Arianne Phosphate (TSXV:DAN,FWB:JE9N,OTCBB:DRRSF) announced that the latest results from its exploration drilling program on the western extension of the Paul Zone, has yielded positive results. Drilling has extended the zone by an additional 1.1 km along the strike. When added to the previously defined Paul Zone, this latter is now recognised on a 3.8 km strike length. Additionally, Arianne has completed its first stage of drilling at the TraMan Zone showing very promising initial results.
As quoted in the press release:
Based on the potential targets highlighted through an airborne magnetic survey, Arianne drill tested an area west of the current Paul Zone. All drill holes intersected mineralization and numerous holes returning results of higher than 7% P2O5 (see table below), extending the Paul Zone an additional 1.1 km strike length. As shown in the diagram(s) below, this western extension is directly adjacent to the Paul deposit which is currently capable of a 26 years life of mine, as defined in the Company’s BFS (released 24 October 2013). Arianne, over the coming weeks, will perform the required modelling work to more specifically estimate these new resources in the western extension of the Paul Zone.
Arianne CEO, Brian Kenny, said:
These results, taken in conjunction with the earlier potential targets (see the press release of May 15, 2014) are certainly showing the capability to increase the size of the asset. Given that the mineralised intersections are near-surface and continuous to the Paul Zone, we are confident that additional definition drilling should enable us to upgrade to a resource level and incorporate this into our projected mining plan. Already one of the largest green field phosphate deposits in the world, these results along with the initial drilling results on TraMan continue to move us towards our goal of finding additional phosphate mineralisation. Arianne’s exploration works continue to show the district-sized scale of the asset. This is a positive finding in pursuing the development of our target to obtain a mineral resource to support mining operations for fifty (50) years.
Potash West NL (ASX:PWN,OTCPINK:PWNNY) dominates mineral tenure in Western Australia, one of the world’s largest glauconite deposits, with 12 exploration licenses and applications covering an area of more than 2,600 km2.
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