MONTREAL, Aug. 28, 2017 (GLOBE NEWSWIRE) — Sama Resources Inc. (“Sama” or the “Company”) (TSX-V:SME) is pleased to announce that recent tests conducted by CVMR Corporation (“CVMR”) on Samapleu mineralized material returned recovery rates of 92% and 85% nickel and iron, respectively. The quality nickel produced will be suitable for a wide range of end-use applications, including rechargeable batteries, aerospace uses, metal injection molding for automotive and medical instrumentation parts as well as feed material for 3D additive manufacturing. Moreover, the premium nickel and iron powders produced from the concentrate are expected to improve with system optimization during the subsequent campaign.
The cobalt and copper were upgraded by 228% and 279%, respectively, in the post-production concentrate compared to the grade of the feed source. Following the recovery of nickel and iron, the copper, cobalt and PGE (platinum-group metals) became more concentrated to levels that can potentially be sold as such or further refined for added value. Assays were performed by SGS Canada, an accredited and independent laboratory.
The test is part of a second campaign conducted on the Samapleu flotation concentrate of polymetallic nickel-iron-copper-cobalt sulphide under the terms of the agreement signed with CVMR (reference Sama’s press release dated June 8, 2017).
The testing was conducted using five kilograms of sulfide concentrate, which was produced from Samapleu mineralized material by the Centre de Technologies et de Plasturgie (“CTMP”), Tedford Mines, Canada. Sama supplied five kilograms of concentrate to CVMR, out of which 1.3 kilograms was treated thought CVMR’s carbonylization process to produce nickel and iron metal powder.
CVMR will be conducting additional metallurgical testing in which operating parameters will be optimized to improve recoveries. The final products, metal powders, which currently hold a substantial premium above the current LME prices, will provide Sama with a market advantage and growth opportunity not previously available.
The geological formation of the Samapleu deposit is ideally suited to CVMR’s nickel and iron powder production technology. The manufacture of metal components and additives has undergone a paradigm shift in the past ten years as 3D printing and metal injection moulding are replacing many other manufacturing methods. Accordingly, the demand for nickel and iron powders is increasing at a rate greater than previously forcasted.
A Proven Process with In-Demand Products
Global nickel carbonyl powder production capacity is approximately 37,000 metric tons per year, with the main producers being Vale (Inco) in Canada and Wales, Jilin Jien, and Jinchuan in China, Norilsk in Russia and CVMR in Canada. Iron powder production capacity is reported to be around 29,000 metric tons per year, with BASF of Germany being the largest manufacturer followed by Ashland in USA, Sintez in Russia, CVMR in Canada and Jilin Jien in China.
Readers are invited to visit CVMR’s website at: http://www.cvmr.ca.
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.
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.
Certain statements in this press release may be forward-looking. Such statements include those with respect to the constructions of the Plants and the anticipated benefits of the Licensor to Sama. Although the Company believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurances that its expectations will be achieved. Such assumptions, which may prove incorrect, include the following: (i) the parties will successfully negotiate a project construction agreement, (ii) the construction of the Plants will not encounter any legal, technical or other obstacle that will delay or otherwise make that construction unfeasible, (iii) Sama will obtain any required TSXV approval for the issuance of common shares to CVMR®, (iv) the patents licensed to Sama are in good standing and will remain so, (v) CVMR® will at no time be unable or unwilling to perform its contractual obligations under the License or any other agreement entered into between the parties, (vi) the technology licensed to Sama will produce the desired results and perform as anticipated, and (vii) the price of nickel will remain sufficiently high and the costs of advancing the Company’s projects sufficiently low so as to permit Sama to implement its business plans in a profitable manner. Factors that could cause actual results to differ materially from expectations include (i) CVMR’s inability or unwillingness to fulfill its contractual obligations, in whole or in part, (ii) the failure of the construction of the Plants, for technical, legal, logistical, labour-relations or other reasons, (iii) deficiencies arising in the patents licensed to Sama under the License, (iv) the licensed technology failing to perform as anticipated for whatever reason, (v) the Company’s inability to obtain any necessary TSXV approval for the issuance of shares to CVMR®, (vi) a decrease in the price of nickel below what is necessary to sustain the Company’s operations, (vii) an increase in the Company’s operating costs above what is necessary to sustain its operations, (viii) accidents, labour disputes or the materialization of similar risks, (ix) a deterioration in capital market conditions that prevents the Company from raising the funds it requires on a timely basis and (x) generally, the Company’s inability to develop and implement a successful business plan for any reason. A description of other risks affecting Sama’s business and activities appears under the heading “Risks and Uncertainties” on pages 31 to 33 of Sama’s 2016 annual management’s discussion and analysis, which is available on SEDAR at www.sedar.com. No assurance can be given that any events anticipated by the forward-looking information in this press release will transpire or occur, or if any of them do so, what benefits that Sama will derive therefrom. In particular, no assurance can be given as to the future financial performance of Sama. Sama disclaims any intention or obligation to update or revise any forward-looking statements in order to account for any new information or any other event, except as required under applicable law. The reader is warned against undue reliance on these forward-looking statements.
FOR FURTHER INFORMATION, PLEASE CONTACT:
SAMA RESOURCES INC./RESSOURCES SAMA INC.
Dr. Marc-Antoine Audet, President and CEO
Tel: (514) 726-4158
Mr. Matt Johnston, Corporate Development Advisor
Tel: (604) 443-3835
Toll Free: 1 (877) 792-6688, Ext. 5