Saguenay, March 22, 2010–The management of Arianne Resources Inc. (« Arianne » or « Company ») is pleased to provide an updated resource estimate for its Lac à Paul phosphate-titanium deposit in Saguenay-Lac-St-Jean, Quebec, Canada.
This update follows the recently completed definition drilling campaign on the Paul Zone. The other mineralized zones of the property were not targeted in this drilling campaign. The Paul Zone total resource is now being increased to 136.59 Mt, from the previous 99.3 Mt. More importantly, 78 Mt has now been upgraded to indicated resources. During this last campaign, drill holes were 240 m deep and the mineralized zone is still open at depth. The new resource estimate is described as follows (cut-off grade at 2% P2O5) :
- PaulZone :
- Indicated Resources : 78.34 Million tons at 7.24 %P2O5 and7.84 % TiO2
- Inferred Resources : 58.25 Million tons at 6.97 % P2O5 and8.00 % TiO2
- Manouane Zone :
- Inferred Resources : 137.65 Million tons at 5.71 %P2O5 and8.92 % TiO2
- Zone2 :
- Inferred Resources : 64.25 Million tons at 4.54 % P2O5 and4.56 % TiO2
Furthermore, the resulting concentrate (igneous phosphate) from this resource contains 39%P2O5and is higher grade than most other concentrates (sedimentary phosphate) currently on the market that grade on average, 30% P2O5.
Arianne will attend the International Phospates Conference 2010 in Brussels, March 22 to 24, in order to market our deposits to companies that are always looking for low cost raw materials.
This resource estimate is compliant with National Instrument 43-101 and was performed by SGS-Geostat Ltd. It will be included in an updated version of the Scoping Study that will be filed within 45 days by IOS Services Géoscientifiques inc. This press release was read and approved by Réjean Girard, Geo, President of IOS Services Géoscientifiques inc. and independent Qualified Person under NI 43-101.
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