The Project is an advanced stage exploration project consisting of approximately 4,200 hectares of State and Federal claims located in Uintah County, Utah.
Revival Gold Inc. acquired a 51% interest in the project through a joint venture earn-in agreement with Utah Minerals LLC in December 2014.
Previous phosphate exploration work at Diamond Mountain was conducted in the 1960-70’s by US Steel Corp. which outlined phosphate mineralization in two gently dipping seams of phosphoric rock totaling approximately five meters in thickness. Mineralization sub-crops to the north and gently dips to the south.
The Project is adjoined to the west by Simplot Corporation’s Vernal Phosphate Mine and Beneficiation Complex which reportedly produces at a rate of approximately 1 million tons per annum of concentrated phosrock grading an average of 30% P2O5.
In connection with the Utah Minerals LLC earn-in agreement, Revival Gold completed a 17 hole core drill program and 43-101 Technical Report prepared by Lawrence D. Henchel, P.Geo., PG, Northwest Corporation dated October 2014.
Highlights of the Technical Report:
- Overall Measured & Indicated Resources of 33.9 million tonnes with an average grade of 19.75% P2O5 and average ore thickness of 4.46 metres.
- Overall Inferred Resources of 27.1 million tonnes with an average grade of 19.72% P2O5 and average ore thickness of 4.41 metres.
- The resource lies at depths below surface ranging from approximately 90 metres to 350 metres with an average dip from north to south of 8 degrees.