Patanella (formerly also called Lucy Creek) on EL24716 is a rock phosphate deposit on the opposite side of the Georgina Basin from Verdant Minerals' flagship Northern Territory Ammaroo Resource. Patanella is 265km northeast of Alice Springs, 155km southwest of the Ammaroo Resource and 100km south-southeast of Ammaroo South.
EL24716 contains an independently assessed Exploration Target for its Patanella Phosphate Prospect of approximately 50 Mt and 100 Mt at 10% to 17% P2O5 at a cut-off grade of 5% P2O5 or approximately 20 Mt to 50 Mt at 15% to 20% P2O5 at a cut-off grade of 10% P2O5. These estimates are based on broad spaced drilling information of uncertain reliability. The potential quantities and grades are conceptual in nature. There has been insufficient exploration to estimate a Mineral Resource and it is uncertain that future exploration will result in estimation of a Mineral Resource.
Patanella phosphate titles, showing Patanella Prospect with the drillholes, the defined exploration target outlined in purple and the prospective interval in grey.