Plains Creek Phosphate Corporation
TSX VENTURE : PCP

Plains Creek Phosphate Corporation

August 15, 2011 13:56 ET

Plains Creek Phosphate Corporation: Update on Farim Phosphate Deposit Drill Program and Definitve Feasibility Study

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 15, 2011) - Plains Creek Phosphate Corporation (the "Company") (TSX VENTURE:PCP) is pleased to provide an update on the Farim Phosphate Project drill programs and definitive feasibility study that is currently underway.

Drill Programs

Four drill programs have been undertaken at the Farim Phosphate Project over the period May to July 2011.

  1. Resource definition and resource expansion drill program. A total of 17 drill holes
    totalling 915 meters were completed during the period May to July 2011 planned to
    provide further definition of the existing resource (converting inferred to measured and
    indicated resources) and to increase the existing resource to the north west and south.
    Results of this drilling are expected in September 2011.
  1. Metallurgical test work drill program. A total of 9 drill holes totalling 352 meters
    were drilled from May to July 2011. These drill holes were approximately 250 mm in
    diameter. Phosphate ore material from these current drill holes together with phosphate
    ore material accumulated from previous drill programs has been aggregated and will be
    shipped for further metallurgical test work. Results from the metallurgical test work will
    be incorporated into the feasibility study.
  1. Hydrogeological and geotechnical drill program. A total of 4 drill holes totalling 190
    meters were drilled for the installation of hydrogeological testing equipment and
    geotechnical testing. The results from these hydrogeological drill holes together with
    previous hydrogeological drill holes will be incorporated into the feasibility study.
  1. Exploration drill program. A total of 20 drill holes totalling 1427 meters were drilled
    on the 1490 square kilometre Exploration Licence that surrounds the existing 306 square
    kilometre Mining Licence which covers the Farim Phosphate Deposit. Up to 6 drill holes
    intersected phosphate mineralization. These new intersections may potentially expand the
    existing Farim phosphate ore resource base.
  1. Drilling results. Results of this exploration drill program will be released in the next
    few weeks as more quality data becomes available.

As a result of the onset of the rainy season in West Africa all drill operations were suspended at the end of July and are expected to resume in September / October this year when drier conditions return.

Bankable Feasibility Study

Good progress has been made by GBM Minerals Engineering Consultants Limited ("GBM") on the Definitive Feasibility Study ("DFS") over the last 4 months. The DFS is still scheduled for completion in the 4th Quarter 2011.

Resource Estimates

Golder Associates (UK) Ltd ("Golder") of London, England continue to update the existing resource model and will incorporate the results from the recently completed resource definition and resource expansion drill program into a revised resource model.

Mining

Golder has commenced work on a developing a definitive mine plan for the phosphate mining operation. Results from the current hydrogeological and geotechnical drill program will be incorporated in the definitive mine plan.

Metallurgical

A metallurgical test work program is well underway using the Geological School 1 metallurgical laboratories at Nancy, France. Results from the test work program will be utilized to finalize the flow sheet to produce phosphate rock concentrate. In addition product from the metallurgical test work program will be used for slurry pipeline design tests, additional tests to produce phosphoric acid and to provide product samples to potential off take partners.

Tailings options have been investigated and await further field work to complete.

Infrastructure

Design engineering and planning is continuing on the layout of the beneficiation plant, offices, roads and associated infrastructure including power and water supplies.

The approximate 80 kilometre slurry pipeline from the beneficiation plant located at Farim to the port site at Pointe Cheque is under design engineering and planning.

Port

Design engineering and planning for the port at Pointe Cheque is underway.

Environmental

Socio-economic studies have been completed in the project area around the town of Farim and along the proposed slurry pipeline route to the proposed port site at Pointe Cheque.

Hydrological, air quality and weather monitoring systems have been installed in and around the project site to provide on going monitoring and data collection facilities.

ON BEHALF OF THE BOARD

Carson Phillips, Director

Cautionary Statement

Statements in this release may be viewed as forward-looking statements. Such statements involve risks and uncertainties that could cause actual results to differ materially from those projected. There are no assurances the Company can fulfill such forward-statements and the Company undertakes no obligation to update statements. Such forward looking statements are only predictions; actual events or results may differ materially as a result of risks facing the Company, some of which are beyond the Company's control.

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.

Contact Information

  • Plains Creek Phosphate Corporation
    Carson Phillips
    Vice-President, Corporate Development
    (604) 657-5871
    (604) 688-6402 (FAX)
    cphillips@plainscreek.com