(TheNewswire)
Montreal, Quebec – TheNewswire - August 14, 2023 – Sama ResourcesInc. (“Sama” or the “Company”)(TSXV:SME ) ( OTC:SAMMF) today announced that the Company has filed onSEDAR+ an independent technical report (the “ Report ”) preparedin accordance with National Instrument 43-101 – Standards ofDisclosure for Mineral Projects (“ NI 43-101 ) supportingthe results of a Mineral Resource Estimate of its SamapleuNickel-Copper project located in Ivory Coast, West Africa previouslyreported in the Company’s news release dated June 27, 2023. Thereare no material differences in the Report from those results in theCompany’s press release dated June 27, 2023. The effective date ofthe technical report is June 27, 2023.
The full technical report dated August 11, 2023 andentitled “ NI 43-101Technical Report Mineral Resource Estimate for the Samapleu and GrataDeposits Project ” can be found on theCompany’s website at www.samaresources.com and on SEDAR+ under the Company’s issuer profile at www.sedarplus.ca. BBAInternational Inc. (BBA) prepared the revised Mineral ResourceEstimate (“MRE”) in accordance with National Instrument 43 101 (NI43-101) for Samapleu and Grata deposits, located in Cote d’Ivoire.The Technical report was prepared by independent consultants: ToddMcCracken, P.Geo., of BBA and Chris Martin, C.Eng., an independentconsultant.
QUALITY CONTROL AND ASSURANCE
All scientific and technical information contained inthe report has been reviewed and approved by Todd McCracken, P.Geo.,Director – Mining & Geology – Central Canada, BBAInternational Inc., the qualified person (QP), Christopher Martin,C.Eng., metallurgical consultant acting as a QP for the metallurgicalsection and Dr. Marc-Antoine Audet, Ph.D. Geology, P.Geo. andPresident and CEO of Sama, QP under the definitions established byNational Instrument 43-101.
The Qualified Persons have reviewed and verified thatthe technical information with respect to the Revised Mineral Estimatecontained in this press release is accurate and has approved thewritten disclosure of such information. For readers to fullyunderstand the information in this press release, they should read theTechnical Report in its entirety when it is available on SEDAR,including all qualifications, assumptions and exclusions that relateto the information to be set out in the Technical Report. TheTechnical Report is intended to be read as a whole, and sectionsshould not be read or relied upon out of context.
QUALIFIED PERSON
The resource estimate was prepared by Mr. ToddMcCracken, P.Geo, of BBA International Inc. in accordance withNational Instrument 43-101 Standards of Disclosure for MineralProjects. The resource classification follows the CIM definition forclassification of Indicated and Inferred Mineral Resources. Thecriteria used by the QP for classifying the estimated mineralresources are based on confidence and continuity of geology andgrades.
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.
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 andinformation contained 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, thecompletion of the conditions of the Arrangement, the listing of SRQ onthe TSX-V, the proposed board of directors and management team of SRQ,the effects of the Arrangement on the Company and SRQ, the ability ofSRQ to convert resources in reserves, its ability to see through thenext phase of development on the project, its ability to produce apre-feasibility study or a feasibility study regarding the project,its ability to execute on its development plans in terms of metallurgyor exploration, the availability of financing for activities, risksand uncertainties relating to the interpretation of drill results andthe estimation of mineral resources and reserves, the geology, gradeand continuity of mineral deposits, the possibility that futureexploration, development or mining results will not be consistent withSRQ’s expectations, metal price fluctuations, environmental andregulatory requirements, availability of permits, escalating costs ofremediation and mitigation, risk of title loss, the effects ofaccidents, equipment breakdowns, labour disputes or otherunanticipated difficulties with or interruptions in exploration ordevelopment, the potential for delays in exploration or developmentactivities, the inherent uncertainty of cost estimates and thepotential for unexpectedcosts and expenses, commodity price fluctuations, currencyfluctuations, expectations and beliefs of management and other risksand uncertainties.
In addition, forward-lookingstatements and forward-looking information are based on variousassumptions. Should one or more of these risks and uncertaintiesmaterialize, or should underlying assumptions prove incorrect, actualresults may vary materially from those described in theforward-looking information or forward-looking statements.Accordingly, readers are advised not to place undue reliance onforward-looking statements or forward-looking information. Except asrequired under applicable securities legislation, the Companyundertakes no obligation to publicly update or revise forward-lookingstatements or forward-looking information, whether as a result of newinformation, future events or otherwise.
Neither the TSX-V nor its RegulationServices Provider (as that term is defined in the policies of theTSX-V) accepts responsibility for the adequacy or accuracy of thisrelease.
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