VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 7, 2013) - Eagle Star Minerals Corp. (TSX VENTURE:EGE)(ELGSF)(E6R.F) ("Eagle Star" or "the Company") is pleased to report a newly discovered, high grade phosphate area (Target G or "Kalunga target") in the northern-most area of its Bomfim claims. This new target area contains multiple outcrops of high-grade phosphorite, which based on the company's geological model and now also exploration experience, is a positive indication of phosphated material found in larger tonnage beneath. Hand held XRF analyses from the discovery outcrop have already indicated the prospective nature of the area having returned values of up to 16% P2O5.
|Point/Sample||Rock Code||P2O5 (%)||CaO (%)|
The preceding table contains results from five grab samples, which are by nature selective and may not be representative of the mineralized unit sampled; they should not be relied upon.
The geological setting of this high-grade phosphate mineralization shares many similar geologic controls observed at other targets discovered during both Bomfim and Itafos exploration including:
(a) Proximity to granite source rocks - much the same as Target A ("Amaury target") at Bomfim,
(b) Extensive plateau - similar to that at the Canabrava target in MbAC's Itafós
(c) Silicified phosphorite - similar to that observed capping Bomfim Hill (Target D or "Bomfim targets - MSZ/PZE/PZW").
Immediately following the discovery of this new target, the company conducted 1,400 meters of geophysical survey to assist in defining the extent of the new mineralized area. The data is currently being processed and will be interpreted in conjunction with a 1:25,000 detailed mapping program. Pit, trench and drill hole targeting are being planned to commence soon after.
XRF readings were collected systematically following recommended procedures of the manufacturer, Innov-X Systems. Prior to analysis, the sample collected is homogenized, dried (using microwave oven) and manually crushed to fine grain. The handheld XRF analyzer is an Olympus Delta model and was calibrated according to Innov-X Systems in-house calibration procedure. The Company conducts field XRF analysis using industry recognized sample preparation and analysis protocols, and has conducted sufficient quality control using the XRF method to believe that although the method cannot be relied upon to have the equivalent precision and accuracy of a certified analytical laboratory, the results are of sufficient quality to direct exploration pending analytical laboratory confirmation.
John Harrop PGeo, FGS, of Coast Mountain Geological Ltd, a qualified person under NI 43-101, reviewed and approved the technical disclosures of this press release on behalf of the Company.
To view map of Target G please click on the following link: http://media3.marketwire.com/docs/EGE0507.pdf
"The discovery of Target G (Kalunga) supports our theory that predicts the existence of multiple ore bodies at Bomfim. We believe this to be very similar to MbAC's Itafós Project, where several ore bodies combine to form a significant resource," commented Eran Friedlander President & CEO.
ABOUT THE COMPANY
Eagle Star Minerals Corp is a publicly listed company focused on the acquisition, exploration and development of agro-mineral properties in Brazil. Over the past two years, Eagle Star Minerals has strategically grown its' presence in Brazil and continues to focus on maximizing shareholder value by acquiring assets located in geological areas known for proven phosphate mineralization, coupled with good logistics in close proximity to agriculture.
The Company's shares are publicly traded on the TSX Venture Exchange under the symbol EGE, on the OTC Pink Sheets under the symbol ELGSF and on Frankfurt Stock Exchange under the symbol E6R.
On behalf of the Board of Directors
EAGLE STAR MINERALS CORP.
Eran Friedlander, President