(TheNewswire)
Montreal, Quebec - TheNewswire - October 12 , 2023 - Sama Resources Inc. (“ Sama ” or the “ Company ”) (TSXV:SME) (OTC:SAMMF) is pleased to announce that in collaboration with ourpartner Ivanhoe Electric (NYSE:IE), the Company has mandated BBAInternational Inc (“BBA”) to upgrade the 2020 Preliminary EconomicAssessment (“PEA”) aimed at producing a nickel (“Ni”)concentrate and a copper (“Cu” concentrate from the Samapleu andGrata magmatic Ni-Cu sulphide deposits. BBA prepared an updatedMineral Resource Estimate in July 2023.
The Updated Preliminary Economic Assessment (“UpdatedPEA”) will provide detailed information on the project, includingsite layouts, road access, permits, claims, water bodies, andhistorical infrastructure. It will also cover other important aspectssuch as geotechnical, geochemical, environmental, hydrology,hydrogeology, and metallurgy studies. Additionally, the Updated PEAwill contain a cost estimation spreadsheet that includes localworkforce rates, fuel costs, and power rates. It will outline therecoveries and product types, Smelter Terms, mill throughput rate, andramp-up period.
BBA will collaborate with Knight Piesold for tailingsdesign. BBA has a team of highly skilled professionals with extensiveexperience in nickel mining, both at the study stage and in theprovision of technical support to mining operations. This experiencehas been gained over the last 30 years during work with clients suchas Vale, Glencore, Canadian Royalties and a variety of juniorexploration companies.
The Company anticipates completion of the Updated PEAby Q1 2024.
“ We areexcited to announce the commencement of our Updated PreliminaryEconomic Assessment, marking a significant milestone in our journey atthe Samapleu-Grata Nickel-Copper Deposits in Côte d’Ivoire. Therecent increase in our mineral resources underscore our commitment tounlocking the full potential of this exceptional project ” said Dr Marc-Antoine Audet, President and Chief ExecutiveOfficer of Sama Resources. Dr. Audet added, “ We look forward to delivering valuableinsights and driving sustainable growth as we continue to exploreadditional untested targets showing similar geophysical signatures toSamapleu and Grata within our land package” .
About Sama Resources Inc.
Sama is a Canadian-based, growth-oriented resourcecompany focused on exploring the Samapleu nickel-copper project inCôte d’Ivoire, West Africa. The Company is managed by experiencedindustry professionals with a strong track record of discovery. Samais committed to developing and exploiting the Samapleu Nickel-Copperand Platinum Group Element Resources.
Sama’s projects are located approximately 600 kmnorthwest of Abidjan in Côte d’Ivoire and are flanked to the westby the Ivorian and Guinean borders. Sama’s projects are locatedadjacent to the large 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 Samapleu nickel-copperproject in Côte d’Ivoire with its joint venture partner IvanhoeElectric owning 30%. Ivanhoe Electric has the option to purchase up toa 60% interest in the project.
For more information about Sama, please visit Sama’swebsite at www.samaresources.com.
About Ivanhoe Electric Inc.
Ivanhoe Electric (NYSE American: IE, TSX: IE), is anAmerican technology and mineral exploration company that isre-inventing mining for the electrification of everything by combiningadvanced mineral exploration technologies, renewable energy storagesolutions and electric metals projects predominantly located in theUnited States .For more information, visit www.ivanhoeelectric.com
Contact Information:
Dr. Marc-Antoine Audet, P. Geo, President and CEO
Tel: (514) 726-4158
Mr. Matt Johnston, Corporate Development Advisor
Tel: (604) 443-3835 or (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, 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 securities legislation, the Company undertakes no obligationto publicly update or revise forward-looking statements orforward-looking information, whether as a result of new information,future events or otherwise.
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