Eagle Star Minerals (CVE:EGE) Tuesday announced its application the São Francisco Block, a new concession area within the Ruth Project.
area was identified through a regional recognition program that was
initiated based on the interpretation of results from trenching and
systematic channel sampling at the Paes Landin block.
located less than 50 km to the northwest of the Paes Landin block and
shares the same infrastructure of the other concession blocks, including
close proximity to large agricultural centers and railroads.
team is very pleased with the trenching results that have come back
from our Paes Landin block to date. They demonstrate that we are indeed
on track to identifying a phosphate deposit within the largest agrarian
country in the world," stated Eagle Star's president and CEO Eran
"We are equally excited with the new addition of
the Sao Francisco block. Our regional sampling results clearly
demonstrate the logic behind the claiming of this new area. We now look
forward to investigate in more detail the extensive outcrops we have
identified on that block as part of our effort to select the best
potential targets for a drilling campaign in Ruth."
application is approved, the São Francisco concession block will be 100
percent wholly-owned and cover 25,749 hectares across 13 claims. The
Ruth Project will constitute 65 tenements over 115,712 hectares (or 6
At the Paes Landin (Salvador Target)
trenching and sampling was carried out over different topographic
levels. 214 samples in 12 trenches (238 linear meters) were opened with
an excavator to create cuts up to two-meters depth.
suggest the presence of multiple mineralized packages based on a
collection of positive channel sample results at different topographic
Moreover, there are three main gaps within the potential
packages that were not covered by trenching and systematic sampling
(meter basis). Based on field evidence, it appears that the known
mineralized packages may be linked and extend laterally.
performed at the São Francisco trenches also helped to identify the
mineralized rock types (purple and grey siltstone) and suggested that by
targeting other areas, with different deposition conditions Eagle Star
could discover additional geological units with significant packages of
This realization led Eagle Star to perform
a new regional exploration program focusing this time on different
geological formations, where the mineralized rock types outcrop
extensively and are visible as a result of road cuts.
regional sampling program returned excellent results on different
topographic levels and provided a strong technical case for claiming the
São Francisco Block.
In light of these developments and based
on these results, Eagle Star Minerals has decided to proceed with the
next stage of exploration on the Ruth Project and is planning to carry
out a more intensive systematic channel sampling program to assist
diamond drill targeting.
During the next stage of exploration in
Ruth, Eagle Star is planning to dig manual pits in the Paes Landin block
to cover the gaps between the mineralized layers discovered in various
trenches. This will give the company a better idea as to how thick these
layers are, while selecting appropriate drill targets within the block.
In addition, the company is planning to perform extensive
channel sampling on road cuts and outcrops in the São Francisco block to
get more information on the minimum thickness of the visibly
mineralized phosphate layers on that block.
Eagle Star Minerals is focused on the acquisition, exploration and development of agro-mineral properties in Brazil.
the past two years, Eagle Star Minerals has strategically grown its
presence in Brazil and continues to focus on maximizing shareholder
value by acquiring assets located in geological areas known for proven
phosphate mineralization, coupled with good logistics in close proximity