Sama Announces High Grade Graphite Intercepts at the 8.7km Long Lola Graphite Deposits Republic of Guinea, West Africa
06 Junio 2014 - 1:49PM
Marketwired Canada
Sama Resources Inc./Ressources Sama Inc. ("Sama" or the "Company") (TSX
VENTURE:SME) 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:
http://www.samaresources.com/i/projects/lola/lolagraphitesurfacemap.pdf
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.
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HOLE-ID Facies FROM TO LENGTH Graphite Carbon (Cg)
----------------------------------------------------------------------------
m m m %
LL45-127462 Oxide-soil 0.00 0.25 0.25 1.82
Oxide-Limonite 0.25 2.50 2.25 2.85
Oxide-Saprolite 2.50 21.90 19.40 10.61
Fresh rock 21.90 26.00 4.10 10.31
LL45-043479 Oxide-soil 0.40 1.50 1.10 1.32
Oxide-Limonite 1.50 7.50 6.00 3.06
Oxide-Limonite 10.50 22.50 12.00 8.84
LL48-048018 Oxide-Limonite 1.50 7.50 6.00 4.06
Oxide-Saprolite 17.00 21.00 4.00 1.94
LL45-110273 Oxide-soil 0.00 0.25 0.25 1.86
Oxide-Limonite 0.25 1.70 1.45 2.58
Oxide-Saprolite 1.70 16.50 14.80 3.99
Fresh rock 16.50 21.20 4.70 4.17
LL48-177588 Oxide-soil 0.00 0.15 0.15 3.96
Oxide-Limonite 3.00 4.00 1.00 2.66
Oxide-Saprolite 4.00 13.50 9.50 13.37
Fresh rock 13.50 17.70 4.20 9.21
LL55-098218 Oxide-Limonite 1.50 17.00 15.50 1.99
Oxide-Saprolite 17.00 22.00 5.00 5.84
Oxide-Saprolite 23.00 32.00 9.00 2.81
Fresh rock 32.00 33.00 1.00 2.48
LL42-110205 Oxide-soil 0.00 0.15 0.15 1.28
Oxide-Limonite 0.15 1.30 1.15 2.22
Oxide-Saprolite 1.30 24.15 22.85 10.44
Fresh rock 24.15 25.50 1.35 6.39
LL41-783245 Oxide-Limonite 9.00 11.50 2.50 0.99
Oxide-Saprolite 11.50 25.00 13.50 2.19
LL45-125470 Oxide-Limonite 0.25 1.00 0.75 3.28
Oxide-Saprolite 1.00 20.50 19.50 11.83
Fresh rock 20.50 22.50 2.00 12.15
LL48-168378 Oxide-soil 0.00 1.30 1.30 3.10
Oxide-Saprolite 1.30 11.00 9.70 4.99
Fresh rock 11.00 13.50 2.50 1.27
LL42-156287 Oxide-Saprolite 1.00 22.50 21.50 2.97
LL51-256586 Oxide-Saprolite 17.60 19.00 1.40 1.20
Oxide-Saprolite 23.00 27.70 4.70 1.17
LL54-737579 Oxide-Limonite 0.15 5.90 5.75 11.02
Oxide-Saprolite 5.90 12.24 6.34 8.76
LL57-652800 Oxide-Limonite 0.15 1.50 1.35 1.09
Oxide-Limonite 10.20 14.00 3.80 1.53
Oxide-Saprolite 14.00 25.80 11.80 13.26
LL47-592442 Oxide-Limonite 0.15 7.00 6.85 3.26
Oxide-Saprolite 7.00 25.00 18.00 13.17
Fresh rock 25.00 30.00 5.00 8.49
LL48-003473 Oxide-soil 0.00 0.20 0.20 10.40
Oxide-Limonite 0.20 7.00 6.80 2.07
Oxide-Saprolite 7.00 20.00 13.00 3.38
Fresh rock 20.00 22.50 2.50 1.65
LL36-168588 Oxide-soil 0.00 0.20 0.20 1.38
Oxide-Saprolite 0.20 16.50 16.30 2.78
LL39-179005 Oxide-Limonite 1.50 7.00 5.50 1.89
Oxide-Saprolite 7.00 19.70 12.70 1.79
LL36-322481 Oxide-soil 0.00 0.25 0.25 1.74
Oxide-Limonite 0.25 8.00 7.75 1.18
Oxide-Saprolite 8.00 15.10 7.10 3.33
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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 Cote 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
Societe de Developpement de Gouessesso's sample preparation facility in
Gouessesso village in Cote 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:
http://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.
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.
FOR FURTHER INFORMATION PLEASE CONTACT:
Sama Resources Inc./Ressources Sama Inc.
Dr. Marc-Antoine Audet
President and CEO
(514) 726-4158
Sama Resources Inc./Ressources Sama Inc.
Mr. Matt Johnston
(604) 443-3835 or Toll Free: 1 (877) 792-6688, Ext. 4
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