Amazon Mining Holding Plc reported it has received an initial National Instrument (NI) 43-101 compliant inferred mineral resource estimation for its Cerrado Verde potash project from Coffey Mining.

Cerrado Verde is a source of potash rich rock from which Amazon plans to produce a slow-release, non-chloride, multi-nutrient, fertilizer product. Cerrado Verde, amenable to open pit mining, is located in central Minas Gerais in the heart of Brazil's vast Cerrado agricultural area.

The initial resource is based on 19 drill holes in the Funchal Norte target. Resources were estimated using a block model with blocks of 100x100x10m and using ordinary Kriging methods. All current resources are inferred as defined by the Canadian Institute of Mining ("CIM") guidelines for resource reporting.

The resource is reported below at various cut-off grades:

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       Tonnes (Mt)           K2O (%) (average)      Cut-Off Grade K2O (%)  

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          148.59                    9.09                     5.0           

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          105.11                   10.32                     7.5           

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          64.39                    11.17                     10.0          

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The Funchal Norte Target represents only a small portion of the geological potential of the Cerrado Verde project. Coffey Mining used satellite imagery technology to estimate the exploration potential inside Amazon claims of approximately 15 billion tonnes of glauconite mineralization. While grades cannot be verified, the mineralization exhibits extraordinary homogeneity based on work conducted at the Funchal Norte target. The potential quantity and grade is conceptual in nature. There has been insufficient exploration to define a mineral resource. It is uncertain if further exploration will result in discovery of a mineral resource.

Commenting on the results, President & CEO Cristiano Veloso reiterated, "The resource will be the basis of our preliminary economic assessment. In the coming months, Amazon will conclude work to determine operating and capital costs and seek to quantify the agronomic efficiency of the proposed ThermoPotash product."