Sama Resources Inc. ("Sama" or the "Company") - (TSX.V: SME | US: LNZCF ) is a growth-oriented resource company focused on exploring the Samapleu 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 19 km 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 the Samapleu Ni-Cu+PGE deposits.
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.
The Samapleu Main Ni-Cu+PGE deposit was discovered by SODEMI in the mid-1970s as a follow-up on Ni and Cu stream sediment anomalies. A limited amount of drilling was performed by SODEMI in 1982, 1986 and 1996. The property remained dormant until Sama signed a joint venture ("JV") agreement with SODEMI in 2009. The Samapleu Extension 1 Ni-Cu+PGE deposit was discovered by Sama in June 2010 and is located 1.3 km north of the Samapleu Main deposit.
From March 2010 to November 2011, Sama has performed surface IP and Mag surveys and 198 boreholes for a total of 20,994 metres 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 to explore the newly discovered prospective ground. The Company is convinced that the highly prospective geological environment, extending into 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 0.06 km2 to 1.8 km2 for a total of 5.34 km2 of highly prospective laterite plateaus for Ni, Co and Scandium ("Sc"), including the newly discovered 1.8 km2 large Gogota laterite plateau. Drilling exploration work is due to start at the Gogota plateau in March 2012 with the Company's newly purchased manned portable drilling equipment.
The Samapleu project in Côte d'Ivoire is currently in its exploration phase. Future production will be managed by a JV controlled 66⅔% by Sama Nickel Corporation, a wholly-owned subsidiary of the Company, and 33⅓% by SODEMI. The exploration licenses in Guinea are exclusively held by a wholly-owned branch office of Sama.
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May 17, 2012:
SAMA RESOURCES ANNOUNCES PRIVATE PLACEMENT...(more)
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May 01, 2012:
Sama Resources Initiates NI 43 101 Technical Report on its Samapleu Nickel Copper Project in Côte d'Ivoire...(more)
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April 24, 2012:
Sama Resources Initiates 13,500 Line/km Airborne Magnetometer and Radiometric Survey Over its Samapleu Project (Côte d'Ivoire) and Part of its Lola Project (Guinea)...(more)
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