MONTREAL, QUEBEC–(Marketwired – Feb. 21, 2017) – Sama Graphite Inc. (TSX VENTURE:SRG) (“SRG” or the “Company”) today announced flotation test results from its wholly-owned Lola Graphite project in Guinea, West Africa. Purities of 99.7% and 99.1% were achieved for the +48 mesh (>0.31 millimeters (“mm”)) and the -48+80 mesh (between 0.18 mm and 0.31 mm), respectively using a light caustic acid wash (10% concentration). The majority of the concentrate, 89% is made up of flake sizes greater than 0.18 millimeters. Super- jumbo flakes (>0.50 mm) account for 29% of the concentrate with purities of 96.6% and 95.9% graphitic carbon (”Cg”) obtained following the basic floatation process (reference: Table 1).
“Our Lola deposit has returned, after only four tests, results that support a purity and quality of graphite that is utilizable in a large spectrum of applications,” stated Dr. Marc-Antoine Audet, P.Geo, President and Chief Executive Officer. “Our objective is to complete a preliminary economic assessment by the third quarter of 2017 and a feasibility study by mid-2018.”
A 4,800-meter drilling program is underway on the property with an objective to delineate National Instrument 43-101 resources. SRG expects to complete the program by the beginning of July 2017. Concurrently, the Company commenced an Environmental Baseline Study, which is being conducted by the Ivorian organization, SIMPA.
Metallurgical processing refinements will continue in the first quarter of 2017 to generate an optimized flow sheet.
Table 1: Flotation Testing – December 2016 (Fourth Test)
| Head Grade: 15.6% | ||||||||
| Grinding | Typical Flotation | Acid Wash | ||||||
| Flake Size | mm | % | % Cg | % Cg | ||||
| +28 Mesh (Super Jumbo) | >0.61 | 8.0 | 96.6 | |||||
| +35 Mesh (Super Jumbo) | >0.50 | 21.0 | 95.9 | 99.7 | ||||
| +48 Mesh (Jumbo) | >0.31 | 28.0 | 93.4 | |||||
| +80 Mesh (Large) | >0.18 | 32.0 | 89.3 | 99.1 | ||||
| -80 Mesh | <0.18 | 11.0 | 83.2 | Not tested |
Metallurgical tests were carried out on surface oxide material from the Lola Graphite deposit by Activation Laboratories Ltd., Thunder Bay, Ontario. Tests included optimization flotation to simplify the process and eliminate previous flash flotation and gravity steps. A conventional flotation and concentrate regrind flow sheet was used.
The technical information in this release has been reviewed and approved by Dr. Marc-Antoine Audet, P.Geo, President & CEO, SRG, and a qualified person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects.
Stock Options Granted
The Company also announced that, pursuant to its Stock Option Plan and subject to regulatory acceptance, it has granted an aggregate total of 3,583,000 incentive stock options to certain directors, officers, employees and consultants of the Company, subject to certain vesting provisions. These options will be exercisable at a price of $0.365 per common share and will expire on February 20, 2027.
About Sama Graphite Inc. (SRG)
SRG is a Canadian-based company focused on developing the Lola Graphite deposit, located in the Republic of Guinea, West Africa. SRG is committed to operate in a socially, environmentally and ethically responsible manner.
For additional information, please visit SRG’s website at www.srggraphite.com.
Forward-Looking Statements
This press release contains information that may constitute forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and assumptions and accordingly, actual results and future events could differ materially from those expressed or implied in such statements. You are hence cautioned not to place undue reliance on forward-looking statements. Additional Information identifying risks and uncertainties is contained in the Company’s filings with the Canadian Securities regulators, which filings are available at www.sedar.com.
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.
Dr. Marc-Antoine Audet
President and CEO
+1 (514) 726-4158
ceo@srggraphite.com
NXT Communications
Jean-Paul Blais
President & CEO
+1 (514) 867-7447