Arianne Phosphate (TSXV:DAN,FWB:JE9N,OTCBB: DRRSF) announced the addition of 78 million tonnes at 5.34 percent P2O5 inferred at 3.5% P2O5 cut-off grade to its mineral resource estimates. Furthermore, Arianne has identified a new potential target of between 260 – 390 million tonnes with grades ranging from 5.34 percent to 7.13 percent P2O5.
As quoted in the press release:
The potential quantity and grade of the target is conceptual in nature as there has been insufficient exploration to define a mineral resource. It is uncertain if further exploration will result in the target being delineated as a mineral resource. As per Feasibility Study at the Lac à Paul Project (released October 24, 2013), the Paul deposit alone currently has proven and probable reserves of 472 million tonnes of ore at 6.90% P2O5 and is projected to have a mine life of roughly 26 years. The indication of an additional 78 million tonnes of inferred resources at Nicole along with the potential target of between 260 and 390 million tonnes could be of significant benefit to Arianne’s operations and deserves additional investigative work.
Arianne CEO, Brian Kenny, said:
We are very excited about the additional inferred mineral resources in Nicole and the new potential target which has been identified. We are also anxious to understand how beneficial the overall impact of these finds may be to our Company given that these zones lie between our Paul and Manouane deposits. What we already know is that these additional inferred near-surface mineral resources in Nicole could further reduce the already low stripping ratio of our mining operation and thus improve the economics of the project as a whole. Nicole is ideally located right beside Paul and could allow seamless integration into our current mining plan put forth in our bankable feasibility study. Additional drilling will be required to upgrade these resources and incorporate them into the project mining plan.