DAN: TSX-V (Canada)
JE9N: FSE (Germany)
DRRSF: OTC BB (USA)
SAGUENAY, QC, Oct. 14, 2014 /CNW/ - 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's Saguenay-Lac-Saint-Jean region is pleased to report an updated resource estimate on its Paul Zone has amounted to 668 million tonnes at 7.01% P2O5 with a 4.0% P2O5 cut-off grade in the measured & indicated category. In addition, the Company has also identified a new inferred resource on the Paul Zone of 38 million tonnes at 6.13% P2O5 at 4.0% P2O5 cut-off grade.(2) This updated resources estimate, provided by GoldMinds Geoservices Inc., shows a 13% increase in measured and indicated resources (668 MT vs 590 MT) and resulted from the 2014 winter drilling program on the Paul Zone (Pau-14-154 to Pau-14-160) and on its Western Extension (Pau-14-161 to Pau-14-169).
"The continued growth of our resource is very exciting" stated Jean-Sebastien David, COO of Arianne Phosphate. "Of particular interest is the new resource shown in the Western Extension. It is located near the surface and is a real positive for us since it could reduce our stripping ratio and thus our operating costs (OPEX). Our team has been hard at work to define more mineralised targets near the Paul Zone so that we can achieve our stated goal of a 50 year mine life(3) at our world class Lac a Paul Project. To this end, Arianne recently concluded a 3 000 meter diamond drilling campaign on the eastern extension of the Paul Zone."
Location of the drill holes and the zones is shown on the following figures.
Current Mineral Reserves
The Paul Zone is the main zone of the Phosphate Lac à Paul Project. According to the Company's Feasibility Study (released October 24, 2013), the Paul deposit alone currently has proven and probable reserves of 472 million tonnes of ore at 6.90% P2O5 (cut-off grade of 3.5% P2O5) and is projected to have a mine life of roughly 26 years. The mineral resource estimate (released March 7, 2013) which was used to establish these reserves reported 590 Mt of measured and indicated resources at 7.13% P2O5 with a cut-off grade of 4% P2O5.
Description of the Updated Mineral Resources
The updated mineral resources estimate on the Paul Zone and its Western Extension has been done using diamond drill holes (Pau-08-01 to Pau-14-169), fixed density of 3.42 T/m3, the LIDAR 3D topographic survey, high resolution airborne magnetic geophysical survey (HeliMAGerTM), completed in February 2014, and variables search ellipsoid, with a steeply dipping to the south, following the axes defined by the magnetic survey, using the first primary derivative for contact and extent. Note that the holes are not still surveyed. It will be done after the next campaign.
Mineral resources estimate Paul Zone + Western Extension |
Density |
P2O5 % |
TiO2 % |
Tons |
Inferred |
3.42 |
6.13 |
6.31 |
37 850 000 |
Indicated |
3.42 |
6.83 |
7.25 |
348 150 000 |
Measured |
3.42 |
7.19 |
7.63 |
320 550 000 |
Indicated + Measured |
3.42 |
7.01 |
7.43 |
668 700 000 |
Mineral resource estimation of the Paul Zone and its Western Extension using a cut-off grade of 4% P2O5 *
Mineral resource estimate Paul Zone |
Density |
P2O5 % |
TiO2 % |
Tons |
Inferred |
3.42 |
5.69 |
5.78 |
28 600 000 |
Indicated |
3.42 |
6.80 |
7.23 |
332 250 000 |
Measured |
3.42 |
7.18 |
7.62 |
318 050 000 |
Indicated + Measured |
3.42 |
6.99 |
7.42 |
650 300 000 |
Mineral resource estimation of the Paul Zone using a cut-off grade of 4% P2O5 *
Mineral resource estimate Western Extension |
Density |
P2O5 % |
TiO2 % |
Tons |
Inferred |
3.42 |
7.51 |
7.93 |
9 250 000 |
Indicated |
3.42 |
7.53 |
7.77 |
15 900 000 |
Measured |
3.42 |
8.29 |
8.14 |
2 500 000 |
Indicated + Measured |
3.42 |
7.63 |
7.82 |
18 400 000 |
Mineral resource estimation of the Western Extension using a cut-off grade of 4% P2O5 *
* Note that tables above contain rounded numbers
Data used for the estimate:
Parameters of the estimate are:
QA/QC procedures included blanks and standards are in line with expected values.
(1) Cautionary Statements: Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.
(2) 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.
(3) 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 May 15th and June 12th of 2014).
Mr. Claude Duplessis, ing. GoldMinds Geoservices Inc. Independent Qualified Person as per NI 43-101, has prepared the mineral resources with assistance of Mr. Merouane Rachidi Ph D. Geo. Mr Duplessis 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 92.9 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.
Follow Arianne on:
Facebook: http://www.facebook.com/pages/Arianne-Resources-Inc/113071105425184
Twitter: http://twitter.com/arianne_dan
YouTube: http://www.youtube.com/user/ArianneResources
Flickr: http://www.flickr.com/photos/arianneresources
Resource Investing News: http://resourceinvestingnews.com/?s=Arianne
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.
Image with caption: "Figure I: Location of the drill holes done on the Paul Zone and its Western Extension during Winter 2014. (CNW Group/Arianne Phosphate Inc.)". Image available at: http://photos.newswire.ca/images/download/20141014_C1200_PHOTO_EN_6611.jpg
Image with caption: "Figure II: The Paul Zone and its Western and Eastern Extensions. (CNW Group/Arianne Phosphate Inc.)". Image available at: http://photos.newswire.ca/images/download/20141014_C1200_PHOTO_EN_6612.jpg
SOURCE: Arianne Phosphate Inc.
Contact Information: Source: Jean-Sébastien David, C.O.O., Tel: 418-549-7316, [email protected]; Info: Dino Fuoco, C.F.O., Tel: 514-945-9393, [email protected]; Media : Karyna Tremblay, Community Relations Coordinator, Tel. : 418-549-7316, [email protected]
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