Montreal, Quebec – March 12, 2019 – Sama Resources Inc. (“Sama” or the “Company”) (TSX-V: SME | OTC.PK: SAMMF) is pleased to announce results from a downhole geophysical survey performed on the first deep drill hole at the 100%-owned Yepleu Nickel-Copper-Cobalt-Palladium Project in Côte d’Ivoire, West Africa.
In the first week of March 2019, the Company conducted a downhole geophysical survey at the first deep hole drilled in December 2018 (YE29-556043). The survey used a geophysical system called “Mise-a-la-Masse” to follow-up on the mineralized intersection announced February 14, 2019. The “Mise-à-la-Masse” method injects an electric current into a mineralized zone intersected by drilling. It aims to assist in delineating the mineralized zone and is based on mapping the distribution of electric potential lines measured on the surface or in boreholes. SAGAX Africa SA based in Ouagadougou, Burkina Faso, completed the survey.
Results from the Mise-a-la-Masse survey match precisely with the initial Typhoon™ electromagnetic geophysical survey (“Typhoon”) interpretation in terms of size and location of the conductive target. (please see Figure 1).
Surface map showing Mise-a-la-Masse results that coincide with the Typhoon’s anomaly wire frame.
In order to quickly test the combined Typhoon/Mise-a-la-Masse targets, Capital Drilling will mobilize a second drill rig to complement the one on the current 6,000-m drilling program designed to test high-conductivity targets defined by Phase 1 of the Typhoon survey. The drilling program is targeting semi-massive and massive polymetallic sulphide anomalies located between 600 m and 900 m from surface.
The first deep drill hole (YE29-556043) intersected semi-massive sulfide mineralization with a combined 5.2 meter (“m”) intersection grading 1.16% nickel, 0.62% copper, 0.24 gram per ton (‘gpt”) palladium and 0.21 gpt platinum (using a cut-off-grade of 0.8% nickel) within a larger interval of 37 m of disseminated sulphide mineralisation grading 0.41% nickel, 0.31% copper, 0.23 gpt palladium and 0.17 gpt platinum. The mineralization encountered in the hole is characterized by aggregates of the nickel, copper and iron sulphides pentlandite, chalcopyrite and pyrrhotite, respectively. Pentlandite occurs together with pyrrhotite, while the chalcopyrite is either mixed with the pentlandite and pyrrhotite or occurs as late millimetric to centimetric sulphide veins cross cutting the pentlandite and pyrrhotite. Contacts between the semi-massive sulphides and the mineralized pyroxenite and gabbroic host rocks are irregular but sharp and often show brecciated textures. This indicates that these sulphide lenses have intruded the host rocks and originated from a source that is yet to be discovered.
The first drill rig continues progressing on hole YE45-348726 aimed at testing an electromagnetic response located 3.1-kilometer south-west from hole YE29-556043. The Typhoon response begins at approximately 750m from surface, with a core at 950m, and appears to be open at depth.
Cross-section for hole YE29-556043 and the projected borehole. The drill target is a conductive body modelled from the Typhoon survey.
HPX is a privately-owned, metals-focused exploration company deploying proprietary in-house geophysical technologies to rapidly evaluate buried geophysical targets. The HPX technology cluster comprises geological and geophysical systems for targeting, modelling, survey optimization, acquisition, processing and interpretation. HPX has a highly experienced board and management team led by Chief Executive Officer Robert Friedland; President Eric Finlayson, a former head of exploration at Rio Tinto; and board member Ian Cockerill, a former Chief Executive Officer of Gold Fields Ltd. For further information, please visit www.hpxploration.com.
About SAGAX Africa SA
SAGAX Afrique SA is a contractor and consultant in ground geophysical surveys applied to mineral exploration in West Africa. It has served the West African mining industry for 24 years now. Its head office is located in Ouagadougou, Burkina Faso and has logistical bases in Ivory Coast and Mali. It serves all countries in the region
About Sama Resources Inc.
Sama is a Canadian-based mineral exploration and development company with projects in West Africa. On October 23, 2017, Sama announced that it had entered into a binding term sheet in view of forming a strategic partnership with HPX TechCo Inc., a private mineral exploration company in which mining entrepreneur Robert Friedland is a significant stakeholder, in order to develop its Côte d’Ivoire Nickel-Copper and Cobalt project in Côte d’Ivoire, West-Africa. For more information about Sama, please visit Sama’s website at http://www.samaresources.com.
The technical information in this release has been reviewed and approved by Dr. Marc-Antoine Audet, P.Geo and President and CEO of Sama, and a ‘qualified person’, as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
FOR ADDITIONAL INFORMATION, PLEASE CONTACT:
SAMA RESOURCES INC./RESSOURCES SAMA INC.
Dr. Marc-Antoine Audet, President and CEO
Tel: (514) 726-4158
Mr. Matt Johnston, Corporate Development Advisor
Tel: (604) 443-3835
Toll Free: 1 (877) 792-6688, Ext. 5
Certain of the statements made and information contained herein are “forward-looking statements” or “forward-looking information” within the meaning of Canadian securities legislation. Forward-looking statements and forward-looking information are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements or forward-looking information, including, without limitation, the availability of financing for activities, risks and uncertainties relating to the interpretation of drill results and the estimation of mineral resources and reserves, the geology, grade and continuity of mineral deposits, the possibility that future exploration, development or mining results will not be consistent 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 or other unanticipated difficulties with or interruptions in exploration or development, the potential for delays in exploration or development activities, the inherent uncertainty of cost estimates and the potential for unexpected costs and expenses, commodity price fluctuations, currency fluctuations, expectations and beliefs of management and other risks and uncertainties.
In addition, forward-looking statements and forward-looking information are based on various assumptions. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking information or forward-looking statements. Accordingly, readers are advised not to place undue reliance on forward-looking statements or forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking statements or forward-looking information, whether as a result of new information, future events or otherwise.