An overview of the Mantaro Phosphate Project, Peru

CIM Montreal 2011
Pedro Olivares, Graham A. Spiers, William A. Napier, Kenneth G. Norris,
Abstract The Mantaro Phosphate Property is located approximately 250 km east of Lima, Peru in the Andean altiplano near the city of Huancayo, Junin District. The Mantaro Phosphate deposit is a mineralized zone of phosphatic rock currently defined by surface outcrops, trenches and drilling extending over a strike length of more than 30 km and a width of more than 5 km. The Mantaro Phosphate Property encompasses 12,800 hectares. Mineralization is exposed as three roughly parallel exposures (mantos) trending in a NW-SE direction along the Mancaspico syncline.
Estimated mineral resources contained in the West zone of the Property (4% P2O5 cut-off) as of February 21, 2010, are:
Measured 5.548 million tonnes¹ @ 10.8% P2O5
Indicated 33.975 million tonnes¹ @ 9.9% P2O5
Measured + Indicated 39.523 million tonnes¹ @ 10.0 % P2O5
Inferred² 376.265 million tonnes¹ @ 9.0% P2O5
1Tonnes rounded to the nearest 1,000 and grade to 1 decimal place.
2Inferred material reported with no cut-off and an assumed grade.
There is considerable potential to expand the resource base. The East and Far East zones of the deposit have been geologically mapped and exhibit surface mineralization widths similar to the West zone. Given that the deposit is of marine sedimentary origin, there is every reason to believe that comparable grades and depth of mineralization are present within the East and Far East zones. Based on this assumption, the potential mineral deposits within the East and Far East zones are estimated to be approximately:
East zone 425-435 million tonnes @ 9% P2O5
Far East zone 280-290 million tonnes @ 9 % P2O5
These potential quantities and grade are conceptual in nature, there has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in these targets being delineated as a mineral resource. However, should such conceptual resources be confirmed by trenching and drilling, the Mantaro Phosphate Property would rank as one of the most significant phosphate deposits in the world. The presentation will provide an update on the geology and mineralization at the project.
Keywords: Phosphate, Mantaro, Peru
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