Sama Resources Inc is a growth-oriented resource company focused
on exploring the Samapleau Nickel ("Ni") - Copper ("Cu") project in Ivory Coast, West Africa.
The company is well financed and managed by experienced industry professionals with a strong
track record of discovery. Sama, together with its partner La Société de Développement des
Mines de Côte d'Ivoire ("SODEMI") is committed to develop and exploit the Samapleu Ni-Cu
and Platinum Group of Elements ("PGE") Resources as well as evaluating the newly discovered
Massive Chromite occurrences found along a 19km northeast-southwest oriented ridge (Gangbapleu-Bounta Ridge).
These Massive Chromite occurrences, in addition to having significant potential by themselves as possible candidates
for direct shipping economic material, are indicative of a highly favorable geological environment for additional
Samapleu Ni-Cu style mineralization. Field evidences collected so far suggest a stratiform origin for these
Massive Chromites which belong to the magmatic Chromium ("Cr")-Ni-Cu-PGE deposit type associated
with layered mafic to ultramafic intrusions.
The Samapleu project also hosts a significant amount of Ni-Cobalt ("Co") rich laterite material,
known as the Sipilou South laterite deposit, located 5 km northwest of Samapleu Ni-Cu+PGE deposits.
From March 2010 to November 2011, Sama has performed surface IP and Mag surveys and 198 boreholes
for a total of 20,994 meters of drilling. It is the intention of the company to initiate the
Preliminary Economic Study on the viability of a small scale Ni-Cu open cast mining and processing, while
continuing exploring the newly discovered prospective ground. The Company is convinced that the highly
prospective geological environment, extending in Guinea, has the potential to become a new World Class Base Metal district.
The exploration program performed this year in Guinea has identified 14 new laterite plateaus ranging from
0.06km2 to 1.8km2 for a total of 5.34km2 of highly prospective laterite plateaus for Ni, Co and Scandium ("Sc"),
including the newly discovered 1.8km2 large Gogota laterite plateau. Drilling exploration work is due to start
at the Gogota plateau in March 2012 with the Company's newly purchased man portable drilling equipments.
Sama Resources Inc. has released assay results for mineralized intersections of 11 holes drilled in October and November of 2011 at its Samapleu project in Cote d'Ivoire.
Highlights: -- Hole SM25-009620 returned 69.50 m at 1.10% Ni+Cu -- Hole SM44-494350a returned 26.95 m at 1.12% Ni+Cu -- Hole SM44-494350b returned 39.60 m at 1.21% Ni+Cu -- Hole SM24-771588 returned 11.45 m at 1.12% Ni+Cu -- Ni+Cu mineralized material: additional upgrading metallurgical tests ongoing at SGS and MineSense.
Assay results for 11 holes drilled at the "Samapleu Extension 1 poly-metallic zone" and the "Samapleu Main poly-metallic deposit" have been received. The Samapleu Extension 1 poly-metallic zone is located
1.3 kilometres ("km") north of the Samapleu Main poly-metallic deposit.
Drill hole SM25-009620 returned 69.50 metres ("m") combined highly disseminated and massive sulphides grading 1.10% nickel ("Ni")+copper
("Cu") and 1.06 grams per tonne ("gpt") palladium ("Pd")+platinum ("Pt"), including 2.1 m of massive sulphides grading 2.29% nickel, 0.50% copper, 0.13% cobalt ("Co") and 2.19 gpt palladium. The mineralized intersection starts at 33.75 m from surface, immediately below the overburden. Borehole SM25-009620 was drilled at the northeast end of the mineralized strike of the Samapleu Extension 1 poly-metallic zone, meaning that the mineralized zone is open toward the northeast, as well as depth.
Borehole SM24-627794, located at the southwest end of the Samapleu Extension 1 poly-metallic zone, returned 1.95 m of massive sulphides grading 2.29% nickel and 0.36% copper, indicating that the mineralized zone is also open toward the southwest.
Assay results for 3 more holes are still pending. Table 1 below shows combined mineral intercepts for these new holes.
Flotation test work performed earlier in 2011 by Societe Generale de Surveillance, Lakefield, Ontario ("SGS"), demonstrated that from a mineralized blend grading of 0.53% nickel and 0.52% copper, a bulk
nickel+copper concentrate analyzing 18.5% is produced. Based on these
excellent results, SGS was commissioned to perform upgrading metallurgical tests. The initial upgrading tests indicated that lower grades of Samapleu mineralized material will produce a higher grade of material as fed to flotation.
Upgrading Tests - 0.35% Nickel Material
Heavy media separation tests showed that in treating material at 0.35% nickel and 0.33% copper, the resultant material grades are 0.66% Nickel and 0.53% Cu, while rejecting 55% of the feed material mass prior to the flotation circuit.
Further tests are currently ongoing with a bulk sample of 44 kilograms using a 0.30% Nickel calculated head grade. Additional upgrading tests are planned using electromagnetic sensor sorting methodology at MineSense's laboratory in Vancouver, BC.
The Company's discovered 19-km long Gangbapleu-Bounta ridge contain several outcropping mafic and ultramafic bodies, as well as newly discovered Massive Chromite occurrences named Bounta North and Bounta South (see News Release dated January 14, 2012). These Massive Chromite occurrences, in addition to having significant potential by themselves as possible candidates for direct shipping economic material, are indicative of a highly favourable geological environment for additional Samapleu Ni-Cu style mineralization.
The Company is actively pursuing surface exploration along the 19 km long ridge and is seeking to perform an approximately 12,000 line/km airborne magnetometre survey over the entire Samapleu property in Cote d'Ivoire and a large part of Sama's Lola Project in Guinea, which is adjacent to Samapleu.
The reader is invited to review Sama's updated compilation of details regarding showings, deposits and locations on its website at http://www.samaresources.com/i/pdf/Sama_Corporate_Presentation.pdf.
Drilling was performed by Global Exploration Services SARL of Abidjan, Cote d'Ivoire. Core logging and sampling was performed at Sama's facility in Yorodougou village. Sample preparations for the nickel-copper sulphide exploration program were performed at Societe de Developpement de Gouessesso's sample preparation facility in Gouessesso village under Sama's supervision. Sample pulps were delivered to Bureau Veritas Mineral Laboratory's facility in Abidjan ("BVML") and then dispatched by BVML directly to their assay laboratory, Ultra Trace Pty, in Perth, Australia. All samples are assayed for nickel, copper, cobalt, iron, sulphur, platinum, palladium, rhodium and gold ("Au") using sodium peroxide fusion and determined by inductively coupled plasma optical emission spectrometry.
The Samapleu Nickel-Copper Sulphide Project in Cote d'Ivoire is currently in its exploration phase. Future production will be managed by a joint venture controlled 66 2/3% by Sama Nickel Corporation, a wholly-owned subsidiary of the Company, and 33 1/3% by Societe pour le Developpement Minier de Cote d'Ivoire.