Strata Minerals Inc. Files NI 43-101 Report On Cardabia Phosphate Project
TORONTO, July 4, 2012 /CNW/ - Strata Minerals Inc. (TSX-V: SMP) ("Strata" or the "Company") is pleased to announce that it has filed on SEDAR a National Instrument 43-101 technical report (the "Report") on the Company's 80% owned Cardabia Phosphate Project located near Exmouth in Western Australia (the "Cardabia Project") .
The Report is based on a review of historical surface geochemical sampling, regionally spaced drilling and limited costeaning completed on the property during the period from 1989-1990. That work was principally conducted by CRA Exploration Pty Ltd (a former subsidiary of Rio Tinto Ltd.).
The Report summarizes historical phosphate exploration activities and supports the initiation of a $500,000 to $650,000 Phase I work program.
The recommended Phase 1 work program includes reprocessing of historical airborne radiometrics and magnetics flown at 250 and 300 metre line spacing during the period from 1989 to 1991; completion of ground geophysics; 2,500-3,000 metres of aircore drilling and bulk sampling to facilitate initial metallurgical test work.
Subject to the success of the Phase 1 program, the Report recommends that Strata undertake a $2-3 MM Phase 2 work program at the Cardabia Project consisting of aircore and PQ diamond drilling and assaying, trenching and bulk sampling and detailed metallurgical test work.
Peter Kozicz, President and CEO of Strata, commented, "The filing of the Report is an important milestone in Strata's exploration program at Cardabia. We are encouraged by its recommendations as we endeavour to realize additional value to our shareholders through a comprehensive investigation of the property and its potential."
The Report was authored by Matthew Wheeler, B.Sc (Hons) MAIG, a Qualified Person as defined by National Instrument 43-101. Mr. Wheeler has reviewed the preparation of the scientific and technical information in this press release.
The Report is available to be viewed on SEDAR and the Company's website at www.strataminerals.com.
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.
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, and contained in, the Report, 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.
SOURCE Strata Minerals Inc.