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Aguia Resources Ltd.
Summary
| Project: | Tres Estradas | |
|---|---|---|
| Deposit: | Mato Grande | |
| Location: | Brazil | |
| Commodities: | Phosphate | |
| Date: | 1/16/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 16-1-2018: Aguia Resources Ltd. announces an Exploration/Drilling Update report for its Mato Grande deposit at the Tres Estradas project. Drilling results incl. 9m @ 7.37% P2O5 from 0m. SYDNEY, AUSTRALIA, January 16, 2018 - Brazilian fertiliser developer | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Fernando Tallarico (Internal) | |
| ABSTRACT: | SYDNEY, AUSTRALIA, January 16, 2018 - Brazilian fertiliser developer Aguia Resources Limited (ASX:AGR, TSXV:AGRL) (“Aguia” or the “Company”) provides an update on regional exploration activities at the Mato Grande carbonatite target, located 80 km northeast from its flagship Três Estradas project site in Rio Grande do Sul, Brazil (see Figure 1). Aguia has been conducting an auger drilling program over the Mato Grande carbonatite to expand upon historical data that indicated up to 8.38% P2O5 in fresh carbonatite samples. The Mato Grande carbonatite is a 700m long by 200m wide intrusion in a structural setting similar to the mineralised carbonatite at the Três Estradas phosphate deposit. Results from 35 auger holes, totaling 110 assays, have been received and the results are very encouraging. The objective of this auger program is twofold: outline the extent of the carbonatite body and test for oxidised phosphate mineralisation at surface. While approximately 25 holes (42% of the planned program) still need to be completed and sampled, the initial data is positive as it includes individual auger samples grading up to 11.71% P2O5 and significant intercepts such as MGT-029 with 9 metres from surface grading 7.37% P2O5 and ending in mineralisation. | |
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