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( SAMA RES
A decade after discovering a new base metals compl
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(SOURCES
lex in Côte d’Ivoire, Sama continues exploring
Consulting geologist Marc-Antoine Audet first arrived in Côte d’Ivoire in 1994 as part of a nickel laterite exploration team for former Canadian natural resources firm Falconbridge. He was to spend four years in the country, serving as senior project geologist and director of operations for Falconbridge, during which time he became aware of significant base metals mineralisation in the Achaean craton just West of the Ivorian segment of the Birimian Greenstone Belt – which is predominantly understood as the prolific gold system underpinning West Africa’s mineral wealth. After continuing his exploration career with Falconbridge and its subsequent acquirer Xstrata, Audet returned to Côte d’Ivoire in 2009 and formed Sama Resources to focus on the nickel-copper sulphide opportunities he identified in the 1990s.
The company’s Samapleu
The surface Samapleu nickel-
Nickel-Copper project is
copper-PGE mineralisation
located approximately 600 km
is composed mainly of
Northwest of Côte d’Ivoire’s
disseminated sulphide
economic capital Abidjan,
mineralisation within a
adjacent to the Ivorian-Guinean
well preserved pyroxenite.
border and immediately South
Numerous high-grade nickel,
to the world class nickel-cobalt
copper and PGE veins and
laterite deposits of Sipilou and
stringers are cross-cutting the
Foungouesso.
mineralised pyroxenite.
The mineralisation at Samapleu
“All the metallurgical tests that
is typical of a layered pipe-like
we have done so far, especially
intrusion or conduit‐hosted
with SGS in Canada and with
nickel deposits, similar to
CVMR, have shown that the
intrusions that host some of the
recovery of the ore is very
world’s largest nickel‐copper
good. If we wanted to produce a
In a tumultuous first decade, the fledgling company encountered myriad external challenges including civil wars in Côte d’Ivoire, the Ebola crisis of 2013-16 and a severe slowdown in the resources sector which slashed funding available to junior explorers. However, Sama not only survived these existential threats, but succeeded in discovering a new geological intrusion called the Yacouba Complex, which shows potential for hosting high-grade nickel-copper-cobalt and palladium mineralisation in pods that are yet to be discovered. TSXV-listed Sama has been chasing these massive sulphide reservoirs over the last 10 years, undertaking a series of geophysical and exploration drilling campaigns to enhance its understanding of the host mineralisation at depth.
sources such as the Norilsk
concentrate, we can produce a
deposits in Russia and the
10-11% nickel concentrate and
Voisey’s Bay Mine in Canada.
20% copper concentrate, but we want to go further than that.”
“The ore at Samapleu is president and CEO of Sama.
Publishing the PEA
“Even though it was formed
In typical fashion, Sama
two billion years ago, the
triumphed in the face of
ore has not suffered any
adversity in publishing
alteration, metamorphism or
a preliminary economic
other deterrent activities that
assessment (PEA) for the
sometimes you see in other
Samapleu project in May, while
deposits around the world.”
the world (and Côte d’Ivoire)
very beautiful,” says Audet,
was in the grip of a global pandemic.
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MA AUDET AND PROFESSOR PICARD FROM UNIVERSITY OF FRANCHE-COMTÉ
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The main purpose of the PEA,
“We saw the opportunities
which was prepared by DRA
available with the technology
Global in Canada through DRA
a couple years ago and worked
Met-Chem, was to underline
hard with CVMR to adapt the
the value of the project by
process to the ore that we have
advertising the company’s
at Samapleu,” Audet explains.
ability to produce nickel and iron powders ready for direct
The PEA indicated that
use in various industrial
Samapleu will have an annual
applications.
production rate of 3,900 tonnes of carbonyl nickel powder,
“The idea was to use a well-
8,400 tonnes of carbonyl iron
known technology that
powder and 14,100 tonnes of
was jointly enhanced by
copper concentrate over a 20-
Falconbridge and CVMR in
year mine life.
the early 2000s to produce an iron and nickel nano-powder.
In addition, the study
Thereafter, Toronto-based
estimated a pre-tax NPV of
CVMR further developed on their own the technology. “Using this technology, we can
SAMA RESOURCES AT A G L A N C E
produce a final product which would be sold at 100% value from the project site. This is exciting because instead of producing an intermediate concentrate that we would
STOCK TICKER
have to sell to smelters around
TSXV:SME, OTC.PK:SAMMF
the world, at let’s say 70% of
MARKET CAPITALISATION
the LME value, now we will produce something that will be sold directly to market.
US$29 million (as of June 11, 2020)
j
“Typhoon™ is an extremely powerful tool that has allowed us to identify several good zones for follow up drilling, which we are doing now” Marc-Antoine Audet, Sama Resources director and CEO
US$616 million and an IRR
and stringers the company has
of 32.5% against an initial
identified at surface.
capex of $282 million and operational costs of $23.96
Throughout the campaign,
per tonne milled, underlining
Sama has utilised an
the economic viability of the
exploration system called
project.
Typhoon™, having partnered
Turning on Typhoon™
with its proprietor HPX TechCo in October 2017. HPX provides solutions to base
Sama’s 2020 exploration
metals explorers and is owned
drilling campaign aims to
by Ivanhoe Mines founder
seek out the massive sulphide
and mining magnate Robert
reservoirs at depth that host
Friedland. Its Typhoon™
the high-grade nickel-copper-
system is an IP and EM tool
PGE massive sulphide veins
providing depth penetration
MINING | SAMA RESOURCES
Marc-Antoine Audet, Sama Resources director and CEO up to five times deeper than
to conduct 6,000 metres of
Samapleu, which is where we
other equipment.
drilling across three targets by
found mineral resources near
the end of the first half of the
surface.
“This extremely powerful
year, using HPX’s Typhoon™
tool has allowed us to
technology. However, the
“We have a very strong EM
identify several good zones
pandemic has necessitated
target 750 metres below the
for follow up drilling, which
a reduced workforce in
Samapleu current resources
we are doing now,” says
line with social distancing
that still needs to be drilled.
Audet. “We are exploring
measures, which has resulted
We are also currently drilling
almost 50 km of strike length
in a slowdown in exploration
the targets that we defined
along the complex and
activity.
at a newly discovered area
every time we drill targets
called Yepleu, 25 km Southwest
defined by Typhoon™, we hit
Nonetheless, at the time of
of the original discovery at
mineralisation.”
writing Sama had completed
Samapleu. At Yepleu we are
around 4,000 metres of drilling
drilling a hole targeting a
Prior to the outbreak of
and was closing in on its H1
very strong EM target at +850
COVID-19, Sama planned
target. “We have drilled below
metres from surface and it is
Commenting on
Samapleu project and so
ongoing.”
Sama’s corporate social
when he returned with Sama
responsibilities in the
in the 2000s, he was able to
region, Audet highlights
call on the same individuals
the importance of local
from his Falconbridge days,
Despite owning its own drill
employment in Côte d’Ivoire,
in particular exploration
rigs, which allows Sama to
where one employee can
manager Bakayoko Bouake,
be flexible and efficient with
support about 20 people on
who is Sama’s representative in
its exploration campaigns,
average. “With this in mind,
Côte d’Ivoire.
the company is proud to
we are really careful with
support the Ivorian economy
regards to giving opportunities
“We’ve been working together
and businesses through local
to local people.”
for at least 20 years now,
Investing in Côte d’Ivoire
procurement of goods and services for the camp.
so there are very strong Back in the 90s, Audet was
bonds between us and the
based just North of the
local community. It’s a big
family and we don’t have any
the geology, the environment,
recognition of the company’s
expatriates. Everything is run
the social side and more.
local work by the Ivorian head
by Ivorians – the accountants,
of state. “It’s important that we have
“We want to continue doing exploration with the aim of locating these accumulations of high-grade nickelcopper sulphides at depth”
a strong presence in Abidjan
In October 2019, Sama
but also on the exploration
received the highest
site, which allows us to be
distinction award from
efficient and close to the
Prime Minister Amadou Gon
people.”
Coulibaly for the quality of its work supporting the
As alluded to by Audet, Sama
local community around
has elicited support from
the Samapleu project.
the Ivorian government
Audet says it was a pleasant
through its conduct over
surprise to receive this
the last decade, and this is
high level government
exemplified by the recent
MINING | SAMA RESOURCES
acknowledgement, and reveals
and power supply.
that two more ministers have
“This is where we are and that is one of the goals, to
since visited the site to witness
“We also want to continue
find these accumulations.
first-hand Sama’s exploration
doing exploration with
We believe it is there, the
progress.
the aim of locating these
geology of the system supports
accumulations of high-grade
this and we will continue to
nickel-copper sulphides
chase those massive sulphide
at depth. What we have
reservoirs,” Audet concludes.
Searching for the source Over the next 12 months,
discovered at surface is only
Sama aims to continue fine
a small shoot of massive
tuning its studies for open
sulphides. But we believe they
pit production at Samapleu
have to originate from a source
and plan for additional
at depth because they are cross
metallurgical studies while
cutting surface mineralisation
holding discussions with the
very sharply.
government relating to off-site infrastructure, including roads
Published by Anderson Murray Media Ltd
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