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Aguia Resources Ltd.
Summary
| Project: | Tres Estradas | |
|---|---|---|
| Deposit: | Tres Estradas | |
| Location: | Brazil | |
| Commodities: | Phosphate | |
| Date: | 7/12/2016 | |
| Report Code: | JORC | |
| Report Type: | PEA | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 12-7-2016: Aguia Resources Ltd. announces a PEA report for its Tres Estradas deposit at the Tres Estradas project. Updated PEA results incl. NPV (7.5%) of US$400M, post-tax IRR of 43%. Aguia Resources Ltd’s Três Estradas project site, and its satellite si | |
| Resources: | (Resource, Total): 74.7Mt @ 4.13% P2O5 pit-constrained resource at Tres Estradas | |
| CP/QP: | [Resources]: Steven B. Kerr (Millcreek Mining Group) | |
| ABSTRACT: | Aguia Resources Ltd’s Três Estradas project site, and its satellite site, Joca Tavares, are on phosphate deposits located nearby to each other, in the southern region of the State of Rio Grande do Sul, Brazil. In February, 2016, the Millcreek Mining Group (Millcreek) was engaged to perform an updated preliminary economic assessment (PEA) of the project. Aguia Resources Ltd. is an exploration and development company focused on Brazilian phosphate projects to supply the Brazilian agriculture sector. Aguia is listed on the Australian Stock Exchange (ASE) under the symbol AGR and has offices in Sydney, Australia and Belo Horizonte, Brazil. The company currently controls over 1,110 km2 of land in the states of Rio Grande do Sul and Paraiba containing phosphate mineralization through exploration permits it has acquired from the Brazilian National Department of Mineral Production (DNPM). The company seeks to develop its holdings of phosphate deposits into viable mining operations providing phosphate and agricultural limestone to Brazil’s agriculture industry. Millcreek has prepared this PEA on behalf of Aguia Resources Ltd (Aguia) in accordance with the current requirements of Australasian Code for Reporting of Exploration Results, Mineral Resources, and Ore Reserves (‘the JORC Code’). The JORC code is a professional code of practice that sets the minimum standards to be followed for public reporting of minerals exploration results, mineral resources, and ore reserves. In accordance with accepted standards and best-practises for certification of resources, Millcreek personnel performed a personal inspection of the project sites from March 17, 2016 through March 19, 2016. Millcreek’s representatives included Mr. Steven Kerr (C.P.G.-10352) and Mr. Alister Horn (MMSAQP-01369), who are considered Competent Persons under the JORC code. | |
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