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Market:	ASX
Sector:	General Mining
EPIC:	POZ
Latest Price:	0.07 (-6.67% )
52-week High:	0.13
52-week Low:	0.05
Market Cap:	7.69M

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Phosphate Australia Full Phosphate Australia profile here

Phosphate Australia (ASX: POZ) is targeting the production and sale of 500,000 to 1 million tonnes per annum of premium grade rock phosphate with low contaminants into the Asian market.

Highland Plains, the company's leading phasphate project in the Northern Territory, has an Inferred Resource of 56 million tonnes at 16% P2O5.

Phosphate Australia receives promising lead-zinc assays from Iroquois prospect

Monday, November 07, 2011 by Angela Kean

Phosphate Australia (ASX: POZ) has received best assays of 23 metres at 2.1% lead and zinc from 24 metres from its maiden drilling program at the Iroquois prospect in Western Australia.

Significant lead and zinc mineralisation was found in four of the seven drill holes.

From this initial drilling, a large target zone has now been identified of approximately 5 kilometres long by 500 metres wide. This corridor is prospective for large Mississippi Valley Type lead-zinc ore bodies.

The mineralisation is shallow, starting from 18 metres, and there appears to be a persistent tabular body of mineralised rock.

The Iroquois prospect is part of a larger basin-wide Earaheedy Base Metals Project targeting Mississippi Valley Type mineralisation on the margins of the late Proterozoic Earaheedy Basin of Western Australia.

Mississippi Valley Type deposits are a large and very important source of lead and zinc. Mississippi Valley Type deposit mining regions include Pine Creek in Canada and the Viburnum trend in Missouri, U.S.

Importantly, the Earaheedy Base Metals Project covers 973 square kilometres in the Yelma formation, which also hosts Magellan Metals’ large, highly prospective lead mine located 30 kilometres from Wiluna in Western Australia’s Mid-West region.

Phosphate Australia completed a short program of aircore drilling at the Iroquois prospect in early October.

Drilling conditions were not ideal for an air core rig, and seven holes were drilled for 282 metres. The drilling was centred around an historic hole, TRC4, drilled in 1995 by base metals explorer RGC Exploration. This hole returned an intersection of 10 metres at 3.7% lead and zinc.

Drilling by Phosphate Australia also tested an anomalous feature detected during the company’s previously flown airborne electro-magnetic survey.

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