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Aguia Resources Ltd.
Summary
| Project: | Tres Estradas | |
|---|---|---|
| Deposit: | Tres Estradas | |
| Location: | Brazil | |
| Commodities: | Phosphate | |
| Date: | 2/2/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 2-2-2017: Aguia Resources Ltd. announces an Exploration/Drilling Update report for its Tres Estradas deposit at the Tres Estradas project. Drilling results incl. 131.35m @ 3.28% P2O5 from 160.45m. Brazilian fertiliser developer Aguia Resources Limited (AS | |
| 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. To date, 8,500 metres of drilling, or 89% of the total of 9,500 metres originally planned, has been completed. The program will be extended to include another 1,000 metres of infill drilling, as recommended by Millcreek Mining Group to ensure a robust audit of the mineral resource statement for inclusion in the Bankable Feasibility Study (the “BFS”). Thus, the final program will total 10,500 metres of drilling. The current program is demonstrating that the mineralised carbonatite is very consistent and continuous both along strike and at depth. These latest drill results, as well as those reported to shareholders on 17 January 2017, reveal that certain parts of the deposit are thicker than predicted in the previous resource model. Drilling sections 1250NE (Figure 1 below) and 600NE (Figure 2 below) are examples of the thicker mineralised intercepts relative to the previous resource model. Aguia is also pleased to confirm that the Pilot Plant Program at the Eriez Floatation Division in Pennsylvania is now underway, a key component of the BFS which is advancing well. | |
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