Arianne Acquires 4 Claims Adjacent to its Lac a Paul Phosphorus Propertyadmin
The management of Arianne Resources Inc. announce the acquisition of 4 additional claims directly adjacent to its Lac A Paul phosphorus project, located 150 km North of Lac St-Jean in Quebec.
The terms of the deal specify that Arianne will acquire 100% of the 4 claims in exchange of a cash payment of $15,000 and the issuance of 300,000 common shares of Arianne, to the 2 arm’s length sellers. The sellers keep a 1.5% NSR, repurchasable for $ 1,000,000. Following this agreement, Arianne now has 100% ownership on 253 claims and 12 claims of the property are owned at 85% by Arianne while mining Fund Saguenay-Lac-St-Jean owns 15%. The property covers an area of about 15,000 hectares.
Work in progress: Note that the results of the sampling campaign made in the summer of 2008 on the property are very conclusive. Of the 95 samples assayed, 41 samples have returned values greater than 3% P2O5, 25 samples have returned values greater than 4% P2O5, 12 samples have returned values greater than 5% P2O5, up to 9.74% P2O5.
A 5,000 meter drilling campaign is scheduled to begin in a few weeks. The access rehabilitation to the drilling sites is currently underway. The drilling will begin thereafter. The purpose of the drilling is to file a NI 43-101 compliant resource calculation. The resource calculation will be undertaken by SGS-Geostat and the drilling will be made by Forages Val-d’Or. The first drilling sites will try to reproduce the historical values where holes have reported grades on 41.09 m at 8.99% P2O5 (PAU-97-02) and 117.86 m at 7.56% P2O5 (Man-97-01).
Arianne Resources is a Canadian exploration company with the primary mission to explore, find and develop gold, phosphorus and uranium deposits in Canada and Mexico.