TORONTO, Sept. 5, 2012 /CNW/ - Strata Minerals Inc. (TSX-V: SMP) ("Strata" or the "Company") is pleased to announce the completion of permitting and commencement of its planned 2,500-3,000 metre Phase 1 drill program on the Company's 80% owned Cardabia Phosphate Project (the "Cardabia Project") located near Exmouth in Western Australia.
The Phase 1 drilling will be comprised of 30-40 shallow drill holes. The program will focus on verifying historical drill results completed by CRA Exploration (now Rio Tinto) in 1990, which confirmed a phosphate bearing horizon with a strike length of 21 km between South Paddock Dam and Karleedra Dam on the property. Additionally, the program will test for shallow (0-50 metres) occurrences of phosphate mineralisation laterally and vertically along that horizon, the potential for a northern extension of the horizon north of South Paddock Dam, and will also test the northeast trending gravity high east of the horizon in an area with no previous phosphate exploration.
The Phase I drilling program is supported by the favourable conclusions of the Company's recently filed National Instrument 43-101 report authored by Matthew Wheeler, B.Sc (Hons) MAIG. The program is being managed by Mr. Wheeler and consulting geologist Lisa Wells, who oversaw the exploration and scoping study of the Highland Plains Phosphate deposit in Australia.
The Company mobilized one drill rig on the property on August 27, 2012 and expects to complete the drilling program and announce Phase 1 results in the fourth quarter of 2012. MLM Drilling has been employed to conduct the Phase 1 program at Cardabia.Peter Kozicz, President and CEO of Strata, commented, "We are pleased to be through permitting and to have commenced exploration at Cardabia Project. The Company is hopeful that the Phase 1 drilling program will adequately test and confirm the potential for the property to host significant phosphate mineralisation as suggested by historical drilling and Strata's recent NI 43-101 report." "Peter Kozicz" President, CEO About Strata Minerals Inc. Strata Minerals Inc., is an emerging, Australasia focused, agricultural nutrient company exploring for commercial scale phosphate rock mineralization deposits. Armed with the objectives of becoming a supplier to the global fertilizer industry and generating wealth for its shareholders, Strata is currently advancing its phosphate exploration projects in Western Australia and Queensland and intends to broaden its focus to other agricultural nutrients including potash and lime. All references to the Company in this release include the Company's wholly owned Australian subsidiary, Strata Minerals Pty Ltd. For further information, please refer to the Company's website at www.strataminerals.com. Special Note Regarding Forward-Looking Statements Certain statements included herein constitute forward-looking statements. The words "expect", "intend", "anticipate", "propose" and "may" and similar expressions identify forward-looking statements. Forward-looking statements include, among other things, statements regarding the exploration, development and operation of Strata's mineral properties. Forward-looking statements are necessarily based upon a number of estimates and assumptions. While such estimates and assumptions are considered reasonable by the management teams of Strata, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks and accordingly may not occur as described herein or at all. Investors are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. SOURCE Strata Minerals Inc.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV