Bullboard - Stock Discussion Forum Xplore Resources Corp V.XPLR

Alternate Symbol(s): XPRCF

Xplore Resources Corp is a Canadian exploration company. The Company is focused on the acquisition and development of lithium projects in Ontario. The Company’s principal business activities include the acquisition and exploration of mineral property assets prospective for gold and copper mineralization throughout the Americas. Its projects include Surge Lithium Project, Perrigo Lithium Project... see more

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Xplore Resources Corp > Looks like they will soon drill this phosphate property.

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Post by Oldschool2022 on Sep 23, 2022 1:20am

Looks like they will soon drill this phosphate property.

About Diamond Mountain

Diamond Mountain is an advanced-stage phosphate exploration project located in Uintah county, Utah. The property is a 547-hectare state mining lease that offers an existing measured and indicated resource estimated to be 26.8 million tonnes (Mt) averaging 19.67 per cent P2O5 in addition to an inferred resource estimated at 23.1 Mt averaging 19.67 per cent P2O5. The mineral resource estimate is supported by the technical report titled "Technical Report, Diamond Mountain Phosphate Project, Uintah County, Utah," authored by LD Henchel, PGeo, PG, with an effective date of Sept. 11, 2014. The project is adjoined to the west by Simplot Corp.'s Vernal phosphate mine and beneficiation complex, which has been operating since the 1960s. Prior work on the property was completed by U.S. Steel Corp. and Revival Gold Inc. Diamond Mountain is in management's view, considered one of the top-10, undeveloped, P2O5 deposits not currently owned by a major fertilizer producer, with an upper quartile P2O5 in situ grade opportunity

Strong phosphate market fundamentals from agriculture and lithium iron phosphate (LFP) battery production offer both short and long-term phosphate demand growth. We plan to apply for exploration permits immediately on closing of the financing with the objective of drilling by late Q3 2022. Drilling shall focus on converting the current inferred mineral resource to the measured and indicated classification as quickly as possible and phosphate ore collected shall be used to evaluate the metallurgical characteristics of the phosphate. The world needs phosphate for food production, bio-fuel production and electric vehicle battery production. World events continue to demonstrate the need for home grown solutions to global supply chain disruptions. We offer the project, the team and the partners to advance Diamond Mountain to meet the anticipated demand growth in Canada and the U.S."

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