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Sama Resources Signs Strategic Partnership Agreement with CVMR for Samapleu Property
MONTREAL, QUEBEC--(Marketwired - June 8, 2017) - Sama Resources Inc. ("Sama" or the "Company") (TSX VENTURE:SME) announces that the Company has signed a Technol
About this update from Sama Resources Inc.
[{"type":"text","content":"MONTREAL, QUEBEC--(Marketwired - June 8, 2017) - Sama Resources Inc. (\"Sama\" or the \"Company\") (TSX VENTURE:SME) announces that the Company has signed a Technology License Agreement (\"License\") with Canadian-based CVMR Corporation (\"CVMR\" or the \"Licensor\"). Under the terms of the agreement, CVMR grants Sama use of its technology to refine the mineralized material from the Samapleu property in Ivory Coast, West Africa, to produce nickel and iron powders. At present, prices payable for nickel powders treated using CVMR's technology are at a significant premium above the current LME prices for nickel, providing Sama with a market advantage and growth opportunity not previously available. CVMR initiated a pilot program in March 2017 with a 260-gram concentrate of mineralized material from Samapleu. The concentrate graded 3.01% copper, 2.30% nickel and 25.90% iron. Preliminary results indicate a 91% and 92% recovery rate for the nickel and the iron, respectively. \"The partnership with CVMR will enable Sama to complete technical studies for a proposed open pit operation at Samapleu with higher returns compared to a simple flotation process,\" said Dr. Marc-Antoine Audet, P.Geo, President and Chief Executive Officer, Sama Resources. \"We expect to complete the Samapleu feasibility study by year-end 2017.\" \"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 more rapidly than most optimistic forecasts. Sama Resources is well positioned to take advantage of this major shift in the manufacturing industry,\" said Kamran M. Khozan, Chairman and Chief Executive Officer, CVMR (http://www.cvmr.ca). The Licensor authorizes Sama to use CVMR's patents and technology to operate nickel and iron powder manufacturing plants in the Ivory Coast (the \"Plants\"), to be built, commissioned and delivered on a turn-key basis by CVMR, following a positive feasibility study. The Plants will be dedicated to the production of metal powders used in a variety of products and manufacturing processes, including: 3D printing ...