Sama Resources Inc. (TSX: V.SME, Stock Forum) said it has received the assay results for 13 additional holes drilled at its newly discovered Gogota deposit in West Africa.
The Lola Project in Guinea is currently in its exploration phase. The exploration licenses for the project are exclusively held by a wholly-owned subsidiary of Sama.
According to the Sama press release, highlights of the drill program included intersects 29.0 metres grading 1.95% nickel, 15.5 metres grading 2.39% nickel and 25.0 metres grading 1.44% nickel.
A total of 27 new prospective laterite plateaus have been identified at the project since the start of the regional exploration program in April 2011. The combined surface area for these 27 laterite plateaus is 7.8 square kilometres.
On Thursday, Sama’s stock was up 10% and was trading at $0.32 a share. The company has a market cap of $23.6 million, based on 73.7 million shares outstanding. The 52-week high and low was $0.51 and $0.25 respectively.