Sama Reports on Five Drill Holes with High-Grade Intercepts from the Samapleu Deposit, Located in the Ivory Coast, West Africa

2022-11-08 / @thenewswire

(TheNewswire)

Highlights:

Hole S-325 intersected a total of 241 metres of mineralisation including 11.90 metres grading 0.50% nickel, 1.50% copper. Individual samples are grading 13.30% copper, 4.89% copper, 2.18% copper and 2.25% nickel.

Hole S-321 intersected 57 metres of mineralisation grading 0.25% nickel including 3.05 metres at 1.12% nickel, 0.69% copper and 1.43 gpt palladium

Montréal, Quebec – TheNewswire - November 8, 2022 – Sama Resources Inc. (“Sama” or the “Company”) (TSXV:SME) (OTC:SAMMF) is pleased to announce assay results from five additional drill holes from the 2021-22 drilling campaign at the Samapleu deposit. Sama has drilled a total of 85 drill holes totalling 26,787 metres (“m”) at the Ivory Coast project in 2021-22 including 45 drill holes totalling 14,893 m at the Grata prospect and 21 holes for 5,643 m at the Samapleu deposit. The assay results for holes S-321 to S-325 at Samapleu are summarized in this release (Table 1). Assays results for eleven holes drilled at the Samapleu deposit are pending.

“These high-grade copper-nickel intercepts are indicatives of the potential for additional high-grade zones at depth and along strike at the Samapleu Extension 1 zone.” stated Dr. Marc-Antoine Audet, President & CEO of Sama Resources Inc.

Dr Audet added “The Samapleu deposits together with the newly discovered Grata prospect are continuing to deliver thick mineralised intercepts related to two distinct feeder zones of the large 50 km x 20 km wide Yacouba complex. There are more than 20 similar zones showing strong conductivity that are still to be drill tested. Additionally, the primary focus of the 2022 drilling campaign was to dramatically increase the size of the existing resource with the Grata deposit and expanding the resources at Samapleu Extension 1 (both importantly in the form of open pits)”

Table 1: Summary of 2021-22 drilling program at Grata. Results for S-321 to S-325, using a cut-of-grade of 0.1% nickel.

Sequence	Hole Length	From	Length	Ni	Cu	Co	Pd	Pt	Au
	m	m	m	%	%	%	gpt	gpt	gpt
S-321	102.00	14.80	56.95	0.25	0.21	0.01	0.31	0.07	0.03
		includes	0.15	1.74	1.73	0.08	2.25	0.02	0.08
		includes	0.15	0.52	0.44	0.03	0.77	0.25	0.02
		includes	0.10	0.50	3.03	0.02	1.10	0.03	0.10
		includes	0.35	0.96	0.15	0.04	1.04	0.06	0.01
		includes	0.45	0.99	0.65	0.05	1.74	0.34	0.03
		includes	0.40	0.71	8.46	0.03	2.26	0.08	0.28
		includes	3.05	1.12	0.69	0.06	1.43	0.26	0.03
		includes	1.30	0.83	0.27	0.04	1.09	0.08	0.01
		73.65	3.55	0.10	0.06	0.01	0.12	0.11	0.05
		84.90	3.60	0.11	0.09	0.01	0.10	0.10	0.03
		93.80	2.55	0.11	0.12	0.01	0.06	0.02	0.04

S-322	95.00	35.65	19.05	0.18	0.09	0.01	0.28	0.12	0.02
		57.35	16.75	0.13	0.03	0.01	0.02	0.01	0.01

S-323	80.00	23.20	66.45	0.13	0.10	0.01	0.25	0.09	0.02

S-324	184.00	106.00	56.15	0.23	0.17	0.01	0.37	0.08	0.02
		includes	0.65	0.53	0.47	0.03	0.81	0.06	0.01
		includes	0.45	1.33	0.69	0.06	2.32	0.02	0.09
		includes	0.35	0.74	7.82	0.04	2.36	0.09	0.20
		includes	0.15	1.89	2.35	0.08	2.95	0.03	0.02

S-325	328	0.00	157.55	0.19	0.13	0.01	0.16	0.07	0.03
		221.40	11.90	0.50	1.50	0.02	1.04	0.55	0.03
		includes	5.20	0.87	3.07	0.04	1.93	1.06	0.04
		241.80	71.70	0.19	0.09	0.01	0.23	0.06	0.02

Samapleu Main and Extension 1:

A total of 21 holes were drilled at the Samapleu Main and Extension 1 zones during the 2021-22 campaign. These holes were drilled for infill purposes as well as for collecting metallurgical material for testing using combined Samapleu and Grata mineralised materials.

Hole S-325 was testing the geological continuity of the Samapleu mineralised intrusive at the southwestern end of the Samapleu Extension 1 zone (Figure 2) where it intersected 241 m of mineralised material including 11.90m at 0.50% nickel (“Ni”), 1.50% copper (“Cu”) and 1.04 gramme per tonne (“gpt”) palladium (“Pd”). Individual samples within the 11.90 m intersect are grading 13.30% Cu, 4.89% Cu, 2.18% Cu and 2.25% Ni. Analysis for elements of the platinum group is pending.

Holes S-321 to S-323 were drilled as infill holes as well as to collect representative mineralised material for the ongoing metallurgical investigation of the combined Samapleu-Grata material.

Hole S-321 intersected a combined 66.65 m grading 0.23% Ni including 3.05m at 1.12% Ni, 0.69% Cu and 1.43 gpt Pd.

Hole S-324 tested the northeastern end of the Samapleu Extension 1 deposit returning 56.15 m grading 0.23% Ni including several stringers of massive sulphides showing individual samples grading 7.82% Cu, 2.35% Cu, 1.89% Ni and 1.33% Ni.

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Figure 1: Samapleu project showing the Samapleu deposits and the Grata occurrence (blue circles) together with target areas for detailed exploration (red circles). Red dots are drill holes. Conductivity from airborne surveys are shown in background.

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Figure 2: Newly discovered zone at Grata is located 5 km east of Samapleu deposits. Current and historic drilling.are presented together with the 5 holes reported in the press release.

QA/QC

Core 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, Ivory Coast. 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.

ABOUT SAMA RESOURCES INC.

Sama is a Canadian-based, growth-oriented resource company focused on exploring the Samapleu Nickel– Copper project in Ivory Coast, West Africa. The Company is managed by experienced industry professionals with a strong track record of discovery. Sama, is committed to develop and exploit the Samapleu Ni-Cu and Platinum Group of Elements Resources.

Sama’s projects are located approximately 600 km northwest of Abidjan in Côte d’Ivoire and straddle both sides of the Ivorian and Guinean borders in West Africa. Sama’s projects are located adjacent to the large world-class nickel-cobalt laterite deposits of Sipilou and Foungouesso forming a 125 km long new Base Metal Camp in West Africa.

Sama owns 70% interest in the Ivory Coast project with its joint venture partner Ivanhoe Electric owning 30%. Ivanhoe Electric has the option to purchase up to a 60% interest in the project. For more information about Sama, please visit Sama’s website at www.samaresources.com.

ABOUT IVANHOE ELECTRIC INC.

Ivanhoe Electric (NYSE American: IE, TSX: IE), is an American technology and mineral exploration company that is re-inventing mining for the electrification of everything by combining advanced mineral exploration technologies, renewable energy storage solutions and electric metals projects predominantly located in the United States.

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

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.

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