MONTREAL, March 14, 2019 (GLOBE NEWSWIRE) -- Sama Resources Inc. (TSXV: SME | OTC.PK: SAMMF) (“SME” or the “Company”) reports that SRG Graphite Inc. (“SRG”) has reported its final assay results of its 2018 drilling campaign for its Lola Graphite deposit in Guinea, West Africa. These results represent 71 new boreholes, bringing the total drilling program for the project to 638 boreholes for 22,239 meters (“m”). Of these boreholes, 10 were drilled at depth to confirm the presence of graphitic carbon (“Cg”) within the non-weathered rock assemblage below the graphite-rich surface saprolite. All 638 boreholes will be included in the updated resource estimate produced as part of SRG’s feasibility study expected in the first half of 2019.
Drill Results Highlights:
- Hole LL39-162665: 21.00m at 7.74% Cg including 10.50m at 13.46% Cg, from surface
- Hole LL36-369056: 35.44m at 5.56% Cg including 20.46m at 7.93 % Cg, from 2.6m
- Hole LL36-384159: 30.72m at 6.50% Cg including 19.00m at 9.25% Cg, from surface
- Hole LL39-085636: 147.45m at 4.94% Cg including 91.85m at 6.90% Cg, from 8.4m
- Hole LL42-037030: 211.65m at 4.16% Cg including 116.81m at 6.18% Cg, from 4.8m
The section below (see Figure 1) illustrates mineralisation continuity below the weathered saprolite. Drilling performed to date covers approximately 60% of the deposit’s surface footprint (see Figure 2), essentially covering the first 30 meters of depth from the surface, on average.
The following link (Table 1) provides a compilation of mineralized intervals for the 638 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.
Figure 1: Section 4,800 NE (referenced on Figure 2)
Core logging and sampling were performed at SRG’s facility in the village 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.
Figure 2: Image of 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.