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Aguia Resources Ltd.
Summary
| Project: | Tres Estradas | |
|---|---|---|
| Deposit: | Tres Estradas | |
| Location: | Brazil | |
| Commodities: | Phosphate | |
| Date: | 12/13/2016 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 13-12-2016: Aguia Resources Ltd. announces an Exploration/Drilling Update report for its Tres Estradas deposit at the Tres Estradas project. Drilling results incl. 38.30m @ 12.82% P2O5 from 0m. Brazilian fertiliser developer Aguia Resources Limited (ASX: | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Fernando Tallarico (Internal) | |
| ABSTRACT: | Brazilian fertiliser developer Aguia Resources Limited (ASX: AGR) (“Aguia” or “Company”) is pleased to update shareholders on the infill drilling program at its flagship Três Estradas Phosphate Project in southern Brazil. Results to date are highly encouraging and are achieving Aguia’s objectives for the drill program. The program continues with the primary objective of converting the Inferred resources to Measured and Indicated categories for inclusion in the Bankable Feasibility Study that is now well underway. Four diamond rigs and one reverse circulation rig continue to operate at site, having completed about 4,200 metres, or 44%, of the total 9,500 metre program. The company has received results from the first five batches of samples. The assays confirm thick intercepts of both oxidised and fresh carbonatite as anticipated. Both oxidised and fresh mineralisation are consistent with our resource model and demonstrate the homogenous nature of the Tres Estradas deposit. The drilling program has prioritised those holes identified to generate samples for the upcoming Pilot Plant test at Eriez Flotation Division in Pennsylvania. Technical Director Fernando Tallarico commented, “The drill program is progressing well and on schedule. These initial results returned thicknesses and grades that confirm the uniformity and predictability of the Três Estradas mineralisation. The results are meeting our expectations and confirm our previous geological interpretation of the deposit. Whilst the infill drilling for the BFS is our obvious priority, we are also keen to undertake exploration across our adjacent projects where we believe there is similar potential to Três Estradas and could add significant scale to our Rio Grande do Sul phosphate asset base.” | |
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