Sama Resources Inc. (TSX-V: SME | OTC-PK: SAMMF) announced results from its exploration drilling at its Nickel, Copper, Palladium projects in Ivory Coast, West Africa. Over the last five months, the Company completed 4,064 meters (‘m’) at three specific sites over a strike length of 25 kilometers (“km”); Samapleu, Bounta and Yepleu. The drilling results at the Bounta zone confirmed the presence of mineralisation at depth and warrant additional investigations. This new discovery confirms Bounta as the third mineralised prospect out of more than 20 potential zones within Sama’s tenement as outlined by the 2013 airborne electromagnetic survey (ref: http://samaresources.com/i/pdf/Sama_Corporate_Presentation.pdf ).
At the Bounta zone, located 15 km south of the Samapleu deposit, one borehole was drilled aiming at a strong 11,000 Conductivity-Thickness (“CT”) electromagnetic (“EM”) target located 600 m from surface. The hole returned disseminated to semi-massive sulphide between 533 m to 540 m from surface, with a small section of semi-massive sulphides (photo 1). Additional geophysical work and more drilling are needed now to explain the source for the strong EM target.
At the Samapleu project, surface drilling returned excellent results in January (PR January 30, 2020) which expanded the surface mineralisation at the Extension 1 mineralised body by 200 m toward the SW. Subsequently, 7 boreholes were surveyed using geophysical downhole probe. A strong EM target of 15,000 CT located 550 m from surface has been outlined. This target remains to be drilled.
At the Yepleu prospect, located 25 km south-west of Samapleu, a total of three holes were completed between April and June 15, 2020. Hole YE47-716197 tested a 3,000 CT EM anomaly located 350 m from surface while hole YE47-361408 tested a 5,000 CT EM anomaly located 450 m from surface. Both holes intersected the target zones and returned 6.0 m and 15.0 m of mineralisation respectively ranging from disseminated to semi-massive sulphide mineralisation. A third hole, YE45-348726, was drilled down to 924 m to test a 15,000 CT target at 850 m from surface. The hole remained within the intrusive complex with numerous sections of magmatic migmatite showing disseminated sulphide mineralisation. As the hole did not explain the source of the very strong EM anomaly, the irregular shape of the target might be the cause. It is proposed to perform downhole EM probing to further investigate the exact location of the 15,000 CT target.
Several sample batches will be delivered to the assay laboratory in Canada when post-COVID 19 shipping becomes available.
Due to the impact of the COVID 19 pandemic and the requirement for cash conservation measures to be implemented, it will be necessary to temporarily suspend exploration activities at the project in Côte d’Ivoire by mid-June 2020. High Power Exploration (“HPX”) is the entity responsible for funding the Ivory Coast project during the initial earn-in period as defined in the Joint Venture and Earn-In Agreement entered into between Sama and HPX. The Company will advise when activities on the ground are to resume.
Sama’s financial situation remains strong with a treasury of more than CAD$2.5M, 24M shares of SRG Mining Inc. and the agreed HPX project spend.
For the complete news release please visit Sama’s website.