(TheNewswire)
Montreal, Quebec - TheNewswire - December 16 th , 2020 - SamaResources Inc. (“ Sama ” or the “ Company ”)(TSXV: SME ) ( OTC: SAMMF) is pleased toannounce that downhole electromagnetic (“EM”) surveys(“DHTEM”) have been completed in a deep drill hole at the Yepleutarget zone and in a deep drill hole at the Bounta target zone. Theholes at Yepleu and Bounta were drilled in the early months of 2020,with both zones part of the large Yacouba Ultramafic-Mafic intrusivecomplex discovered by Sama in 2010. The DHTEM surveys used HPXTechCo Inc.’s (“HPX”) proprietary Typhoon™ electromagneticgeophysical transmitter (“Typhoon”), maximising power transmissionfor higher resolution at depth. The Company has identified the highestconductivity target recorded to date (20,000 Conductivity Thickness“ CT ”) and it will be the number one priority in early 2021 forconfirmation drilling (Figure 1):
The downhole interpretation at Bounta awaits finalinterpretation (Figure 2):
“ Following-up on the excellent DHTEM results at Yepleu is the jointHPX-Sama team primary focus on the re-start of work in early2021” stated Dr. Marc-Antoine Audet President,CEO and Director of Sama Resources Inc.
Stock Options
Pursuant to its Stock Option Plan and subject toregulatory acceptance, the Company has grantedan aggregate total of 1,885,000 incentive stock options to certainofficers, employees and consultants, subject to certain vesting provisions . Theseoptions will be exercisable at a price of$0.115 per common share and will expire onDecember 14, 2030.
About Sama Resources Inc.
Sama is a Canadian-based mineral exploration anddevelopment company with projects in West Africa.
For more information about Sama, please visit Sama’s website at http://www.samaresources.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 are subject to a variety of risks and uncertainties whichcould cause actual events or results to differ from those reflected inthe forward-looking statements or forward-looking information,including, without limitation, the availability of financing foractivities, risks and uncertainties relating to the interpretation ofdrill 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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