I have done a little research to see if I can dig up any old phosphate results that are on MNM's newly acquired phosphate tenements. To my surprise IMC did testing in this region in the late 60's and 70's.
MNM has been granted exploration licenses for the tenements EL26018, EL26019, EL26020 and EL26021. These are common with historic tenements AP2161 and AP1766. The overlap can be seen in the graphic below.
The results of the historic tests are:
Company name IMC Year 1969 Tenement AP 1766,2159,2160,2161,1897 Author Perrino FA Report no CR1969-0022 Project area Alexandria region No of drillholes 98 Mapsheet RANKEN, MOUNT DRUMMOND, BRUNETTE DOWNS, WALHALLOW, CALVERT HILLS Drilled logs Yes Assay Yes Formation Wonarah Formation, Anthony Lagoon beds Phosphate lithology Siltstone, chert , carbonate rocks (limestone, dolostone) and mudstone Significant holes More than 20% P2O5 found in W2, W20, W37 Comments Report proved that distribution of phosphatic material is greater around margins of Precambrian basement and over probable basement highs. Drilling in the Wonarah authority proved the presence of ore-grade phosphate.
Company name IMC Year 1969 Tenement AP 2161 Author – Report no CR1970-0040 Project area Alexandria region (Wonarah) No of drillholes 139 Mapsheet RANKEN, BRUNETTE DOWNS Drilled logs Yes Assay Yes Formation Wonarah Formation Phosphate lithology Cherty siltstone, siltstone, mudstone Significant holes W39, W48, W60A,W66, W73, W112, W103, W117, W119, W135 have more than 20% P2O5. Comments Several holes showed a positive result for phosphate; 10 holes contained >20% phosphate. An interpretation of the data is in Perrino (1969).
Company name IMC Year 1970 Tenement AP 1766 Author – Report no CR1970-0037 Project area Alexandria region No of drillholes 88 Mapsheet RANKEN, MOUNT DRUMMOND Drilled logs 44 provided Assay Provided for some holes Formation Burton beds (now Wonarah Formation) Phosphate lithology Siltstone, clayey siltstone, chert, limestone Significant holes Phosphate percentages more then 15% were recorded in A76, A79 and A80 Comments Several holes contain <10% P2O5 and three holes contain >15% P2O5. Lithological and gamma logs of 44 holes are provided. It also includes two structure maps of region.
There are other results of tests I am currently reviewing and will post once I have them collated.
MNM Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held