00:40:43 EDT Fri 19 Apr 2024
Enter Symbol
or Name
USA
CA



Sama Resources Inc
Symbol SME
Shares Issued 188,426,410
Close 2018-10-18 C$ 0.34
Market Cap C$ 64,064,979
Recent Sedar Documents

Sama investment SRG drills 55.5 m of 8.92% Cg at Lola

2018-10-18 12:21 ET - News Release

Dr. Marc-Antoine Audet reports

SAMA RESOURCES REPORTS ON SRG GRAPHITE INC.'S DRILL RESULTS

Sama Resources Inc. investment SRG Graphite Inc. has released assay results for 162 new boreholes since announcing mineral resources last June, 2018, bringing the total to 557 boreholes over 18,037 metres drilled at the Lola graphite deposit in Guinea, West Africa. In addition to the planned 2018 exploration program, which is now completed, SRG Graphite's management has decided to extend the drill program to take advantage of the cost-beneficial drill rig SRG Graphite has on site. The third phase of the drill program is continuing, with 60 additional boreholes over 3,000 metres completed so far.

Drill results highlights:

  • Hole LL36-262441 -- 55.50 metres of 8.92 per cent graphitic carbon, including 48 metres of 10.07 per cent graphitic carbon;
  • Hole LL39-139708 -- 38.05 metres of 8.67 per cent graphitic carbon, including 23.05 metres of 13.12 per cent graphitic carbon;
  • Hole LL42-112057 -- 49.10 metres of 8.62 per cent graphitic carbon, including 21.40 metres of 17.61 per cent graphitic carbon;
  • Hole LL48-177588 -- 14.85 metres of 11.38 per cent graphitic carbon, including 12.85 metres of 12.94 per cent graphitic carbon.

The current drill hole results cover approximately 60 per cent of the deposit's surface footprint. To date, only the weathered portion of the deposit has been drilled, representing the first 30 metres from the surface on average. The additional drilling program includes 10 boreholes designed for testing graphitic carbon 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 the first half of 2019. Please visit the SRG Graphite website for a compilation of mineralized intervals for the 557 boreholes drilled and analyzed to date. Mineralized intervals were defined using 1 per cent graphitic carbon as a cut-off grade. Composite intervals defined using a 3-per-cent cut-off grade are also presented.

All boreholes were drilled at an inclination of 50 degrees from horizontal and crosscut the geological succession as perpendicular as possible. The graphitic paragneiss displayed foliation dipping between 80 degrees and 85 degrees to the west.

Core logging and sampling were performed at the company's facility in the village of Lola. Sample preparation was performed by Veritas Laboratory in Abidjan, Ivory Coast. Pulp samples were delivered to Activation Laboratories Ltd., Ancaster, Ont., 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 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, PGeo, lead geologist, SRG, and a qualified person as defined by National Instrument 43-101 -- Standards of Disclosure for Mineral Projects.

EEM Sustainable Management, 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.

About Sama Resources Inc.

Sama Resources is a Canadian-based mineral exploration and development company with projects in West Africa. Sama Resources holds a control position in SRG Graphite of 24,658,267 shares, representing 35.54 per cent of the issued and outstanding shares of SRG Graphite, and is considered an insider for reporting purposes.

We seek Safe Harbor.

© 2024 Canjex Publishing Ltd. All rights reserved.