high grade phosphate identified over 20km

HIGH-GRADE PHOSPHATE
MINERALISATION IDENTIFIED OVER 20km
AT BARR CREEK PROJECT, QUEENSLAND

Highlights
• Phosphate mineralisation found to extend over a 20km strike length at the D-Eight, Lancewood and Trilobite Prospects within the Barr Creek Project (Qld)
• Historical assay results of 1960’s sampling by Broken Hill South Ltd include:
�� Drill hole – 6.9 metres averaging 21.6% P2O5 from 19 metres at D-Eight
�� Drill hole – 1.5 metres averaging 22.5% P2O5 from 16 metres at D-Eight
�� Outcrop – 35.7% at D-Eight and 35.2% at Lancewood
• Assay results of outcropping rock sampled by Uramet at D-Eight and Lancewood contain up to 31.2% P2O5 at D-Eight, and 32.8% P2O5 at Lancewood
• Phosphate rock at least 6 metres thick identified at the Trilobite Prospect
Diversified explorer Uramet Minerals Limited (ASX: URM “Uramet”) is pleased to announce that it has received high-grade phosphate results from sampling undertaken at the Company’s 100%-owned Barr Creek Phosphate Project, located 120km north of Mt Isa in Queensland.
The Barr Creek Project area comprises northern and eastern extensions of the third-party-owned Lady Jane phosphate deposit discovered in the late 1960’s. Historical exploration undertaken by Broken Hill South Ltd during the 1960’s within Uramet’s tenement area included surface sampling and reconnaissance drilling.
Uramet has mapped both previously known and newly discovered phosphate rock outcrops spanning some 20km within the Barr Creek tenement, with surface samples also collected from three areas at Lancewood, D-Eight and Trilobite (see Fig. 1). These areas cover approximately 20km² of phosphate rock strata, either outcropping or under shallow cover. These samples were assayed by a commercial laboratory for P2O5.
The Trilobite prospect is located approximately 12km south east of the D-Eight Prospect, where an extensive outcrop of chert breccia and shelly phosphorite is exposed on a hillside capped with younger rocks. The phosphatic beds at Trilobite appear to have a true thickness of at least 6 metres, which is significant as it confirms the continuity of the D-Eight phosphorite for 12 km to the south east.
The exposed phosphate rocks at Trilobite are significantly silicified, resulting in lower P2O5 grades. Silicification should be less intensive below surface and as a result, phosphate grades should increase as silica levels decrease with depth.
Commenting on the results, Uramet’s Managing Director Mr Bill Hewitt said: “We are very encouraged by these latest results at Barr Creek, which confirm an extensive 20km mineralised zone and give us great confidence for further exploration in the area.”
“With the recently commenced 3,000 metre drilling program at the Marqua Phosphate Project in the Northern Territory, together with these latest Barr Creek laboratory results, we are well placed to meet our short-term objective of proving up a JORC-compliant phosphate resource for rapid development,” he added.
Details of the laboratory results are set out in the tables below.
Competent Persons Statement
This report is based on geological information compiled by and reported upon by W.V. Hewitt a full time employee of Uramet Minerals Limited, a Member of the Australian Institute of Geoscientists with more than 5 years experience in the fields of activity reported. W.V. Hewitt has read and has given his prior written consent to the release of this report in this form.
ENDS
Released by:
On behalf of:
Nicholas Read
The Board, Uramet Minerals Limited
Read Corporate
For further information, contact:
Telephone: (08) 9388 1474
Bill Hewitt, Managing Director
Sam Randazzo, Chairman
Telephone: (08) 6380 2799
Website: www.uramet.com.au
Table 1: Uramet Surface Samples
Sample No
Description
Prospect
MGA_E
MGA_N
P2O5 %
BMRS003
phosphorite
Lancewood
301705
7837553
32.8
BMRW500 phospho
rite
Lancewood
300961
7838395
29.9
BMRS018 phospho
rite
D-Eight
306958
7834307
29.8
BMRS024 phospho
rite
D-Eight
305630
7834080
31.2
BMRS033 weathe
red phosphorite
D-Eight
307954
7835297
24.0
BMRS044 silicified
phosphorite
Trilobite
317348
7827001
4.7
BMRS046 weathe
red phosphorite
D-Eight
308583
7834604
18.2
BMRS047 weathe
red phosphorite
D-Eight
308796
7834217
17.5
BMRS048
weathered phosphorite
D-Eight
308821
7834262
16.1
TH01-c,e,f,g phosphorite
D-Eight 307136
7834498
16.4
TH01-l,n
phosphorite
D-Eight
307015
7834088
14.7
Table 2: Historical Drill Results by Broken Hill South Ltd, 1968
Thickness (m)
Hole No.
Prospect
Overburden
Phosphate
MGA_E
MGA_N
Average
P2O5 %
PDH-LJ 3
D-Eight
16
1.5
309737
7833667
22.5
PDH-LJ 4
D-Eight
19
6.9
308070
7834437
21.6
PDH-LJ 5
D-Eight
30
2.3
307483
7833143
13.6
Note: Locations are approximate ±100m
Table 3: Significant Surface Samples by Broken Hill South Ltd, 1968
Sample No
Description
Prospect
MGA_E
MGA_N
P2O5 %
OC-LJ 11
phosphorite
Lancewood
301494
7839072
18.1
OC-LJ 12
phosphorite
Lancewood
300969
7838771
35.2
OC-LJ 13
silty phosphatic chert
Lancewood
299724
7840856
23.6
OC-LJ 22
phosphorite
D-Eight
306853
7833694
23.5
OC-LJ phospho
rite
D-Eight
306898
7833929
35.7
OC-LJ 24
phosphorite
D-Eight
306923
7833934
24.3
Note: Locations are approximate ±100m
Figure 1: Barr Creek Phosphate Project (EPM 15015)