An anonymous director reports
SAMA RESOURCES REPORTS ON SRGA ASSAY RESULTS FOR ITS COBALT-NICKEL-SCANDIUM GOGOTA PROJECT
SRG Graphite Inc. has released the remaining assay results from the drilling program conducted on Sama Resources Inc. investee SRG's cobalt-nickel-scandium Gogota project in Guinea, West Africa. With these latest assay results, SRG is now in a position to produce a maiden resource estimate. Sama holds a control position in SRG of 24,658,267 shares representing 40.09 per cent of the issued and outstanding shares of SRG and is considered an insider for reporting purposes.
To complete the resource estimate, SRG has hired Montreal-based Met-Chem, a division of DRA Americas Inc. The Gogota cobalt-nickel-scandium occurrence has a prospective surface outline of 1.96 square kilometres and is approximately five kilometres away from SRG's Lola graphite deposit. The study will commence immediately with completion of the National Instrument 43-101 compliant resource estimate expected in the first half of 2018.
Press release highlights:
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25 metres at 0.21 per cent cobalt, 1.37 per cent nickel and 32 grams per tonne scandium;
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23 metres at 0.18 per cent cobalt, 1.27 per cent nickel and 39 g/t scandium.
SRG hires Met-Chem/DRA for the completion of an NI 43-101 compliant resource estimate for the Gogota project.
Of the 51 vertical drill holes carried out over the Gogota deposit in 2012 to 2013, 31 were drilled over a 200-metre-by-400-metre grid and 20 were drilled over a 200-metre-by-200-metre grid. The first phase of samples from 31 drill holes representing 800 samples was sent for analysis in 2013 and returned significant cobalt, nickel and scandium results, among others. These results were reported again by SRG on Jan. 23, 2018. The second phase of 20 drill holes representing 425 samples was recently sent for analysis. The combined mineralized intervals for all boreholes are presented in the attached table.
COMBINED MINERALIZED INTERVAL HIGHLIGHTS (TRUE WIDTHS)
Hole-ID From Length Co Ni Scandium Fe MgO SiO2 Al2O3
(m) (m) % % g/t % % % %
GG24-400800 15.50 5.50 0.18 0.75 37.28 45.90 0.26 9.92 12.29
GG24-600800 9.00 16.00 0.17 1.39 26.88 51.80 0.43 3.94 4.66
GG24-800400 2.00 18.20 0.19 1.43 45.06 52.19 0.38 3.33 4.99
GG24-800600 3.70 13.50 0.22 1.27 29.18 51.32 0.48 8.29 3.29
GG24-800800 4.00 20.80 0.15 1.41 29.62 53.42 0.60 4.51 4.05
GG25-200200 5.00 14.50 0.13 1.30 33.11 51.24 0.42 7.83 3.11
GG25-200400 6.00 10.00 0.13 1.19 30.00 48.02 0.33 13.22 2.74
GG25-200600 8.00 3.00 0.17 1.28 35.30 52.03 0.62 3.01 5.15
GG25-200800 11.00 19.00 0.17 1.29 27.90 53.40 0.53 2.95 3.49
GG25-400200 4.00 14.50 0.18 1.52 31.73 53.29 0.30 6.38 3.49
GG25-400400 12.50 20.00 0.17 1.53 24.77 49.87 0.37 5.47 5.56
GG25-400600 7.00 16.00 0.16 1.36 29.88 50.14 0.76 4.30 6.73
GG25-400800 8.00 17.80 0.16 1.25 24.50 50.90 0.69 4.04 5.67
GG25-600400 0.00 7.50 0.13 1.08 20.91 40.14 0.63 9.86 14.09
GG25-600600 3.80 14.40 0.13 1.52 25.23 44.64 1.30 7.45 10.35
GG25-600800 6.00 22.00 0.17 1.46 32.62 44.39 1.14 6.94 10.91
GG34-400200 1.50 6.90 0.13 1.58 40.30 44.14 2.73 9.75 8.21
GG34-400400 3.00 1.50 0.11 0.90 33.84 27.56 3.00 38.39 7.28
GG34-600200 1.50 17.90 0.20 1.38 26.91 47.19 1.08 6.02 7.77
GG34-600400 3.00 22.00 0.17 1.51 28.61 48.59 0.69 4.47 7.00
GG34-600600 7.00 25.00 0.21 1.37 32.41 47.73 1.60 5.97 6.20
GG34-600800 1.00 8.50 0.18 1.28 34.71 44.66 0.49 6.26 11.74
GG34-800200 2.10 12.00 0.24 1.16 32.63 48.08 0.49 5.11 10.11
GG34-800400 15.00 3.00 0.17 1.53 37.50 48.63 1.12 9.61 6.33
GG34-800600 6.00 23.00 0.18 1.27 39.14 51.63 0.40 3.63 4.89
GG34-800800 5.50 12.50 0.16 1.42 31.20 50.25 1.18 6.81 5.97
GG35-200200 14.00 16.00 0.16 1.33 23.13 49.83 0.34 8.75 3.43
GG35-200600 10.50 10.00 0.22 1.51 26.50 46.95 1.04 7.94 6.22
GG35-200800 2.60 16.40 0.21 1.26 28.42 48.62 0.84 3.93 7.64
GG35-400200 0.00 14.10 0.17 1.39 23.95 48.09 0.61 4.86 8.53
GG35-400400 0.90 4.40 0.21 1.27 31.49 50.04 0.84 6.62 6.42
GG35-400600 4.00 2.50 0.14 1.16 30.00 42.41 0.92 13.51 10.98
GG35-400800 3.00 8.00 0.18 1.19 36.25 49.11 0.80 5.71 8.77
GG35-600200 1.50 12.50 0.15 1.33 29.62 40.82 1.47 11.44 12.14
GG35-600400 1.60 1.60 0.27 0.51 13.75 31.37 0.29 7.15 25.89
GG35-600600 7.00 15.50 0.14 1.80 22.09 41.77 4.72 13.43 6.12
GG35-600800 2.00 16.40 0.13 1.65 29.46 49.25 0.75 8.21 5.24
GG44-600200 1.50 1.50 0.12 0.58 20.00 32.64 0.21 18.54 19.08
GG44-800200 8.50 14.00 0.21 1.45 36.43 49.57 0.45 5.61 5.98
GG44-800400 8.00 7.50 0.18 0.69 38.26 42.53 1.70 13.26 10.46
GG45-200200 4.50 1.60 0.22 1.28 26.25 44.55 1.21 9.93 9.39
GG45-200400 1.50 24.50 0.16 1.37 26.47 50.99 0.68 4.73 5.28
GG45-400200 2.30 7.40 0.15 0.95 38.91 41.86 0.58 12.44 13.18
* Measurements begin at surface. Mineralized intervals defined using 0.1-per-cent cobalt
cut-off grades.
Core logging and sampling were performed at the SRG's facility in the village of Gogota. Sample preparation was performed by Veritas Laboratory in Abidjan, Ivory Coast. Pulp samples were delivered to Activation Laboratories Ltd., Ancaster, Ont. All samples were assayed for cobalt, nickel and all major oxides using peroxide fusion XRF. Scandium was determined by inductively coupled plasma optical emission spectrometry.
About Sama Resources Inc.
Sama is a Canadian-based mineral exploration and development company with projects in West Africa. On Oct. 23, 2017, Sama announced that it had entered into a binding term sheet in view of forming a strategic partnership with HPX TechCo Inc., for the development of its Ivory Coast nickel-copper and cobalt project.
The technical information in this release has been reviewed and approved by Dr. Marc-Antoine Audet, PhD, PGeo, lead geologist, SRG, and a qualified person as defined by National Instrument 43-101 -- Standards of Disclosure for Mineral Projects.
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