MONTREAL, March 21, 2018 (GLOBE NEWSWIRE) -- SAMA Resources Inc. (TSX-V:SME)
(“SME” or the “Company”) today reports that SRG Graphite Inc. (“SRG”) announced drill results
from its ongoing drilling program at SRG’s Lola graphite deposit in Guinea, West Africa. To date, 346 boreholes, totalling 9,600
meters (“m”), have been drilled on the property of which, 175 boreholes, totalling 4,698m, since the Company
announced its maiden resource on December 22nd, 2017.
Once completed, the 2018 drilling program will result in a coverage of approximately 35% of the total surface
area of the deposit as defined by geological mapping, a geophysical Max-Min survey and previous drilling and pitting. See
(Figure 1) With these results, along with upcoming results, SRG will have gathered
sufficient data to produce a Preliminary Economic Assessment and continue to demonstrate the potential of the deposit.
A drilling contract was awarded to Foraco S.A., an experienced drilling contractor, to expedite the completion
of the 2018 drilling program. In addition, Foraco’s two drill rigs, SRG continues to contract the Company’s drill rig for infill
drilling and regional exploration due to its proximity, availability and cost effectiveness.
Assay results, conducted by Activation Laboratories Ltd in Canada, have been received for 276 boreholes out of
the 346 drilled to date. Composite results for 73 boreholes are shown in Table 1. Mineralized intervals were defined using 1.0%
Graphitic Carbon grade (“Cg”) as a cut-off grade while highlights were defined using 3.0% Cg.
Table 1: Composite Results of 73 boreholes
|
HOLE-ID |
FROM |
LENGTH |
CG |
|
HOLE-ID |
FROM |
LENGTH |
CG |
|
|
m |
m |
% |
|
|
m |
m |
% |
| LL39-077412 |
4.00 |
27.50 |
3.49 |
|
LL48-163165 |
21.00 |
18.00 |
4.05 |
| including* |
|
7.50 |
6.52 |
|
including* |
|
10.50 |
5.35 |
| LL39-053403 |
0.00 |
33.00 |
5.82 |
|
LL48-143159 |
8.90 |
8.10 |
4.29 |
| including* |
|
15.00 |
10.42 |
|
LL48-199286 |
10.50 |
6.00 |
3.02 |
| LL42-192773 |
0.00 |
3.00 |
2.57 |
|
LL48-180279 |
0.00 |
16.00 |
2.44 |
| LL42-174766 |
6.00 |
16.50 |
3.66 |
|
including* |
|
3.00 |
4.78 |
| LL42-155759 |
0.00 |
25.30 |
4.57 |
|
LL48-162271 |
0.00 |
17.00 |
3.31 |
| including* |
|
16.50 |
5.86 |
|
including* |
|
6.00 |
5.64 |
| LL42-136752 |
21.00 |
16.80 |
4.54 |
|
LL48-151266 |
0.00 |
19.50 |
4.55 |
|
including* |
|
10.50 |
5.95 |
|
including* |
|
17.00 |
4.92 |
| HOLE-ID |
FROM |
LENGTH |
CG |
|
HOLE-ID |
FROM |
LENGTH |
CG |
|
|
m |
m |
% |
|
|
m |
m |
% |
| LL42-117746 |
0.00 |
18.00 |
3.23 |
|
LL48-141315 |
0.00 |
19.50 |
4.03 |
| LL42-099740 |
1.50 |
4.50 |
2.44 |
|
including* |
|
12.00 |
5.30 |
| LL42-081733 |
27.00 |
7.50 |
4.35 |
|
LL48-160323 |
0.00 |
18.00 |
3.76 |
| LL42-063726 |
24.00 |
28.30 |
2.45 |
|
including* |
|
7.50 |
6.15 |
| LL42-044719 |
4.50 |
18.00 |
4.14 |
|
LL48-178330 |
1.50 |
12.00 |
1.62 |
| LL42-021710 |
1.00 |
15.50 |
5.03 |
|
LL48-196339 |
3.00 |
10.50 |
4.98 |
| including* |
|
7.50 |
9.01 |
|
including* |
|
9.00 |
5.47 |
| LL41-800703 |
27.00 |
15.00 |
3.67 |
|
LL48-178433 |
1.50 |
7.80 |
1.46 |
| LL45-210073 |
0.00 |
21.00 |
4.04 |
|
LL48-197440 |
0.00 |
10.50 |
1.32 |
| including* |
|
10.50 |
6.35 |
|
LL48-151218 |
0.00 |
28.70 |
6.35 |
| LL45-167065 |
3.00 |
10.50 |
5.66 |
|
including* |
|
21.20 |
7.86 |
| including* |
|
6.00 |
8.44 |
|
LL48-188232 |
1.50 |
13.60 |
2.67 |
| LL45-149058 |
19.50 |
21.40 |
3.21 |
|
including* |
|
1.50 |
7.07 |
| including* |
|
7.50 |
5.33 |
|
LL48-169224 |
2 |
19.25 |
3.44 |
| LL45-130052 |
9.00 |
13.50 |
3.89 |
|
including* |
|
9.00 |
5.07 |
| LL45-112045 |
0.00 |
24.00 |
2.59 |
|
LL48-175491 |
2 |
15.70 |
1.40 |
| including* |
|
1.50 |
4.35 |
|
LL48-152482 |
2 |
22.20 |
5.63 |
| LL45-093038 |
3.00 |
19.50 |
3.40 |
|
including* |
|
20.70 |
5.96 |
| LL45-076031 |
0.00 |
8.00 |
5.50 |
|
LL48-128494 |
0 |
13.50 |
4.05 |
| LL45-057025 |
0.40 |
22.10 |
2.39 |
|
including* |
|
8.50 |
5.60 |
| LL45-034016 |
9.00 |
3.00 |
6.32 |
|
LL48-172595 |
0 |
30.00 |
4.42 |
| LL45-030073 |
7.50 |
15.70 |
1.90 |
|
including* |
|
17.20 |
6.25 |
| LL45-051080 |
4.00 |
6.50 |
3.51 |
|
LL48-192603 |
0 |
4.50 |
1.43 |
| LL45-075089 |
10.50 |
11.50 |
4.13 |
|
LL48-142690 |
0 |
18.20 |
4.72 |
| LL45-093094 |
0.00 |
14.00 |
3.24 |
|
including* |
|
15.00 |
5.31 |
| including* |
|
5.00 |
4.13 |
|
LL48-119682 |
2 |
18.50 |
3.77 |
| LL45-124111 |
0.00 |
15.30 |
3.81 |
|
including* |
|
9.00 |
5.94 |
| including* |
|
6.50 |
5.98 |
|
LL48-100781 |
2 |
19.50 |
3.83 |
| LL45-220038 |
0.70 |
20.30 |
3.31 |
|
including* |
|
5.60 |
6.70 |
| including* |
|
4.50 |
6.56 |
|
LL48-119792 |
2 |
16.80 |
1.37 |
| LL45-201031 |
12.00 |
20.60 |
5.47 |
|
LL47-736721 |
0.00 |
27.10 |
4.38 |
| including* |
|
16.50 |
6.37 |
|
including* |
|
11.00 |
7.80 |
| LL45-183024 |
1.50 |
1.70 |
3.50 |
|
LL47-713713 |
0.00 |
34.00 |
4.82 |
| including* |
|
1.70 |
3.50 |
|
including* |
|
10.50 |
10.25 |
| LL45-164017 |
21.00 |
19.60 |
3.61 |
|
LL47-689704 |
0.00 |
24.00 |
4.89 |
| including* |
|
7.20 |
4.61 |
|
including* |
|
16.50 |
6.09 |
| LL45-145009 |
16.50 |
14.50 |
4.36 |
|
LL47-666695 |
0.00 |
28.50 |
8.37 |
| including* |
|
7.50 |
5.87 |
|
including* |
|
16.50 |
12.72 |
| LL45-126006 |
16.80 |
19.20 |
2.98 |
|
LL47-642687 |
3.00 |
30.00 |
3.51 |
| including* |
|
5.20 |
5.42 |
|
including* |
|
10.50 |
6.79 |
| LL42-107797 |
0.00 |
18.00 |
7.16 |
|
LL47-787422 |
0.00 |
33.90 |
3.57 |
| including* |
|
13.50 |
8.93 |
|
including* |
|
26.40 |
4.23 |
| LL42-089790 |
1.50 |
30.00 |
3.30 |
|
LL47-640475 |
7.50 |
25.50 |
2.73 |
| including* |
|
7.70 |
7.01 |
|
LL47-682490 |
0.00 |
31.50 |
2.86 |
| LL42-070783 |
3.00 |
4.50 |
1.84 |
|
including* |
|
3.00 |
9.62 |
| LL42-051776 |
3.00 |
26.10 |
2.33 |
|
LL47-701497 |
16.50 |
19.50 |
5.17 |
| LL48-199179 |
1.50 |
13.50 |
2.63 |
|
including* |
|
11.00 |
7.54 |
| LL48-181171 |
0.00 |
17.00 |
5.10 |
|
LL47-720504 |
4.50 |
34.50 |
4.65 |
|
including* |
|
14.50 |
5.67 |
|
including* |
|
20.95 |
6.69 |
*3% Cg cut-off grade (average grade of combined intervals).
All boreholes were drilled at an inclination of 50 degrees from horizontal and cross-cut the geological succession as perpendicular
as possible. The graphitic paragneiss displayed foliation dipping between 80 and 85 degrees to the west.
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 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.,
P.Geo, Lead Geologist, SRG and a 'qualified person' as defined by National Instrument 43-101, Standards of Disclosure for Mineral
Projects.
ABOUT SAMA
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 43.93% of the issued and outstanding
shares of SRG and is considered an insider for reporting purposes.
On October 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 Côte d’Ivoire Nickel-Copper and Cobalt project in Côte d’Ivoire, West-Africa. 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
OR
Mr. Matt Johnston, Corporate Development Advisor
Tel: (604) 443-3835
Toll Free: 1 (877) 792-6688, Ext. 5
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV)
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" 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.
