Montreal, Quebec – March 18, 2020 – Sama Resources Inc. (“Sama” or the “Company”) (TSX-V: SME | OTC-PK: SAMMF) is pleased to announce enhanced exploration activities at its Nickel, Copper, Palladium projects in Ivory Coast, West Africa. The Company is currently exploring at three specific sites simultaneously over a strike length of 25 kilometers; Samapleu, Bounta and Yepleu.
Figure 1: Sama 2020’s Typhoon and drilling program, showing numerous high intensity electromagnetic targets in the vicinity of the currently known mineralisation at Samapleu Main and Samapleu Extension.
The Company confirms excellent results using HPX TechCo Inc’s (“HPX”) proprietary Typhoon™ time-domain electromagnetic (TEM) geophysical transmitter (“Typhoon”) (using loop 2) at Samapleu using both surface TEM loops and down-hole TEM surveys (DHTEM). The Company is waiting for the final interpretations on all DHTEM surveys performed at Samapleu. The DHTEM was also performed on a 688m deep pilot hole (SM2020-2) which intersected 200 meters of the complex and has returned quality off-hole anomalies that the Company will receive final interpretation on shortly. Drilling will be setting up at Samapleu on March 19 to drill the large high intensity anomaly defined using the Typhoon (hole: PMarch16; refer to Figure 2 below)
Figure 2: Sama 2020’s Typhoon and drilling program at Samapleu project.
The new C3000 drilling rig is currently in transit to the Yepleu sector to begin drilling on PY2020-03 next week.
“We are pleased to begin a comprehensive drill program to enhance the speed of development of our projects using new high intensity targets identified by the Typhoon system” stated Dr. Marc-Antoine Audet President, CEO & Director of Sama Resources Inc.
In a previous press release (January 29, 2020), Sama announced an intersection of 53 m grading 0.43% nickel (“Ni”), 0.30% copper (“Cu”) and 0.52 grams per tonne (“gpt”) palladium (“Pd”), including 4.6 m grading 1.98% Ni, 0.92% Cu and 2.54 gpt Pd (Figure 2). The mineralization encountered in hole SM2020-1 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/accumulations. The textures of the sulphide mineralization vary from disseminated to semi-massive and massive (> 80% of sulphide material).
Readers are invited to view the Updated Corporate Presentation showing exploration progress made at the project sites.
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 and President Eric Finlayson, a former head of exploration at Rio Tinto. 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
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 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.