Eagle Star Extends Drill Program to Further Delineate Resources on Additional Outcropping Targets Identified at The Bomfim Project
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 05/14/13 -- Eagle Star Minerals Corp. (TSX VENTURE: EGE)(PINKSHEETS: ELGSF)(FRANKFURT: E6R) ("Eagle Star" or "the Company") is pleased to announce that based on positive results, the drill program being carried out at the Bomfim Agro-mineral Project has been extended in order to quantify resources on additional targets already identified through previous field work. 110 holes have been added to the program in addition to the 150 holes originally planned.
The new program will be distributed amongst remaining areas of Target D (PZE South) other than the portion of the target where the resource calculation is currently being carried out. An additional six areas with very similar geological context and known mineralized zones are also programmed to be explored which include Target D (PZE North), Target D (MSZ), Target D (PZW), Target A (Amaury), Target G (Kalunga) and Target F (Adepasa). These seven targets to be drilled are located within a 15km radius and the Company's focus will be aimed towards defining high-grade (greater than 15% P2O5) and lower grade (5%-15% P2O5) zones that collectively will represent the overall resource at Bomfim.
Target D "Bomfim Hill"
1. (PZE South)- Large occurrences of outcropping high-grade phosphate were
discovered as a result of detailed mapping (1:10,000). A geophysical
survey consisting of 17 kilometres has also been concluded with results
indicating the potential for a sizeable mineralized package and has been
an instrumental tool in assisting with drilling in preparation for the
resource calculation. To date, drilling has completed a total of 100
holes and material has already been shipped for lab analysis. Hand held
XRF recognition is also systematically being performed on all drill
holes as they become available.
2. (PZE North)- Detailed mapping (1:10,000) revealed an area in which the
high-grade phosphorite outcrops over a significant portion of the target
area. Follow-up work included opening six pits distributed along the
northern portion of the target. All pits intersected good phosphate
mineralization and remain open at depth along a continuous trend of at
least 300 metres. Drilling on a 100 x 100 meter grid is scheduled to
further quantify resources at PZE North.
3. (MSZ)- A target of high priority, MSZ is considered by Eagle Star's
technical team to be the source of the high-grade phosphorite which was
re-deposited in alluvial and/or colluvial channels in the other Targets
at Bomfim Hill (PZE- North, South and West). Eagle Star has identified
by way of detailed mapping (1:10,000) a silicified phosphate cover
estimated to be 5-8 metres in thickness at the top of the hill. To date,
due to the hard nature of the silicified cap, exploration work by way of
manual pit digging has been unsuccessful in passing through this
material. Dr. Campos, Eagle Star's expert on phosphate and Chief
Operating Officer believes that the silicified phosphate will preserve
the phosphorite most likely to be found beneath.
4. (PZW)- This target resides in the same geological setting as PZE North &
PZE South and shares much of the same favourable technical
characteristics for hosting high-grade phosphate. Detailed mapping
(1:25,000) has already revealed the presence of outcropping phosphorite
at the western base of the Bomfim Hill which is an important indicator
to additional phosphate mineralization to be found in the area.
Target A (Amaury)- Detailed mapping (1:10,000) at this area has revealed outcrops of high-grade phosphorite. As part of a scout drilling program, two holes BRF-03 & BRF-15 were executed in strike and were previously reported (news release dated 12th Nov 2012) to return good intersections of up to 16 meters consisting of significant zones including grades up to 13.65% P2O5 over 2.40m. A geophysical line survey of 2.5 kilometers performed on top of both drill holes indicated a strong correlation between geophysical and drill results providing valuable insight between drill holes. The geophysical survey also indicated that mineralization should extend to the south and closer to surface. Two pits were opened to confirm this and they returned preliminary indications of high-grade phosphate values of up to 15.37% over 2.0 metres by handheld XRF, further extending the strike to 570 meters. The preliminary interpretation of this zone suggests a tabular form of mineralization that may extend laterally over 1.5 kilometers. (see news release dated 28th Feb 2013.)
Target G (Kalunga)- The regional exploration program conducted to the north of Target A identified a prospective area of outcropping phosphorite where hand held XRF results of chip samples returned significant values including a high-grade sample with 16% P2O5. Further geological mapping at a 1:50,000 scale showed favourable geological context very similar to other targets where high-grade phosphate has been discovered. These areas of interest are currently being followed up with more detailed mapping and test pits prior to drilling. One geophysics line (1,400 metres) was surveyed (passing by the targets selected to carry out pit testing) and has returned a very favourable profile that justifies further exploration by way of drilling.
Target F (Adepasa)- Follow up work and interpretation of the results from the scout drilling program lead the team to identify this promising area. The prospective interpretation is based on the presence of a silexite hill where the typical rock textures of the phosphorite are preserved through the silicification process. The plateau surrounding the hill also displays the same type of soil that occurs at Target D. One geophysics line (700m) has already been surveyed and revealed the presence of a thick profile from dolomite bedrock to surface.
John Harrop PGeo, FGS, of Coast Mountain Geological Ltd, a qualified person under NI 43-101, reviewed and approved the technical disclosures of this press release on behalf of the Company.
To view map of targets please click on the following link: http://media3.marketwire.com/docs/EGE0514.pdf
CONCLUSIONS
"We believe that collectively within the targets mentioned above, we are sitting on multiple phosphate bodies, hence why we have decided to extend this drill program. The NI 43-101 Technical Report on the way is the first milestone as part of the overall plan to quantify and qualify the total phosphate resource at Bomfim. We plan to continuously update that report as we move the drilling from one target to another," commented Eran Friedlander Eagle Star President & CEO.
ABOUT THE COMPANY
Eagle Star Minerals Corp is a publicly listed company focused on the acquisition, exploration and development of agro-mineral properties in Brazil. Over the past two years, Eagle Star Minerals has strategically grown its' presence in Brazil and continues to focus on maximizing shareholder value by acquiring assets located in geological areas known for proven phosphate mineralization, coupled with good logistics in close proximity to agriculture.
The Company's shares are publicly traded on the TSX Venture Exchange under the symbol EGE, on the OTC Pink Sheets under the symbol ELGSF and on Frankfurt Stock Exchange under the symbol E6R.
On behalf of the Board of Directors
EAGLE STAR MINERALS CORP.
Eran Friedlander, President
Neither the TSX Venture Exchange Inc. nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange Inc.) accepts responsibility for the adequacy or accuracy of this press release.
Contacts:
Eagle Star Minerals Corp.
Patrick Brandreth
Senior Manager, Corporate Development
1-604-282-7157
patrick@eaglestarminerals.com
www.eaglestarminerals.com
