MBAC reports NI 43-101 resource estimate update for Araxá Rare Earth Oxide/Niobium/Phosphate Deposit

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[{"type":"text","content":"\n\n\n\n\n\nTSX: MBC\nOTCQX:MBCFF\nShares Outstanding:110,926,614\nFully Diluted:120,044,030\n\n\nTORONTO, June 19, 2012 /CNW/ - MBAC Fertilizer Corp. (\"MBAC\" or the \"Company\") (TSX:MBC and\n OTCQX:MBCFF) is very pleased to report the results of an independent resource\n estimate update for the rare earths oxides on the Company's 100% owned\n Araxá Rare Earth Oxide (\"REO\")-Niobium-Phosphate Project (the \"Araxá\n Project\" or the \"Project\") located in the western part of Minas Gerais\n State, Brazil. The Company will file a technical report containing the\n updated mineral resource estimate on SEDAR within the next 45 days\n pursuant to National Instrument 43-101.\n\n\nHighlights of the NI 43-101 Technical Report:\n\n\nAn independent mineral resource has been estimated for the Araxá Project\n comprising a combined measured and indicated mineral resource of 6.34\n Mt at 5.01% TREO (using a 2% TREO cut-off), 8.40% P2O5 and 1.02% Nb2O5. \n\nAn inferred mineral resource of 21.94 Mt at 3.99% TREO, 7.86% P2O5 and 0.64% Nb2O5 has been estimated for the Araxá Project (using a 2% TREO cut-off\n grade)\n\n\nHeavy rare earth oxides (HREO) + Y2O3 represent 2.4% of the TREO in the resources\n\n\nLab tests for the acid leaching process show an average 85% recovery to\n produce a high quality REO bulk concentrate\n\n\nAntenor Silva, Vice Chairman and CEO, stated \"These results confirm our expectations that the Araxá deposit is a\n significant resource base of rare earth oxides, with a high grade compared to other deposits globally. Also, the\n laboratory testwork performed to date indicates that it is possible to\n achieve recoveries averaging 85% for the HREO. MBAC is planning to\n prepare a preliminary economic assessment for the Project, which is\n expected to be released in Q3 2012, and to put in place a pilot plant\n to confirm our laboratory estimates and high purity rare earth oxide\n concentrate. We are very excited with these results and continue to\n discuss off-take agreements with third parties.\"  \n\n\nThe Araxá Project\n\n\nThe Project consists of four tenements covering 214 hectares. The\n Barreiro carbonatite containing the Araxá REO is also the host rock for\n a nearby niobium mine owned by Companhia Brasileira de Metalurgia e\n Mineração (CBMM) and a significant...

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