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Sama Resources Inc.
Summary
| Project: | Lola | |
|---|---|---|
| Deposit: | Lola | |
| Location: | Guinea | |
| Commodities: | Graphite | |
| Date: | 6/18/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 18-6-2018: Sama Resources Inc. announces a Resource Estimation report for its Lola deposit at the Lola project. Mineral resource increase by 54%. MONTREAL, Quebec, June 18, 2018 -- Sama Resources Inc. (TSX-V:SME) (“SME” or the “Company”) today re | |
| Resources: | (Resource): 2.06Mt @ 6.07Cg (Inf.) + 12.2Mt @ 5.55% Cg (I.+M.) at deposit | |
| CP/QP: | [Resources]: Not stated (Not stated) | |
| ABSTRACT: | MONTREAL, Quebec, June 18, 2018 -- Sama Resources Inc. (TSX-V:SME) (“SME” or the “Company”) today reports that SRG Graphite Inc. (“SRG”) has announced an updated resource estimate for their Lola graphite deposit located in the Republic of Guinea (the “2018 Mineral Resource Estimate”). The 2018 Mineral Resource Estimate represents an increase of 54% of Insitu Graphitic Carbon (‘Cg’) at a 3% cut-off grade since the publication of the maiden resource. In preparation for the next phase of development of the project, several boreholes were completed to increase measured and indicated resources from inferred resources. As such, measured and indicated resources increased from 224,118t to 676,900t of Cg content at a 3% cut-off-grade, an increase of 201%. The 2018 Mineral Resource Estimate, prepared by Montreal-based Met-Chem, a division of DRA Americas Inc. (“MetChem/DRA”), includes a pit-constrained measured and indicated resource of 12.2 million tonnes (“Mt”) grading 5.6% Cg and an inferred resource of 2.1 Mt grading 6.1% Cg, using a cut-off grade of 3.0% Cg. Effective date of the estimate is June 14, 2018. The 2018 Mineral Resource Estimate replaces the maiden mineral resource estimate which was reported by SRG on December 22, 2017, and subsequently included in a Technical Report completed by Met-Chem/DRA with an effective date of September 30, 2017. A NI 43-101 Technical Report will be filed on SEDAR within 45 days of this news release providing the details of this resource update. Figure 1 provides a map of the current drilling program. Completed boreholes, assay results pending and boreholes to be completed can be viewed on the map. | |
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