(TheNewswire)
Starting June 01, five drilling rigs will be in operation at the Grata and Samapleu deposits.
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Four holes drilled at the newly discovered Grata prospect in Ivory Coast returned thick intersections of nickel-copper-palladium mineralization including holes GR-08 and GR-11 with 298 meters and 212 meters respectively
Highlights
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GR-06B: returned 60.15 m at 0.36% Ni, 0.40% Cu, 0.53 gpt Pd including 7.70m at 1.28%Ni, 1.45% Cu and 1.92 gpt Pd
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GR-06C: returned 116.15 m at 0.26% Ni, 0.25% Cu, 0.62 gpt Pd including 9.05m at 0.81%Ni, 0.84% Cu and 1.03 gpt Pd
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GR-08: returned 297.64m at 0.24% Ni, 0.20% Cu, 0.23 gpt Pd including:
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2.85m @ 1.68%Ni, 1.28% Cu and 1.12 gpt Pd
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4.25m @ 0.82%Ni, 0.55% Cu and 0.56 gpt Pd
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2.65m @ 1.47%Ni, 1.82% Cu and 1.19 gpt Pd
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GR-11: returned 212 m at 0.28% Ni, 0.30% Cu 0.32 gpt Pd
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8.20m @ 0.84% Ni, 1.10% Cu 1.24 gpt Pd
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+ numerous narrow massive and semi-massive stringers
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Results are pending for 11 holes drilled at Grata since January 2022.
Montréal, Quebec – TheNewswire - May 26, 2022 – Sama Resources Inc. ("Sama" or the "Company") (TSXV:SME ) ( OTC:SAMMF) is pleased to announce additional drilling results from the 2021-22 drilling campaign at the newly discovered Grata Nickel (" Ni ") – Copper (" Cu ") – Palladium (" Pd ") prospect (" Grata "). As of this Press Release, Sama has drilled a total of 23 drill holes for 7,673 meters (" m ") at the Grata discovery. Assay results for holes GR-06B, GR-06C, GR-08 and GR-11 are summarized in this PR and in Table 1.
A 5,000m drilling contract was awarded to Foraco-Foremi, an Ivorian drilling contractor, for suppling 2 drilling rigs to the Grata project starting June 01. There will then be 5 drilling rigs operating at the project site.
" Using five drilling rigs at Grata and Samapleu will allow Sama to fast track definition drilling at both sites aiming for a revised mineral resource estimate in Q3 " stated Dr. Marc-Antoine Audet, President & CEO of Sama Resources Inc. Dr. Audet added: By selling 5.6M shares of SRG Mining (ref: Press Release dated May 18, 2022) for almost C$4.0M, Sama is continuing to fulfill its objective of financing exploration at our various project sites without further dilution to shareholders. The use of proceeds is for advancing Sama Resources Quebec's (SRQ) nickel-copper-platinoids project at Lac Brulé and for project generation. "
Table 1 summarizes results for the 2021-22 drilling campaign. Assays results for 11 holes drilled since January are pending. All measurements are core lengths and may not represent true geological widths.
Grata: Latest discovery in the Yacouba Mafic-Ultramafic ("UM") Intrusive Complex
In September 2021, Sama announced the Grata discovery located 5 kilometers (" km ") east of the Samapleu deposit.
The discovery hole, GR-03, drilled in June 2021, returned a 310 m sequence of pyroxenite and gabbro containing a 147 m interval of disseminated sulfides and several intersections of semi-massive sulphide mineralization. The second hole GR-04 confirmed the width of the mineralized zone, with a 141 m mineralized intersection including 6.40 m and 6.60 m intervals grading 1.05% Ni, 1.28% Cu & 0.48 gpt Pd and 0.73% Ni, 0.38% Cu & 0.30 gpt Pd respectively. Hole GR-05 returned 117m @ 0.29% Ni, 0.31% Cu & 0.42 gpt Pd. Hole GR-06 included 14.10m at 0.86% Ni, 1.49% Cu and 1.38 gpt Pd within a larger interval of 128m at 0.30% Ni, 0.35% Cu & 0.47 gpt Pd. Hole GR-07 returned 22m at 0.41% Ni, 0.28% Cu and 0.43 gpt Pd.
Three holes were drilled form the GR-06 location in order to better understand the geometry of the mineralized zones. Hole GR-06B returned 60.15 m at 0.36% Ni, 0.40% Cu, 0.53 gpt Pd including 7.70m at 1.28% Ni, 1.45% Cu and 1.92 gpt Pd and hole GR-06C returned 116.15 m at 0.26% Ni, 0.25% Cu, 0.62 gpt Pd including 9.05m at 0.81%Ni, 0.84% Cu and 1.03 gpt Pd. Results for hole GR-06D are still pending.
Hole GR-08 returned 297.64m at 0.24% Ni, 0.20% Cu, 0.23 gpt Pd including 2.85m @ 1.68% Ni, 1.28% Cu and 1.12 gpt Pd, 4.25m @ 0.82% Ni, 0.55% Cu and 0.56 gpt Pd and 2.65m @ 1.47% Ni, 1.82% Cu and 1.19 gpt Pd. Hole GR-11 returned 212 m at 0.28% Ni, 0.30% Cu and 0.32 gpt Pd including 8.20m @ 0.84% Ni, 1.10% Cu and 1.24 gpt Pd, with several narrow massive and semi-massive stringers scattered along the mineral interval.
All measurements are core length.
The mineralization at Grata is similar in composition to the Samapleu deposit (" Samapleu ") but shows a larger proportion of chalcopyrite and therefore a higher Cu to Ni ratio. This relationship between Cu and Ni is particularly evident in the GR-06 mineralized zones ( Figure 3 ).
The Company is looking at increasing mineral resources at Samapleu and Grata for a future surface mining operation as well as searching for massive sulphide veins and lenses that could have accumulated at depth in traps and embayments along the feeder system of the Yacouba UM Intrusive Complex.
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Figure 1: Newly discovered zone at Grata is located 5 km east of Samapleu showing results for GR-06B, -06C, -08 and -11.
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Figure 2: Â Cross-section SW-NE at Grata showing results to date for the 2021-22 drilling campaign, Assay results for 11 holes are still pending. The GR-08 hole remained within the Yacouba UM complex for 297 m with mineralization ranging from disseminated to numerous intervals of massive to semi-massive Ni-Cu rich sulphide veins and stringers.
Table 1: Summary of 2021-22 drilling program at Grata (all intersections are in core lengths)
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Co re logging and sampling was performed at Sama's Samapleu and Yepleu field facilities. Sample preparation was conducted at the Bureau Veritas Mineral Laboratory in Abidjan . Sample pulps were delivered to Activation Laboratories Ltd, Ancaster and Thunder Bay, Ontario, Canada, for assaying. All samples were assayed for Ni, Cu, Co, Pt, Pd, Au, Fe and S.
The technical information in this release has been reviewed and approved by Dr. Marc-Antoine Audet, Ph.D Geology, 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.
Seahawk Gold Corp.
The Company wishes to announce the termination of the previously announced agreement with Seahawk Gold Corp. (" Seahawk" ) to complete an acquisition of the Company's subsidiary, Sama Resources Development Corp. (Cayman). Â The termination was agreed to by both Sama and Seahawk.
ABOUT SAMA RESOURCES INC.
Sama is a Canadian-based mineral exploration and development company with projects in West Africa and now in Canada.
On March 19, 2021 Sama formalised a Joint Venture Agreement Ivanhoe Electric Inc, a private mineral exploration company in which mining entrepreneur Robert Friedland is a significant stakeholder, in order to develop its Ivorian 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 .
ABOUT IVANHOE ELECTRIC INC.
Ivanhoe Electric Inc. is a privately-owned company focused on making technology-enabled metals discoveries for the electrification of everything. The Company deploys proprietary and disruptive technology that de-risks mineral and water discoveries. Ivanhoe Electric is focused on "electric metals" (copper, nickel, gold and silver) mining assets for the electric revolution. For further information, please visit www.ivanhoeelectric.com .
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 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 "will", could", "expect", "estimate", "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 ability of the company to convert resources in reserves, its ability to see through the next phase of development on the project, its ability to produce a pre-feasibility study or a feasibility study regarding the project, its ability to execute on its development plans in terms of metallurgy or exploration, 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) 2022 TheNewswire - All rights reserved.
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Sama Enters into Share Purchase Agreements for Sale of 5,625,000 shares in SRG Mining Inc.
(TheNewswire)
Montreal, Quebec TheNewswire - May 17, 2022 Sama Resources Inc. (" Sama ") (TSXV:SME ) ( OTC:SAMMF) wishes to announce that it has entered into Share Purchase Agreements (the " Agreements ") with various purchasers to sell 5,625,000 shares (the " Common Shares ) of SRG Mining Inc. (" SRG "), for an aggregate purchase price (the " Purchase Price ") of CDN$3,937,500 (the " Transaction "). The Transaction closed on May 17, 2022.
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Sama Resources Quebec Completed a 1,494 line-km HELITEM2 Survey at the Lac Brule Nickel-Copper Project in the Province of Quebec outlining several high conductivity zones.
(TheNewswire)
Highlights:
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A 1,494 line-km HELITEM survey outlined several high conductivity-thickness (CTP) zones characterised with elevated conductivity levels near the discovered gossan and along an interpreted 10 km-long folded amphibolite unit.
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Based on these excellent results, a large exploration program is planned for summer 2022 at the Lac Brulé and Lac Brennan properties. Exploration works will include geological mapping and sampling, ground geophysical survey aimed at drilling priority targets by the fall of 2022. An existing vast network of forestry roads and bridges will greatly facilitate access for all our exploration works.
Montréal, Quebec TheNewswire - March 22, 2022 Sama Resource Inc. ("Sama" or the "Company") (TSXV:SME ) | ( OTC:SAMMF) is pleased to report that Sama Resources Québec Inc. (" SRQ ") a fully owned subsidiary of the Company has announced the completion and interpretation of a HELITEM 2 electromagnetic and magnetic helicopter geophysical survey of 1,494 line-kilometres (line-km) at the new Lac Brulé nickel-copper property in the Province of Québec, Canada ( Figure 1 ).
A s a follow-up on the new gossan discovered in May 2021 (see Press Release 2021-06-16)* 1 , SRQ commissioned Xcalibur Multiphysics (MPH) Canada Inc. for a HELITEM 2 electromagnetic survey supplemented by a high-sensitivity cesium magnetometer. One block of claims (390 claims) was flown between December 5 and December 14, 2021. The survey coverage consisted of 1,374 km of traverse lines flown with a spacing of 200 and 100 metres (" m ") and 119 km of tie lines with a 2000 m spacing.
Figures 2 to 5 show Xcalibur's final compilation outlining several high conductivity-thickness-product (" CTP ") areas grading 5 to 6 on the Conductivity Grade scale ( Table1 ). Highest Conductivity Grade and CTP, outlined by the late off-time channel/gates ( Figures 2 & 5 ), are located next to the discovered gossan. Figure 6 shows the rooted EM response down to 600 m from surface. Â Detailed Interpretation and targets modeling will be performed by M. Joel Simard, P. Geol./Geoph based in St-Donat, Quebec province, Canada.
* 1 (Gossans are highly ferruginous rock which is the product of the oxidation by weathering and leaching of a sulfide body: Elsevier Mineral Exploration 2013)
" While we are fully committed at exploring and developing our Ivorian Samapleu Ni-Cu-PGM assets with our partner Ivanhoe Electric, Sama is demonstrating its ability at finding new highly prospective grounds worldwide in totally virgin territories." s aid Marc-Antoine Audet, Ph.D, P.Geo and CEO of Sama Resources Inc. Dr. Audet is continuing by saying " SRQ's 100% owned Lac Brulé project is only 5 hours driving north of Montreal, Québec Province, which greatly facilitate our upcoming explorations programs"
No historical prospecting or ground exploration had been reported from the Lac Brulé area prior to SRQ.
The past-producing Renzi nickel-copper mine is the closest mining activity with historical information available. The Renzi mine is located 48 km east-southeast of the Lac Brulé property. The Company is targetin g possible accumulations of Ni and Cu mineralisation at Lac Brulé that could be of similar nature to that at the Renzy mine, Voisey Bay Ni-Cu mine and at other well-known Ni-Cu deposits in Canada and worldwide.
Geophysical HELITEM 2 electromagnetic Program
The HELITEM 2 system is composed of a 40 m cable to which is attached the transmitter loop. The receiver platform and the receiver coil are located at the centre of the 35 m diameter transmitter loop approximately 0.1 m above the centre of the transmitter plane. The real time navigation GPS antenna is on the tail boom of the helicopter. The barometric altimeter, radar altimeter, laser altimeter, video camera and data recorder are all installed in the helicopter. GPS antennae are attached to the transmitter loop to give positional information and transmitter orientation.
The survey used a 7.5 Hertz (" Hz ") one half cycle of the HELITEM 2 system is made up of a square pulse (on-time) of approximately thirty-four milliseconds in duration followed by approximately thirty-four milliseconds of off-time before the pulse is repeated with the opposite polarity. After acquisition the measured data are windowed into twenty-five ranges called "gates". Gate widths increase as time after turn-off increases because as the energy from the transmitter decays a wider sample must be taken to get a valid average. The position of the first off-time gate is selected after examining several flights of data and is as close to the transmitter turn off as possible. The power of the pulse causes eddy currents in the system after the turn off and the first off-time gate cannot start until these have died away. The earliest data has had less time to penetrate the subsurface and so contains information from the near surface. Detailed technical information on the survey is available on Sama's website.
Xcalibur MPH selected electromagnetic (" EM ") anomalies automatically using proprietary software from both X and Z components using the fourth off-time gate and a threshold of 100 nT/s . These automatically generated anomalies were then examined in profile form for each line against the X & Z EM responses, decay information, magnetic responses, altimeter readings and flight path videos removing those not considered valid and adding additional anomalies missed by the threshold. For each anomaly the conductor type was interpreted and assigned to each anomaly. After reviewing all anomalies, the following parameters were associated with each anomaly using the data for the fourth off-time gate and where applicable: conductivity-thickness-product (CTP) ( Table 1 ), amplitude of EM response, last off-time channel with an anomalous response, time constant, apparent depth and dip.
Table 1: Â Xcalibur's MPH (proprietary) EM Anomaly characterisation (Conductor Grade and CTP)
( Fourth off-time gate and a threshold of 100 nT/s )
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Figure 1: SRQ's Lac Brulé project is located 148 km West-Northwest of Mont-Laurier and 290 km Northwest of Montreal. The project area is located 5 hours driving north of Montreal. SRQ owns a second block of claims (Lac Brennan) overlying an isolated gravity high in prolongation of the "Renzi shear zone". The old Renzy Ni-Cu mine operated from 1969 to 1972 selling nickel and copper concentrate to Falconbridge in Sudbury, Ontario.
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Figure 2: Apparent Conductivity: late off-time channel/gates showing several distinc high conductivity (CTP) areas. The composantes X and Z responses of the strong conductor (Conductor Grade: 5 and 6, see Table 1) located next to the surface gossan is also shown.
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Figure 3: Apparent Conductivity: early off-time channel/gates. The gossan location is shown with a star.
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Figure 4: Total Magnetic Intensity for the Lac Brulé project. The interpreted trace of amphibolite units is shown.
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Figure 5: EM Conductivity together with Conductor Classification defining two main sectors for follow-up: Gossan Zone and the North Zone.
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Figure 6: Differential conductivity: 600m depth slice.
2022 Exploration Program
SRQ will continue surface exploration at the Lac Brulé and Lac Brennan properties. Exploration works will include geological mapping and sampling, ground geophysical survey aiming at drilling priority targets by the fall of 2022. An existing vast network of forestry roads and bridges will greatly facilitate access for all our exploration works.
Readers are invited to view the updated Corporate Presentation showing exploration progress at all our properties : https://samaresources.com/i/pdf/Sama_Corporate_Presentation.pdf
The technical information in this release has been reviewed and approved by Dr. Marc-Antoine Audet, Ph.D geology, 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.
ABOUT SAMA RESOURCES INC.
Sama is a Canadian-based mineral exploration and development company with projects in West Africa and now in Canada.
In Côte d'Ivoire only, Sama, has a strategic partnership to develop the Samapleu-Yepleu nickel-copper-palladium project with Ivanhoe Electric (previously HPX) of which mining entrepreneur Robert Friedland is a significant stakeholder. For more information about Sama, please visit Sama's website at http://www.samaresources.com .
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 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 "plan", "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) 2022 TheNewswire - All rights reserved.
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