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Highlights:
Hole GR-29intersected a total of 140 metres of mineralisation including 50.55 metres grading 0.45% nickel, 0.37% copper and 0.42gpt palladium; including 2.55 metres grading 2.60% nickel, 1.53% copper and 2.22gpt palladium
Hole GR-31 intersected 172 metres of mineralisation including 72.60 metres grading 0.36% nickel and 0.34% copper.
“We are very pleased with today’s results, which will contribute meaningfully to our next resource estimate for the combined Samapleu-Grata prospects. Our drill program continues to have great success, extending the mineralisation continuity and thickness toward the north-east of the Grata prospect.” stated Dr.
Sama’s Ivorian project is comprised of five exploration permits for 850 square kilometers. More than twenty targets were outlined from geophysical surveys, out of which only three zones have been explored (Figure 1).
Assays results for four holes (GR-29, GR-31, GR-32 and GR-35) are presented inTable 1. All measurements are core lengths and may not represent true geological widths.Figure 2provides the location of the four holes.
Grata: Latest discovery in the Yacouba Ultramafic-Mafic (“UM”)
In
The discovery hole, GR-03, drilled in
This release discloses results for holes GR-32 and GR-35(Figure 3)which intersected 138 m and 132 m of combined mineralised zones respectively. Hole GR-35 included 12.40 m grading 0.39% Ni, 0.53% Cu and 0.44gpt Pd and 78.50 m grading 0.27% Ni, 0.42% Cu and 0.25gpt Pd. These two holes confirm the extension of mineralisation toward the north-east.
Figure 4shows a cross-section with holes GR-29 and GR-31, in which hole GR-29 intersecting a total of 140 m of mineralisation including 50.55 m grading 0.45% Ni, 0.37% Cu and 0.42gpt Pd including an interval of 2.55 m grading 2.60% Ni, 1.53% Cu and 2.22gpt Pd. Hole GR-31 drilled 50 m south-east of GR-29 returned 172 m of combined mineralised zones including 72.60 m grading 0.36% Ni and 0.34% Cu. Assay results for GR-27 and GR-33 are pending.
The mineralisation at Grata is similar in composition to the Samapleu deposit (“Samapleu”) but shows a higher proportion of chalcopyrite. Metallurgical studies are ongoing using Grata and Samapleu material.
Sama’s goal is to increase mineral resources at Samapleu and Grata as well as to search for massive sulphide veins and lenses that could have accumulated at depth in traps and embayments along the feeder system of the
Table 1:Results for GR-29, GR-31, GR-32 and GR-35, using a cut-of-grade of 0.1% nickel.
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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). Conductivity from airborne surveys (2013 & 2018) is shown in the background.
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Figure 2: The Grata prospect is located five kilometres east of the Samapleu deposits. Current and historic drilling are presented together with the four holes reported in the press release.
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Figure 3: Grata Prospect, vertical section NW-SEshowing holes GR-32 and GR-35.
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Figure 4: Grata Prospect, vertical section NW-SE showing holes GR-29 and GR-31.
QA/QC
Core logging and sampling was performed at Sama’s Samapleu and Yepleu field facilities. Sample preparation was conducted at the
The technical information in this release has been reviewed and approved by Dr.
Stock Options
The Company is pleased to announce, subject to regulatory acceptance, that the Company hasgranted an aggregate total of 2,055,000 incentive stock options to certain officers, employees and consultants, subject tocertain vesting provisions. These options will be exercisable at a priceof
ABOUT
Sama is a Canadian-based, growth-oriented resource company focused on exploring the Samapleu nickel-copper-palladium project in
Sama’s projects are located approximately 600 km northwest of
Sama owns a 70% interest in the
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
FOR FURTHER INFORMATION, PLEASE CONTACT:
Dr.
Tel: (514) 726-4158
OR
Mr.
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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 estimatesand 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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