Rio Verde drills 12.81 m of 16.7% KCl at Sergipe
2012-03-13 06:49 ET - News Release
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Mr. Stephen Keith reports
RIO VERDE MINERALS REPORTS CARNALLITITE ASSAY RESULTS OF ITS SERGIPE POTASH PROJECT
Rio Verde Minerals Development Corp. has released the second set of assay results from its first drill hole at the Sergipe potash project, located in the Sergipe basin in northeastern Brazil. The assays refer to the carnallitite-bearing zones intercepted at the SED-001-11 drill hole at the Sergi Target, which was completed in November 2011. Samples from the drill core were shipped to ERCOSPLAN, Rio Verde's independent engineering consultant, and analysed at ERCOSPLAN's independent partner lab based in Germany.
Assay results showed that two carnallitite-bearing zones of relevance have been intercepted with a weighted average grade of 16.70% KCl over 12.81m. Starting at 1298.60m depth, the upper zone returned a 7.25m composite interception averaging 13.32% KCl. The lower zone, which starts at 1313.90m depth, intercepted 5.56m at 21.11% KCl. These two zones appear to be suitable for solution mining.
The assay results from the carnallitite-bearing zones within the interval from 1257.95m to 1298.60m (located above the two aforementioned intervals) show a high content of tachyhydrite and bischoffite, which, according to ERCOSPLAN, are not appropriate for the solution mining process.
The first set of assay results referring to the sylvinite-bearing zones of SED-001-11 were reported in Rio Verde's February 7, 2012, Press Release (Rio Verde Minerals Reports High Grade Sylvinite of 25.0% KCl over 16.7m at the Sergipe Potash Project).
Rio Verde also wishes to inform that the drill rig has been mobilized to start drilling the second hole (SED-002-12) at the Sergipe Potash Project. The second hole is located 2,680m west-southwest from SED-001-11, and is expected to be finished in Q2 2012. Samples from SED-002-12 will be shipped to the assay lab in Germany upon completion of drilling. A map showing the location of the two holes can be accessed at the following link: media3.marketwire.com.
"Our assay results from the first drill hole further confirmed sylvinite and carnallitite mineralization, which is consistent with the geology of the region" notes Stephen Keith, Rio Verde's President & CEO. "We look forward to the results from the second drill hole at the Sergipe Potash Project as we work towards proving out an NI 43-101 resource on the Project."
Qualified Person
The "Qualified Person," as such term is defined in National Instrument 43-101, who has reviewed and approved the technical information in this new release, is Dr. Henry Rauche of ERCOSPLAN of Erfurt, Germany, an independent consultant for Rio Verde.
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