Vancouver, British Columbia / ACCESSWIRE / November 21, 2014 / Strata Minerals Inc. (TSXV: SMP) ("Strata" or the "Company") is pleased to announce the identification of a high grade phosphate surface deposit at the Company's Diamond Mountain Project located in Utah.
Highlights
- Surface reconnaissance mapping of recently filed Phosphate Prospecting Permit Application ("PPPA") areas has identified five separate phosphate mineralization outcrop areas and a surface resource target.
- Three grab samples were collected from the most prominent outcrop of the PPPA areas and were analysed by the SGS laboratory in Denver, measuring 34.43%, 34.12% and 35.01% P(2)O(5)
As previously announced on November 7, 2014 (http://www.strataminerals.com/s/news.asp?ReportID=682440) Strata has acquired 98.7 hectares of private surface and mineral rights and has also applied for an additional 1,236.6 hectares of Phosphate Prospecting Permit Application areas (together referred to as "Diamond Mountain East"). Diamond Mountain East is contiguous with and extends to the south east of Strata's Diamond Mountain Project mineral tenure that was the focus of recent phosphate exploration drilling completed in July 2014 at the Diamond Mountain Plateau ("DMP") area. The total Diamond Mountain Project area (which includes the DMP area and Diamond Mountain East) controlled by Strata is now 5,444 hectares.
Following the successful delineation of 33.9 million tonnes of Measured & Indicated resources plus 27.1 million tonnes of inferred resources at the Diamond Mountain Plateau area (See Note 1 below), Strata has begun preliminary exploration work in the recently acquired Diamond Mountain East area to identify potential surface phosphate resources.
Strata Minerals commissioned Norwest Corporation ("Norwest") to complete field reconnaissance work in the Diamond Mountain East area. The surface reconnaissance mapping was successful in identifying several surface phosphate zones within the Diamond Mountain East tenement area.
The surface phosphate target area outlined in Figure 1 was determined from regional mapping by the Utah Geologic Survey (UGS) in 2006. The UGS projected the outcrop of the Park City formation and Weber Sandstone within the incised Diamond Gulch, approximately 10km east of Strata's current phosphate resource areas.
Figure 1 - Diamond Mountain East - Surface Mining Exploration Area
To view an enhanced version of Figure 1 - Diamond Mountain East - Surface Mining Exploration Area, please visit:
https://orders.newsfilecorp.com/files/2712/12657_strata1enhanced.jpg
The current surface reconnaissance mapping has identified five separate phosphate mineralization outcrop areas exposed along Diamond Gulch in the Diamond Mountain East tenement area. Geological modelling estimates of surface phosphate mineralization (applying a depth cut off of 75 metres) for each of the five identified outcrop areas vary from 0.3 million tonnes to 12.3 million tonnes with a total exploration target identified over the five outcrop areas of approximately 17 million tonnes. Please note the potential quantity and grade is conceptual in nature as there has been insufficient exploration to define a mineral resource. It is uncertain if further exploration will result in the target being delineated as a mineral resource.
Three grab samples were collected from the most prominent outcrop and were analysed by the SGS laboratory in Denver. The results positively identified the mineralization zone through significantly elevated P(2)O(5) grades as indicated in Table 1 below. The grab sample grades are significantly higher than the average grade of 20% P(2)O(5) for the mineralization zone as observed in the Strata's resource areas to the west. While the grab samples may not be fully representative of the entire mineralized zone, they do indicate the existence of phosphate mineralization with high-grade horizons occurring at surface in Diamond Mountain East.
Table 1 - Diamond Mountain East - Surface Mining Exploration Area
| Sample ID | P2O5 % |
MgO % |
Al2O3 % |
Fe2O3 % |
SiO2 % |
LOI % |
| EDM - 1 | 34.43 | 0.23 | 1.02 | 0.39 | 6.32 | 4.08 |
| EDM - 2 | 34.12 | 0.22 | 1.03 | 0.38 | 7.16 | 4.09 |
| EDM - 3 | 35.01 | 0.21 | 0.85 | 0.35 | 5.29 | 4.05 |
Strata President and CEO, Jason Bahnsen commented: "The identification of high grade surface phosphate mineralization at our Diamond Mountain East area is a key development and opens the potential for a near surface resource. East Diamond Mountain will be a focus of our 2015 exploration program with planning and permitting now underway."
Lawrence D. Henchel P.Geo., PG, Vice President Geological Services with Norwest Corporation, in accordance with NI 43-101, is the Qualified Person responsible for the technical content of this release and has reviewed and approved it accordingly. Mr. Henchel is an independent consultant contracted by the Company.
Note 1: As detailed in the completed NI43-101 compliant Technical Report (dated 14 October 2014), Norwest Corporation ("Norwest") estimated an initial Measured & Indicated resource of 33.9 million tonnes with an average grade of 19.75% P(2)O(5) and average ore thickness of 4.46 metres, plus Inferred resources of 27.1 million tonnes with an average grade of 19.72% P(2)O(5) and average ore thickness of 4.41 metres. The resource lies at depths below surface ranging from approximately 90 metres to 350 metres with an average dip from north to south of 8 degrees.
For further information, please contact:
Jason Bahnsen, President and CEO
Tel: +1 647 986 7542
Email: [email protected]
About Strata Minerals Inc. Strata Minerals Inc. is an emerging, phosphate focused, agricultural nutrient company exploring for commercial-scale phosphate rock mineralization deposits. Armed with the objectives of becoming a supplier to the US and global fertilizer industry and generating wealth for its shareholders, Strata is currently advancing its phosphate exploration projects in Utah, USA and in Western Australia, Australia. All references to the Company in this release include the Company's wholly owned Australian subsidiary, Strata Minerals Pty Ltd. For further information, please refer to the Company's website at http://www.strataminerals.com/. Additional disclosure of the Company's financial statements, technical reports, material change reports, news releases and other information can be obtained on SEDAR at http://www.sedar.com/.
Forward Looking Statements
This news release may contain forward-looking statements based on assumptions, uncertainties and management's best estimates of future events. Actual events or results could differ materially from the Company's expectations and projections. Investors are cautioned that forward-looking statements involve risks and uncertainties. Accordingly, readers should not place undue reliance on forward-looking statements. When used herein, words such as "anticipate", "will", "intend" and similar expressions are intended to identify forward-looking statements. For a more detailed discussion of such risks and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, refer to Strata's filings with Canadian securities regulators available on http://www.sedar.com/ or the Company's website at http://www.strataminerals.com/.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
SOURCE: Strata Minerals Inc.