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Sama Resources Announces Positive Preliminary Economic Assessment for Samapleu Project
Highlights Average annual production of 3,900 tonnes(“t”) of carbonyl nickel powder, 8,400 t of carbonyl iron powder and 14,100 t of copper concentrate over a 2
About this update from Sama Resources Inc.
[{"type":"text","content":" Highlights Average annual production of 3,900 tonnes(“t”) of carbonyl nickel powder, 8,400 t of carbonyl iron powder and 14,100 t of copper concentrate over a 20-year mine life Capital costs of $282 million (“M”) including contingency of $37 M Operational costs of $23.96/t milled Pre-tax Net Present Value (“NPV”) at 8% discount rate of $615M and internal rate of return (“IRR”) of 32.5% After-tax NPV at 8% discount rate of $391M and after-tax IRR of 27.2% MONTREAL, May 27, 2020 (GLOBE NEWSWIRE) -- Sama Resources Inc. (“Sama” or the “Company”) (TSX-V: SME OTC PINK SHEETS: SAMMF) is pleased to announce results of a Preliminary Economic Assessment (“PEA”) for the development of its Samapleu Nickel-Copper project located in Ivory Coast, West Africa. The PEA was prepared by DRA Global’s office, in Montreal, Canada through DRA Met-Chem (“DRA”). All dollar figures are in United States dollars. “These results highlight the value of the Samapleu Nickel-Copper asset for the company,” said Dr Marc-Antoine Audet, President and Chief Executive Officer of Sama Resources. Dr. Audet added, “That said, the Sama-HPX team will continue with its exploration efforts aiming at delineating massive sulphide accumulation that could be the source of high-grade nickel, copper and palladium lenses intersected in drill holes at the Samapleu deposits.” Over the life of mine, the Samapleu project will produce an average of 3,900 t of carbonyl nickel powder, 8,400 t of carbonyl iron powder and 14,100 t of copper concentrate per year. Nickel and iron powders produced by CVMR®’s carbonyl process are used in batteries, 3D Printing, Metal Injection Moulding (MIM), aerospace and automotive parts manufacturing, medical instruments, computer parts, electronic parts, moulds and tools, super alloys and sophisticated shapes for use in the defence and aerospace industries. A technical report detailing the PEA and completed in accordance with National Instrument (NI) 43–101 guidelines, will be filed and available on SEDAR within 45 days from May 27, 2020. The effective date of the technical report is May 22, 2019. The effective date of the Mineral Resources is October 26, 2018. The PEA completed for the Company is preliminary in nature and includes inferred mineral resources, considered too speculative in nature to be categorized as mineral reserves. Mineral r...