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SME Sama Resources Inc

0.12
0.00 (0.00%)
26 Jul 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Sama Resources Inc TSXV:SME TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.12 0.115 0.12 0 14:25:14

Sama Resources Acquire 100% Ownership of Highly Prospective Graphite Project in the Republic of Guinea, West Africa

09/09/2013 12:00pm

Marketwired Canada


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 Cote 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 Cote 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, Quebec,
Canada using C-IR18 methodology (LECO followed by acid digestion and sorting).


Preliminary metallurgical tests performed at the Centre de Technologie Minerale
et de Plasturgie in Thetford-Mines, Quebec, 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. 


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. 


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. 


FOR FURTHER INFORMATION PLEASE CONTACT: 
Sama Resources Inc.
Dr. Marc-Antoine Audet
President and CEO
(514) 726-4158


Sama Resources Inc.
Mr. Matt Johnston
(604) 443-3835 or Toll Free: 1 (877) 792-6688, Ext. 4
(604) 682-3860 (FAX)
www.samaresources.com

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