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Strata Minerals Announces Assay Results from Exploration Drilling Programme at Diamond Mountain
Vancouver, British Columbia--(Newsfile Corp. - August 21, 2014) - Strata Minerals Inc. (TSXV: ...
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[{"type":"text","content":"\nStrata Minerals Announces Assay Results from Exploration Drilling Programme at Diamond MountainVancouver, British Columbia--(Newsfile Corp. - August 21, 2014) - Strata Minerals Inc. (TSXV: SMP) (\"Strata\" or the \"Company\") today announced the assay results from the 2014 exploration drilling programme at the Diamond Mountain Phosphate Project (\"Diamond Mountain\" \nor the \"Project\") located in Uintah County, Utah. \n\nAs previously announced on July 28, 2014, Strata completed a 17 hole, 2,397 metre drill programme at Diamond Mountain which confirmed the presence of phosphate mineralisation at depths ranging from 119 to 287 metres and has been initially \ninterpreted through core observation to be within a mineralised zone ranging between 3.8 and 5.3 metres in thickness.\n\nAssay results have been received from the 9 holes that intercepted the zone of phosphate mineralisation. The assay work was completed by SGS North America at its certified laboratory in Denver, Colorado. Assays were completed using XRF analysis for \nphosphorus pentoxide (P2O5) and for a full suite of metal oxides and related compounds. Phosphate (P2O5) grades for the mineralisation zone intercepts range from 17.2% to 22.7% with an average of 19.6% . The phosphate mineralised zone extends for \napproximately 4 km along strike and an average thickness of approximately 4.7 metres. \n\nGeologic modelling work on the resource is currently being completed by Norwest Corporation (\"Norwest\") of Salt Lake City, Utah. Norwest’s scope of work also includes the completion of an initial resource estimate and supporting NI \n43-101 Technical Report for the Project. \n\nStrata President and CEO, Jason Bahnsen commented: \"The assay results provide further confirmation of the target 53 MT (20% average P2O5) historic phosphate resource defined by US Steel in the 1960’s and we \nanticipate releasing the initial NI 43-101 resource report on the Project by the end of September 2014 and subsequently completing Phase I to earn an initial 51% interest in the Diamond Mountain Mineral Leases.\" \n\nUnder the Option Agreement entered into between the Company and Utah Mineral Resources LLC dated November 12, 2013 (the \"Agreement\"), following completion of the Phase I, Strata can elect to proceed to Phase II which includes the \ncommitment of US$1.5 million in e...