Arianne Phosphate (TSXV:DAN,FWB:JE9N) commenced drilling on Lac a Paul, significantly increasing the mineral resources and extending the operational life of its Lac à Paul Phosphate Rock Project.
As quoted in the press release:
The Paul Zone currently consists of 590 million tonnes of measured and indicated (M & I) resources at a grade of 7.1% P2O5 for which mineral reserves totalling 472.1 million tonnes at a grade of 6.9% P2O5 have been established based on the mining plan of the Feasibility Study (the “Study”) for the Lac à Paul project filed in 2013 (see press release of October 24, 2013). According to the Study, these reserves support a minimum mine life of 25.75 years by mining just the Paul Zone, as currently defined and will generate an NPV of 1.9B$ US at an 8% discount rate. In addition, the Manouane Zone contains 164 million tonnes of measured and indicated resources (M & I) at a grade of 5.88% P2O5 and Zone 2 consists of 64 million tonnes of inferred resources at 4.55% P2O5 (see press release of November 8, 2011).