eagle star minerals corp (EGE:Venture)
eagle star minerals corp (EGE) Snapshot
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Open
C$0.26
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Previous Close
C$0.27
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Day High
C$0.28
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Day Low
C$0.26
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52 Week High
02/13/13 - C$0.42
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52 Week Low
06/5/12 - C$0.07
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Market Cap
21.4M
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Average Volume 10 Days
81.3K
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EPS TTM
--
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Shares Outstanding
79.1M
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EX-Date
--
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P/E TM
--
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Dividend
--
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Dividend Yield
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Eagle Star Minerals Corp., a natural resource company, focuses on the acquisition, exploration, and development of agro-mineral properties in Brazil. It primarily explores for phosphate and potash-bearing glauconite, as well as iron ore. The company owns a 100% interest in the Ruth Agromineral project covering approximately 118,000 hectares comprising 59 mineral claims; and a 100% interest in the Samba phosphate project covering 109,285 hectares consisting of 60 mineral claims situated in the central western portion of Piaul state. It also holds interest in the Angico iron ore project that covers approximately 120,000 acres of mineral claims in 5 concession areas located in the state of Piaui; and the Bomfim Agro-mineral Project that consists of 4 claims covering 30,922 hectares and is located in southern Tocantins state. The company was formerly known as Eagle Star Petroleum Corp. and changed its name to Eagle Star Minerals Corp. in July 2010. Eagle Star Minerals Corp. was incorporated in 2004 and is headquartered in Vancouver, Canada.
eagle star minerals corp (EGE) Top Compensated Officers
eagle star minerals corp (EGE) Key Developments
Eagle Star Minerals Corp. announce that based on positive results, the drill program being carried out at the Bomfim Agro-mineral Project has been extended in order to quantify resources on additional targets already identified through previous field work. 110 holes have been added to the program in addition to the 150 holes originally planned. The new program will be distributed amongst remaining areas of Target D (PZE South) other than the portion of the target where the resource calculation is currently being carried out. An additional six areas with very similar geological context and known mineralized zones are also programmed to be explored which include Target D (PZE North), Target D (MSZ), Target D (PZW), Target A (Amaury), Target G (Kalunga) and Target F (Adepasa). These seven targets to be drilled are located within a 15km radius and the Company's focus will be aimed towards defining high-grade (> 15% P(2) O(5)) and lower grade (5%-15% P(2) O(5)) zones that collectively will represent the overall resource at Bomfim. Target A (Amaury)- Detailed mapping (1:10,000) at this area has revealed outcrops of high-grade phosphorite. As part of a scout drilling program, two holes BRF-03 & BRF-15 were executed in strike and were previously reported to return good intersections of up to 16 meters consisting of significant zones including grades up to 13.65% P(2) O(5) over 2.40m. A geophysical line survey of 2.5 kilometers performed on top of both drill holes indicated a strong correlation between geophysical and drill results providing valuable insight between drill holes. The geophysical survey also indicated that mineralization should extend to the south and closer to surface. Two pits were opened to confirm this and they returned preliminary indications of high-grade phosphate values of up to 15.37% over 2.0 metres by handheld XRF, further extending the strike to 570 meters. The preliminary interpretation of this zone suggests a tabular form of mineralization that may extend laterally over 1.5 kilometers. Target G (Kalunga)- The regional exploration program conducted to the north of Target A identified a prospective area of outcropping phosphorite where hand held XRF results of chip samples returned significant values including a high-grade sample with 16% P(2) O(5). Further geological mapping at a 1:50,000 scale showed favourable geological context very similar to other targets where high-grade phosphate has been discovered. These areas of interest are currently being followed up with more detailed mapping and test pits prior to drilling. One geophysics line (1,400 metres) was surveyed (passing by the targets selected to carry out pit testing) and has returned a very favourable profile that justifies further exploration by way of drilling. Target F (Adepasa)- Follow up work and interpretation of the results from the scout drilling program lead the team to identify this promising area. The prospective interpretation is based on the presence of a silexite hill where the typical rock textures of the phosphorite are preserved through the silicification process. The plateau surrounding the hill also displays the same type of soil that occurs at Target D. One geophysics line (700m) has already been surveyed and revealed the presence of a thick profile from dolomite bedrock to surface.
Eagle Star Minerals Corp. reported 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% P(2) O(5). 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: Proximity to granite source rocks - much the same as Target A (‘Amaury target’) at Bomfim, Extensive plateau - similar to that at the Canabrava target in MbAC's Itafós and Silicified phosphorite - similar to that observed capping Bomfim Hill. 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.
Eagle Star Minerals Corp. provided an operational update on the NI 43-101 drill program focused on the South Portion of PZE at the Bomfim Hill. To date, the company has made significant progress with 75 of 150 drill holes already been completed. Work in the field is ongoing and the company does not anticipate any delays beyond the end of second quarter target date.
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