Montreal, Quebec, October 18, 2018 – Sama Resources Inc. (TSXV: SME) (“SME” or the “Company”) today reports that SRG Graphite Inc. (“SRG”) reported on assay results for 162 new boreholes since announcing mineral resources last June, bringing the total to 557 boreholes over 18,037 metres (“m”) drilled at its Lola Graphite deposit in Guinea, West Africa. In addition to the planned 2018 exploration program, which is now completed, SRG’s management has decided to extend the drill program to take advantage of the cost-beneficial drill rig SRG has on site. The third phase of the drill program is ongoing with 60 additional boreholes over 3,000 m completed so far.
Drill Results Highlights:
- Hole LL36-262441: 50 m at 8.92% Cg including 48.00 m at 10.07% Cg
- Hole LL39-139708: 05 m at 8.67% Cg including 23.05 m 13.12% Cg
- Hole LL42-112057: 10 m at 8.62% Cg including 21.40 m at 17.61% Cg
- Hole LL48-177588: 85 m at 11.38% Cg including 12.85 m at 12.94% Cg
The current drill-hole results cover approximately 60% of the deposit’s surface footprint (see Figure 1). To date, only the weathered portion of the deposit has been drilled, representing the first 30 meters from the surface on average. The additional drilling program includes 10 boreholes designed for testing graphitic carbon (“Cg”) at depths within the non-weathered rock assemblage below the graphite-rich surface saprolite.
These drill results should help further understand the reach and depth of the deposit and, provide additional basis for the mineral resource update to be included in the feasibility study expected for H1 2019.
The following link (http://srggraphite.com/pdf/20181015_PR_Drill_Results.pdf) provides a compilation of mineralized intervals for the 557 boreholes drilled and analyzed to date. Mineralized intervals were defined using 1.0% Cg as a cut-off grade (“cog”). Composite intervals defined using a 3% cog are also presented.
All boreholes were drilled at an inclination of 50 degrees from the horizontal and cross-cut the geological succession as perpendicularly as possible. The graphitic paragneiss displays foliation dipping between 80 and 85 degrees to the west.
Core logging and sampling were performed at the Company’s facility in the town of Lola. Sample preparation was performed by Veritas Laboratory in Abidjan, Côte d’Ivoire. Pulp samples were delivered to Activation Laboratories Ltd., Ancaster, Ontario, Canada. The samples were treated through a multi-stage furnace process to remove organic carbon and carbonate carbon. The remaining graphitic carbon was measured as carbon dioxide in the infrared (“IR”) cell as gas flowed through the cell. Carbon dioxide absorbs IR energy at a precise wavelength within the IR spectrum. All analyses were performed using Eltra instruments.
The technical information in this release has been reviewed and approved by Dr. Marc-Antoine Audet, PhD Geo., P.Geo, Lead Geologist, SRG, and a “qualified person” as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects.
SRG is also pleased to announce that EEM Sustainable Management (“EEM”), a Canadian-based independent environment consultancy company from Montreal with significant experience in Guinea, has been selected to revise and update the Lola graphite project’s environmental and social impact assessment to ensure compliance with local and international standards.
Figure 1: Image of the drilling program phases and boreholes
About Sama Resources Inc.
Sama is a Canadian-based mineral exploration and development company with projects in West Africa.
Sama holds a control position in SRG of 24,658,267 shares representing 35.54% of the issued and outstanding shares of SRG and is considered an insider for reporting purposes.For more information about Sama, please visit Sama’s website at http://www.samaresources.com.
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, Corporate Development Advisor
Tel: (604) 443-3835
Toll Free: 1 (877) 792-6688, Ext. 5
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FORWARD LOOKING STATEMENTS
Certain of the statements made and information contained herein are “forward-looking statements” or “forward-looking information” within the meaning of Canadian securities legislation. 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 electrochemical characterization, 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.