Sama Resources (SME-V) Sept 28, '16 announces that the Company will proceed with a down-hole geophysical survey at two project locations in Ivory Coast, West-Africa.
The geophysical testing will commence in October and surveyed boreholes will include the 620 meters ("m") long SM34-564718 at the Samapleu main deposit and the recently drilled 342 m long GR72-787708 at the Grata property. The survey will be performed under the supervision of Abitibi Geophysics, Val d'Or, Canada.
The company's exploration objective is to delineate massive sulphide reservoirs that could be the source of high grade nickel ("Ni") - copper ("Cu") - palladium ("Pd") lenses intercepted in shallower boreholes at the Samapleu deposits. The following table has select highlights of high-grade drill results at the Samapleu and Yepleu. They have all been previously announced and readers are encouraged to see previous news releases for full details.
At Samapleu, the 2014's borehole SM34-564718 tested the pipe-like intrusion at depth and intercepted more than 200m of ultramafic layers with disseminated sulphite from 420m to the bottom. The borehole was terminated within the ultramafic complex. The borehole is located 150m from another hole (SM44-693140b) which intercepted 91m of ultramafic sequence with mineralisation up to 6.55% Cu and an interval of 3.4m grading 1.12% Ni, 0.50% Cu and 1.61gpt Pd intercepted at the bottom of the hole (from 594m) which suggest that the mineralization continued at depth.
The Grata Permit is located adjacent to the north-eastern boundary of the Samapleu exploration permit (PR 123). Sama believes that ultramafic sequences of the recently outlined large Yacouba Layered Complex which hosts the Samapleu nickel-copper-palladium deposits, are extending within the Grata Permit and as such represent a prime target for nickel-copper-palladium mineralization. The borehole GR72-787708 has been terminated at 342m and intersected the typical Yacouba complex sequence including fractured pyroxenite and gabbro with sulphide mineralisation as fractures filling between 180 and 187m.
Highlight table of high-grade drill intercepts previously reported
| Hole-ID | | From | | To | | Interval | | Ni | | Cu | | Pd | | Date of News Release | | | | m | | m | | m | | % | | % | | gr/t | | | | Samapleu Deposits | | | | | | | | | | | | | | SM44-428267 | | 15.00 | | 68.90 | | 53.90 | | 0.96 | | 0.76 | | 0.74 | | April 20, 2015 | | including | | 57.65 | | 60.55 | | 2.90 | | 4.45 | | 2.20 | | 3.08 | | | | including | | 62.90 | | 68.00 | | 5.10 | | 3.87 | | 2.56 | | 2.83 | | | | SM25-133537 | | 30.00 | | 63.00 | | 33.00 | | 0.38 | | 0.31 | | 0.63 | | April 20, 2015 | | including | | 32.45 | | 36.65 | | 4.20 | | 1.13 | | 1.03 | | 1.75 | | | | SM44-683140 | | 347.00 | | 495.85 | | 149.00 | | 0.30 | | 0.29 | | 0.42 | | August 12, 2014 | | including | | 347.00 | | 356.20 | | 9.20 | | 0.46 | | 1.12 | | 1.11 | | | | SM44-693140b | | 513.20 | | 604.40 | | 91.20 | | 0.25 | | 0.17 | | 0.24 | | August 12, 2014 | | including | | 513.95 | | 514.25 | | 0.30 | | 0.19 | | 6.55 | | 1.99 | | | | including | | 594.15 | | 597.55 | | 3.40 | | 1.12 | | 0.50 | | 1.61 | | | | SM44-494350b | | 11.00 | | 64.00 | | 53.00 | | 0.52 | | 0.50 | | 0.31 | | February 16, 2012 | | including | | 29.20 | | 34.80 | | 5.60 | | 1.91 | | 1.71 | | 0.94 | | | | SM44-450250b | | 33.50 | | 92.90 | | 59.40 | | 0.89 | | 0.86 | | 0.81 | | June 20, 2011 | | including | | 85.25 | | 91.90 | | 6.65 | | 3.80 | | 2.92 | | 3.09 | | | | SM44-492354 | | 10.00 | | 61.00 | | 51.00 | | 0.72 | | 0.61 | | 0.45 | | January 10, 2011 | | including | | 36.00 | | 46.00 | | 10.00 | | 1.76 | | 1.30 | | 1.00 | | | | including | | 24.00 | | 29.00 | | 5.00 | | 1.32 | | 1.18 | | 0.75 | | | | SM44-450250 | | 13.50 | | 102.80 | | 89.30 | | 0.66 | | 0.64 | | 0.58 | | May 31, 2010 | | including | | 86.60 | | 101.60 | | 17.00 | | 1.99 | | 1.96 | | 1.49 | | | | SM25-112519 | | 22.00 | | 144.00 | | 122.00 | | 0.44 | | 0.32 | | 0.94 | | | | including | | 84.90 | | 95.90 | | 11.00 | | 1.89 | | 0.78 | | 2.84 | | | | SM24-661614 | | 67.30 | | 244.00 | | 176.70 | | 0.26 | | 0.20 | | 0.49 | | June 26, 2010 | | including | | 162.00 | | 170.60 | | 8.60 | | 1.02 | | 0.95 | | 1.51 | | | | | | | | | | | | | | | | | | | | Yepleu | | | | | | | | | | | | | | | | YE34-418407a | | 26.15 | | 48.00 | | 21.85 | | 0.42 | | 0.23 | | 0.12 | | January 14, 2014 | | including | | | | | | 4.40 | | 1.13 | | 0.14 | | 0.29 | | |
These rare pipe like intrusions host the world's largest nickel-copper deposits like Jinchuan, 515 million tonnes ("Mt") at 1.06% Ni; Voisey Bay, 137Mt at 1.68% Ni; Kabanga, 52Mt at 2.65% Ni; Eagle, 4.5Mt at 3.33% Ni; Eagle Nest, 20Mt at 1.68% Ni; Kalatongke, 24Mt at 0.68% Ni and N'komati 2.8Mt at 2.08% Ni.
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.
EXTENSION OF WARRANTS
The Company announces that it intends to amend the expiry date of an aggregate total of 5,992,001 unexercised share purchase warrants (the "Warrants") by a further 18 months. The extension is subject to the approval of the TSX Venture Exchange (the "Exchange").
Pursuant to the non-brokered unit private placement announced on December 9, 2014 and closed in two tranches with an initial tranche closing on December 19, 2014, for a total of 5,811,092 Warrants being issued and expiring on December 19, 2016. The final tranche closing on February 6, 2015, for a total of 180,909 Warrants being issued and expiring on February 5, 2017. All Warrants currently remain outstanding. The expiry date will be extended to June 19, 2018 and August 8, 2018 for the respective tranches. All other terms of the Warrants will remain the same. Under the policies of the Exchange, the 5,700 additional Warrants issued as finders' fees are not eligible to be extended.
Sama Resources Inc./Ressources Sama Inc.
Dr. Marc-Antoine Audet
President and CEO
(514) 726-4158
Sama Resources Inc./Ressources Sama Inc.
Mr. Matt Johnston
Corporate Development Advisor
(604) 443-3835
Toll Free: 1 (877) 792-6688, Ext. 5 |
