MONTREAL, June 04, 2019 (GLOBE NEWSWIRE) -- Sama Resources Inc. (“Sama”) (TSX-V: SME | OTC-PK: SAMMF) and HPX TechCo Inc. (“HPX”), a subsidiary of High Power Exploration Inc., a private mineral exploration company in which mining entrepreneur Robert Friedland is a significant stake holder, are pleased to announce mineralized intervals from the second and third deep holes (YE29-553044 & YE22-225440; ref: press release of April 23, 2019) at the Yepleu Nickel-Copper-Cobalt-Palladium Project in Côte d’Ivoire. YE29-553044 returned 13.4 meter (“m”) of disseminated and semi-massive sulfides grading 0.76% nickel, 0.47% copper, 0.16 grams per tonne (‘g/t”) palladium (“Pd”) within a larger interval of 36 m of disseminated sulphide mineralisation grading 0.40% nickel, 0.24% copper and 0.10 g/t Pd. Hole YE22-225440 returned 13.4 m grading 0.40% Ni, 0.29% Cu and 0.10 g/t Pd including 1.7 m at 1.80% Ni, 0.57% Cu and 0.28 g/t Pd.
Sama and HPX are also very pleased to announce that Hon. Jean-Claude Kouassi, Côte d’Ivoire’s Minister of Mines and Geology, and Hon. Abdallah Albert Toikeusse Mabri, Minister for Higher Education and Scientific Innovation, recently visited the Yepleu Project. Sama is exploring the Yepleu Project through a strategic partnership with HPX, utilizing HPX’s Typhoon electromagnetic geophysical survey technology.
The Ministers were shown Typhoon in operation, as well as drill core from the nickel-copper-palladium mineralization discovered 550 metres below the surface in drill hole YE22-225440 following interpretation of the Phase 1 Typhoon survey in 2018.
“We are pleased to host Ministers Kouassi and Mabri at our project. Minister Mabri is also the government representative of Région du Tonkpi, the region in which we operate, so it was important that both Ministers came away very impressed by the technical innovations that Sama and HPX have introduced in Côte d’Ivoire,” said Dr. Marc-Antoine Audet, President and CEO of Sama Resources.
Dr. Audet added: “The Ministers now are well aware that in addition to established open-pit gold mines, Côte d’Ivoire has the potential for nickel-copper-cobalt-palladium deposits both at the surface and at depth within Sama’s newly-discovered Yacouba layered complex. We look forward to continuing our relationship with the government as we advance our exploration efforts with our strategic partner HPX.”
Eric Finlayson, President of HPX, said: “Following the excellent correlation between the Typhoon electromagnetic targets and mineralization found in subsequent drilling, we are very pleased to see Typhoon used for high-resolution downhole electromagnetic work. This is the first time that Typhoon has been used in downhole mode, and we are confident that its power and high signal quality will continue to define new targets for drill testing.”
Figure 1: Sama Resources’ CEO, Dr. Marc-Antoine Audet (foreground, left), showing Minister Kouassi (centre) and Minister Mabri (right) disseminated to semi-massive and massive sulphide drill core from holes drilled at Yepleu at the exact location predicted by the Phase 1 Typhoon geophysical survey.
Figure 2: (From left to right) Coulibaly Seydou, Advisor, Dr. Audet, Minister Mabri, Minister Kouassi, and Coulibaly Ibrahima, Department of Mines Director, in front of the Typhoon generator at the Yepleu Project.
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
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
Matt Johnston, Corporate Development Advisor
Tel: (604) 443-3835
Toll Free: 1 (877) 792-6688, Ext. 5
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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 “confirm”, “evidence”, “potential”, “validate”, “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.
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