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Verdant Minerals Ltd.
Summary
| Project: | Ammaroo | |
|---|---|---|
| Deposit: | Rockhole | |
| Location: | Australia | |
| Commodities: | Phosphate | |
| Date: | 8/7/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 7-8-2017: Verdant Minerals Ltd. announces an Exploration/Drilling Update report for its Rockhole deposit at the Ammaroo project. Drilling results incl. 16m @ 25.3% P2O5 from 25m. Verdant Minerals Ltd is pleased to announce an independently assessed Explor | |
| Resources: | (Resource, Total): 1.141Bt @ 14% P2O5, 6.5% Fe2O3 at project | |
| CP/QP: | [Overall Report]: Jonathon Abbott (MPR Geological Consultants Pty Ltd.) | |
| ABSTRACT: | Verdant Minerals Ltd is pleased to announce an independently assessed Exploration Target for its Rockhole Phosphate Prospect of approximately 40 Mt to 70 Mt at 17% to 24% P2O5 at a cut-off grade of 10% P2O5 or approximately 30 Mt to 50 Mt at 20% to 27% P2O5 at a cut-off grade of 15% P2O5. These estimates are based on broad-spaced drilling information of uncertain reliability. The potential quantities and grades are conceptual in nature. There has been insufficient exploration to estimate a Mineral Resource and it is uncertain that future exploration will result in estimation of a Mineral Resource. The Exploration Target estimates are based on results of exploration RC drilling undertaken by Verdant Minerals in May and June 2017. Table 1 presents significant intercepts from this drilling calculated at 10% P2O5 cut off, with a minimum length of 2 m, maximum of 1 m continuous internal dilution and a minimum intercept grade of 10%. The high-grade mineralised intercept in hole RHRC053 in the far northeast of the current study area is comparable with some of the previous high-grade intercepts achieved elsewhere in the Ammaroo Phosphate Project using the criteria shown in Table 2 below. The Ammaroo holes form part of the main Ammaroo Resource as discussed below and most recently reported to the ASX on 15 March 2017. It has not changed since. There is no gridded drilling nearby RHRC053 (Figure 2), and further drilling is required to investigate potential continuity of high grade mineralisation in this area. | |
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