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Sama Resources Announces New Ivory Coast Discovery Grading Up to 2.11% Nickel and 1.89% Copper on Surface
|By Marketwired .
|September 2, 2014 07:01 AM EDT
MONTREAL, QUEBEC -- (Marketwired) -- 09/02/14 -- Sama Resources Inc. (TSX VENTURE: SME) ("Sama" or the "Company") is pleased to announce a new mineralized surface discovery showing grading of up to 2.11% nickel and up to 1.89% copper (tested using hand held Niton XRF analyzer). This newly discovered mineralized sector, Bounta, is located nine kilometers southwest of the Samapleu nickel and copper deposits at the Samapleu project, Ivory Coast, West-Africa. The discovery outcrop shows blocks of mineralized pyroxenite with high concentrations of visible and altered nickel and copper bearing sulfide.
The Bounta deposit was discovered while field validating one of the numerous targets identified from the airborne helicopter time domain electromagnetic and magnetic survey (HTEM) carried out in 2013. The surface expression of Bounta's HTEM anomaly resembles the HTEM anomaly observed overlying the combined Samapleu and Extension 1 deposits. Detailed geological mapping is ongoing.
"The Bounta gossan is the second nickel-copper-palladium occurrence, after the Yepleu discovery, found outcropping at surface within the permitted Samapleu exploration area," stated Dr. Marc-Antoine Audet, President and Chief Executive Officer. "This is yet another testimony to the vast potential of the large nickel-copper-palladium mineralized intrusive system associated with the recently discovered Yacouba layered complex".
The hand held Niton XRF analyzer provides assay readings for a wide range of metallic elements including nickel and copper. Readings are made through a few square millimeters window at the sample surface. Several readings are used to generate an averaged value. Reported values obtained using the Niton XRF analyzer are being used only for exploration planning.
Sama's exploration program is currently in the advanced phases at the Company's Samapleu Project. Future development will be managed through the joint venture owned by Sama Nickel Corporation, a wholly-owned subsidiary of the Company (66 2/3%), and Societe pour le Developpement Minier de Cote d'Ivoire (33 1/3%).
Readers are invited to view location maps and photos of the Bounta gossan and the Niton XRF reading, which may be accessed via the following links.
The technical information in this release has been reviewed and approved by Dr. Marc-Antoine Audet, P.Geo, President and Chief Executive Officer, Sama and the Company's qualified person, as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects.
Readers are invited to visit the Company's website for an updated copy of the Sama's corporate presentation and additional details at http://www.samaresources.com/i/pdf/Sama_Corporate_Presentation.pdf.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Certain of the statements made and information contained herein are "forward-looking statements" within the meaning of Canadian securities legislation or "forward-looking information" within the meaning of the Ontario Securities Act and the Securities Act (British Columbia). This includes statements concerning the Company's plans at its mineral properties, which involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company, or industry results, to vary or be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or forward-looking information. Information regarding drilling results may also be deemed to be forward-looking statements or forward-looking information in that they reflect a prediction of what may be found to be present when and if a project is actually developed.
Forward-looking statements and forward-looking information 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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