Sama Resumes Exploration Activity Targeting Typhoon High Conductivity Nickel-Copper-Palladium Anomalies at Depth

 

(TheNewswire)

   

Sama Resources Inc. (" Sama " or the " Company ") (TSXV: SME ) | ( OTC :SAMMF ) is pleased to announce that geophysical activities have resumed on the Cote D'Ivoire nickel project, with downhole electromagnetic (" EM ") surveys (" DHTEM ") planned in four deep drill holes at the Yepleu target zone and in one deep drill hole at the Bounta target zone. The holes at Yepleu and Bounta were drilled in the early months of 2020, with both zones part of the large Yacouba Ultramafic-Mafic intrusive complex discovered by Sama in 2010 (ref: Press Release: August 08, 2020), (Figure 1). The DHTEM surveys are using HPX TechCo Inc.'s (" HPX ") proprietary Typhoon (TM) electromagnetic geophysical transmitter (" Typhoon "), maximising power transmission for higher resolution at depth

 

    
Click Image To View Full Size
 

 

  Figure 1: Sama 2020's Typhoon surveys completed and target zones remaining   .  

 

  DHTEM - Yepleu Target Zone  

 

  DHTEM surveying is underway, starting with borehole YE2020-03 (Figures 2 & 3) at the Yepleu zone, which returned 8.00 meters ("   m   ") of mineralised material at 850 m from surface grading 0.31% nickel ("   Ni   ") and 0.24% copper ("   Cu   ") including 1.00 m at 1.08% Ni, 1.29 % Cu and 0.18 gram per tonne ("   gpt   ") Palladium. The mineralization encountered in YE2020-03 does not explain the very high conductivity target located nearby and defined by the previous Typhoon surface EM survey (15,000 conductivity thickness ("   CT   ")). DHTEM surveys will follow with boreholes YE2020-01 and YE2020-02. Both holes returned   mineralization characterized by aggregates of the nickel, copper and iron sulphides - pentlandite, chalcopyrite and pyrrhotite, respectively.  

 

  DHTEM - Bounta Target Zone  

 

  The current DHTEM program includes surveying borehole BM2020-01 at the Bounta zone, a new discovery located midway between Samapleu and Yepleu. Borehole BM2020-01 returned disseminated mineralization 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 1). The mineralization encountered by BN2020-01 closely matched the moderately conductive EM plate but could not fully explain the high conductivity target defined by the Typhoon surface EM survey (Figure 4). The DHTEM should delineate with more accuracy the centre of the strong conductor.  

 

    
Click Image To View Full Size
 

 

  Figure 2: Targets at the Yepleu sector showing the mineralized trend and results from the three boreholes drilled in 2020.  

 

    
Click Image To View Full Size
 

 

  Figure 3: Targets at the Yepleu  

 

    
Click Image To View Full Size
 

 

  Photo 1: BN2020-1 semi-massive to massive sulphides showing similar composition to that and 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.  

 

    
Click Image To View Full Size
 

 

  Figure 4: The Typhoon target at the Bounta sector together with boreholes BN2020-01. The mineralisation intercepted in BN2020-01 could not explain the high conductivity target (11,000 CT) defined by the surface Typhoon survey.  

 

  Three holes 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 (Figure 2). The mineralized horizon starts near surface, reaches a depth of more than 850 m toward the south-southwest and appears to remain open. The very strong conductive target at 850 m depth from surface defined by Typhoon surface EM (15,000 CT), remains unexplained.  

 

  About HPX  

 

HPX 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 Cote d'Ivoire Nickel-Copper and Cobalt project in Cote d'Ivoire, West-Africa. For more information about Sama, please visit Sama's website at    https://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  

 

  OR  

 

  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.  

 

  Forward-Looking Statements  

 

  Certain 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.  

 

Copyright (c) 2020 TheNewswire - All rights reserved.

 

News Provided by TheNewsWire via QuoteMedia

The Conversation (0)
Closeup of periodic table highlighting nickel with a nickel block on its symbol.

South32 Announces Up to US$100 Million Sale of Cerro Matoso, Shifts Focus to Critical Minerals

South32 (ASX:S32,OTC Pink:SHTLF) said on Monday (July 7) that it has agreed to sell the Cerro Matoso nickel mine in Colombia to a subsidiary of CoreX Holding following recent changes in the nickel market.

South32 now plans to focus on critical minerals, describing its flagship Hermosa project in Patagonia as a “next generation mine.” Hermosa hosts the zinc-lead-silver Taylor sulphide deposit, and the zinc-manganese-silver Clark oxide deposit.

"The Transaction is consistent with our strategy and will further streamline our portfolio toward higher margin businesses in minerals and metals critical to the world’s energy transition,” said South32 CEO Graham Kerr.

Keep reading...Show less
FPX Nickel (TSXV:FPX)

FPX Nickel Completes Production Run of Battery-Grade Nickel Sulphate to Support Discussions with Prospective EV Battery Supply Chain Partners

FPX Nickel Corp. (TSXV: FPX) (OTCQB: FPOCF) ("FPX" or the "Company") is pleased to announce successful production of additional battery-grade nickel sulphate from its Baptiste Nickel Project ("Baptiste" or the "Project"). Building on the success of previous testing campaigns, a production run was completed to produce larger quantities of nickel sulphate crystals. The nickel sulphate samples, which meet the strict target specifications for battery applications, will be provided to selected prospective downstream partners including pCAM producers, battery companies, and automakers pursuing supply security, traceable sourcing, and low carbon intensity production.

"The production of high-purity nickel sulphate further positions us to engage in strategic discussions with prospective downstream partners across the global EV supply chain," commented Martin Turenne, FPX Nickel's President and Director. "This milestone further demonstrates the strategic flexibility of the Baptiste awaruite concentrate and the technical maturity of the awaruite refining process."

Keep reading...Show less
Nickel bars in front of a world map.

Top 9 Nickel-producing Countries

The top nickel producing countries list has been shaken in recent years by Indonesia's rapid rise to the top, beating the Philippines and New Caledonia.

Demand for nickel is mounting. Stainless steel accounts for the vast majority of nickel demand, but electric vehicle (EV) batteries represent a growing application for the base metal as the shift toward a greener future gains steam.

But while nickel's long-term outlook appears bright, it may face headwinds in the short term. Nickel prices have been trending down since breaking US$20,000 per metric ton in May 2024 as weak usage coincides with strong output from top producer Indonesia.

Keep reading...Show less
Ni-Co Energy

Ni-Co Energy Set to Mobilize Critical Minerals Exploration just 90 km from Montreal

Ni-Co Energy Inc. announces that its technical team will be mobilized to the Kremer property around mid-June 2025. The project is located approximately 90 km north of downtown Montreal and about 15 km from the nearest municipality, in a remote forested area with access via an existing road and close proximity to the hydroelectric grid.

Meet The Team:

Keep reading...Show less

Latest Press Releases

Related News

×