Montreal, Quebec – July 30, 2018 – Sama Resources Inc. (“Sama” or the “Company”) (TSX-V: SME) is pleased to announce the mobilization and Phase I of the Typhoon™ electromagnetic geophysical survey (“Typhoon”) at the Yepleu Nickel-Copper-Cobalt-Palladium Project in Côte d’Ivoire, West Africa. As reported in the Company’s May 31, 2018 news release, the Typhoon survey will start on site within the next 10 days.
Sama is exploring the Yepleu Project through a strategic partnership with HPX TechCo Inc. (“HPX”), a private mineral exploration company in which mining entrepreneur Robert Friedland is a significant stakeholder.
“We are very excited to test the capabilities of Typhoon in such a unique ultramafic environment like Yepleu. HPX’s technology and in-house expertise give us a huge advantage in defining this new discovery,” stated Dr. Marc-Antoine Audet, President and CEO of Sama.
Dr. Audet added: “The Typhoon survey and data acquisition system is the most accurate and powerful induced polarization and electromagnetic geophysical survey technology available to mineral explorers today. Typhoon technology provides better quality primary signal, allowing for higher resolution, larger scale and deeper detection than existing technology.”
Despite the current rainy season in Côte d’Ivoire, the Typhoon survey will proceed as planned to follow on positive results from the 2,889-line/kilometre airborne helicopter time domain electromagnetic and magnetic survey (“HTEM Survey”) completed in February, 2018 over the Samapleu and Yepleu areas.
Several new prospective zones strongly associated with magnetic anomalies were identified from the current HTEM Survey. These new sectors add to the prospective areas already identified from the previous Fugro survey.
Sama and HPX have selected the Yepleu area for the Phase 1 of the Typhoon ground survey for its high quality HTEM response as well as the prospective geological setting. It is at the Yepleu area that Sama made the first discovery of nickel-copper sulphide mineralisation at surface in West Africa with material grading up to 1.39% nickel and 2.26% copper sulphide (tested using a hand‑held Niton XRF analyzer) (see Company’s Press Release dated June 6, 2013). The Yepleu area is located 18 kilometres southwest of the Samapleu nickel-copper deposit.
Stock Options Granted
The Company is pleased to announce that, pursuant to its Stock Option Plan and subject to regulatory acceptance, it has granted an aggregate total of 340,000 incentive stock options to certain officers, employees and consultants of the Company, subject to certain vesting provisions. These options will be exercisable at a price of $0.30 per common share and will expire on July 29, 2028.
About Sama Resources Inc.
Sama is a Canadian-based mineral exploration and development company with projects in West Africa.
For more information about Sama, please visit Sama’s website at https://samaresources.com.
FOR FURTHER 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
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
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.