Grata Nickel(“ Ni ”) – Copper (“ Cu ”) – Palladium (“ Pd ”) prospect(“ Grata ”). As of this Press Release, Sama has drilled a total of23 drill holes for 7,673 meters (“ m ”) at the Gratadiscovery. Assay results for holes GR-06B, GR-06C, GR-08 and GR-11 aresummarized in this PR and in Table 1.
A 5,000m drilling contract was awarded toForaco-Foremi, an Ivorian drilling contractor, for suppling 2 drillingrigs to the Grata project starting June 01. There will then be 5drilling rigs operating at the project site.
“ Using fivedrilling rigs at Grata and Samapleu will allow Sama to fast trackdefinition drilling at both sites aiming for a revised mineralresource estimate in Q3 ” stated Dr.Marc-Antoine Audet, President & CEO of Sama Resources Inc. Dr.Audet added: By selling5.6M shares of SRG Mining (ref: Press Release dated May 18, 2022) foralmost C$4.0M, Sama is continuing to fulfill its objective offinancing exploration at our various project sites without furtherdilution to shareholders. The use of proceeds is for advancing SamaResources Quebec’s (SRQ) nickel-copper-platinoids project at LacBrulé and for project generation. ”
Table 1 summarizes results for the 2021-22 drilling campaign. Assays resultsfor 11 holes drilled since January are pending. All measurements arecore lengths and may not represent true geological widths.
Grata: Latest discovery in theYacouba Mafic-Ultramafic (“UM”) Intrusive Complex
In September 2021, Sama announced the Grata discoverylocated 5 kilometers (“ km ”) east of the Samapleu deposit.
The discovery hole, GR-03, drilled in June 2021,returned a 310 m sequence of pyroxenite and gabbro containing a 147 minterval of disseminated sulfides and several intersections ofsemi-massive sulphide mineralization. The second hole GR-04confirmed the width of the mineralized zone, with a 141 m mineralizedintersection including 6.40 m and 6.60 m intervals grading 1.05% Ni, 1.28% Cu & 0.48 gpt Pd and 0.73%Ni, 0.38% Cu & 0.30 gpt Pd respectively. Hole GR-05 returned 117m @ 0.29% Ni, 0.31% Cu & 0.42 gpt Pd.Hole GR-06 included 14.10m at 0.86% Ni, 1.49% Cu and 1.38 gpt Pdwithin a larger interval of 128m at 0.30% Ni, 0.35% Cu & 0.47 gptPd. Hole GR-07 returned 22m at 0.41% Ni, 0.28% Cu and 0.43 gptPd.
Three holes were drilled form the GR-06 location inorder to better understand the geometry of the mineralized zones. HoleGR-06B returned 60.15 m at 0.36% Ni, 0.40% Cu, 0.53 gpt Pd including7.70m at 1.28% Ni, 1.45% Cu and 1.92 gpt Pd and hole GR-06C returned116.15 m at 0.26% Ni, 0.25% Cu, 0.62 gpt Pd including 9.05m at0.81%Ni, 0.84% Cu and 1.03 gpt Pd. Results for hole GR-06D are stillpending.
Hole GR-08 returned 297.64m at 0.24% Ni, 0.20% Cu, 0.23gpt Pd including 2.85m @ 1.68% Ni, 1.28% Cu and 1.12 gpt Pd, 4.25m @0.82% Ni, 0.55% Cu and 0.56 gpt Pd and 2.65m @ 1.47% Ni, 1.82% Cu and1.19 gpt Pd. Hole GR-11 returned 212 m at 0.28% Ni, 0.30% Cu and 0.32gpt Pd including 8.20m @ 0.84% Ni, 1.10% Cu and 1.24 gpt Pd, withseveral narrow massive and semi-massive stringers scattered along themineral interval.
All measurements are core length.
The mineralization at Grata is similar in compositionto the Samapleu deposit (“ Samapleu ”) but shows a larger proportion ofchalcopyrite and therefore a higher Cu to Ni ratio. This relationshipbetween Cu and Ni is particularly evident in the GR-06 mineralizedzones ( Figure 3 ).
The Company is looking at increasing mineral resourcesat Samapleu and Grata for a future surface mining operation as well assearching for massive sulphide veins and lenses that could haveaccumulated at depth in traps and embayments along the feeder systemof the Yacouba UM Intrusive Complex.
Figure 1: Newly discovered zone at Grata is located 5km east of Samapleu showing results for GR-06B, -06C, -08 and-11.
Figure 2: Cross-section SW-NE at Grata showingresults to date for the 2021-22 drilling campaign, Assay results for11 holes are still pending. The GR-08 holeremained within the Yacouba UM complex for 297 m with mineralizationranging from disseminated to numerous intervals of massive tosemi-massive Ni-Cu rich sulphide veins and stringers.
Table 1: Summary of 2021-22 drilling program at Grata (all intersections are incore lengths)
Co re logging and sampling wasperformed at Sama’s Samapleu and Yepleu field facilities. Samplepreparation was conducted at the Bureau VeritasMineral Laboratory in Abidjan . Sample pulps were delivered toActivation Laboratories Ltd, Ancaster and Thunder Bay, Ontario,Canada, for assaying. Allsamples were assayed for Ni, Cu, Co, Pt, Pd, Au, Fe and S.
The technical information in this release has beenreviewed and approved by Dr. Marc-Antoine Audet, Ph.D Geology, P.Geoand President and CEO of Sama, and a ‘qualified person’, asdefined by National Instrument 43-101 Standards of Disclosure forMineral Projects.
Seahawk Gold Corp.
The Company wishes to announce the termination of thepreviously announced agreement with Seahawk Gold Corp.(“ Seahawk” ) to complete an acquisition of the Company’s subsidiary,Sama Resources Development Corp. (Cayman). The termination wasagreed to by both Sama and Seahawk.
ABOUT SAMA RESOURCES INC.
Sama is a Canadian-based mineral exploration anddevelopment company with projects in West Africa and now inCanada.
On March 19, 2021 Sama formalised a Joint VentureAgreement Ivanhoe Electric Inc, a private mineral exploration companyin which mining entrepreneur Robert Friedland is a significantstakeholder, in order to develop its Ivorian Nickel-Copper and Cobaltproject in Côte d’Ivoire, West-Africa. For more information aboutSama, please visit Sama’s website at http://www.samaresources.com .
ABOUT IVANHOE ELECTRIC INC.
Ivanhoe Electric Inc. is a privately-owned company focused on makingtechnology-enabled metals discoveries for the electrification ofeverything. The Company deploys proprietary and disruptive technologythat de-risks mineral and water discoveries. Ivanhoe Electric isfocused on “electric metals” (copper, nickel, gold and silver)mining assets for the electric revolution. For further information,please visit www.ivanhoeelectric.com .
FOR FURTHER INFORMATION, PLEASECONTACT:
SAMA RESOURCES INC./RESSOURCES SAMA INC.
Dr. Marc-Antoine Audet, President and CEO
Tel: (514) 726-4158
OR
Mr. Matt Johnston, Corporate Development Advisor
Tel: (604) 443-3835
Toll Free: 1 (877) 792-6688, Ext. 5
Neither the TSXV nor its RegulationServices Provider (as that term is defined in the policies of theTSXV) accepts responsibility for the adequacy or accuracy of thisrelease.
Forward-Looking Statements
Certain of the statements made and informationcontained herein are "forward-looking statements" or“forward-looking information” within the meaning of Canadiansecurities legislation. Forward-looking statements and forward-lookinginformation such as “will”, could”, “expect”,“estimate”, “evidence”, “potential”, “appears”,“seems”, “suggest”, are subject to a variety of risks anduncertainties which could cause actual events or results to differfrom those reflected in the forward-looking statements or forward-looking information, including, without limitation,the ability of the company to convert resources in reserves, itsability to see through the next phase of development on the project,its ability to produce a pre-feasibility study or a feasibility studyregarding the project, its ability to execute on its development plansin terms of metallurgy or exploration, the availability of financingfor activities, risks and uncertainties relating to the interpretationof drill results and the estimation of mineral resources and reserves,the geology, grade and continuity of mineral deposits, the possibilitythat future exploration, development or mining results will not beconsistent 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 orother unanticipated difficulties with or interruptions in explorationor development, the potential for delays in exploration or developmentactivities, the inherent uncertainty of cost estimates and thepotential for unexpected costs and expenses, commodity pricefluctuations, currency fluctuations, expectations and beliefs ofmanagement and other risks and uncertainties.
In addition, forward-looking statements andforward-looking information are based on various assumptions. Shouldone or more of these risks and uncertainties materialize, or shouldunderlying assumptions prove incorrect, actual results may varymaterially from those described in forward-looking information orforward-looking statements. Accordingly, readers are advised not toplace undue reliance on forward-looking statements or forward-lookinginformation. Except as required under applicable securitieslegislation, the Company undertakes no obligation to publicly updateor revise forward-looking statements or forward-looking information,whether as a result of new information, future events orotherwise.
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