RE: MBAC Reports Positive Results From First DiamoAnybody care to comment on this piece?
Results obtained thus far indicate that the thickness of the alteration zone ranges from 6 to 47 metres, containing mineralized intervals of up to 27 metres thick and with grades ranging from 3.25% to 37% P2O5. If only the phosphate rich layer is taken into consideration then an average of 20% P2O5 applies and mineralized intervals average 11 metres. Beyond the alteration zone, though there were positive P2O5 readings extending to the bottom of the drill holes, the grades observed were typically below 3.25% P2O5.
The data available indicates that the deposit is a newly discovered carbonatite intruded in volcanic rocks of the upper Proterozoic Iriri formation. Other than phosphate, no significantly anomalous concentrations of other elements typically found in carbonatites have been reported, though first results indicate that the total Rare Earth Elements (REE) content averages 1800 ppm in the phosphate rich alteration zone (best intercept of 4040 ppm total REE from 4 to 5 metre interval of SAN-DD-001) and 250 ppm total REE in fresh rock.