(TheNewswire)
Montreal, Quebec – TheNewswire - October 17, 2023 – Sama ResourcesInc. (“ Sama ” or the“ Company ”) (TSXV:SME)(OTC:SAMMF) is pleased to announce an ongoing 3,800 metre (“m”)drilling program at the Yepleu prospect located 25 km south-west ofthe Samapleu-Grata deposits in western Côte d’Ivoire,West-Africa.
The current drilling program is following-up on near surface nickel(“Ni”), copper (“Cu”) and platinum group of elements(“PGE”) mineralisation previously discovered by Sama. Theinvestigated area represents a corridor of approximately threekilometres (“km”) oriented north-west to south-east by 500 m to700 m wide (Figures 1 & 2) and overlays strong conductivity fromour 2013 and 2018 airborne electromagnetic surveys. The drillingprogram started in mid-September 2023 and is expected to last untilmid-November.
“We are excited to initiate thissubstantial drilling program at the Yepleu prospect near the surfacemineralised zone. Sama’s focus over the past five years has largely been on the deeppotential at Yepleu, using Ivanhoe Electric proprietary Typhoontechnology. This new corridor at Yepleu gives us the opportunity tounlock the near surface potential at Yepleu as well. ” saidDr. Marc-Antoine Audet, President and Chief Executive Officer of SamaResources.” Dr. Audet added, “ The Yepleu’s 24km 2 prospective area has consistently demonstrated its mineral-richpotential since we discovered the sector”.
The objective of the current drilling program is to delineate nearsurface Ni-Cu-PGE mineralisation that has the potential to increasethe global mineral resources of the entire project area. Eighteenholes totaling 1,200 m have been drilled to date, a total of 50 holesand 3,800 metres are planned. Drilling is being conducted using twoSama owned core drill rigs. Assays results are pending.
In June 2023, the Company announced a revised mineral resourceestimate for the Samapleu-Grata deposits, a combined estimate of 101.9million tonnes (“Mt”) averaging 0.25% Ni for 558.6 million pounds(“Mlbs”) of Ni metal, 0.23% Cu for 526.8 Mlbs of Cu metal, 0.01%Co for 33.4 Mlbs of cobalt (“Co”) metal, 0.29 g/t Pd for 939,400ounces of palladium (“Pd”) and 0.1 g/t Pt for 311,400 ounces ofplatinum (“Pt”), and 14.99 Mt averaging 0.25% Ni for 81.6 Mlbs ofNi metal, 0.22% Cu for 72.9 Mlbs of Cu metal, 0.02% Co for 5.5 Mlbs ofCo metal, 0.31 g/t Pd for 149,400 ounces of Pd and 0.1 g/t Pt for49,500 ounces of Pt for the Inferred and Indicated categoriesrespectively.
The Samapleu-Grata-Yepleu mineralization is signature of a layered,pipe-like intrusion or conduit-hosted nickel deposits. These raretypes of intrusions host the world’s largest Ni-Cu deposits such asJinchuan, Voisey’s Bay, Kabanga, Eagle, Eagle Nest and N’komati.
Sama discovered the Ni-Cu-PGE mineralization when it discovered theYacouba layered complex of mafic and ultramafic rock. This layeredcomplex was created approximately 2.1 billion years ago by theintrusion of magma through the Man Shield. The Yacouba complex can betraced over a strike length of more than 30 kilometers within Sama’sproperties in Côte d’Ivoire.
Figure 1: Sama’s Samapleu project combined exploration permitsshowing all highly prospecting sectors that remains to beinvestigated.
Figure 2: Surface map at the Yepleu prospect showing 2023 drill holelocations.
Photo of core from drill hole S-342 showing massive sulphide lenseswithin a 26 m thick magmatic pyroxenite. Massive sulphide lensestypically carry elevated nickel, copper and PGE values, assays arepending.
NI 43-101 and QA/QC
Co re logging and sampling wasperformed at Sama’s Samapleu and Yepleu field facilities. Samplepreparations are conducted at the Bureau VeritasMineral Laboratory in Abidjan, Cote d’Ivoire. Sample pulps will be delivered to Activation Laboratories Ltd, Ancaster andThunder Bay, Ontario, Canada, for assaying. All samples will be assayed for Ni, Cu, Co, Fe,S, Pt, Pd and Au using sodium peroxide fusion ICP for the first fiveelements and by Fire 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, a ‘qualified person’, as defined byNational Instrument 43-101 Standards of Disclosure for MineralProjects.
Sama has prepared an independent NI 43-101-complianttechnical report for the Samapleu Project, which is available on thecompany’s website and under the company’s SEDAR+ profile at www.se darplus.ca titled “ Mineral Resource Estimate for the Samapleuand Grata Deposits Project” with an effectivedate of 27 June 2023 prepared by Todd McCracken, P.Geo. of BBAInternational Inc. and Chris Martin, C. Eng. IndependentConsultant.
The technical report includes relevant informationregarding the assumptions, parameters and methods of the mineralresource estimates on the Samapleu Project cited in this news release,as well as further information regarding data verification,exploration procedures and other matters relevant to the scientificand technical disclosure contained in this news release.
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 a U.S.company that combines advanced mineral exploration technologies withelectric metals exploration 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.
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