RE: RE: Almost a 100,000 shares traded
The Funchal Norte Target represents only a small portion of the geological potential of the Cerrado Verde project.
Coffey Mining used satellite imagery technology to estimate the exploration potential inside Amazon claims of approximately 15 billion tonnesof glauconite mineralization
The Company will undertake a wide-spaced drilling campaign aimed at producing a NI 43-101 compliant resource estimate for the whole deposit extension which exceeds the length of 100km. The target is to complete the drilling campaign by Q3/2011. In addition, the Company will conduct further drilling to upgrade the current 43-101 compliant resource to measured and indicated level by the end of Q2/2011
In addition, the processing route developed at the University of Cambridge (“Cambridge Process’) for which the company has filed patents (see release dated December 2, 2010), has potential to economically produce conventional potash fertilizers, namely SOP and KCl, from our extensive potash rock resources. Amazon plans to continue studying the viability of the Cambridge Process of producing conventional potash fertilizer as a possible phase two development initiative. If successful, the Company plans to issue a scoping study by Q3/2011.
Phosphate
Drilling at Apatita has proved the Nau de Guerra and Alto da Serra are two highly promising prospects. The Company will continue drilling with a view of producing NI 43-101 compliant resources in Q2/2011. In addition, the Company will drill another 5 prospects in a trend over 30km long with P2O5 results as high as 29%. About 95% of Brazil’s phosphate production takes place less than 200km from Apatita.