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Market:	ASX
Sector:	General Mining
EPIC:	MNM
Latest Price:	0.12 (9.52% )
52-week High:	0.20
52-week Low:	0.05
Market Cap:	22.53M

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Mantle Mining Corporation

Mantle Mining Corporation (ASX: MNM) is a diversified Australian minerals exploration company with a large portfolio of projects across a range of commodities.

Mantle Mining kicks off drilling campaign at Barkly Phosphate Project

Monday, November 23, 2009

Mantle Mining (ASX: MNM) has commenced drilling at the company’s Barkly Phosphate Project at the Georgina Basin, Australia’s most prospective basin for phosphate rock.

The company's tenements in the Northern Territory are strategically located centrally between Minemaker’s (ASX: MAK) Wonarah deposit (JORC Resource of 1,105Mt @ 18% P2O5) and Phosphate Australia’s Highland Plains deposit (JORC Resource of 56Mt @ 16% P2O5).

The Alexandria, Alroy and Buchanan Dam phosphate occurrences also sit near Mantle’s project area.

These four latter deposits occur on the northern side of an area of elevated magnetics, while Wonarah lies to the south of the same feature.

Mantle is targeting Primary Marine Deposit style of phosphate mineralisation. Exploration criteria for these deposits includes targeting restricted marine basins, or embayments (shallow marine bay protected by arcuate headlands), with existing phosphate deposits and limestone source rocks.

The phosphate deposits in the Georgina Basin occur in relation to either the Wonarah Limestone or Camooweal Dolomite source rocks. Both source rocks occur across substantial portions of Mantle’s tenements.

Historical drilling has confirmed the presence of phosphate rock within prospective stratigraphy underlying Mantle’s tenements. A number of drill holes with phosphate intersections exist on EL 26018.

In addition to the location of known mineralisation and the presence of outcropping source rocks on Mantle’s tenements, exploration criteria used to target the location for the current programme of drill holes is primarily based on reviewing magnetic imagery.

Depth to Magnetics data has been referenced in order to target the potential for ancient ocean embayments since covered by thin veneers of sediment deposited in the basin once the inland ocean receded.

The drilling programme is expected to be wrapped up in about four weeks.

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