Thursday, 7 June 2012

Eagle Star Minerals identifies mineralized phosphate package at least 7 metres thick at Canabrava Block

Eagle Star Minerals Corp. (CVE:EGE) said Thursday it has found a mineralized phosphate package of at least 7 metres in thickness within the Canabrava block at its Ruth project in Brazil.
The mineralization, which extends laterally over 13 kilometers, was identified through follow-up sampling of the best results obtained in a regional reconnaissance program announced last year.
The package is still open at depth, Eagle Star said, with its team currently in the process of outlining drill targets and detailing a systematic drilling campaign that will determine the depth extent.
"A mineralized package of this size, containing grades of up to 12% and extending laterally over a long distance (13 kilometers long), could be significant especially when considering its proximity to the main agricultural districts of Brazil," said Eagle Star board member, Dr. Guimarães Campos.
The area is located less than 20 kilometres to the north of Picos, the third largest city of Piauí State, Brazil. It shares the same infrastructure as the other concession blocks of the Ruth project, including close proximity to large agricultural centers and railroads.
The Canabrava block is 100 per cent owned by Eagle Star, and covers 23,169 hectares across 12 claims.
The regional program carried out at the block generated 28 chip samples, the results of which, as high as 5.84% phosphate, "encouraged" the company to conduct channel sampling.
The follow up campaign generated 87 channel samples, and 3 chip samples. Channel sampling was carried out over the 13 kilometres in which the package outcrops, the company said.
As seen in the first batch of results, with 49 still pending, the individual phosphorite layers vary in grade from 4.5% and reach up to 12% P2O5, while the channel samples (phosphorite + siltstone) at 1 meter basis reached up to 3.8% P2O5.
Due to the significant differences in hardness, density and P2O5 content between the phosphorite and the siltstone, Eagle Star said it will carry out tests to verify the possibility of separating the material in the early stages of beneficiation in an effort to upgrade the ore.
Tests will also be conducted to study the possibility of using the siltstone as natural fertilizer.
In parallel, the company plans to continue field work through pit opening to obtain comparative results to the channel sampling.
The material excavated will then be bulk sampled at every metre and channel samples from each wall of the pit will be collected to confirm lateral continuation of phosphate content.
The company said the results from channel sampling thus far, and the possibility of upgrading the material has encouraged it to start preliminary separation experiments, as well as solubility tests of the phosphorite.
"While the separation process should reduce resources, it will also increase considerably, the grade and homogeneity of the material fed to the beneficiation plant," Eagle Star said in a statement.
Dr. Campos added: "Assuming we are able to prove the feasibility of the proposed separation process then we might just have in our hands a very lucrative opportunity from an economic standpoint.
"We are very excited."
Eagle Star Minerals Corp. is focused on the agro-mineral properties in Brazil.
In February, the junior explorer refocused its strategy on phosphate exploration in Brazil.
The company was initially focused on developing an iron ore project in Brazil but it took note of a significant lack of domestic supply of fertilizer commodities in the nation and opted to reposition itself.
Helped by senior advisors and a local geological team, the company identified and staked areas with significant potential to host large phosphate deposits. Phosphates are a key ingredient for inorganic fertilizer.
Eagle Star was drawn to a property in the region of Piauí state covered by the Pimenteiras Formation (Parnaiba Basin). Three sub areas of the Parnaiba Basin were identified with rock types carrying phosphate mineralization, leading the company to acquire the Ruth Project.
Ruth is located in the center of Piauí state, near the cities of Picos and Eliseu Martins. Within Ruth’s claims boundaries lay widespread phosphate bearing rock types, which are believed to host a large phosphate deposit.
The project is in the vicinity of a large agricultural center while also surrounded by favorable infrastructure.

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