Sprott Resource Corp. announces completion and filing of technical report for Mantaro Phosphate Project

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[{"type":"text","content":"\n\n\n\nTORONTO, Aug. 29 /CNW/ - (TSX:SCP) - Sprott Resource Corp. ("SRC") today\nannounced the completion of an NI 43-101 compliant technical report (the\n"Report") on the Mantaro Phosphate Project (the "Mantaro Project").\n\n\n"As supply continues to be tight, we expect the global demand for\nphosphate to remain strong. We believe the Mantaro Project is well positioned\nto capitalize on this strength," said Kevin Bambrough, President and CEO of\nSprott Resource Corp.\n\n\nThe Report identified an Inferred Mineral Resource of 45.17 million\ntonnes grading 15.4% P(2)O(5). The Report also concludes that the project has\nan exposed mineralized area that extends beyond the Philip concession, which\nis the portion of the property on which the inferred resource estimate is\nbased. There appears to be good exploration potential for development of\nadditional mineral resources on the property. The property has been the\nsubject of extensive historical studies. There appears to be good correlation\nbetween the exploration and sampling results obtained by previous workers on\nthe property.\n\n\nKey recommendations in the Report include additional trench sampling and\ndrilling to more fully establish the extent and quality of mineralization and\ndevelop a more definitive resource estimate. In addition, the Report\nrecommended community consultations and agreements to obtain the exploration\npermits necessary to explore the property further.\n\n\nThe Mantaro Project is owned by Stonegate Agricom Ltd. ("Stonegate"), a\n78.95% held subsidiary of SRC. Stonegate is planning an Initial Public\nOffering later this year. Stonegate is well financed and has appointed a\nstrong management team to advance the Mantaro Project.\n\n\n"Stonegate plans to develop the Mantaro Project, while at the same time\nsearching out other development and producing mining opportunities in the\nfertilizer sector," said Mark Ashcroft, P.Eng, President & CEO of Stonegate.\n\n\nThe technical information in this press release has been reviewed by Don\nHains, P. Geo., the author of the Report and a qualified person as defined by\nthe requirements of NI 43-101. Mr. Hains is an independent consultant who has\nbeen retained by SRC.\n\n\nWe note that Inferred Mineral Resources are not Mineral Reserves, as\nInferred...

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