Sama Resources Reports on SRG Graphite's Engagement of a Preliminary Economic Assessment Report
MONTREAL, Oct.11, 2017(GLOBE NEWSWIRE) -- Sama Resources Inc. ("Sama" or the "Company") (TSX-V:SME) is pleased to report that SRG Graphite Inc ("SRG") (TSX-V:SRG) has announced the engagement of Met-Chem, a division of DRA Americas Inc. ("Met-Chem/DRA"), to undertake a Preliminary Economic Assessment ("PEA") of the Company's wholly-owned Lola Graphite Project ("Lola"), located in Guinea. Sama holds a control position in SRG of 24,658,267 shares representing 43.93% of the issued and outstanding shares of SRG and is considered an insider for reporting purposes.
SRG's Lola Graphite Project, a spin out of Sama Resources, has a graphite occurrence with a prospective surface outline of 3.22 km2 of continuous graphitic gneiss. The PEA study will commence immediately with completion of the National Instrument 43-101 compliant PEA expected in December 2017.
The PEA will utilize the geological information as well as the metallurgical and mineral processing data currently available to determine and describe the scope of the potential future mining operation at Lola. Met-Chem/DRA is a globally recognized expert in mine and infrastructure design, including construction and mine operations, resource mapping, metallurgy, cost assessment, process design and administration.They have a track record in the Graphite sector having prepared numerous PEA's pre-feasibility studies (PFS) and Feasibility Studies (FS) as well as EPCM work in Graphite in Canada and Africa.
Appointment of Director of Operations
Sama is pleased to announce the appointment of Mr. Rapha?< Rapha?< "Through his strong mineral processing experience, Rapha?< For more information on the SRG news or specific information on the Lola Project please visit their website at www.srggraphite.com. The technical information in this release has been reviewed and approved by Dr. Marc-Antoine Audet, P.Geo, President & CEO, Sama and qualified person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects. FOR FURTHER INFORMATION, PLEASE CONTACT: SAMA RESOURCES INC./RESSOURCES SAMA INC. 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 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 and CEO
Tel: (514) 726-4158
OR
Mr. Matt Johnston, Corporate Development Advisor
Tel: (604) 443-3835
Toll Free: 1 (877) 792-6688, Ext. 5
Certain of the statements made and information contained herein are "forward-looking statements" or "forward-looking information" within the meaning of Canadian securities legislation. 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.