Excellent Drill Results From Dusolo’s Santiago Target Reaffirm Lateral Continuity of High Grade Zone
October 6, 2014 (Source: Marketwired) — DuSolo Fertilizers Inc., (TSX VENTURE:DSF)(FRANKFURT:E6R)(PINKSHEETS:ELGSF) (“DuSolo” or “the Company”) is pleased to announce that the most recent results received from the Infill Drilling Program (“the Program”) completed at the Santiago Target continue to feature excellent grades at significant interval lengths.
The results received to date re-demonstrate the lateral continuity of the high-grade zone with every drill hole, except for one, encountering phosphate mineralization characterized by significant interval length and grade, at or close to surface (see Figure 2). The area selected for this specific Program is where DuSolo intends to begin extracting and processing high-grade, at surface phosphorite to produce Direct Application Natural Fertilizer (“DANF”).
“We are very pleased with this last set of drill results as it reaffirms the lateral continuity of the high- grade mineralization throughout the selected area in which we plan to begin extracting material to process into DANF. It is now clear without a shadow of a doubt, that we can mine Santiago for years to come using an open pit approach as planned,” said Mr. Paulo Amorim, DuSolo´s Vice- President of Exploration. “Drilling in the target area also encountered thick intercepts of siltstone rock that are still open in depth and exhibit average grades ranging between 5%-8% P2O5. The Company intends to make use of this material in the future as part of its stage 2 production plans.”
The results from holes STW-RC-39 to STW-RC-59 are shown in the following table (with best results highlighted)*:
|STW-RC-39||0.00||9.00||9.00||11.42||9||Upper Phosphorite open at depth|
|STW-RC-40||0.00||16.00||16.00||7.14||16||Lower Siltstone open at depth|
|STW-RC-41||15.00||21.50||6.50||10.62||21.5||Lower Siltstone open at depth|
|STW-RC-42||1.00||20.00||19.00||12.05||20||Upper Phosphorite open at depth|
|STW-RC-43||3.00||12.50||9.50||6.44||12.5||Lower Siltstone open at depth|
|STW-RC-44||0.00||7.00||7.00||5.63||25||Lower Siltstone open at depth|
|STW-RC-45||Not mineralized||22||Intersected fault zone|
|STW-RC-46||2.00||29.00||27.00||4.97||29||Lower Siltstone open at depth|
|STW-RC-47||6.00||29.00||23.00||6.41||33||Lower Siltstone open at depth|
|STW-RC-48||3.00||17.00||15.00||4.81||30||Lower Siltstone open at depth|
|STW-RC-49||0.00||25.00||25.00||10.97||25||Lower Siltstone open at depth|
|STW-RC-50||0.00||30.00||30.00||6.79||30||Lower Siltstone open at depth|
|STW-RC-51||0.00||15.00||15.00||12.93||18||Lower Siltstone open at depth|
|STW-RC-52||4.00||20.00||16.00||6.89||20||Lower Siltstone open at depth|
|STW-RC-53||0.00||17.00||17.00||7.55||17||Lower Siltstone open at depth|
|STW-RC-54||0.00||15.00||15.00||7.44||15||Lower Siltstone open at depth|
|STW-RC-55||0.00||13.00||13.00||6.24||13||Lower Siltstone open at depth|
|STW-RC-56||3.00||18.00||15.00||6.14||18||Lower Siltstone open at depth|
|STW-RC-57||0.00||16.00||16.00||12.12||16||Lower Siltstone open at depth|
|STW-RC-58||0.00||9.00||9.00||6.13||9||Lower Siltstone open at depth|
|STW-RC-59||3.00||14.00||11.00||6.25||14||Lower Siltstone open at depth|
|* Holes STW-RC-01 to STW-RC-18 were completed in 2013 and the results were used to elaborate both the exploration model for Santiago and to calculate the Initial Resource Estimate of the Bomfim Project (previously announced January 22nd, 2014). Holes STW-RC-19 to STW-RC-38 were completed during this Campaign and results were released recently (see press release dated September 3rd, 2014).|
DRILL PROGRAM DETAILS
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The drill holes are defined by the following sequence:
- The target area (Santiago = ST),
- The exploration domain (W or P),
- The drilling method (reverse circulation = RC),
- The drill hole number
The program commenced at the Santiago Target on July 28th, 2014 and was concluded 26 days after with 41 holes completed (782 meters). The Program followed a 25 by 25 meter regular grid and covered an area of 30,000 square meters. The infill drill holes were terminated upon passing through the Upper Phosphorite Layer. Thus, the mineralization remains open at depth towards the Lower Siltstone Layer. The average depth of the 41 holes completed is 19 meters.
Though this area selected for infill drilling represents a small portion of the Santiago Target, it contains, according to the Company’s internal estimates, enough high-grade resources to provide for multiple years of DANF processing based on the capacity of the DANF facility recently secured by DuSolo (previously announced Aug 11th, 2014).
To view Figure 1 please visit the following link: http://media3.marketwire.com/docs/FIGURE01-SUDO.pdf.
To view Figure 2 please visit the following link: http://media3.marketwire.com/docs/FIGURE2-SUDO.pdf.
DIRECT APPLICATION NATURAL FERTILIZER
DuSolo intends to use a series of crushers, screens and mills, to process a small portion of the high-grade phosphate discovered at the Santiago Target into three DANF products of different phosphate grades (12%, 15%, 18% P2O5). Unlike other phosphate based fertilizer products, DANF processing is simple and apart from screen separation (a process that relies on physical attributes) does not entail flotation and/or further beneficiation. DANF is used alongside the standard and more costly Nitrogen, Phosphate and Potash (“NPK”) blend to compensate for elevated nutrient depletion as a result of heavy tropical rainfalls. Farmers in the region have become accustomed to using DANF on their crops over the past several years but due to recent restrictions in supply, are no longer able to source it locally. DuSolo, as a result of its recent high-grade discovery, intends to fill the current void in this rapidly expanding marketplace by providing farmers with a local alternative supply.
QUALITY ASSURANCE & QUALITY CONTROL
The Company implements industry recognized QA/QC methods at the project by inserting high and low grade standard samples, blanks and duplicates. Chips from RC drilling are collected in bags for each one-meter interval. Chips are logged at the drill site and the samples are taken to a core shack located at DuSolo’s field office. At the core shack the samples are then crushed and screened to less than 2mm prior to homogenization and quartering. An aliquot of one quarter from each sample is then sent for analysis.
The Qualified Person has reviewed the QA/QC results and inspected all the procedures assuring the quality of the information being reported 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’s method XR55L which prepared the samples with a lithium tetraborate fusion followed by XRF analysis. Intertek is independent of the Company.
Mauricio Prado, Bomfim’s Project Manager, is a Qualified Person under National Instrument 43-101 (“NI 43-101”) and has reviewed and approved the technical disclosures of this press release on behalf of the company.
ABOUT THE COMPANY
DuSolo Fertilizers Inc. is focused on developing a fully integrated process to produce phosphate based fertilizers within the Cerrado region of Brazil as part of a nationwide effort, incentivized by the government, to increase supply of domestically sourced fertilizers and achieve agricultural self sufficiency.
The Company’s shares are publicly traded on the TSX Venture Exchange under the symbol DSF, 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
DuSolo Fertilizers Inc.
Eran Friedlander, President
Certain information contained in this press release constitutes “forward-looking information”, within the meaning of Canadian legislation. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur”, “be achieved” or “has the potential to”. Forward looking statements contained in this press release may include statements regarding the future operating or financial performance of DuSolo which involve known and unknown risks and uncertainties which may not prove to be accurate. Actual results and outcomes may differ materially from what is expressed or forecasted in these forward-looking statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Among those factors which could cause actual results to differ materially are the following: market conditions and other risk factors listed from time to time in our reports filed with Canadian securities regulators on SEDAR at www.sedar.com. The forward-looking statements included in this press release are made as of the date of this press release and DuSolo disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.
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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