(TheNewswire)
Drilling at Yepleu, Samapleu andGrata is ongoing with the discovery of new mineralized zones
Montreal, Quebec – TheNewswire - June 15, 2021 – Sama ResourcesInc. (“Sama” or the “Company”)(TSXV:SME ) ( OTC:SAMMF) is pleased to announce that in collaboration with our partner Ivanhoe Electric(previously HPX), the Company will upgrade the 2020 Preliminary Economic Assessment (“ PEA ”) to aPre-Feasibility Study (“ PFS ”) aimed at launching production at the Samapleu deposit for producing a nickel(“ Ni ”) concentrate and a copper (“ Cu ”) concentrate. The 2020 PEA was prepared by DRA Global’soffice, in Montreal, Canada through DRA Met-Chem (“ DRA ”). The PEAshowed a Pre-Tax NPV of US$615M, and IRR of 32.5%. The mineral processing plant proposed in the PEA is designedto process 2.4 Mtpy of run-of-mine mineralized material to produce39,000 tpy of nickel concentrate at 10.34% Ni grade and 15,000 tpy ofcopper concentrate at 23.00% Cu grade. DRA willupdate the PEA over the next few months and an Environmental ImpactStudy will be launched in Q3 2021 following guidelines defined by theAgence Nationale de l’Environnement (ANDE) in Ivory Coast. Figures 1and 2 show the proposed layout for the future operation at Samapleu aswell as DRA’s proposed flowsheet for producing concentrates.
“S ama isresponding positively to the call from industry leaders for producingmore nickel. Revisiting last year’s PEA will allow Sama tofast-track the development of the surface resources at the Samapleudeposits ” said Dr Marc-Antoine Audet,President and Chief Executive Officer of Sama Resources. Dr. Audetadded, “R ecent drillingsuccess in the neighbourhood of the current mineralization at Samapleufurther enhances the prospectivity of the entire area .
Sama is currently drilling at the Samapleu, Grata andYepleu areas within the Company’s properties package.
At Yepleu, Sama’s company-owned Coretech 3000 drillrig is currently testing the excellent conductor(20,000 Conductivity Thickness (“CT”)) defined using IvanhoeElectric Inc.’s proprietary Typhoon ™system from down-hole electromagnetic surveys (DHTEM) completed inNovember 2020. The hole (2021-05) is currently at 100 meters(“ m ”) on target for the 20,000 CT conductor located 850 m fromsurface (Figure 3).
While preparing access for hole 2021-05, the Companydrilled three holes at conductive targets (10,000 CT, 11,000 CT) alongthe 4.5 kilometres (“ km ”) long mineralized trend. Boreholes2021-03 & 04 intersected 15 m of mineralization including 3.8 mof semi-massive sulphides and 17 m of mineralization including 1.85 mof massive and semi-massive mineralization respectively. Further alongthe trend, hole 2021-02 intersected 61 m of mineralization. Assaysresults are pending.
At Samapleu, the Company is currently drilling newtargets generated from a reinterpretation of the 2013 helicopterelectromagnetic survey (r ef:Press Release May 12, 2021 ). Hole SM34-105691 intersected a new mineralized zone at thesouth-west end of the complex while SM25-440370 extended near-surfacemineralization at the north-east end of the complex. A new mineralizedsector has been outlined 4 kilometres east of Samapleu, within theGrata (PR604) property, with ongoing drill hole SM20-070410 (Figure4). Additional follow-up drill holes will be planned at all these newzones.
The highly prospective target area called SamapleuNorth (Figure 4) will be investigated shortly with one drill hole.
The 600 m deep very strong DHTEM anomaly (15,000 CT) atSamapleu will be tested with Sama’s Coretech 3000 rig following thecompletion of the current drill program at Yepleu.
Figure 1: Proposed surface layoutfor the future operation at the Samapleu deposit.
Figure 2: DRA’s proposed flowsheetfor producing Ni and Cu concentrates.
Figure 3: Drill holes 2021-03 & 04 intersected15 m of mineralization including 3.8 m of semi-massive sulphides and17 m of mineralization including 1.85 m of massive and semi-massivemineralization respectively. Further along the defined trend, hole2021-02 intersected 61 m of mineralization. Assays results arepending. The hand?held Niton XRF analyzer provides assay readingsfor a wide range of metallic elements including nickel and copper. XRFreadings are made through a window of a few square millimetres. Reported valuesobtained using the Niton XRF analyzer are being used only forexploration planning.
Figure 4: Based the reinterpretation of the 2013small grid Helitem inversion at Samapleu Main and Extension 1, fournew proposed holes were planned in addition to the proposed hole fortesting the 15,000 CT target at 600 m from surface. Two drill holesare now completed and one ongoing.
Co re logging and sampling wereperformed at Sama’s facility at the Samapleu and Yepleu fieldfacilities. Sample preparation was conducted at the Bureau Veritas Mineral Laboratory’s facility inAbidjan . Sample pulps weredelivered to Activation Laboratories Ltd,Ancaster, Ontario, Canada, for assaying. All samples are assayed for Ni, Cu, Co, Pt, Pd,Au, Fe and S.
Readers are invited to view the updated CorporatePresentation:
https://samaresources.com/i/pdf/Sama_Corporate_Presentation.pdf
ABOUT SAMA RESOURCES INC.
Sama is a Canadian-based mineral exploration anddevelopment company with projects in West Africa. On October 23, 2017,Sama announced that it had entered into a binding term sheet in viewof forming a strategic partnership with HPX TechCo Inc., a privatemineral exploration company in which mining entrepreneur RobertFriedland is a significant stakeholder, in order to develop itsIvorian Nickel-Copper and Cobalt project in Côte d’Ivoire,West-Africa. For more information about Sama, please visit Sama’swebsite at http://www.samaresources.com .
ABOUT IVANHOE ELECTRIC (previouslyHPX)
Ivanhoe Electric is a privately-owned, metals-focused explorationcompany deploying proprietary in-house geophysical technologies torapidly evaluate buried geophysical targets. The Ivanhoe Electrictechnology cluster comprises geological and geophysical systems fortargeting, modelling, survey optimization, acquisition, processing andinterpretation. Ivanhoe electric has a highly experienced board andmanagement team led by Chief Executive Officer Robert Friedland andPresident Eric Finlayson, a former head of exploration at Rio Tinto.For further information, please visit www.hpxploration.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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