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JORC resource for Mandacaru phosphate project
JORC resource for Mandacaru phosphate project.
About this update from Harvest Minerals Limited
[{"type":"text","content":"\n \nRNS Number : 3124B Harvest Minerals Limited 16 June 2016 \n\n16 June 2016\n \nHarvest Minerals Limited \n(\"Harvest\" or the \"Company\")\n \nINDEPENDENT JORC COMPLIANT RESOURCE ESTIMATE COMPLETE FOR THE MANDACARU PHOSPHATE PROJECT\n \nHarvest Minerals Limited (ASX:HMI, AIM:HMI) is pleased to announce that an independent JORC (2012) compliant, Indicated and Inferred Mineral Resource estimate has been completed for the Company's 100% owned Mandacaru Phosphate Project (\"Project\") in Ceará State, Brazil. \nHighlights\n· The Project contains a JORC (2012) compliant total resource of 4.38Mt @ 4.55% P2O5, which includes an Indicated resource of 1.47Mt @ 5.30% P2O5 and an Inferred resource of 2.91Mt @ 4.18% P2O5.\n· The Project has an estimated additional exploration potential of 4Mt of phosphate ore with similar grades, from the extension of the estimated mineralized layers, to be proven up by further exploration assessment. \n· Associated uranium (\"U\") and thorium (\"Th\") grades are lower than 400 ppm.\n· This resource estimate was completed by GE21 Consultoria Mineral (\"GE21\"), a newly established firm comprised of the same team who carried out the resource estimate at the Sergi Project on behalf of Coffey Mining.\n \nSeparately, the Company is pleased to report that the development of the Arapua project is on track and the Company expects to shortly announce a resource associated with its drilling programme conducted in Q1, 2016. Additionally, the Company is working with GE21 in the preparation of a scoping study. The Company anticipates substantial forward movement in relation to Arapua during Q3, 2016.\n \nCommenting on the resource estimate, Harvest Executive Chairman, Brian McMaster stated: \n \n\"Completion of this resource estimate, within months of the acquiring the asset in December 2015, demonstrates Harvest's ability to quickly and substantially add value to projects at minimal cost. With Arapua, Sergi, Capella and now Mandacaru, we are steadily building a portfolio of phosphate and potash assets that will enable us to realise our goal of becoming a significant South American fertilizer company. Whilst we continue to acquire and develop other projects, which meet our capital and c...