Eagle Star Continues to Drill Multiple Thick Intersections of High-Grade Phosphate at Bomfim’s Santiago Target Including 19m @ 16.48% P2O5, and 11m @ 21.72% P2O5 From Surface
January 8, 2014 (Source: Marketwired) — Eagle Star Minerals Corp. (TSX VENTURE:EGE)(PINKSHEETS:ELGSF)(FRANKFURT:E6R) (“Eagle Star” or “the Company”) is very pleased to announce additional excellent lab results from the remainder of the 2013 Santiago Target Resource Delineation Drill Program. Santiago is a former Vale owned property that borders the MbAC Fertilizers (“MbAC”) “Canabrava” discovery and one of nine (9) targets identified by Eagle Star thus far to host high-grade mineralization at surface within the Bomfim Project.
Drill hole STW-RC-08 intersected from SURFACE, 19m @ 16.48% P2O5 which includes 11m @ 21.72% P2O5 and 5m @ 26.08% P2O5. The mineralization in several holes remains open at depth. Newly released significant drill intersections are detailed in the following table:
|Hole ID||From||To||Interval||P2O5 %||Comments|
|including||0.00||11.00||11.00||21.72||both phosphorite units|
|and including||0.00||5.00||5.00||26.08||upper phosphorite unit|
|STW-RC-09||0.00||26.00||26.00||9.13||Interval with ≥2.2% P2O5 continues further down hole and is open at depth.|
|including||1.00||14.00||13.00||13.34||lower phosphorite unit.|
|STW-RC-10||8.00||23.00||15.00||11.58||mixed phosphorite & siltstone; open at depth|
|including||8.00||14.00||6.00||19.45||upper phosphorite unit|
|STW-RC-11||5.00||15.00||10.00||5.74||mixed phosphorite & siltstone; open at depth|
|Including||5.00||8.00||3.00||9.03||lower phosphorite & siltstone|
|STW-RC-12||0.00||21.00||21.00||13.95||mixed phosphorite & siltstone|
|Including||0.00||15.00||15.00||18.07||both phosphorite units|
|and including||8.00||15.00||7.00||23.46||lower phosphorite units|
|STW-RC-15||2.00||23.00||21.00||6.03||mixed phosphorite & siltstone|
|Including||7.00||13.00||6.00||10.06||lower phosphorite & siltstone|
|STW-RC-18||1.00||14.00||13.00||4.74||siltstone – first interval|
|Including||24.00||28.00||4.00||3.58||siltstone – second interval|
The reverse circulation (“RC”) drilling program for the Santiago Target is scheduled for a total of 160 holes. The results of all 23 drill holes completed in 2013 at the Santiago Target have now been released.
“The results received thus far from Santiago consistently demonstrate remarkable thickness and very good grades. Collectively, they confirm the uniqueness of this opportunity and its enormous potential. A discovery of this magnitude in the heart of one of the largest agricultural regions in the world, where fertilizer deficiency is very high, is bound to become an important element in helping resolve dependency of local farmers on foreign imports,” commented Professor Amorim, Eagle Star’s Senior Exploration Advisor.
In a series of recent news releases (dated Nov. 25th 2013, Dec. 9th 2013 & Dec. 18th 2013), the Company announced significant drill results from both the STP and STW domains within the Santiago Target. The drill holes from the STP area are located approximately 250 metres from MbAC Fertilizers’ (“MbAC”) claim boundary and have confirmed that the Canabrava mineralization located on MbAC’s Itafos property extends into the Santiago Target. The Canabrava deposit is described by MbAC as containing 20.4 Mt indicated at an average grade of 5.53% P2O5 and 3.7 Mt inferred at an average grade of 4.94% P2O5. (MbAC’s Technical Report dated March 27, 2013 available at www.sedar.com). The drill holes reported in the STW domain are located approximately 1.5 km northeast of the STP area. The holes are positioned in and around an outcrop of high-grade mineralization that has been identified through detailed mapping to extend over a minimum 600 x 300 metre area.
Longest intervals were calculated using a 2.2% P2O5 cut-off, allowing enclosed intervals of one or two samples below cut-off and include a combination of phosphorite and mineralized siltstone. High-grade mineralization in this news release is defined as ≥10% P2O5. All drilling has been with vertical holes and drill widths are believed to represent the true width of the mineralized zone. Chips from reverse circulation drilling are collected in bags for each one (1) metre interval. Chips are logged at the drill site and a representative split is taken on site for submission to the analytical laboratory.
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The Company implements industry recognized QAQC methods at the project. The Qualified Person has reviewed the QAQC results and inspected procedures during a previous site visit but has not otherwise verified the data in this news release. Intertek Laboratories (Intertek) of Sao Paulo Brazil, was used for analytical work reported in this news release. Intertek is part of an international group of certified (ISO 9001:2008) laboratories recognized in the industry for geochemical and agricultural testing. Determination of P2O5 was done by Intertek method XR55L which prepared the sample with a lithium tetraborate fusion followed by XRF analysis. Intertek is independent of the Company.
John Harrop PGeo, FGS, of Coast Mountain Geological Ltd, a qualified person and independent of the Company under NI 43-101, reviewed and approved the technical disclosures of this press release on behalf of the Company.
ABOUT THE COMPANY
Eagle Star Minerals Corp is a publicly listed company focused on the acquisition, exploration and development of agro-mineral properties in Brazil. Over the past two years, Eagle Star Minerals has strategically grown its’ presence in Brazil and continues to focus on maximizing shareholder value by acquiring assets located in geological areas known for proven phosphate mineralization, coupled with good logistics in close proximity to agriculture.
The Company’s shares are publicly traded on the TSX Venture Exchange under the symbol EGE, on the OTC Pink Sheets under the symbol ELGSF and on Frankfurt Stock Exchange under the symbol E6R.
On behalf of the Board of Directors
EAGLE STAR MINERALS CORP.
Eran Friedlander, President
Neither the TSX Venture Exchange Inc. nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange Inc.) accepts responsibility for the adequacy or accuracy of this press release.
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