MONTREAL, Jan. 29, 2020 (GLOBE NEWSWIRE) -- Sama Resources Inc. (“Sama” or the “Company”) (TSX-V: SME | OTC-PK: SAMMF) is pleased to announce the first drill hole of the 2020 campaign (hole: SM2020-1) aiming at a shallow target defined from HPX TechCo Inc’s (“HPX”) proprietary Typhoon™ electromagnetic geophysical (“Typhoon”) survey performed at the Samapleu deposit returned 53 m grading 0.43% nickel (“Ni”), 0.30% copper (“Cu”) and 0.52 grams per tonne (“gpt”) palladium (“Pd”), including 4.6 m grading 1.98% Ni and 0.92% Cu and 2.54 gpt Pd. SM2020-1 was drilled 200 m southwest of the current mineral resources, hence extending the mineralized trend at the deposit. A second drill rig is currently set to test the 700 m deep Typhoon target at Samapleu (Fig. 2).
The mineralization encountered in hole SM2020-1 is characterized by aggregates of the nickel, copper and iron sulphides pentlandite, chalcopyrite and pyrrhotite, respectively. Pentlandite occurs together with pyrrhotite, while the chalcopyrite is either mixed with the pentlandite and pyrrhotite or occurs as late millimetric to centimetric sulphide veins/accumulations. The textures of the sulphide mineralization vary from disseminated to semi-massive and massive (> 80% of sulphide material).
The 2020 Typhoon program will resume in February and will follow the schedule as indicated in Figure 3. Detailed interpretation of the several Typhoon targets performed at the Yepleu deposit (25 kilometers southwest of Samapleu) continues as planned.
Readers are invited to view the Updated Corporate Presentation showing results from the 2019 Typhoon geophysical program.
HPX is a privately-owned, metals-focused exploration company deploying proprietary in-house geophysical technologies to rapidly evaluate buried geophysical targets. The HPX technology cluster comprises geological and geophysical systems for targeting, modelling, survey optimization, acquisition, processing and interpretation. HPX has a highly experienced board and management team led by Chief Executive Officer Robert Friedland and President Eric Finlayson, a former head of exploration at Rio Tinto. 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 Côte d’Ivoire 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.
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
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.
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 “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.