Sama Resources Acquire 100% Ownership of Highly Prospective Graphite Project in the Republic of Guinea, West Africa
September 09, 2013 (Source: Marketwire) — 380 square kilometre land package includes well exposed graphite mineralization at surface over a 7 kilometre strike length with samples grading up to 16.8% Carbon
Sama Resources Inc./Ressources Sama Inc. (TSX VENTURE:SME) (“Sama” or the “Company”) is pleased to announce that it has obtained a license (PR A2013/090, decree A2003/4543/MMG/SGG) to explore for graphite over a 380 square kilometer (“km”) land package in the Republic of Guinea, West Africa (the “Graphite Project“). The Graphite license was granted following an initial reconnaissance performed under a Reconnaissance Permit No. 2013/002/MMG/DNM.
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. The Graphite Project lies within what Sama believes to be West Africa’s next world-class base metals camp related to the recently outlined large Yacouba Layered Complex which hosts the Samapleu Nickel-Copper-Palladium deposits, the Sama’s 27 newly discovered Nickel-Cobalt-Scandium laterite deposits and occurrences in Guinea, the Glencore-Xstrata Sipilou and Foungouesso Nickel-Cobalt laterite deposits in Côte d’Ivoire along with Sama’s numerous massive chromite occurrences as well.
Preliminary field investigation has outlined a 7 km long Achaean age graphitic gneiss oriented north-south with an average width of 350 metres (“m“). Graphite mineralization is well exposed at surface on its entire strike length with sample grades ranging from trace to up to 17% of large flakes and often seen in higher concentration agglomerates.
Chemical analysis performed on nine samples collected from surface down to 8.4 m at depth returned percentage of Carbon (%Cp) ranging from 3.5% to 11.5%. Samples were assayed for graphitic carbon by ALS Chemex laboratory in Val d’Or, Québec, Canada using C-IR18 methodology (LECO followed by acid digestion and sorting).
Preliminary metallurgical tests performed at the Centre de Technologie Minérale et de Plasturgie in Thetford-Mines, Québec, Canada on representative samples, grading from 2.8% to 16.8% carbon, showed that 80% of graphite flakes are sized greater than 0.25 millimetre and 50% greater than 1.0 millimetre. The study also indicates that there is a trend of higher carbon distribution in the higher flakes size.
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Please click the link below for a map showing the location of the Graphite Project and the preliminary geological compilation: www.samaresources.com/i/misc/SamaResource’sGraphiteProjectGuinea.jpg.
This News Release was prepared by Dr. Marc-Antoine Audet, P.Geo, President and CEO of Sama Resources Inc. and a Qualified Person under National Instrument 43-101. M. Jean Laforest, P.Geo made a site visit in April 2013 and produced an independent report. The report will be available on our website shortly.
The reader is invited to review Sama’s updated compilation on its website at www.samaresources.com/i/pdf/Sama_Corporate_Presentation.pdf for more details.
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.
Raj Shah has professional experience working for over a half a dozen years at financial firms such as Merrill Lynch and First Allied Securities Inc., ... <Read more about Raj Shah>