Montreal, Quebec – September 24, 2020 – Sama Resources Inc. (“Sama” or the “Company”) (TSX-V: SME | OTC-PK: SAMMF) is pleased to announce that geophysical activities have resumed on the Cote D’Ivoire nickel project, with downhole electromagnetic (“EM”) surveys (“DHTEM”) planned in four deep drill holes at the Yepleu target zone and in one deep drill hole at the Bounta target zone. The holes at Yepleu and Bounta were drilled in the early months of 2020, with both zones part of the large Yacouba Ultramafic-Mafic intrusive complex discovered by Sama in 2010 (ref: Press Release: August 08, 2020), (Figure 1). The DHTEM surveys are using HPX TechCo Inc.’s (“HPX”) proprietary Typhoon™ electromagnetic geophysical transmitter (“Typhoon”), maximising power transmission for higher resolution at depth.
DHTEM – Yepleu Target Zone
DHTEM surveying is underway, starting with borehole YE2020-03 (Figures 2 & 3) at the Yepleu zone, which returned 8.00 meters (”m”) of mineralised material at 850 m from surface grading 0.31% nickel (“Ni”) and 0.24% copper (“Cu”) including 1.00 m at 1.08% Ni, 1.29 % Cu and 0.18 gram per tonne (“gpt”) Palladium. The mineralization encountered in YE2020-03 does not explain the very high conductivity target located nearby and defined by the previous Typhoon surface EM survey (15,000 conductivity thickness (“CT”)). DHTEM surveys will follow with boreholes YE2020-01 and YE2020-02. Both holes returned mineralization characterized by aggregates of the nickel, copper and iron sulphides – pentlandite, chalcopyrite and pyrrhotite, respectively.
DHTEM – Bounta Target Zone
The current DHTEM program includes surveying borehole BM2020-01 at the Bounta zone, a new discovery located midway between Samapleu and Yepleu. Borehole BM2020-01 returned disseminated mineralization and a stringer of semi-massive to massive sulphide grading 1.23% Ni and 1.14% Cu over 0.35 m at a depth of 540 m from surface (Photo 1). The mineralization encountered by BN2020-01 closely matched the moderately conductive EM plate but could not fully explain the high conductivity target defined by the Typhoon surface EM survey (Figure 4). The DHTEM should delineate with more accuracy the centre of the strong conductor.
Three holes drilled at Yepleu (YE2020-01 to 03) were aimed at testing three Typhoon EM targets along a mineralized trend of more than 4,500 m of strike length (Figure 2). The mineralized horizon starts near surface, reaches a depth of more than 850 m toward the south-southwest and appears to remain open. The very strong conductive target at 850 m depth from surface defined by Typhoon surface EM (15,000 CT), remains unexplained.
HPX is a privately-owned, U.S.-domiciled mineral exploration and development company. For further information, please visit www.hpxploration.com.
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 https://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.
FOR FURTHER INFORMATION, PLEASE CONTACT:
SAMA RESOURCES INC./RESSOURCES SAMA INC.
Dr. Marc-Antoine Audet, President and CEO
Mr. Matt Johnston, Corporate Development Advisor
Tel: (604) 443-3835
Toll Free: 1 (877) 792-6688, Ext. 5
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Certain 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 such as “evidence”, “potential”, “appears”, “seems”, “suggest”, 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.