(TheNewswire)
Ivanhoe Electric to continue Earn-Inon the Ivory Coast projects
Highlights
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GR-05 returned 117m @ 0.29% Ni, 0.31%Cu 0.42 gpt Pd
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GR-06 returned 128m @ 0.30% Ni, 0.35%Cu 0.47 gpt Pd including 14m @ 0.86% Ni, 1.49% Cu 1.38 gpt Pd(several lengths of massive and semi-massive sulphide)
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GR-07 returned 22m @ 0.41% Ni, 0.28%Cu 0.43 gpt Pd
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Results are pending for 13 holesdrilled at Grata since January 2022.
Montréal, Quebec – TheNewswire - March 15, 2022 – Sama Resources Inc. (“Sama” or the “Company”) (TSXV:SME ) ( OTC:SAMMF) ispleased to announce drilling results from our 2021-22 drillingcampaign at the newly discovered Grata Nickel (“ Ni ”) – Copper(“ Cu ”) – Palladium (“ Pd ”) prospect (“ Grata ”). As of thisPress Release, Sama has drilled a total of 18 drill holes for 6,152meters (“ m ”) as a follow-up on the discovery hole GR-03 (PressRelease (“ PR ”) 02-09-2021). Assay results for holes GR-05, GR-06 andGR-07 are summarized in this PR and in Table 1. Although onlytwo-thirds of assay results for GR-06 have been received, resultsinclude 14.10m at 0.86% Ni, 1.49% Cu and 1.38 grams per tonne (“ gpt ”) of palladium(“ Pd ”) within a larger interval of 128mat 0.30% Ni, 0.35% Cu & 0.47 gpt Pd.
“ We are verypleased with the new Grata discovery. Grata has the potential tosignificantly enhance current Samapleu near-surface mineralisation.Together with our partner Ivanhoe Electric we are working hand in handat unlocking the vast potential our Ivorian assets into a world-classdistrict. We continue to advance the Ivorian assets in a meaningfulway while maintaining our near-zero shareholder dilutionmandate .” stated Dr. Marc-Antoine Audet,President & CEO of Sama Resources Inc.
Dr. Audet added: “ We will continue exploring the Grataprospect for massive sulphide lenses and accumulations within thislarge feeder zone of the Yacouba ultramafic-mafic complex whilepursuing other promising targets within the Samapleu-Yepleuexploration permits that remain totally un-explored to thisdate.
Table 1 summarizes results for the 2021-22 drilling campaign. Assays resultsfor 13 holes drilled since January are pending. All measurements arecore length and may not represent true geological length.
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-04 confirmed thewidth of the mineralized zone, with a 141 m mineralized intersectionincluding 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.
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 embayment’s along the feedersystem of the Yacouba UM Intrusive Complex.
Figure 1: Newly discovered zone at Grata is located 5km east of Samapleu showing results for GR-05, -06 and -07.
Figure 2: Cross-section SW-NE at Grata showingresults to date for the 2021-22 drilling campaign, Assay results for13 holes are still pending. The GR-06 holeremained within the Yacouba UM complex for 340 m with mineralizationranging from disseminated to numerous intervals of massive tosemi-massive N-Cu rich sulfide 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.
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 orforward-looking information, including, without limitation, theability of the company to convert resources in reserves, its abilityto see through the next phase of development on the project, itsability 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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