Mr. Jason Bahnsen reports
STRATA MINERALS IDENTIFIES HIGH GRADE SURFACE PHOSPHATE DEPOSIT
Strata Minerals Inc. has identified a high-grade phosphate surface deposit at the company's Diamond Mountain project located in Utah.
Highlights:
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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.
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Three grab samples were collected from the most prominent outcrop of the PPPA areas and were analyzed by the SGS laboratory in Denver, measuring 34.43 per cent, 34.12 per cent and 35.01 per cent phosphorus pentoxide.
As previously announced on Nov. 7, 2014, 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 southeast 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 and indicated resources, plus 27.1 million tonnes of inferred resources at the Diamond Mountain Plateau area (1), Strata has begun preliminary exploration work
in the recently acquired Diamond Mountain East area to identify potential surface phosphate resources.
Strata Minerals commissioned Norwest Corp. 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 a figure available on-line 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 10 kilometres east of Strata's current phosphate resource areas.
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 300,000 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 are 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 analyzed by the SGS laboratory in Denver. The results
positively identified the mineralization zone through significantly elevated P2O5 grades as indicated in
the attached table. The grab sample grades are significantly higher than the average
grade of 20 per cent P2O5 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.
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 chief executive officer 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 under way."
Lawrence D. Henchel, PGeo, PG, vice-president, geological services, with Norwest Corp., in accordance with National Instrument 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.
(1) As detailed in the completed NI 43-101-compliant technical report (dated Oct. 14, 2014), Norwest estimated an initial measured and indicated resource of 33.9 million tonnes with an average grade of
19.75 per cent P2O5 and average ore thickness of 4.46 metres, plus inferred resources of 27.1 million tonnes with an average grade of 19.72 per cent P2O5 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 eight degrees.
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