MONTREAL, April 04, 2019 (GLOBE NEWSWIRE) -- Sama Resources Inc. (“Sama” or the “Company”) (TSXV: SME | OTC.PK: SAMMF) is pleased to announce that a second hole drilled at Yepleu Sector 1 as a follow-up on the mineralized zone intersected on the first deep hole (ref: press release of December 12, 2018) returned a mineralized zone of 54 metres (“m”) of disseminated to semi-massive and massive sulphide material from 585 m to 639 m from the surface. Assays results are pending.
Table 1: Drilling summary at the Yepleu project.
|Yepleu Sector 1|
|YE29-556043||325||-75||903||37m @ 0.4% Ni including 5.2m @ 1.16% Ni|
|YE29-553044||323||-69||799||Follow-up hole: 54 m diss, semi-massive to massive, assays results are pending|
|Yepleu Sector 2|
|YE29-713721||235||-75||924.3||490-495m: diss & semi-massive, 607 to 613m disseminated, assays results are pending|
|Yepleu Sector 3|
|YE45-348721||270||-85||579.30||Technical problem, stopped at 579m, re-drilled with YE45-348726|
|YE45-348726||270||-85||current||Currently at 785 m, should reach 1,200 m final depth|
“Sama’s newly discovered mineralization at 600 m depth at Yepleu Sector 1 within the Yacouba Intrusive Complex (dated as the same age as the Bushveld Complex in RSA (2.1 Ga) which hosts the large nickel-palladium Platreef deposit) is further evidence that the Yacouba intrusion system has the potential to host a significant amount of high-grade nickel-copper-cobalt- palladium mineralization in reservoirs and pods that are yet to be discovered,” stated Dr. Marc-Antoine Audet, President and CEO of Sama.
Dr. Audet added: “Sama has outlined a 66 km strike length for the Yacouba Intrusive Complex. The Yepleu area appears to be the center of the intrusion from where it seems to have “radiated” in all directions. This observation suggests that the Yepleu area is as proximal as we can get to the magmatic hot spot.”
Additionally, the Company is beginning Phase 2 of the Typhoon™ electromagnetic geophysical survey (“Typhoon”) at Yepleu. A total of 5 new sectors at Yepleu and one sector at the Grata license (ref: map below) will be covered by the second Typhoon phase. The Company is exploring the Yepleu Project through a strategic partnership with HPX TechCo Inc. (“HPX”), a private mineral exploration company in which mining entrepreneur Robert Friedland is a significant stakeholder.
Figure 1 below shows the 2018 Helicopter EM survey (HTEM). The warm colour contours are the results of the conductivity intensity from the HTEM survey. The warmer the colour, the higher the conductivity. There are numerous HTEM targets to conduct follow up on. So far, Sama has only followed-up three HTEM targets with the Typhoon survey conducted last year and has outlined three specific sectors for the current drilling program; Sectors 1, 2 and 3.
Sama now has access to a larger area than in 2018 and will proceed with Typhoon surveys at “Loop” 5 to 10 in the coming months. Although mineralization that is being discovered at Sectors 1 to 3 is proof that the original HTEM targets were legitimate, areas that will be covered with Typhoon surveys at loops 8, 9 and 10 have much larger size potential.
Figure 1: Surface map at the Yepleu prospect showing the Phase 2 Typhoon program together with boreholes drilled to date is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/f38c200b-c577-4a48-90f1-4e0cd808ff1f. Borehole YE45-348726 is current and has not yet reached the target zone (ref to Table 1 above).
Figure 2: Surface map at Yepleu Sector 1, showing the target zone as defined by Mise a la Masse and Typhoon results (ref: Press Release of March 12, 2019) together with the recent borehole’s intersects is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/d0e4c072-a9d6-4438-b7c7-b86e93e880fc
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.