SAGUENAY, QUEBEC -- (Marketwired) -- 04/23/13 -- Arianne Phosphate (the "Company" or "Arianne") (TSX VENTURE: DAN)(FRANKFURT: JE9N)(OTCBB: DRRSF) filed today its financial statements for the year ended 2012.
During the fourth quarter and early part of Q1 2013, Arianne made significant progress on the Feasibility Study ("FS") of the Lac a Paul phosphate project, including:
-- Arianne announced that it will seek shareholders' approval to change its name from "Arianne Resources Inc." to "Arianne Phosphate Inc." at its next annual general meeting of shareholders in May 2013 to recognize the focus of its activities on developing the world class Lac a Paul phosphate deposit.-- The Company announced its intention to divest all its non-phosphate exploration properties in order to focus exclusively on becoming a leading Canadian phosphate producer. The decision to sell these non-core assets is a logical step in Arianne's evolution and reflects the transition of the Company from exploration to mine development.-- Arianne announced that the updated mineral estimate for the Paul Zone amounts to 590 million metric tons (Mt) of measured and indicated resources. This National Instrument ("NI") 43-101 compliant resource calculation conducted by GoldMinds Geoservices Inc. provides an updated estimate of the resources present in the Paul Zone, which is the main zone of the Lac a Paul project, Saguenay, Quebec. The updated mineral resource estimate incorporates the results of drilling programs undertaken during the last quarter of 2011 on the lateral and depth extensions of the Paul Zone. In total, 153 holes, totaling 39,371 metres, have now been drilled on the Paul Zone. The highlights are:1. For this disclosure of resources, a cut-off grade of 4.0% P2O5, instead of 2.43% P2O5 in 2011, was used.2. Although the cut-off grade is higher, the measured and indicated resources of the Paul Zone have increased by 221% compared to the last estimate released in 2011.3. The measured and indicated mineral resources of the Paul Zone amount to 590.24 Mt at 7.13% P2O5.-- Arianne announced that the Interim Bench-Scale Status Report has been delivered by Jacobs Engineering. The following is an excerpt from the report: "During the five locked cycle tests, the cleaner 3 concentrate reached an average of 40% P2O5 for an 86.84% recovery. The MER (minor element ratio) and CaO/P2O5 values are acceptable at less than 0.1 and 1.3, respectively." This metallurgical testwork and its conclusions will be used in development of the Company's FS.-- Arianne announced the implementation of measures to strengthen its ties with local communities. The Company intends to take an active part in various committees created by the Innu communities and the various MRCs across the Saguenay-Lac-Saint-Jean region with the objective of promoting local economic benefits. It has also committed to become a participant in the regional committee on economic benefits in order to facilitate the realization of regional benefits that should accrue from the development of the Lac a Paul phosphate mining project.-- Arianne announced the commencement of public consultations on the transportation component of its project to operate a phosphate mine in Lac a Paul, located at kilometre 168 on Chemin des Passes, in the Lac- Saint-Jean region. Public meetings will be held in municipalities most likely to be affected. Following these consultations, Arianne intends to create a working group on transportation, with community representatives and experts in an effort to optimize this major component of the project. The scenario currently under study involves transporting ore by road using heavy haulage trucks from the mine to a sorting centre located north of Saint-Ludger-de-Milot. The ore will then be transported by standard truck to a transfer yard located near the former Rio Tinto Alcan plant in Alma. From this location, the apatite concentrate will be shipped by train to North American markets or to the deep-water port in Grande-Anse, Saguenay, to supply mainly international markets. In collaboration with municipal authorities in Alma, Arianne intends to pursue discussions with representatives from the Quebec Ministere des Transports (MTQ) to make sure the project to build a bypass road in the Isle Maligne area continues to progress.-- Arianne, the Commission scolaire du Pays-des-Bleuets and the Pekuakamiulnuatsh Takuhikan Education and Labour Department are pleased to announce the signing of a letter of intent to create training services for mine workers as part of the Lac a Paul mine project. The training programs will affect various types of jobs, from pre-production to operations, including technical services.