Amazon Mining Reports Initial Resource at Cerrado Verde Project
March 09 2010 - 7:00AM
Marketwired
Amazon Mining Holding Plc (TSX VENTURE: AMZ) ("Amazon" or the
"Company"), is pleased to report it has received an initial
National Instrument (NI) 43-101 compliant inferred mineral resource
estimation for its Cerrado Verde potash project from Coffey Mining.
Cerrado Verde is a source of potash rich rock from which Amazon
plans to produce a slow-release, non-chloride, multi-nutrient,
fertilizer product. Cerrado Verde, amenable to open pit mining, is
located in central Minas Gerais in the heart of Brazil's vast
Cerrado agricultural area.
The initial resource is based on 19 drill holes in the Funchal
Norte target. Resources were estimated using a block model with
blocks of 100x100x10m and using ordinary Kriging methods. All
current resources are inferred as defined by the Canadian Institute
of Mining ("CIM") guidelines for resource reporting.
The resource is reported below at various cut-off grades:
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Tonnes (Mt) K2O (%) (average) Cut-Off Grade K2O (%)
---------------------------------------------------------------------------
148.59 9.09 5.0
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105.11 10.32 7.5
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64.39 11.17 10.0
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The Funchal Norte Target represents only a small portion of the
geological potential of the Cerrado Verde project. Coffey Mining
used satellite imagery technology to estimate the exploration
potential inside Amazon claims of approximately 15 billion tonnes
of glauconite mineralization. While grades cannot be verified, the
mineralization exhibits extraordinary homogeneity based on work
conducted at the Funchal Norte target. The potential quantity and
grade is conceptual in nature. There has been insufficient
exploration to define a mineral resource. It is uncertain if
further exploration will result in discovery of a mineral
resource.
Commenting on the results, President & CEO Cristiano Veloso
reiterated, "The resource will be the basis of our preliminary
economic assessment. In the coming months, Amazon will conclude
work to determine operating and capital costs and seek to quantify
the agronomic efficiency of the proposed ThermoPotash product."
About Coffey Mining
Coffey Mining is a global specialist consultancy providing a
wide range of technical services and products to all sectors of the
international mining industry, from target generation to mine
closure. Coffey has 50 years of experience, over 4,000 people
working on projects in more than 80 countries and permanent offices
throughout the Americas, Africa, Asia Pacific, Europe and the
Middle East.
Competent Person
As required by Canadian National Instrument 43-101, Coffey
Mining designated qualified person responsible for reviewing the
technical information herein contained is Porfirio Cabaleiro
Rodrigues.
About Amazon
Amazon Mining is a mineral exploration and development company
founded by Brazilians in 2005. The company is focused on the
development of Cerrado Verde project. Cerrado Verde is a source of
potash rich rock from which Amazon plans to produce a slow-release,
non-chloride, multi-nutrient, fertilizer product. Amazon Mining is
a UK public company with shares listed on the TSX Venture Exchange
since November 2007.
On behalf of the Board of Directors of Amazon Mining Holding
Plc, Jed Richardson, Vice President of Corporate Development
Cautionary Language and Forward Looking Statements
THIS PRESS RELEASE CONTAINS CERTAIN "FORWARD LOOKING
STATEMENTS", WHICH INCLUDE BUT IS NOT LIMITED TO, STATEMENTS WITH
RESPECT TO THE FUTURE FINANCIAL OR OPERATING PERFORMANCE OF THE
COMPANY, ITS SUBSIDIARIES AND ITS PROJECTS, STATEMENTS REGARDING
USE OF PROCEEDS, EXPLORATION PROSPECTS, IDENTIFICATION OF MINERAL
RESERVES, COSTS OF AND CAPITAL FOR EXPLORATION PROJECTS,
EXPLORATION EXPENDITURES, TIMING OF FUTURE EXPLORATION AND
PERMITTING, REQUIREMENTS FOR ADDITIONAL CAPITAL, GOVERNMENT
REGULATIONS OF MINING OPERATIONS, ENVIRONMENTAL RISKS, RECLAMATION
EXPENSES, TITLE DISPUTES OR CLAIMS, AND LIMITATIONS OF INSURANCE
COVERAGE. FORWARD LOOKING STATEMENTS CAN GENERALLY BE IDENTIFIED BY
THE USE OF WORDS SUCH AS "PLANS", "EXPECTS", OR "DOES NOT EXPECT"
OR "IS EXPECTED", "ANTICIPATES" OR "DOES NOT ANTICIPATE", OR
"BELIEVES", "INTENDS", "FORECASTS", "BUDGET", "SCHEDULED",
"ESTIMATES" OR VARIATIONS OF SUCH WORDS OR PHRASES OR STATE THAT
CERTAIN ACTIONS, EVENT, OR RESULTS "MAY", "COULD", "WOULD",
"MIGHT", OR "WILL BE TAKEN", "OCCUR" OR "BE ACHIEVED". FORWARD
LOOKING STATEMENTS INVOLVE KNOWN AND UNKNOWN RISKS, UNCERTAINTIES
AND OTHER FACTORS WHICH MAY CAUSE THE ACTUAL RESULTS, PERFORMANCE
OR ACHIEVEMENTS OF THE COMPANY TO BE MATERIALLY DIFFERENT FROM ANY
FUTURE RESULTS, PERFORMANCE OR ACHIEVEMENTS EXPRESSED OR IMPLIED BY
SAID STATEMENTS. THERE CAN BE NO ASSURANCES THAT FORWARD-LOOKING
STATEMENTS WILL PROVE TO BE ACCURATE, AS ACTUAL RESULTS AND FUTURE
EVENTS COULD DIFFER MATERIALLY FROM THOSE ANTICIPATED IN SAID
STATEMENTS. ACCORDINGLY, READERS SHOULD NOT PLACE UNDUE RELIANCE ON
FORWARD-LOOKING STATEMENTS.
The potential grades detailed in this release are conceptual in
nature. There has been insufficient exploration to define a mineral
resource and it is uncertain if further exploration will result in
the targets being delineated as a mineral resource.
Readers are cautioned not to rely solely on the summary of such
information contained in this release and are directed to the
complete set of drill results posted on Amazon's website
(www.amazonplc.com) and filed on SEDAR (www.sedar.com) and any
future amendments to such. Readers are also directed to the
cautionary notices and disclaimers contained herein.
NEITHER 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 RELEASE.
Contacts: Amazon Mining Holding Plc Cristiano Veloso President
& Chief Executive Officer +44 (0) 20 8133 7607 +44(0)20 7405
7773 (FAX) cv@amazonplc.com Amazon Mining Holding Plc Jed
Richardson VP Corporate Development +1(416)866-2966 +1(416)866-8829
(FAX) jed@amazonplc.com www.amazonplc.com
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