Sama Announces High Grade Graphite Intercepts at the 8.7km Long
Lola Graphite Deposits Republic of Guinea, West Africa
Highlights:
LL45-127462 : 22.85m at 10.44% Graphite Carbon
LL45-125470 : 19.50m at 11.83% Graphite Carbon
LL47-592442 : 18.00m at 13.17% Graphite Carbon
MONTREAL, QUEBEC--(Marketwired - Jun 6, 2014) - 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. |
|
|
|
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 |
|
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 Côte 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 Société de Développement de Gouessesso's sample
preparation facility in Gouessesso village in Côte 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.
Sama Resources Inc./Ressources Sama Inc.Dr. Marc-Antoine
AudetPresident and CEO(514) 726-4158Sama Resources Inc./Ressources
Sama Inc.Mr. Matt Johnston(604) 443-3835 or Toll Free: 1 (877)
792-6688, Ext. 4
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