– Additional inferred resource (1) of 17 million tonnes at 5.98 P2O5 from Traverse zone –
SAGUENAY, QUEBEC – (July 16, 2014) – Arianne Phosphate (the “Company” or “Arianne”) (TSX VENTURE: DAN) (FRANKFURT: JE9N) (OTCBB: DRRSF), a development-stage phosphate company advancing the Lac à Paul Project in Quebec, is pleased to report the addition of 146 million tonnes at 5.30% P2O5 with a 3.5% P2O5 cut-off grade from the South TraMan Zone in the inferred category to its mineral resources. In addition, the Company has identified a new inferred resource from the Traverse zone of 17 million tonnes at 5.98% P2O5 at 3.5% P2O5 cut-off grade.(1)
The indication of this additional 163 million tonnes at 5.37% P2O5 of inferred resources at the South TraMan and the Traverse Zones along with the 78 million tonnes at 5.34% P2O5 of inferred resource at Nicole Zone and a mineral potential target of between 260 and 390 million tonnes, with grades ranging from 5.34% to 7.13% P2O5, near the Paul Zone (press released May 15, 2014)(1)could be of significant benefit to Arianne’s operations and deserves additional investigative work.
(1) Cautionary Statements: Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. That it is uncertain if further exploration will result to upgrade this inferred resource at indicated and measured resource. The potential quantity and grade reported as Mineral Potential, is conceptual in nature, that there has been insufficient exploration to define a mineral resource and that it is uncertain if further exploration will result in the target being delineated as a mineral resource.
As per the Feasibility Study at the Lac à Paul Project (released October 24, 2013), the Paul deposit alone currently has proven and probable reserves of 472 million tonnes of ore at 6.90% P2O5 and is projected to have a mine life of roughly 26 years.
“The results from our TraMan drilling program in winter 2014 and Traverse program in 2011 brings us one step closer to achieving our goal of a 50-year mine life at our world-class Lac à Paul Project,” (2) stated Brian Kenny, Chief Executive Officer at Arianne Phosphate. “While additional drilling will be required to upgrade these resources and incorporate them into the project mine plan, the results are encouraging and demonstrate Lac à Paul’s potential as one of the world’s largest greenfield phosphate projects.”
(2) Cautionary Statements: The 50 years target is conceptual in nature, that there has been insufficient exploration to define an indicated and measured mineral resource to that size and that it is uncertain if further exploration will result in the target being delineated as an indicated and measured mineral resource. The 50 years target is based on 472 Mt in reserve and other resources on the project (released 24 October 2013) and the other resources and potential targets (released 15 May and 12 June 2014).
Description of Additional Mineral Resources
The South TraMan Zone (which takes its name from its location between the Traverse and Manouane zones) is located at about 8.5 km south-south-east of the Main Paul zone (see figure attached). The mineral resource estimation has been done using diamond drill holes, density core measurements, the LIDAR 3D topographic survey and the high resolution airborne magnetic geophysical survey (HeliMAGerTM), which was completed in February 2014 by Géophysique GPR International Inc., using the first primary derivative for contact and extent.
Inferred Mineral Resources of the South TraMan Zone
Inferred Mineral resources above 3.5% P2O5. Note that mineral resources are not mineral reserves. Using a density of 3.4 T/m3
The Traverse Zone, which is different than the TRAMAN zone, is located just to the west of the South TraMan Zone (see figure attached). The mineral resource estimation has been done using the 2011 campaign diamond drill holes, the LIDAR 3D topographic survey and the high resolution airborne magnetic geophysical survey (HeliMAGerTM), which was completed in February 2014 by Géophysique GPR International Inc., using the first primary derivative for contact and extent.
Inferred Mineral Resources of the Traverse zone
Inferred Mineral resources above 3.5% P2O5. Note that mineral resources are not mineral reserves. A fixed Density of 3.4 T/m3is used.
Inferred Mineral Resources of the South TraMan and Traverse Zones
|Zones||P2O5 %||TiO2 %||Tonnes (rounded numbers)|
Inferred Mineral resources above 3.5% P2O5. Note that mineral resources are not mineral reserves.
Data used for the estimation:
- Eighteen (18) diamond drill holes on TraMan (TRM-14-01 to -18);
- Total drilled length on TraMan of 4,165 meters;
- 1,571 assay results for %P2O5, %TiO2, %SiO2, %Fe2O3, %AL2O3, %CaO, %K2O, %Na2O, %MnO & %MgO;
- 1,163 deviation data; and,
- 213 lithological description records.
- Six (6) diamond drill holes on Traverse (TRA-11-01 to -06);
- Total drilled length on Traverse of 954 meters;
- 341 assay results for %P2O5, %TiO2, %SiO2, %Fe2O3, %AL2O3, %CaO, %K2O, %Na2O, %MnO & %MgO;
- 16 deviation data; and,
- 24 lithological description records.
Parameters of the estimate are:
- Composites of 3 meters;
- The average of the measured density of the TraMan zone is 3.5 but we still use 3.4 for the mineral resource estimation in a conservative approach;
- Square blocks of 10 x 10 x 10 meters; and,
- There are (4) four 3D mineralized envelopes for the South Traman Zone and (3) three 3D mineralized envelopes for the Traverse Zone.
Estimated in one single run inverse square of the distance with an ellipsoid of 350 x 350 x 75m with the long axis along strike intermediate dip wise at minus 70 degrees to the north east.
The diamond drill holes combined with the magnetic geophysical survey has allowed GoldMinds Geoservices Inc., independent consultant, to prepare the first mineral resources at South TraMan and Traverse Zones. The following figures present the correlation and coincidence.
QA/QC procedures included blanks and standards and are in line with expected values. This allows the disclosure of the first mineral resources in the South TraMan and Traverse Zone.
Mr. Claude Duplessis, ing. GoldMinds Geoservices Inc. Independent Qualified Person as per NI 43-101, has prepared the mineral resources and evaluation of the potential and is responsible for the technical information presented in the release.
Mr. Daniel Boulianne, P.Geo., Arianne V.P. of Exploration Qualified Person as per NI 43-101, has approved this press release.
About Arianne Phosphate
Arianne Phosphate (“Arianne Phosphate Inc.”) (www.arianne-inc.com) is developing the Lac à Paul phosphate deposits located approximately 200 km north of the Saguenay/Lac St. Jean area of Quebec, Canada. These deposits will produce a high quality igneous apatite concentrate grading 39% P2O5 with little or no contaminants. The Company has 87.2 million shares outstanding.
Neither 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.
Source: Brian Kenny, CEO Tel: 514-699-7436 email@example.com
Info: Derek Lindsay, CFO Tel: 514-594-2372 firstname.lastname@example.org
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Forward Looking Statements and Information
This news release contains “forward-looking statements” and “forward-looking information” within the meaning of applicable securities regulations in Canada and the United States (collectively, “forward-looking information”). The forward-looking information contained in this news release is made as of the date of this news release. Except as required under applicable securities legislation, the Company does not intend, and does not assume any obligation, to update this forward-looking information. Forward-looking information includes, but is not limited to, statements with respect to estimated mineral resources, anticipated effect of the completed drill results on the Project, and timing and expectations of future work programs. Often, but not always, forward-looking information can be identified by the use of words such as “plans”, “expects, “is expected”, “budget”, “scheduled”, “estimates”, forecasts”, “intends”, “anticipates”, or “believes”, or the negatives thereof or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might”, or “will” be taken, occur or be achieved. Any forward looking statement speaks only as of the date on which it is made and except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement.