(TheNewswire)
Montréal, Q C - TheNewswire - Jan 10, 2023 - Sama Resources Inc. (“Sama” or the “Company”) (TSXV:SME ) ( OTC:SAMMF) is pleased to announce assay results from four additionaldrill holes from the 2021-22 drilling campaign at the Gratanickel-copper prospect. Sama drilled a total of 85 drill holestotalling 26,787 metres (“ 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-24 to GR-26 and GR-28 at Grata are summarized inthis release ( Table1 ). Assays results for fourteen holes drilled atthe Grata deposit are pending.
Highlights:
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Hole GR-26 intersected a total of 188metres of mineralisation including 80.75 metres grading 0.33% nickel,0.40% copper and 0.30gpt palladium; including 3.45 metres grading1.45% nickel, 1.19% copper and 1.16gpt palladium
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Hole GR-28 intersected 194 metres ofmineralisation including 97.85 metres grading 0.30% nickel and 0.34%copper
“ Today’s drill results continue addingexceptionally thick nickel-copper-palladium mineralized intersectionsto further expand potential at the newly discovered Grata deposit. Welook forward to following these results up with pending assays for theremaining fourteen holes drilled in 2022 at Grata . ” stated Dr. Marc-Antoine Audet,President & CEO of Sama Resources Inc.
Dr Audet added “ In 2023, Sama will be delivering additional metallurgical andtechnical studies at both the Samapleu and the newly discovered Gratadeposits for a prospective nickel-copper-cobalt and palladium open pitoperation. ”
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 ).
Assay results for four holes (GR-24 to GR-26 &GR-28) 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 0.48grams per tonne (“ gpt”) palladium (“Pd”) and 6.6 m grading 0.73% Ni, 0.38%Cu and 0.30 gpt Pd. Previous intersections included hole GR-21 with a combined 191.70 m of mineralised material,including 11.85 m grading 0.82% Ni, 0.68% Cu and 0.99 gpt of Pd and 108.20 m at 0.32% Ni, 0.38% Cu and 0.50 gpt Pd.
This release discloses results for hole GR-25 ( Figure3 ) which intersected acombined 179.85 m of mineralisation including 37.40 m at 0.24% Ni,0.45% Cu and 0.54 gpt Pd and 116.95 m at 0.23% Ni, 0.23% Cu and 0.32 gptPd and hole GR-28 returning 194 m of combinedmineralised zones including 97.85 m grading 0.30% Ni, 0.34% Cu and0.24 gpt Pd. GR-11 drilled in January 2022 along the same sectionreturned 212 m of combined mineralised zones including 8.20 m at 0.84%Ni, 1.10% Cu and 1.24 gpt Pd, with several narrow massive andsemi-massive stringers scattered through the mineralisedintervals.
Figure 4 showsa cross-section through holes GR-24 and GR-26 with 69 m and 188 m ofcombined mineralized zones respectively. Hole GR-26 includes aninterval of 80.75 m grading 0.33% Ni, 0.40% Cu and 0.30 gpt Pd.
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 searching 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-24 toGR-26 and GR-28, using a cut-of-grade of 0.1%nickel.
Figure 1: Samapleu project showing the Samapleudeposits and the Grata prospect (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-25 and GR-28.
Figure 4: Grata prospect, vertical section NW-SEshowing holes GR-24 and GR-26.
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.
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 70% interest in the Ivory Coast project withits 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 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, actualresults may vary materially from those described in forward-lookinginformation or forward-looking statements. Accordingly, readers areadvised not to place undue reliance on forward-looking statements orforward-looking information. Except as required under applicablesecurities legislation, the Company undertakes no obligation topublicly update or revise forward-looking statements orforward-looking information, whether as a result of new information,future events or otherwise.
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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