MONTREAL, April 11, 2019 (GLOBE NEWSWIRE) -- Sama Resources Inc. (“Sama” or the “Company”) (TSX-V: SME | OTC.PK: SAMMF) is pleased to announce the commencement of the 5th deep drill hole (YE22-225440) at Yepleu and the 3rd at the Yepleu Sector 1 as a follow-up on the mineralized zone intersected in both previous deep drill holes (ref: press release of December 12, 2018 and April 4, 2019).
Figure 1 (see below) illustrates the first two drill holes at Yepleu Sector 1, defined by Sama’s strategic partner HPX TechCo Inc (“HPX”) using the proprietary Typhoon™ electromagnetic geophysical (“Typhoon”) system. The current 6,000 meter (“m”) drilling program is designed to test high-conductivity targets delineated by the Phase 1 Typhoon survey at the 100%-owned Yepleu property at the Company’s Nickel-Copper-Cobalt-Palladium Project in Côte d’Ivoire, West Africa.
“The 5th drill hole (YE22-225440) targets the center of the Yepleu Sector 1 geophysical anomaly. The results so far from drilling confirm the ability of the Typhoon to identify high conductivity targets. The mineralization that we’re beginning to unveil is proof that Typhoon precisely identifies quality targets,” stated Dr. Marc-Antoine Audet, President and CEO of Sama.
The mineralization encountered in the two first holes drilled at Yepleu Sector 1 is characterized by aggregates of 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. The textures of the sulphide mineralisation vary from disseminated to semi-massive and massive (> 95% of sulphide material). The first drill hole (YE29-556043) intersected semi-massive sulfide mineralization with a combined 5.2 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. Assay results for the second hole are pending.
Figure 1: Cross section for the two first holes drilled at Yepleu Sector 1 and the current hole YE22-225440. The drill target is a conductive body modelled from the Typhoon survey.
Figure 2: Surface mise-a-la-masse map at Yepleu Sector 1 prospect showing drill hole traces for the two holes drilled to date and for the current hole YE22-225440.
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 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.
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.