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Gold/Mining/Energy : Champion Resources - CHL.vse
CHL 27.510.0%Sep 27 5:00 PM EST
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To: T.Bill who wrote (7)8/17/1998 1:29:00 PM
From: rdww  Read Replies (1) of 176
 
pleasing results from the chemical analysis of drill cores at Farim.

Champion Resources Inc CHL
Shares issued 13,950,440 Aug 14 close $0.15
Mon 17 Aug 98 News Release
Mr. John Hiner reports
The company has received the results of chemical analyses from drill core
recovered during the recently completed drill program at its Farim
phosphate project, Guinea Bissau, West Africa.
Champion's drill program was designed to obtain core for metallurgical
testwork and to expand the existing mineable reserve of 105 million tonnes
of phosphate rock grading 29.8 per cent P2O5. The program was successful in
extending the limits of the known phosphate ore horizon by 3km to the west.
The most western Champion drill hole intersected 4.3m of the phosphate ore
horizon, although difficult drilling conditions preclude accurate
determinations of full phosphate ore thickness. The deposit remains open to
the west and north. Core from the exploration step-out holes and from two
confirmation twin holes was sent to Florida for analysis.

Hole Thick- P2O5 Fe2O3 Al2O3
ness % % %
m

98-8 2.0 32.49 3.10 2.27
98-9 1.6 32.74 6.89 4.82
26.16 4.29 8.64
1.5 27.60 6.01 2.73
98-13 0.3 31.51 4.63 2.67
98-12 2.6 33.24 3.56 2.58

Hole MgO CaO Cd
% % ppm

98-8 0.28 44.88 11.60
98-9 0.07 44.70 11.10
0.19 43.38 5.78
0.38 43.38 5.78
98-13 0.28 45.23 6.16
98-12 0.10 46.72 8.19

The arithmetic average of the phosphate ore horizon is 30.62 per cent P2O5,
with an average CaO/P2O5 ratio of 1.46. These results confirm the
previously reported high phosphate grades and lower than average carbonate
content.
Results also verify the low levels of cadmium and magnesium in the
phosphate ore. Cadmium is desirable in phosphate due to environmental
considerations. Likewise, excessive magnesium negatively impacts phosphate
processing. The low levels of these elements in Farim ore enhance the
deposit's attractiveness relative to the higher cadmium values present in
other West African phosphate deposits as well as the higher magnesium
content of Florida ores.
The company plans additional beneficiation and phosphoric acid process
testwork to optimize P2O5 recovery. Additional drilling is planned to
determine the full extent of the deposit. Results of this work will be
incorporated into a full feasibility analysis.
(c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com
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