Strata Minerals Inc. (TSXV:SMP) released results from its 2014 exploration program at its Diamond Mountain phosphate project in Uintah county, Utah. Norwest Corp. is currently conducting geologic modelling work on the resource at Diamond Mountain, and will also complete an initial NI 43-101 resource estimate.
As quoted in the press release:
Assay results have been received from the nine holes that intercepted the zone of phosphate mineralization. The assay work was completed by SGS North America at its certified laboratory in Denver, Colo. Assays were completed using XRF analysis for phosphorus pentoxide (P2O5), and for a full suite of metal oxides and related compounds. Phosphate (P2O5) grades for the mineralization zone intercepts range from 17.2 per cent to 22.7 per cent with an average of 19.6 per cent. The phosphate mineralized zone extends for approximately four kilometres along strike and an average thickness of approximately 4.7 metres.
Strata Minerals president and CEO, Jason Bahnsen, said:
The assay results provide further confirmation of the target 53-million-tonne (20 per cent average P2O5) historic phosphate resource defined by U.S. Steel in the 1960′s and we anticipate releasing the initial NI 43-101 resource report on the project by the end of September, 2014, and subsequently completing phase I to earn an initial 51-per-cent interest in the Diamond Mountain mineral leases.