LL45-127462 : 22.85m at 10.44% Graphite Carbon
LL45-125470 : 19.50m at 11.83% Graphite Carbon
LL47-592442 : 18.00m at 13.17% Graphite Carbon
Montreal, Québec, June 6, 2014 – (TSX Venture: SME) Sama Resources Inc./Ressources Sama Inc. (“Sama” or the “Company”) is pleased to announce high grade graphite intersects from the initial 20 scout drill holes performed at the 8.7 kilometers (“km”) long Lola Graphite deposit in Eastern Guinea, West Africa.
Assay results for the surface weathered profiles (0 to 20 metres (“m”) deep) also called “oxide layer” reached up to 22.85m at 10.44% Graphite Carbon (“Cg”), 19.50m at 11.83% Cg and 18.00m at 13.17% Cg, etc. (see Table 1).
Intersects on the deeper non-weathered graphite rich gneiss, below 20m, (“Fresh Rock”) clearly indicated that the deposit extended at depth.
A total of 20 core drill holes for 460m were drilled at the Lola Graphite deposit. Holes were scattered unevenly over a strike length of 5.2km of the entire 8.7km long deposit. Drilling was performed using a Jacro 175 core drill rig owned by Sama and capable to reach a depth of between 20m and 40m from surface.
These vertically drilled shallow holes tested the first 20m or so of the oxide layer of the deposit before reaching the non-weathered graphite rich gneiss. Most holes were terminated within the oxide layer with only few holes returning non-weathered graphite rich gneiss.
Readers are invited to click on following link to have access to Lola Graphite deposit surface map showing boreholes location and assays results: Lola Graphite Surfaces Map
The Lola Graphite deposit is characterised by an oxide surface layer ranging from 10m to 30m in thickness with an average thickness of approximately 20m and is present over the entire length. The presence of the thick oxide layer over the entire deposit has distinct advantages in terms of metallurgy and recovery. Graphite flakes are free within the surface weathered layer, as a result, the crushing requirement is reduced to a minimum while preserving the integrity of the large flakes. Furthermore, blasting is not required for this type of material, thus reducing production cost for any exploitation in this kind of environment. Graphite separation is obtained using conventional flotation methodologies.
Preliminary field investigation has outlined an 8.7 km long Achaean age graphitic gneiss oriented north-south ranging from 300m to up to 1,000m wide at surface. Graphite mineralization is well exposed at surface on this entire strike length with sample grades ranging from a trace to up to 17% of large flakes and often seen in higher concentration agglomerates.
The deposit was investigated over its entire length using the geophysical electromagnetic methodology called “Max-Min II”. Max-Min II is a geophysical technique that outlines the conductivity of the rock.
Graphite is very conductive and responds very well to Max-Min II. A map showing the location of high concentration of graphite flakes was produced confirming the observed thicknesses and continuity.
Table 1:Graphite rich intercepts for the maiden 20 shallow holes drilled at the Lola Graphite Deposit. Intercepts were defined using 1.0% Cg cut off grades.
|HOLE-ID||Facies||FROM||TO||LENGTH||Graphite Carbon (Cg)|
The Graphite Project is 100% owned by Sama Resources Guinea SARL, a fully owned subsidiary of the Company. The Graphite Project is located near the town of Lola in eastern Guinea and within 50 km from the border with Côte d’Ivoire.
Core logging and sampling was performed at Sama’s facility in the Lola village. Sample preparations for the graphite exploration program were performed at the Société de Développement de Gouessesso’s sample preparation facility in Gouessesso village in Côte d’Ivoire under Sama’s supervision. Sample pulps were delivered to Activation Laboratories Ltd., Ancaster, Ontario, Canada. The samples were treated through a multistage furnace process to remove organic carbon and carbonate carbon. The remaining graphitic carbon was measured as carbon dioxide in the infrared (“IR”) cell as gases flow through the cell. Carbon dioxide absorbs IR energy at a precise wavelength within the IR spectrum. All analysis were performed using Eltra instruments.
Additional details for the Lola Graphite project can be viewed in the Sama’s updated compilation at:www.samaresources.com/i/pdf/Sama_Corporate_Presentation.pdf
Extension of Equity Financing
Sama proposes to extend the closing date of the second tranche (the “Extension”) of its ongoing private placement offering announced on May 12, 2014. The Extension is subject to final regulatory approval.
The technical information in this release has been reviewed and approved by Dr. Marc-Antoine Audet, P.Geo and President and CEO of Sama, and a ‘qualified person’, as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects.
FOR FURTHER INFORMATION, PLEASE CONTACT:
SAMA RESOURCES INC./RESSOURCES SAMA INC.
Dr. Marc-Antoine Audet, President and CEO
Tel: (514) 726-4158
Mr. Matt Johnston
Tel: (604) 443-3835
Toll Free: 1 (877) 792-6688, Ext. 4
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements Certain of the statements made and information contained herein are “forward-looking statements” within the meaning of Canadian securities legislation or “forward-looking information” within the meaning of the Ontario Securities Act and the Securities Act (British Columbia). This includes statements concerning the Company’s plans at its mineral properties, which involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company, or industry results, to vary or be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or forward-looking information. Information regarding drilling results may also be deemed to be forward-looking statements or forward-looking information in that they reflect a prediction of what may be found to be present when and if a project is actually developed.
Forward-looking statements and forward-looking information 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 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 estimates and 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.