End of April, middle of May is "overnight" in this sector!
Already another positive news release:
Mar 29 2000
Mr. Michael McInnis reports
Champion Resources has successfully completed two hydrological tests on the Farim phosphate deposit in Guinea Bissau, West Africa. The tests were designed and overseen by consultants Pincock, Allen and Holt (PAH) as part of a technical due diligence program. The tests confirmed that the two aquifers overlying the phosphate bed can be effectively dewatered by pumping. The test results are important in that they clearly demonstrate that a conventional dry-pit operation, the preferred mining method, is feasible.
There are two sand aquifers at Farim, one immediately above the ore bed and a second 30 metres above the ore bed. The upper aquifer was tested by pumping in November, 1999, and the lower aquifer in February, 2000. In each instance, a six-inch pump well and two remote observation wells were drilled, cased and screened over the appropriate intervals. The wells were drilled to depths of Up to 70 metres. In each test, pumping was carried out over 40 hours at a constant rate and the drawdown characteristics were measured in all three holes over time to generate a theoretical cone of depression.
PAH has concluded that the volume of water needed to be pumped to dewater the Farim pit can be easily handled by a matrix of dewatering wells positioned around the pit. Based upon the PAH assessment, independent consultants in South Africa, The Mineral Corp., is finalizing the mine production schedule, which will be completed shortly. In addition, the water extracted from the pit will more than satisfy all plant process needs. Excess water can be used for drinking needs and for irrigation of local crops during the dry season.
Farim is a large sedimentary phosphate deposit containing a measured and indicated resource of 166 million metric tons grading 29.1 per cent P2O5. The project is currently at an advanced due diligence stage with respect to satisfying the requirements of a major financing from South African institutions. In full production, Farim's output is expected to reach 1.5 million metric tons of phosphate rock concentrate per year grading at least 33 per cent P2O2. |
