Initial Assay Results from the 2026 Exploration Program Demonstrate New Areas of Polymetallic Mineralization at the Samapleu Nickel-Copper Project
Sama reports a low-grade polymetallic hit 13 km from the PEA area, extending the system but remaining sub-economic.
Sama Resources Inc. (SME) and joint venture partner Ivanhoe Electric have released initial assay results from the 2026 regional exploration program at the Samapleu Ni-Cu Project in Côte d’Ivoire. Drilling at the Zoupleu prospect, specifically hole ZP-01, intersected 23.2 meters of combined mineralized material. This interval includes a 6.3-meter segment grading 0.13% nickel, 0.13% copper, 0.01% cobalt, and 0.05 g/t platinum, starting from a depth of 116.8 meters.
The drilling campaign has confirmed the presence of mineralized ultramafic host rock at three previously untested targets: Glanle, Yorodougou, and Zoupleu. Approximately 2,000 meters of drilling have been completed to date, with assay results from four additional holes still pending.
Looking ahead, the company announced plans for 3,000 meters of additional resource delineation and expansion drilling at the Yepleu and Samapleu SW Extension areas. This work is intended to support a project-wide global resource estimate. Additionally, Sama Resources reported the sale of its remaining stake in Falcon for CAD 9.87 million, a transaction that bolsters the company’s balance sheet.
Sama Resources Inc. (SME) operates as an explorer with no revenue, relying on equity dilution for funding. Its current cash position of CAD 10.1 million, following the Falcon sale, provides a runway that keeps near-term financing risk low. The company’s market capitalization is approximately CAD 17.6 million, largely underpinned by its cash balance and 40% interest in the project rather than the speculative value of Zoupleu.
The recent drill result does not alter the resource inventory or the PEA base case. The stock price had been oscillating between CAD 0.06 and 0.08 since early 2025. The release of a low-grade hit, even within a positive district-scale narrative, is unlikely to move the stock materially. The market already anticipates district potential, evidenced by news in February 2026 regarding a 20-target program. This result delivers the bare minimum—confirmation of ultramafic host rock—rather than high-grade mineralization.
Sama Resources Inc. (SME) is a Canadian junior explorer holding a 40% carried interest in the Samapleu-Grata Ni-Cu-PGE project in Côte d’Ivoire. The project is operated via SNC, which holds a 60% stake, while Ivanhoe Electric owns the remaining 22.7% of Sama.
According to the 2024 Preliminary Economic Assessment (PEA), the project features 86.5 million tonnes of mill feed grading 0.25% nickel, 0.24% copper, and plans a 16-year open-pit operation with a post-tax NPV8 of US$257 million. The project includes other prospective zones, including Yepleu, Mossikro, and now Zoupleu, which could expand the resource, though all remain at the exploration stage.
The company has no debt and holds cash of CAD 10.1 million as of March 31, 2026, following the sale of its Falcon stake. It also maintains a working capital of CAD 10.2 million, which is sufficient for planned 2026 spending.