Arianne Resources (“Arianne” or the “Company”) is pleased to announce the completion of tests carried out by COREM with rock from the Paul Zone, one of the areas for the proposed open pit phosphate mine at Lac à Paul, north of Lac-Saint-Jean, Quebec.
The concentrate produced a grade of 38.5% P2O5 and is free of contaminant. The results represent an important achievement for the Company, demonstrating a superior quality concentrate compared to those typically available elsewhere grading at 31-33% P2O5, with notable levels of cadmium contamination. The encouraging numbers confirm results obtained from earlier work performed by SGS Lakefied (See news release dated November 20, 2009). Part of this concentrate was delivered to the Jacob Engineering Inc. laboratory in Florida in order to produce phosphoric acid. The complete results of the recent tests will be included in the pre-feasibility study scheduled for the end of August.
At present, work continues at the Lac à Paul project the environmental impact study is being conducted. Drilling planned for a new area east of the Paul Zone will begin in August. An update of these initiatives is published in the Company newsletter now available online at: http://arianne-inc.com/userfiles/file/communique/news_letter_juillet2011_ang.pdf. Arianne Resources’ Lac à Paul project aims to mine and develop phosphorus-bearing deposits in the Lac à Paul area of Chute des Passes north of Lac Saint-Jean. With the decline of the logging economy in Saguenay / Lac Saint-Jean, the activities of the Company are stimulating a much needed influx of new industry to the region. In addition to providing great value for investors, Arianne looks forward to propagating a number of key benefits to the local community. The Lac à Paul project could generate $325 million in investment for the region, create 250 jobs, and lead to significant economic spinoffs on both local and regional levels. Further benefits include the creation of indirect employment required to support mine workers, and general economic stimulation for Saguenay / Lac-SaintJean suppliers generated by a possible increase in the volume of purchased goods and services.