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Harvest Minerals Ltd.
Summary
| Project: | Arapua | |
|---|---|---|
| Deposit: | Maximus | |
| Location: | Brazil | |
| Commodities: | Phosphate-Potassium | |
| Date: | 7/26/2016 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Scoping Study | |
| Report details: | 26-7-2016: Harvest Minerals Ltd. announces a Resource Estimation report for its Maximus deposit at the Arapua project. Independent JORC compliant Initial resource for Maximus target at Arapua project. Harvest Minerals Limited (AIM:HMI) is pleased to annou | |
| Resources: | (Resource, Ind.): 883Kt @ 4.21% K2O and 3.53% P2O5 at Maximus | |
| CP/QP: | [Resources]: Bernardo H C Viana (GE21 Consultoria Mineral) | |
| ABSTRACT: | Harvest Minerals Limited (AIM:HMI) is pleased to announce that an independent Indicated Mineral Resource estimate (Resource estimate) has been completed for the Company's 100% owned Arapuá Fertilizer Project (Project) in Minas Gerais State, Brazil. The Resource estimate, based on an air core drilling programme of only the weathered kamafugite, is JORC 2012 Compliant and is part of an ongoing technical report being compiled by GE21 Consultoria Mineral (GE21). The Company anticipates announcing the results of the GE21 technical report in the current quarter. The Company has conducted a drilling programme over an area covering approximately ~3% of the known mineralization not including the unweathered kamafugite underlying the resource. The rationale for the limited scope programme was to conserve cash and only identify sufficient resource for the immediate future. The results of the drilling programme support Manangement's view that the Company is advancing towards development of a valuable product. The limited scope drilling programme conducted at the Maximus target identified a JORC (2012) compliant total Indicated resource of 883Kt at 4.21% K2O and 3.53% P2O5 at a 3.5% K2O cut-off. In the drilled area there is an estimated additional exploration potential of 3.0Mt to 3.5Mt of ore with K2O grades of 2.7% to 3.5%, to the base of the weathered kamafugite. The resource includes 202Kt at 5.24% K2O and 3.29% P2O5 (higher K2O) and 160Kt at 4.01% K2O and 4.62% P2O5 (higher P2O5). Additionally, the total Indicated resource includes average grades of 6.34% CaO, 5.95% MgO, 0.33% MnO and 34.53% SiO2, which are important in developing a multi-nutrient direct application natural fertilizer (DANF). | |
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