MONTREAL, QUEBEC–(Marketwired – June 15, 2017) – Sama Graphite Inc. (TSX VENTURE:SRG) (“SRG” or the “Company”) today announced receipt of more results from the drilling program currently underway on the Lola Graphite property in the Republic of Guinea. Assays returned encouraging results, such as 30 meters at 8.14% Cg, including 19 meters at 11.40% Cg. Additionally, drilling in the northern part of the deposit demonstrated increased thicknesses of the weathered graphite mineralized profile to up to 50 meters (“m”) from surface.
| Highlights | ||
| • | Assay results confirm the high-grade potential: | |
| • | LL45-009429: 30.00 meters at 8.14% Cg, including 19.00 meters at 11.40% Cg | |
| • | Thickness of the weathered profile extends to a depth of up to 50 meters in the northern section of the deposit, considerably more than the initially estimated depth of 20 meters | |
| • | Based on results to date, the average weathered profile is approximately 32% greater than anticipated. | |
| • | Approximately 60% of the drilling program has been completed | |
To date, the Company has completed 99 boreholes totaling approximately 2,450 meters, representing approximately 60% of the program.
The drill rig is now situated in the northern zone of the deposit, where a total of 36 boreholes are to be drilled. The first hole drilled at this location returned 52 meters of weathered profile, significantly thicker than SRG’s initial estimate of 20 meters. Based on results to date, the average weathered profile is approximately 32% greater than anticipated.
Composite results shown in Table 1 are for 19 boreholes drilled in southern locations.
The current drilling program aims at producing the first mineral estimates that will be included in the Preliminary Economic Assessment planned for Q4 2017. Boreholes are drilled on a 50 m x 20 m and 100 m x 20 m drilling spacing in two separate locations: southern sector and the northern sector. The current drilling program is aiming at covering approximately 16% of the total surface area of deposit as defined by geological mapping, a geophysical Max-Min survey and previous drilling and pitting.
Table 1
The following table illustrates the details of the mineralized intervals for 20 holes drilled at the Lola Graphite Deposit. Intervals were defined using 1.0% Cg cut-off grades.
| HOLE‐ID | FROM m |
Thickness m |
CG % |
|
| LL45‐187550 | 9.00 | 19.70 | 5.68 | |
| including | 6.20 | 9.31 | ||
| LL45‐193605 | 0.00 | 15.85 | 3.81 | |
| including | 4.50 | 7.21 | ||
| LL45‐211611 | 3.00 | 12.00 | 2.33 | |
| LL45‐117580 | 1.50 | 12.40 | 6.77 | |
| including | 8.90 | 8.42 | ||
| LL45‐097572 | 0.00 | 6.00 | 3.64 | |
| including | 3.50 | 4.65 | ||
| LL45‐077565 | 0.00 | 28.60 | 6.22 | |
| including | 21.60 | 7.73 | ||
| LL45‐059559 | 0.00 | 27.20 | 4.10 | |
| LL45‐079303 | 0.00 | 33.00 | 4.02 | |
| including | 4.50 | 14.73 | ||
| LL45‐060296 | 0.00 | 34.00 | 3.67 | |
| including | 10.50 | 8.40 | ||
| LL45‐037287 | 1.50 | 10.50 | 4.72 | |
| including | 3.00 | 11.93 | ||
| LL45‐001269 | 16.50 | 15.00 | 3.23 | |
| LL45‐026378 | 0.00 | 27.70 | 4.41 | |
| including | 14.10 | 6.70 | ||
| LL45‐043385 | 0.00 | 31.00 | 4.56 | |
| including | 23.00 | 5.55 | ||
| LL45‐066393 | 0.00 | 30.75 | 4.03 | |
| including | 4.50 | 12.70 | ||
| LL45‐137423 | 0.00 | 2.60 | 1.55 | |
| LL45‐159425 | 0.00 | 0.00 | ||
| LL45‐176433 | 2.20 | 19.00 | 5.35 | |
| including | 14.60 | 6.24 | ||
| LL45‐196439 | 3.00 | 20.00 | 5.08 | |
| including | 16.10 | 5.95 | ||
| LL45‐009429 | 0.00 | 30.00 | 8.14 | |
| including | 19.00 | 11.40 | ||
Drilling was performed using a Coretech core drill rig. Core logging and sampling were performed at SRG’s facility in Gogota village. Sample preparations were performed by Bureau Veritas Mineral Laboratory’s facility in Abidjan, Côte d’Ivoire. Pulp samples were delivered to Activation Laboratories Ltd, Ancaster, Ontario, Canada for assaying. All samples were assayed for graphitic carbon by infrared.
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.
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.
Dr. Marc-Antoine Audet
President & CEO
(514) 726-4158
[email protected]
www.srggraphite.com
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