Sama Resources (SME.V) has announced it has discovered a new zone with nickel and copper mineralization at surface just nine kilometers from the Samapleu project. This sector was identified during an airborne survey last year and now a hand-held XRF analyzer has sampled rocks with grades ‘up to 2.11% nickel and 1.89% copper’. Before getting too excited about this news, the key words are ‘up to’, and even though this is a very encouraging discovery, one should remain cautious until more data will be made available.
As this new zone is quite close to the Samapleu project where the company recently intersected almost 149 meters of 0.3% nickel, 0.29% copper, 0.1g/t platinum and 0.42g/t palladium. A rough calculation learns us this is approximately 0.50% NiEq which might be too low considering the intercept started at a depth of 347 meters. Fortunately there are some higher-grade zones as well, and the 2/3rds owned Samapleu project is a nickel-copper project we’ll keep our eyes on in the near future.
> Click here to read the press release
Disclosure: The author holds no position in Sama Resources. Please see our disclaimer for current positions.
