Toronto — Stonegate Agricom Ltd.’s latest assay results at its Paris Hills Phosphate Project in Southeast Idaho show consistent quality grades throughout the project’s upper phosphate zone. The latest 11 drill hole intercepts in the zone announced June 8 align with the results of 15 drill hole intercepts disclosed in April. The most recent assay results show grades ranging from 21-31.29 percent P2O5 and phosphate bed thicknesses of 2.5-5.4 meters, which are consistent with ranges previously published. In December 2010, the Toronto-based company confirmed intersecting high-grade phosphate on the upper and lower zones of its Paris Hills project. Stonegate President and CEO Mark Ashcroft said the Paris Hills project could rank as one of the highest-grade phosphate deposits in the Americas. The drilling to determine resources is now complete. Stonegate expects to release a compliant estimate of the zone’s mineral resources in the second half of 2012. The company also intends to announce assay results for the project’s lower phosphate in the next few weeks. A pre-feasibility study for the lower zone was released in March. Mineral reserve estimates are expected to be updated in a feasibility study by the end of 2012. Ashcroft said Stonegate is confident the two deposits have sufficient size and grade to become strategic, cost-effective sources of phosphate supply for major fertilizer producers. Stonegate completed the purchase of the phosphate/vanadium property at Paris Hills from Rocky Mountain Resources Corp. in November 2009 for $1 million in cash and six million common shares of Stonegate valued at 50 cents per common share. Earlier in 2009, Rocky Mountain announced its phosphate holdings in Paris Hills could sustain mining operations for up to 75 years. It said the estimated 4.6 million tons of ore at 29 percent P205 could potentially be mined and directly shipped as feed to a phosphoric acid plant.
Transparency Across the Fertilizer Value-Chain