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Sama Resources Inc. (SME.V)

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Market Cap25.976M
Beta (5Y Monthly)1.43
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EPS (TTM)-0.0990
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    • Sama Announces Positive Assay Results from 2020 drilling
      GlobeNewswire

      Sama Announces Positive Assay Results from 2020 drilling

      Conductive targets identified by Typhoon™ surveys remain open for further testing Photo 1 SM2020-1 semi-massive to massive sulphides showing chalcopyrite, pentlandite and pyrrhotite grading 2.70% Nickel, 1.47% Copper and 3.31 gpt Palladium over 1.50 m at a depth of 110 m from surface Photo 2 BN2020-1 semi-massive to massive sulphides showing similar composition as seen at Samapleu and Yepleu returning 1.24% Ni and 1.14% Cu over 0.35 m at a depth of 540.2 m from surface. Figure 1 Sama 2020’s Typhoon surveys completed and target zones remaining. Figure 2 Samapleu deposits surface map showing holes SM2020-1 to 5 and the layout of the Typhoon survey. Figure 3 The Typhoon target at the Bounta sector together with boreholes BN2020-01. The mineralisation intercepted in BN2020-01 couldn’t explain the high conductivity target (11,000 CT) defined by the surface Typhoon. The following-up field program will include DHTEM in BN2020-01 for a more precise location of the highly conductive target defined by the Typhoon. Figure 4 Targets at the Yepleu sector showing the mineralized trend and results from the three boreholes drilled in 2020.MONTREAL, Aug. 13, 2020 (GLOBE NEWSWIRE) -- Sama Resources Inc. (“Sama” or the “Company”) (TSX-V: SME | OTC-PK: SAMMF) is pleased to announce the assay results from boreholes drilled during the first half of 2020. The boreholes targeted the highly conductive zones defined by surveys completed using HPX TechCo Inc’s (“HPX”) proprietary Typhoon™ electromagnetic geophysical technology (“Typhoon”). Boreholes were drilled at three sites: Samapleu, Bounta and Yepleu, and located over 25 kilometers of strike distance within the Yacouba Ultramafic-Mafic intrusive complex, which was discovered by Sama in 2010 (Figure 1).Assay results (see Table 1 below) indicate the high potential for additional nickel-copper-palladium mineralization at all three targeted zones. The follow-up field program will include performing downhole electromagnetic surveys (“DHTEM”) in recent holes at Yepleu and Bounta for additional definition of the highly conductive targets delineated by the Typhoon surveys.“It is clear that we are gaining a greater understanding of the entire system through the use of Typhoon and believe that our drilling is getting closer to discovering the sources of massive sulphides veins and lenses observed near surface.  Our partners at HPX have been key to increasing the speed at which we are able to unlock this evolving new discovery,” stated Dr. Marc-Antoine Audet, President & CEO of Sama Resources Inc.The mineralization encountered at the three target zones 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 millimetric to centimetric sulphide veins/accumulations. The textures of the sulphide mineralization vary from disseminated to semi-massive and massive (> 80% of sulphide material).Table 1: Drilling results for the 2020’s drilling campaign. Mineralised composites defined using 0.1% Ni cut-off-grade (“COG”) and including intervals defined using 0.5% Ni COG.HOLE-IDFromComposited LENGTHNICUCOPTPDAU  mm%%%gptgptgpt Samapleu          SM2020-01 64.153.000.430.300.020.040.560.01 619659E, 857382N, 547RLAz310, Dip-75including4.601.980.920.070.092.540.03            SM2020-02 480.15166.300.200.130.010.100.240.02 619894E, 856663N, 569RLAz315, Dip-73including2.300.610.940.020.030.560.04            SM2020-03 68.489.100.170.120.010.050.170.01 619739E, 857446N, 540RLAz310, Dip-65including0.650.560.180.030.090.680.00            SM2020-04 51.588.450.200.140.010.060.170.01 619656E, 857385N, 548RLAz310, Dip-75including1.800.600.470.030.120.820.05            SM2020-05 106.660.300.250.300.020.100.450.05 619664E, 857385N, 547RLAz315, Dip-85including5.450.650.780.030.111.140.24            Yepleu          YE2020-01 29014.900.320.150.020.050.070.01 609516E, 839803N, 786RLAz15, Dip-65including2.351.140.520.050.040.210.02            YE2020-02 369.1531.150.250.100.020.070.120.22 609161E, 839592N, 712RLAz230, Dip-70including4.700.760.320.040.200.470.07            YE2020-03 794.158.000.310.240.020.050.110.01 607565E, 839235N, 684RLAz100, Dip-80including1.001.091.290.050.160.180.03            Bounta          BN2020-01 533.25.700.380.250.020.020.110.04 615733E, 848484N, 642RLAz200, Dip-75including &1.200.790.390.040.030.230.03   including0.351.241.140.050.000.270.05 Borehole SM2020-01 (Refer: Press Release January 29, 2020, Figures 1 & 2) returned 53 meters grading 0.43% nickel, 0.30% copper and 0.52 grams per tonne (“gpt”) palladium, including 4.6 m grading 1.98% Ni and 0.92% Cu and 2.54 gpt Pd (see Photo 1 below). SM2020-1 was drilled 200 m southwest of the current mineral resources and extended the mineralized trend of the Samapleu surface deposit. Photo 1: SM2020-1 semi-massive to massive sulphides showing chalcopyrite, pentlandite and pyrrhotite grading 2.70% Nickel, 1.47% Copper and 3.31 gpt Palladium over 1.50 m at a depth of 110 m from surface https://www.globenewswire.com/NewsRoom/AttachmentNg/d11378a4-9153-4b71-9733-f245dc8fa370Borehole SM2020-02, drilled down to 688 m from surface returned 166 m of disseminated mineralization with stringers of semi-massive sulphides (Table 1).At Bounta, a new discovery located midway between Samapleu and Yepleu, borehole BN2020-01 returned disseminated 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 2). The mineralization encountered by BN2020-01 closely matched the moderately conductive EM plate but could not fully explain the high conductivity target defined by Typhoon survey (Figures 1 & 3). The follow-up field program will include DHTEM in BN2020-01 to more precisely locate the highly conductive target defined by the Typhoon.Photo 2: BN2020-1 semi-massive to massive sulphides showing similar composition as seen at Samapleu and Yepleu returning 1.24% Ni and 1.14% Cu over 0.35 m at a depth of 540.2 m from surface. https://www.globenewswire.com/NewsRoom/AttachmentNg/9a7e1635-52ee-4b74-9ac7-9cef229b86a0Figure 1: Sama 2020’s Typhoon surveys completed and target zones remaining. https://www.globenewswire.com/NewsRoom/AttachmentNg/65d9bfc9-46cb-4daa-bbbc-05af3a4720ebFigure 2: Samapleu deposits surface map showing holes SM2020-1 to 5 and the layout of the Typhoon survey. https://www.globenewswire.com/NewsRoom/AttachmentNg/36c09474-ef35-4037-b6fb-dd83d78cc5d8Figure 3: The Typhoon target at the Bounta sector together with boreholes BN2020-01. The mineralisation intercepted in BN2020-01 couldn’t explain the high conductivity target (11,000 CT) defined by the surface Typhoon. The following-up field program will include DHTEM in BN2020-01 for a more precise location of the highly conductive target defined by the Typhoon. https://www.globenewswire.com/NewsRoom/AttachmentNg/490f5400-4228-4358-9a29-5af228965b73Three holes were 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 (Figures 1 & 4). The mineralized horizon starts near surface, reaches a depth of more than 850 m toward the south-southwest and appears remain open. The very strong conductive target at 850 m depth from surface defined by Typhoon EM (15,000 conductivity thickness (“CT”)), remains untested as hole YE2020-03 deviated and intercepted the edge of the system. The mineralization encountered in YE2020-03 is encouraging but it does not explain high conductivity target defined by the Typhoon DHEM. Further downhole EM will better locate this target.Figure 4: Targets at the Yepleu sector showing the mineralized trend and results from the three boreholes drilled in 2020. https://www.globenewswire.com/NewsRoom/AttachmentNg/dfaab5c8-cb73-41bb-81bf-3a802e7270ddAbout HPXHPX 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 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.Core (NQ size) logging and sampling was performed at Sama’s facility in Yorodougou village.  Sample preparations was performed at Bureau Veritas Mineral Laboratory’s facility in Abidjan.  Sample pulps were shipped by courier to Activation Laboratory (Actlab) in Lancaster, Ontario, Canada.  All samples were assayed for Ni, Cu, Co, Pt, Pd and Au.FOR FURTHER INFORMATION, PLEASE CONTACT:SAMA RESOURCES INC./RESSOURCES SAMA INC. Dr. Marc-Antoine Audet, President and CEO Tel: (514) 726-4158 OR Mr. Matt Johnston, Corporate Development Advisor Tel: (604) 443-3835 Toll Free: 1 (877) 792-6688, Ext. 5Neither 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.Forward-Looking StatementsCertain 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.

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