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Sama Resources Announces the Grant of the New Samapleu Exploration Permits together with the Highly Prospective Zoupleu License
MONTREAL, Aug. 08, 2019 (GLOBE NEWSWIRE) -- Sama Resources Inc. (“Sama” or the “Company”) (TSX-V: SME | OTC.PK: SAMMF) is pleased to announce that the former Sa
About this update from Sama Resources Inc.
[{"type":"text","content":" MONTREAL, Aug. 08, 2019 (GLOBE NEWSWIRE) -- Sama Resources Inc. (“Sama” or the “Company”) (TSX-V: SME | OTC.PK: SAMMF) is pleased to announce that the former Samapleu exploration permit (Permit de Recherche (“PR”) which expired in June 2018 has been replaced by two new PRs called Samapleu East (PR 839) and Samapleu West (PR 840). Both PRs cover approximately 318 square kilometers (“km2”) Sama has also obtained a new PR called “Zoupleu” contiguous to the aforementioned Samapleu PR’s to expand its exploration activities for base metals with an additional 135 km2. The Zoupleu permit was acquired through the 100% Sama owned subsidiary Société Minière du Tonkpi (“SMT”). These three newly acquired PRs are valid for a first period of 4 years with possible renewal periods totalling up to 12 years. Two other PR applications remain in progress with the Department of Mines in Côte d’Ivoire. These new PRs bring the total land package to 832 km2 in the Republic of Côte d’Ivoire, West Africa (Figure 1). Sama Land Package: Samapleu Permits: On January 15, 2009, Sama entered into a Syndicate Agreement (“SA”) with SODEMI, a parastatal organization, whereby Sama will explore for base Metals within the former Samapleu Permit No. 123 encompassing approximately 446 km2 and held by SODEMI. The same SA will apply to the two new Samapleu East and Samapleu West permits. The Zoupleu Permit is 100% owned by Société manière du Tonkpi SARL, a fully owned subsidiary of the Company. The Zoupleu Permit is located adjacent to the both new Samapleu permit (Figure 1). Sama believes that ultramafic sequences of the recently outlined large Yacouba Layered Complex which hosts the Yepleu and Samapleu Nickel-Copper-Palladium deposits and occurrences, are extending within the Zoupleu Permit and as such represent a prime target for nickel-copper-palladium mineralization. In May and June 2019, the Company proceeded with Typhoon™ electromagnetic (“EM”) geophysical surveys at the Yepleu area, within the Zérégouiné permit (Figure 1). The heavy rain season together with frequent thunder storms has considerably impacted progress. Despite these unavoidable delays, the Phase 2 Typhoon program will continue during the fall of 2019 covering areas at Yepleu, Grata and Samapleu. Sama has also entered into a Convertible Debt Agreement (“Debt Agreement”) with...