Sama Resources Inc. (TSX VENTURE:SME)-
Highlights
-- The inferred mineral resource at the Samapleu Main and Samapleu
Extension 1 deposits have increased by 231% since the maiden mineral
resource of June 2012.
-- The strike of the surface exposure at Samapleu Extension 1 extends
northeast- southwest and has been mapped for 2.1 kilometers.
-- Approximately 50% of the surface exposure defined to date remains to be
drill tested.
Sama Resources Inc. ("Sama" or the "Company") is pleased to announce that the
National Instrument 43-101 ("NI 43-101") compliant mineral resource estimate at
the Company's Samapleu Nickel-Copper-Palladium deposits in Cote d'Ivoire, West
Africa (the "Samapleu Project") has significantly increased since the June 2012
maiden mineral resource estimate ("2012 Resource Estimate"). The revised mineral
resource estimate includes an indicated mineral resource of 14.1 million tonnes
grading 0.24% nickel and 0.20% copper and containing 74.5 million pounds of
nickel and 61.2 million pounds of copper, together with an inferred mineral
resource of 26.5 million tonnes grading 0.24% nickel and 0.18% copper and
containing 134 million pounds of nickel and 107.2 million pounds of copper for
both the Samapleu Main and the Samapleu Extension 1 deposits.
Indicated and Inferred mineral resources have increased by 13% and 231%
respectively when compared to the 2012 Resource Estimate (please refer to June
21, 2012 Press Release).
Table 1: Samapleu Project Mineral Resources at 0.10% nickel cut-off grade,
August 2013.
-------------------------------------------------------------
-------------------------------------------------------------
Contained Contained
Classification Tonnes Nickel Copper
(,000) t (,000) Lbs (,000) Lbs
-------------------------------------------------------------
Indicated 14,159 74,500 61,200
Total Indicated 14,159 74,500 61,200
Inferred 26,480 134,000 107,200
-------------------------------------------------------------
-------------------------------------------------------------
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Nickel Copper Cobalt Platinum Palladium Gold Rhodium
Classification % % % gpt gpt gpt gpt
----------------------------------------------------------------------------
Indicated 0.24 0.20 0.02 0.11 0.29 0.03 0.01
Total Indicated 0.24 0.20 0.02 0.11 0.29 0.03 0.01
Inferred 0.24 0.18 0.01 0.09 0.31 0.03 0.01
----------------------------------------------------------------------------
----------------------------------------------------------------------------
NOTES:
-------
1. Results are presented in situ.
2. Block bulk densities were interpolated from specific gravity
measurements taken from core samples.
3. 1m composites were used during interpolation.
"We are pleased with this significant mineral resource increase which we
consider is a clear indication that the potential of the property is extensive",
commented Dr. Marc-Antoine Audet, President and CEO of Sama.
The mineral resource estimate for a cut-off of 0.1% was based on 110 boreholes
for a total of 17,273 metres ("m") and includes the Samapleu Main deposit and
part of the Samapleu Extension 1 deposit, 1.3 kilometres ("km") distance. The
Samapleu Main deposit was drilled on 25 m x 50 m centres while the Samapleu
Extension 1 deposit was drilled on 25 m x 25 m and 50 m x 50 m centres.
Since the 2012 Resource Estimate, a total of 2,069 additional samples were added
to the database, which represent 28% of the sample database. Of these additional
samples, 520 samples come from 6 boreholes drilled at the Samapleu Extension 1
deposit and one borehole drilled at the Samapleu Main deposit in 2012. The
remaining 1,549 additional samples, collected from 61 boreholes at both
deposits, are from previously unsampled intervals due to low percentage of
visible sulphide (from trace to 5%). In the 2012 Resource Estimate, these
non-sampled intervals were considered as having no value.
Mineralization is seen as predominantly disseminated sulphides within host
ultramafic sequences, dominated by pyroxenite, with lenses of semi-massive and
massive sulphide mineralization locally remobilized by tectonics. Both deposits
remain open below 200 m from surface. The strike of the surface exposure at the
Samapleu Extension 1 deposit extends northeast-southwest and has been mapped and
sampled for 2.1 km. Approximately 50% of the surface exposure defined to date
remains to be drill tested.
Sama wishes to emphasize that the mineral resources outlined herein excludes the
northeastern end of the Samapleu Extension 1 deposit where eight boreholes were
drilled since January 2013 (please refer to June 18, 2013 press release).
Resource Estimate Authorship and Methodology
A 3D block model was created for each sector; estimation was conducted using
Gemcom software. The mineral resources were estimated using Ordinary Kriging.
Blocks were determined using a minimum of 2 and a maximum of 12 composites with
a sample search ellipse 10 m x 30 m x 75 m oriented for each deposit as follows:
-- Main: 120/30/0 (Z, X, Z)
-- Extension 1: 45/15/0 (Z, X, Z)
A geological code system has been introduced and assigned to the various
lithological units, alteration, and mineralization. Continuity directions were
assessed based on the orientation of wireframes, composites and the spatial
distribution of the element in question. Variograms were generated for principal
variables of Nickel, Copper, Cobalt, Palladium, Platinum and Gold, based on 1m
downhole composites.
The Samapleu Projects block models were created by Sama's qualified geologist,
Dr. Marc-Antoine Audet, P.Geo. and were reviewed and controlled by Dr. M.A. Ben
Ayad, Ph.D, P.Geo. and Mr. Pierre Jean Lafleur, Eng., a Gemcom software expert.
Both Dr. Ayad, Ph.D, P.Geo and Mr. Lafleur, Eng. are "independent" of the
Company within the context of NI 43-101. The mineral resource estimate has been
classified and reported in accordance with the CIM guidelines (CIM 2005) and NI
43-101.
Dr. Ayad, Ph.D, P.Geo. validated the Samapleu block model using summary
statistics checking for global estimation bias, drift analysis, and visual
inspection. He visited the property from April 19, 2012 to April 22, 2012. He
reviewed and compiled data on core logging, QA/QC, density measurements,
sampling procedure, assays results and drilling database with assay certificate
crosschecks to assure the data integrity for the mineral resource update. He has
also reviewed the data from drilling completed since March 2010.
Both Dr. Ayad, Ph.D, P.Geo, and Mr. Lafleur, Eng. consider that Sama applied a
degree of care and diligence in monitoring the sample results for the Samapleu
Project in keeping with accepted industry standards, and the QA/QC procedures
and protocols employed were compliant in assuring that the sample data is
appropriate for use in mineral resource estimations.
Both Dr. Ayad, Ph.D, P.Geo and Mr. Lafleur, Eng. are not aware of any
environmental, permitting, legal, title, taxation, socio-political, marketing,
or other relevant issues that may materially affect this estimate of mineral
resources.
Qualified Persons Statement
Dr. Ben Ayad Ph.D, P.Geo. is a registered member of the "Ordre des Geologues du
Quebec",No. 1273 and Mr. Pierre Jean Lafleur, Eng. is a registered member of the
"Ordre de Ingenieurs du Quebec", No. 39862. Both Dr. Ayad, Ph.D, P.Geo and Mr.
Lafleur, P.Eng have more than 25 years of relevant experience each with the
style of mineralization and type of deposit under consideration and the activity
which they are undertaking to qualify as "Qualified Persons" as defined by NI
43-101.
The Samapleu Project
The Samapleu Project is currently in a relatively advanced exploration phase.
Future exploration will be managed by a joint venture currently controlled as to
66 2/3% by Sama Nickel Corporation, a wholly-owned subsidiary of the Company,
and as to 33 1/3% by Societe pour le Developpement Minier de Cote d'Ivoire.
Dr. Phillip Mackey, P.Eng., a metallurgical consultant, and Dr. M.A. Ben Ayad,
P.Geo, consulting geologist, are Independent Qualified Persons in the context of
NI 43-101, and have approved the technical information contained in this news
release.
Further details will be available in the NI 43-101 technical report being
prepared by GENIVAR Inc., which will be posted on SEDAR (www.sedar.com), within
45 days from the date of this release.
The reader is invited to review Sama's updated compilation on its website at
http://www.samaresources.com/i/pdf/Sama_Corporate_Presentation.pdf for more
details.
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.
Cautionary Note to U.S. Investors
Unless otherwise indicated, all reserve and resource estimates included in this
news release have been prepared in accordance with Canadian National Instrument
43-101 Standards of Disclosure for Mineral Projects ("NI 43-101") and the
Canadian Institute of Mining, Metallurgy and Petroleum Definition Standards for
Mineral Resources and Mineral Reserves ("CIM Definition Standards"). NI 43-101
is a rule developed by the Canadian Securities Administrators which establishes
standards for all public disclosure an issuer makes of scientific and technical
information concerning mineral projects. Canadian standards, including NI
43-101, differ significantly from the requirements of the United States
Securities and Exchange Commission ("SEC"), and reserve and resource information
contained in this news release may not be comparable to similar information
disclosed by U.S. companies. In particular, and without limiting the generality
of the foregoing, the term "resource" does not equate to the term "'reserves".
Under U.S. standards, mineralization may not be classified as a "reserve" unless
the determination has been made that the mineralization could be economically
and legally produced or extracted at the time the reserve determination is made.
The SEC's disclosure standards normally do not permit the inclusion of
information concerning "measured mineral resources", "indicated mineral
resources" or "inferred mineral resources" or other descriptions of the amount
of mineralization in mineral deposits that do not constitute "reserves" by U.S.
standards in documents filed with the SEC. U.S. investors should also understand
that "inferred mineral resources" have a great amount of uncertainty as to their
existence and great uncertainty as to their economic and legal feasibility. It
cannot be assumed that all or any part of an "inferred mineral resource" will
ever be upgraded to a higher category. Under Canadian rules, estimated "inferred
mineral resources" may not form the basis of feasibility or pre- feasibility
studies except in rare cases. Investors are cautioned not to assume that all or
any part of an "inferred mineral resource" exists or is economically or legally
mineable. Disclosure of "contained ounces, pounds, or tonnes" in a resource
statement is permitted disclosure under Canadian regulations; however, the SEC
normally only permits issuers to report mineralization that does not constitute
"reserves" by SEC standards as in-place tonnage and grade without reference to
unit measures. The requirements of NI 43- 101 for identification of "reserves"
are also not the same as those of the SEC, and reserves as and when reported by
Sama Resources Inc. in compliance with NI 43-101 may not qualify as "reserves"
under SEC standards. Accordingly, information concerning mineral deposits set
forth herein may not be comparable to information made public by companies that
report in accordance with United States standards.
Forward-Looking Statements
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.
FOR FURTHER INFORMATION PLEASE CONTACT:
Sama Resources Inc.
Dr. Marc-Antoine Audet
President and CEO
(514) 726-4158
Sama Resources Inc.
Mr. Matt Johnston
(604) 443-3835
Toll Free: 1 (877) 792-6688, Ext. 4
(604) 682-3860 (FAX)
www.samaresources.com
Sama Resources (TSXV:SME)
Gráfica de Acción Histórica
De May 2024 a Jun 2024
Sama Resources (TSXV:SME)
Gráfica de Acción Histórica
De Jun 2023 a Jun 2024
