TORONTO, May 31, 2013 /CNW/ - Strata Minerals Inc. (TSXV: SMP) ("Strata" or the "Company") is pleased to announce the latest set of results from the Company's Phase 1 exploration program at its 80% owned Cardabia Phosphate Project (the "Cardabia Project") located near Exmouth in Western Australia.
In total, 74 holes were drilled in the Phase I exploration program at the Cardabia Project. The Company submitted 70 of the 74 holes drilled for assaying. Two of the remaining four holes were not assayed as there were no indications of phosphate within core cuttings for these holes. The other two holes were not assayed due to issues in transport and handling. Drill hole assay results published by the Company are only for head grade samples extracted from the drill holes which registered for anomalous phosphate and were selected for sizing and further assay analysis.
Initial results from 5 drill holes at the Cardabia Project were announced on December 20, 2012 and results from a further 11 holes were announced on April 4, 2013. Included in this release are results from a further 44 holes. Results from the remaining 10 holes assayed are undergoing lab analysis and are expected to be published in the Company's final report on the Phase I program as referred to below.
An illustration outlining the location of all 74 holes drilled in the Phase 1 exploration program and the location of all 44 holes analyzed for the results published in this release is provided in Figure 1 below and is available on the Company's website at www.strataminerals.com.
Sizing and XRF assay sample results received for the 44 holes included in this release are provided in Table 1 below and is available on the Company's website.
A lithological interpretation of the 44 holes referenced above is presented in Figure 2 below and is available on the Company's website.
"All Phase 1 exploration results from the Cardabia Project, which the Company has released to date, consistently demonstrate the presence of a shallow sedimentary unit hosting P2O5 within mineralized zones totaling approximately 0.5-2.0 metres in thickness. The unit is observed to reach its easterly extent and outcrop along a northeast-southwest trend of some 20 km in the southeastern section of the Cardabia tenements, and dips gently to the northwest. In head grade samples with sufficient mass to the +1mm fraction, the coarse material averaged 19.9% P2O5 for all results published to date", said Peter Kozicz, President & CEO. "The results further show that not all of the samples analyzed from the Phase 1 lab work upgrade consistently. The Company expects to better understand this behaviour with further metallurgical testing."
Strata Minerals expects to finalize and publish its final interpretation and conclusions on the Phase 1 exploration program at Cardabia before the Company's year-end in June. This report will include the results of the previously announced QEMSCAN metallurgical test work and preliminary geological modelling, as well as the Company's plans regarding future exploration at Cardabia.
The Company previously announced plans to extract a two tonne bulk sample from Cardabia for the purposes of larger scale metallurgical testing. With a view to the careful management of its financial resources at the present time, the Company now intends to defer the bulk sample pending results of the QEMSCAN test work and a comprehensive prioritization of further exploration activities at Cardabia.
This news release was authorized by Darryl Mapleson who is a Fellow of the AusIMM and a Qualified Person as defined by National Instrument 43-101. Mr. Mapleson has reviewed the preparation of the scientific and technical information in this release.
About Strata Minerals Inc.
Strata Minerals Inc. is an emerging, Australasia focused, agricultural nutrient company exploring for commercial scale phosphate rock mineralization deposits. Armed with the objectives of becoming a supplier to the global fertilizer industry and generating wealth for its shareholders, Strata is currently advancing its phosphate exploration projects in Western Australia and Queensland and intends to broaden its focus to other agricultural nutrients including potash and lime. 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 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 www.sedar.com.
Special Note Regarding Forward-Looking Statements
Certain statements included herein constitute forward-looking statements. The words "expect", "intend", "anticipate", "propose" and "may" and similar expressions identify forward-looking statements. Forward-looking statements include, among other things, statements regarding exploration results and the development and operation of Strata's mineral properties. Forward-looking statements are necessarily based upon a number of estimates and assumptions. While such estimates and assumptions are considered reasonable by the management teams of Strata, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks and accordingly may not occur as described herein or at all. Investors are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements.
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.
|STRATA MINERALS INC.||P2O5 Grade by Sized Fraction Assay Upgrade|
Phase 1 Exploration Program Additional Results
(May 31, 2013)
-1 mm to +
|CBAC001||Occures NE of Anticline with no significant P205 Grade|
|CBAC003||Occures NE of Anticline with no significant P205 Grade|
|CBAC004||Occures NE of Anticline with no significant P205 Grade|
|CBAC017||Occures NE of Anticline with no significant P205 Grade|
|CBAC018||Occures NE of Anticline with no significant P205 Grade|
|CBAC024||Occurs East of Anticline with no significant P2O5 Grade|
|CBAC028||Occurs East of Anticline with no significant P2O5 Grade|
|CBAC029||Occurs East of Anticline with no significant P2O5 Grade|
|CBAC030||Occurs East of Anticline with no significant P2O5 Grade|
|CBAC031||Occurs East of Anticline with no significant P2O5 Grade|
|CBAC034||Occurs East of Anticline with no significant P2O5 Grade|
|CBAC038||No significant P2O5 Grade; shallow hole|
|CBAC052||Occurs East of Anticline with no significant P2O5 Grade|
|CBAC053||Occurs East of Anticline with no significant P2O5 Grade|
|Bold Denotes Significant Upgrade|
|* Indicates Sample Too Small Thus Nothing in Size Distribution|
SOURCE Strata Minerals Inc.
Image with caption: "Phase 1 Exploration Program - May 2013 - Figure 1 - Cardabia Drillhole Location Plan (CNW Group/Strata Minerals Inc.)". Image available at: http://photos.newswire.ca/images/download/20130531_C3893_PHOTO_EN_27327.jpg
Image with caption: "Phase 1 Exploration Program (May 2013) - Figure 2 - Carbadia Project Drillhole Sections Lithological Interpretation - Page 1(CNW Group/Strata Minerals Inc.)". Image available at: http://photos.newswire.ca/images/download/20130531_C3893_PHOTO_EN_27328.jpg
Image with caption: "Carbadia Project Drillhole Sections - Phase 1 Exploration Program (May 2013) - Figure 2 - Lithological Interpretation - Page 2 (CNW Group/Strata Minerals Inc.)". Image available at: http://photos.newswire.ca/images/download/20130531_C3893_PHOTO_EN_27329.jpg
Image with caption: "Carbadia Project Drillhole Sections - Phase 1 Exploration Program (May 2013) - Figure 2 - Lithological Interpretation - Page 3 (CNW Group/Strata Minerals Inc.)". Image available at: http://photos.newswire.ca/images/download/20130531_C3893_PHOTO_EN_27330.jpg
Image with caption: "Carbadia Project Drillhole Sections - Phase 1 Exploration Program (May 2013) - Figure 2 - Lithological Interpretation - Page 4 (CNW Group/Strata Minerals Inc.)". Image available at: http://photos.newswire.ca/images/download/20130531_C3893_PHOTO_EN_27331.jpg
Image with caption: "Carbadia Project Drillhole Sections - Phase 1 Exploration Program (May 2013) - Figure 2 - Lithological Interpretation - Page 5 (CNW Group/Strata Minerals Inc.)". Image available at: http://photos.newswire.ca/images/download/20130531_C3893_PHOTO_EN_27332.jpg