Eagle Star Minerals Corp. (CVE:EGE)(PINKSHEETS:ELGSF) Thursday said that recent channel sampling results confirm phosphate mineralization at the Canabrava block at its Ruth project in Brazil.
The mineralization ocurred within the previously announced 7-meter
mineralized package over the 15 kilometers outlined strike area. Results
for an additional eight points are still pending, Eagle Star Minerals
Some of the composite interval channel sample results released today
include up to 4.0 metres at 2.77% P2O5, including 3.0 metres at 3.17%
"The team is now eagerly awaiting results from the chemical and
metallurgical tests," Eagle Star's COO, director and phosphate expert
Jose Eloi Guimares Campos said.
"The combination of positive results from these tests with the
information already available on the extent of the mineralized package
will confirm that we have discovered a package of significant volume and
grade that could be further expanded by way of drilling and could be
The Canabrava Block is 100 per cent wholly-owned and covers 40,678 hectares across 23 mineral claims.
The company said that the area is located less than 20 kilometres to
the north of Picos, the third largest city in Piaui State, Brazil.
The city is at the center of the state and benefits from good
infrastructure including close proximity to large agricultural centers
and railroads, Eagle Star noted. The Bocaina dam, located at the heart
of the concession block, can supply water for the future beneficiation
Chemical and metallurgical tests with an objective to determine
solubility are currently taking place, and results from the chip samples
that are representative of the mineralized rock types are expected by
The company said the potential outline of mineralization extends over
at least 15 kilometres in strike and is supported by the spatial
distribution of the composite results from channel sampling.
The fact that the rock types are stratified and horizontal by nature,
and considering that the composite results occur within a topographic
interval up to 100 meters, the possibility of having successive packages
(with different thicknesses and grades) is believed to be highly
likely, Eagle Star said.
The geology and the characterization of the elements uncovered thus
far that control the mineralization at the site are supporting the
genetic model that has been developed by the company's technical team,
Eagle Star Minerals is focused on the acquisition, exploration and development of agro-mineral properties in Brazil.
Late last month, the company inked a deal to acquire the Bomfim
agro-mineral project in Brazil, which is located 20 kilometres away from
MBAC Fertilizers' (TSE:MBC) Itafos Arraias property.
Bomfim is located in the southern most part of the Tocantins state,
along the same phosphate mineralized trend in which MbAC holds the
The region is considered to be the new phosphate belt of Brazil and has seen action with majors such as MBAC, Vale, Votorantim and Bungee.
Eagle Star said all exploration permits, for 30,922 hectares across 4
claims, as well as licenses, are already in place. An aggressive
exploration program has been outlined with the aim to define an NI
43-101 measured and indicated resource as soon as possible.