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Chaketma Exploration Update - All Drill Assays Received
Chaketma Exploration Update - All Drill Assays Received

Sydney, Jan 23, 2012 AEST (ABN Newswire) - Celamin Holdings NL has received the following report from Celamin Ltd; As previously announced, Celamin Ltd has completed a 12 holes (1,200m) diamond drilling program on the Chaketma Exploration Permit (EP) in Northern Tunisia held and funded jointly with Tunisian Mining Services SARL (TMS).

Analytical results now been received for all of the 12 (twelve) drill holes. The locations of the holes are shown and the results for all 12 holes are summarised. Eleven of the 12 holes intersected potentially economic thicknesses phosphate rock.

The thickest intercepts were holes CDHH-2011-008 (23.4 metres at 21.6% P2O5) drilled at Sidi Ali Ben Oum Ezzine, this hole also had the highest grade intercept and Hole CDHH-2011-003 drilled at Gasaa Kebira (24 metres at 19.8% P2O5).
The length, weight and average grade of the intercept at Gasaa Kebira (7 holes) is 20.4% P2O5 and 20.6% P2O5 (4 holes) at Sidi Ali Ben Oum Ezzine. The average length of all intercepts is 14.4 metres. Overburden in the drill holes thicknesses range from 13 to 153 metres.

Celamin has also compiled the available historic data for the Chaketma project area which includes two diamond holes and 14 trenches excavated in the late 1960's. Results are available for 12 of the trenches and the two diamond drill holes. This historic work extends beyond the limits of the current Celamin/TMS EP. However, ten (10) of the trenches (results available for nine (9)) are within area of the EP. Collectively this early work demonstrates the tenor and continuity of the mineralised phosphate unit. The location of this earlier work is shown on Figure 3. (see link to full release)

These historic trench results correlate well with the mapped geology and include significant results including: -

- Gasaa Kebira Trench T6 39 metres at 22.4% P2O5
- Sidi Ali Ben Oum Ezzine Trench T9 27.5 metres at 21.8% P2O5

Empirically, there is a good correlation between the grades in drill holes at Chaketma and historic trench results. Particularly trench T1 (18m@21% P2O5) with CHDD2011-001 (20m@21% P2O5) and trenches T3 (17m@20% P2O5) and T4 (19m@19% P2O5) with CHDD2011-002 (14.7m@20% P2O5).

DETAILS
In Late 2011, Celamin/TMS drilled 12 HQ diamond core holes totaling 1,200 metres at Chaketma. Eleven of the 12 holes intersected potentially economic thicknesses. Empirically, there is a good correlation between the grades in drill holes at Chaketma and historic trench results obtained by previous explorers. Particularly trench T1 (18m@21% P2O5) with CHDD2011-001 (20m@21% P2O5) and trenches T3 (17m@20% P2O5) and T4 (19m@19% P2O5) with CHDD2011-002 (14.7m@20% P2O5).

Celamin and TMS have also completed detailed geological mapping of the EP and have excavated six trenches at the same locations as historic trenches. The samples from this work have been submitted for analysis and the results are pending. The standard of trenching is high. Trenches were dug perpendicular to stratigraphy. Sampling to geological boundaries was done along channels, uniformly cut with an angle-grinder. The position of each sample was determined by hand-held GPS. Sample locations were marked with spray paint for later pick up by a surveyor.

PROJECT DESCRIPTION
The Chaketma project is located 210km from Tunis by road. The bulk of the phosphate is located at the base of a massive limestone unit close to the top of a high segmented plateau, which rises approximately 600m above the valley floor. This plateau extends for approximately 12 kilometres from north to south, and from 900 in 1,200 metres width. The average width of the ridge is 1,000 metres.

The plateau is divided in to distinct domains or prospects by a series of normal faults. Within the Celamin/TMS exploration permit these are from north to south:

Gassaa Kebira - a basin like feature with an outer rim at 1100 to 1170 metres dipping to the west at 5 to 20 degrees;

Douar Ouled Hamouda - a slump or down faulted block at a height of 875 metres to the east of Gassaa Kebira;

Kef Sidi Ali Ben Oum Ezzine - a prominent pinnacle rising to 1307 metres;

Kef El Louz - a fault bound monocline which dips to the west at 10-15 degrees;

Gassaat Ez Zerbat - the southern most phosphate occurrence in the Chaketma tenement area.

The Chaketma permit area has been mapped in detail. The area is faulted into blocks and tilted plates bordered in some places by high cliffs. The phosphate unit has been identified at all the prospects and is continuous under the limestone overburden.

SAMPLING AND ASSAYING PROCEDURES
Core from the drill holes was half split and sampled after geological logging generally at 1-m intervals or to lithological boundaries. These samples were crushed and riffle split and 500g splits were sent to commercial laboratories for analysis.

The samples from six holes, CHDD2011-003 to CHDD2011-008, (145 in total) were sent to both ALS Global in Seville in Spain and Al Amri Laboratory in Jeddah Saudi Arabia for analysis for major oxides using XRF on fused "buttons". Samples from the remaining holes six, CHDD2011-001, CHDD2011-002 and CHDD2011-009 and CHDD2011-012, were only analysed at Al Amri Laboratory in Jeddah.

At the time of writing Celamin/TMS had received major element oxide analyses for all 12 holes. All samples within the phosphatic horizon will also be analysed from a comprehensive suite of 34 trace elements in due course.

Please view the full announcement for tabled results:
http://media.abnnewswire.net/media/en/docs/ASX-CNL-368217.pdf

Contact

Celamin Holdings NL
T: +61-3-9692-7222
F: +61-3-9529-8057
WWW: celaminnl.com.au



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