Saguenay, December 17, 2010. Arianne Resources Inc. (the “Company”) is pleased to report that the pre-feasibility study on the Lac à Paul Phosphorus-Titanium Project, in Quebec, Canada, will begin in January 2011 and will be conducted by Met-Chem Canada Inc (Montreal, Qc).
Moreover, the Company has recently completed its definition drilling program on the Paul Zone. All samples were sent for preparation to IOS laboratories in Chicoutimi, and will be shipped to ALS Chemex analytical laboratories in Val-d’Or. Assay results are expected toward the end of January. This latest drilling campaign has clearly demonstrated that the Paul Zone extends to at least 400 metres vertical depth and remains open.
Management is also pleased to report that a new definition drilling program on the Manouane Zone is set to begin in February 2011. This drilling campaign is designed to convert part of the inferred resources into indicated resources, and to test the lateral extensions of this deposit, which contains, according to the latest NI 43-101 resource estimate (SGS Canada Inc, 2010), an inferred resource of 137.65 Mt grading 5.71% P2O5 and 8.92% TiO2 based on a cut-off grade of 2%. A new resource calculation (SGS Canada Inc) for the Paul and Manouane zones will be included in the pre-feasibility study, which will therefore consider a mining project with a mine life of at least 25 years.
Finally, the Company is pleased to announce it has entered an agreement with COREM (Quebec) to obtain 800 kg of apatite concentrate from the Paul Zone. COREM, a consortium of applied research for the treatment and processing of mineral substances, has been commissioned to develop the apatite recovery process via a pilot plant. Tests to determine the Bond work index and an ore liberation study will also be carried out. This work is expected to be finalized in May of 2011. The results of this metallurgical testing will also be included in the pre-feasibility study.
This work will enable the Company to ship high-quality concentrate to waiting clients. Note that phosphate production in North America is declining, and the start-up of production at this mining project would represent a great opportunity to offset a future drop in fertilizer supply.
The Lac à Paul Property consists of 271 claims covering more than 15,000 hectares, where three mineralized zones have been the focus of intensive exploration. To date, the Paul, #2, and Manouane zones contain an aggregate inferred resource of 260.25 Mt grading 5.7% P2O5 and 7.64% TiO2 and an indicated resource of 78 Mt grading 7.24% P2O5 and 7.84% TiO2 (cut-off grade at 2%).
Arianne Resources (www.arianne-inc.com) is a Canadian exploration company whose mission is to explore and develop gold, silver, phosphorus and titanium in Canada and Mexico. Arianne has 48 M shares outstanding. Canada Phosphate (www.canadaphosphate.com) is Arianne’s wholly-owned subsidiary that is developing the Lac à Paul phosphorus-titanium deposits to produce a superior grade apatite concentrate grading close to 40% P2O5.
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