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It now comes to 702.7 million tonnes at 7.16 percent P2O5 with a 4 percent P2O5 cut-off grade in the measured and indicated category.
Arianne Phosphate (TSXV:DAN,OTCBB:DRRSF) has been working to advance its Lac a Paul project in the Saguenay-Lac-St-Jean region of Quebec since global demand for fertilizer increased in 2008.
Most recently, the company released an updated NI 43-101 mineral resource estimate for the Paul Zone at its Lac a Paul project. It comes to 702.7 million tonnes at 7.16 percent P2O5 with a 4 percent P2O5 cut-off grade in the measured and indicated category.
The Paul Zone is made up of the Paul Eastern Extension and the Paul Western Extension. The former has a measured and indicated resource of 12.5 million tonnes at 6.31 percent P2O5 with a 4 percent P2O5cut-off grade, while the latter’s sits at 690.2 million tonnes at 7.18 percent P2O5 with a 4 percent P2O5 cut-off grade.
The report, released on Wednesday, also states that recent drilling indicates that the Mini-Paul Zone and the Naja Zone “show strong potential for phosphate occurrence.” Mini-Paul is located less than 300 meters south of the Paul Zone and is connected to a magnetic anomaly that is about 700 meters long and 60 meters wide. For its part, Naja is located southeast of the Paul Zone.
Future focus and goals
No word yet on what specifically the company’s next steps will be, but Jean-Sebastien David, COO of Arianne, does state in the release that the expansion of the Paul Zone shows that the company is making progress towards one of its goals, which is to “show a 50 year life of mine.” He also notes, ”[r]esults of our work clearly demonstrate the potential to extend the life of our project beyond our most optimistic estimates.”
Arianne’s share price closed Wednesday flat at $0.80.
Securities Disclosure: I, Kristen Moran, hold no direct investment interest in any company mentioned in this article.