AMN - SENEGAL: Phosphate resource up at Baobab

Revised mineral resource estimates for Avenira Limited’s Baobab Phosphate Project in Senegal have significantly increased the project’s longevity potential. Including mining dilution to the end of August, the new indicated resource is 11% higher than the previous estimate and the inferred resource is 37% higher.

The indicated resource now stands at 34.9 million tonnes at 20.7% phosphate and the inferred resource is estimated at 156 million tonnes at 18% phosphate. The cut-off grade for both is 15%.

The broader project area covers approximately 1163sqkm and the tenement area has been recently granted for three additional years. A Small Mine Permit (SMP) was granted in May 2015 over the area of thickest and highest grade mineralisation identified to date in the Gadde Bissik area.

The focus of exploration has continued largely within and adjacent to this area since that time, including an infill drilling campaign within the SMP to better define the geometry of the phosphate sequence. In addition, drilling campaigns were carried out further to the east, with the objective to increase indicated and inferred resources at the Gadde Escale prospect.

At the Gadde Bissik East area, drill holes outside and along the eastern edge of the SMP perimeter and those inside, in the southern part of the SMP, were designed to increase indicated resources.

The drilling further east of the SMP, at a broader spaced grid, had the objective to increase inferred resources. Further infill drilling is warranted around the better intercepts. An additional 22 diamond holes have been drilled within the resource area to the north, and in extension to the east. Assays results for these holes are pending.

At Gadde Escale, formerly Gad Escale, results from additional holes drilled at the western and southern margins of the resource area have increased the Inferred Resources. The prospect is open to the east, south and west and further drilling in this area is planned with the dual objective to increase the area of the resource and to identify the areas of thicker, higher grade mineralisation. An additional 12 diamond holes have been drilled predominantly on the western and south-western margins of the resource area and assay results for these are pending.

At Dinguiraye, Gandal and Gadde Bissik West, the resource extents have not changed. The mineralised domain interpretations have been updated. Those prospects warrant further investigations and drilling in those areas is planned as well as diamond-core infill drilling designed to identify the areas of thicker, higher grade mineralisation.

Avenira’s managing director Louis Calvarin said: “Our exploration team has continued to deliver outstanding results in growing the resource base. Baobab now hosts a world-class resource and this represents a very strong basis for the company’s strategic growth and long term success.”

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