(TheNewswire)
Montréal, QC - TheNewswire - Jan uary 17, 2023 - Sama Resources Inc. (“Sama” or the “Company”) (TSXV:SME ) ( OTC:SAMMF) ispleased to announce assay results from four additional drill holesfrom the 2021-22 drilling campaign at the Grata nickel-copperprospect. Sama drilled a total of 85 drill holes totalling 26,787metres (“ m ”) at the Ivory Coast project in2021-22, including 45 drill holes totalling 14,893 m at the Grataprospect and 21 holes for 5,643 m at the Samapleu deposit. The assayresults for holes GR-29, GR-31, GR-32 and GR-35 at Grata aresummarized in this release ( Table 1 ). Assays results for ten holes drilledat the Grata deposit are pending.
Highlights:
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Hole GR-29 intersected atotal of 140 metres of mineralisation including 50.55 metres grading0.45% nickel, 0.37% copper and 0.42gpt palladium; including 2.55metres grading 2.60% nickel, 1.53% copper and 2.22gptpalladium
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Hole GR-31 intersected 172 metres ofmineralisation including 72.60 metres grading 0.36% nickel and 0.34%copper.
“ We are very pleased with today’sresults, which will contribute meaningfully to our next resourceestimate for the combined Samapleu-Grata prospects. Our drill programcontinues to have great success, extending the mineralisationcontinuity and thickness toward the north-east of the Grataprospect. ” stated Dr. Marc-Antoine Audet,President & CEO of Sama Resources Inc.
Sama’s Ivorian project is comprised of fiveexploration permits for 850 square kilometers. More than twentytargets were outlined from geophysical surveys, out of which onlythree zones have been explored ( Figure 1 ).
Assays results for four holes (GR-29, GR-31, GR-32 andGR-35) are presented in Table1 . All measurements are core lengths and may notrepresent true geological widths. Figure 2 provides thelocation of the four holes.
Grata: Latest discovery in theYacouba Ultramafic-Mafic (“UM”) Intrusive Complex
In September 2021, Sama announced the Grata discoverylocated 5 kilometres east of the Samapleu deposit ( Figure 1 ).
The discovery hole, GR-03, drilled in June 2021,returned a 310 m sequence of pyroxenite and gabbro containing a 147 minterval of disseminated sulphides and several intersections ofsemi-massive sulphide mineralisation. The second hole, GR-04, confirmedthe width of the mineralised zone with a 141 m mineralisedintersection, including 6.4 m grading 1.05%nickel (“Ni”) , 1.28% copper (“Cu”) and 0.48 grams per tonne (“ gpt”) palladium (“Pd”) and 6.6 m grading 0.73% Ni, 0.38% Cu and 0.30gpt Pd. Previousintersections included hole GR-21 with acombined 191.70 m of mineralised material, including 11.85 m grading0.82% Ni, 0.68% Cu and 0.99 gpt of Pd and 108.20 m at 0.32% Ni,0.38% Cu and 0.50gpt Pd.
This release discloses results for holes GR-32 andGR-35 ( Figure 3 ) whichintersected 138 m and 132 m of combined mineralised zonesrespectively. Hole GR-35 included 12.40 m grading 0.39% Ni, 0.53% Cuand 0.44gpt Pd and 78.50 m grading 0.27% Ni, 0.42% Cu and 0.25gpt Pd.These two holes confirm the extension of mineralisation toward thenorth-east.
Figure 4 showsa cross-section with holes GR-29 and GR-31, in which hole GR-29intersecting a total of 140 m of mineralisation including 50.55 mgrading 0.45% Ni, 0.37% Cu and 0.42gpt Pd including an interval of2.55 m grading 2.60% Ni, 1.53% Cu and 2.22gpt Pd. Hole GR-31 drilled50 m south-east of GR-29 returned 172 m of combined mineralised zonesincluding 72.60 m grading 0.36% Ni and 0.34% Cu. Assay results forGR-27 and GR-33 are pending.
The mineralisation at Grata is similar in compositionto the Samapleu deposit (“ Samapleu ”) but shows a higher proportion ofchalcopyrite. Metallurgical studies are ongoing using Grata andSamapleu material.
Sama’s goal is to increase mineral resources atSamapleu and Grata as well as to search for massive sulphide veins andlenses that could have accumulated at depth in traps and embaymentsalong the feeder system of the Yacouba UM Intrusive Complex.
Table 1: Results for GR-29,GR-31, GR-32 and GR-35, using a cut-of-grade of0.1% nickel.
Figure 1: Samapleu project showing the Samapleudeposits and the Grata occurrence (blue circles) together with targetareas for detailed exploration (red circles). Conductivity fromairborne surveys (2013 & 2018) is shown in the background.
Figure 2: The Grata prospect is located five kilometreseast of the Samapleu deposits. Current and historic drilling arepresented together with the four holes reported in the press release.
Figure 3: GrataProspect, vertical section NW-SE showing holesGR-32 and GR-35.
Figure 4: Grata Prospect, vertical section NW-SEshowing holes GR-29 and GR-31.
QA/QC
Co re logging and sampling wasperformed at Sama’s Samapleu and Yepleu field facilities. Samplepreparation was conducted at the Bureau VeritasMineral Laboratory in Abidjan, Ivory Coast . Sample pulps were delivered to Activation Laboratories Ltd, Ancaster and Thunder Bay,Ontario, Canada, for assaying. All samples were assayed for Ni, Cu, Co, Fe, S, Pt, Pd and Auusing sodium peroxide fusion ICP for the first five elements and byFire Assay ICPOES for the last three.
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.
Stock Options
The Company is pleased to announce, subject toregulatory acceptance, that the Company has granted an aggregate total of 2,055,000 incentive stockoptions to certain officers, employees and consultants, subject to certain vesting provisions . These options will be exercisable at a price of $0.135 per common share and willexpire on January 17, 2033.
ABOUT SAMA RESOURCES INC.
Sama is a Canadian-based ,growth-oriented resource company focused on exploring the Samapleunickel-copper-palladium project in Ivory Coast, West Africa. TheCompany is managed by experienced industry professionals with a strongtrack record of discovery. Sama, is committed to develop and exploitthe Samapleu Ni-Cu and Platinum Group of Elements Resources.
Sama’s projects are located approximately 600 kmnorthwest of Abidjan in Côte d’Ivoire. Sama’s projects arelocated adjacent to the world-class nickel-cobalt laterite deposits ofSipilou and Foungouesso forming a 125 km long new Base Metal Camp inWest Africa.
Sama owns a 70% interest in the Ivory Coast projectwith its joint venture partner Ivanhoe Electric owning 30%. IvanhoeElectric has the option to earn up to a 60% interest in the project. For more information about Sama, please visit Sama’s website at www.samaresources.com .
ABOUT IVANHOE ELECTRIC INC.
Ivanhoe Electric (NYSE American: IE, TSX:IE ), is an Americantechnology and mineral exploration company that is re-inventing miningfor the electrification of everything by combining advanced mineralexploration technologies, renewable energy storage solutions andelectric metals projects predominantly located in the UnitedStates . For moreinformation, 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
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 the potential for unexpected costs and expenses,commodity price fluctuations, currency fluctuations, expectations andbeliefs of management 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.
Neither the TSXV nor its Regulation Services Provider(as that term is defined in the policies of the TSXV) acceptsresponsibility for the adequacy or accuracy of this release.
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