594 million tonnes at 18.2% maiden jorc

No surprised that UCL are fighting to protect their Sandpiper asset, from today's announcement

Assays completed to date on 66 wide spaced gravity core samples from a total of
145 cores recovered in EPLs 3414 and 3415 has yielded a fully JORC-Compliant
Inferred Mineral Resource estimate of 593.4 million tons (“Mt”) at a grade of 18.1 %
P2O5 (phosphate), based on a cut off grade of 15% P2O5 and an estimated in-situ wet
bulk density of 1.7 tonnes per m3.

and

With the inclusion of the JORC-Compliant Inferred Mineral resource estimate for
EPL3323 reported in January 2009 by Bonaparte Diamond Mines NL (“Bonaparte”)
the cumulative Indicated Mineral resource estimate for the 3 primary tenements in
the Joint Venture area currently stands at some 789.5 million tonnes comprising
611.1 Mt at 18.1% (from gravity cores samples) and 178.4 Mt at 15.6% P2O5 (from
grab samples)


Enormous maiden result and there's a lot more to come. If you look at the map on the announcement there's at least another 70 samples to report on. This is a huge deposit, as we expected, now confirmed. It's also good to see just how quickly the nature of the deposit allows for analysis - certainly quicker, easier and cheaper than land based drilling.