07 February 2014 22:31 [Source: ICIS news]
HOUSTON (ICIS)--Canadian fertilizer firm Arianne Phosphate confirmed on Friday that the exploration drilling work for its potential Lac a Paul phosphate project in Quebec commenced this week and will continue through the end of March.
The company is developing the Lac a Paul deposits, where it expects to eventually recover phosphate as early as 2016. Officials said the drilling programme is another step in achieving the objective of increasing the mineral resources and extending the operational life of the project.
Current estimates for the site have determined there are approximately 590m tonnes of phosphate resources, which grade at 7.1% phosphorus pentoxide (P205). The company said its studies show the resources will support a minimum mine life of 25.75 years.
Arianne said the drilling programme will test mainly the western extension of the Lac a Paul zone, which has not yet been drilled, and to test the depth potential of the adjacent TraMan zone. Officials said there is a strong magnetic anomaly on the TraMan site, similar to the one defined on the Lac a Paul zone.
In the summer of 2013, more than 200 samples were collected during a surface exploration programme from the TraMan zone, with 110 of the samples returning values greater than 5% P2O5 with 18 samples having values greater than 8% P2O5.
“We are already aware of the excellent economics of the Lac a Paul project and of its exceptional P2O5 potential. Accordingly we are confident that the results of this drilling programme will further increase the property’s major mineral resources and significantly extend the life of our world-class project,” said Brian Kenny, Arianne CEO.
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