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Aguia Resources Ltd.
Summary
| Project: | Tres Estradas | |
|---|---|---|
| Deposit: | Tres Estradas | |
| Location: | Brazil | |
| Commodities: | Phosphate | |
| Date: | 3/23/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 23-3-2017: Aguia Resources Ltd. announces an Exploration/Drilling Update report for its Tres Estradas deposit at the Tres Estradas project. Drilling results incl. 30m @ 13.67% P2O5, 18.89% CaO, 4.54% MgO from 31.0m. Brazilian fertiliser developer Aguia Re | |
| 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. The program continues to return highly encouraging results that demonstrate the homogeneous and continuous nature of the deposit. Four diamond rigs continue to operate at site while the reverse circulation program is now complete. To date a total of 12,680 metres have been drilled, which includes 8,465 metres of diamond drilling and 4,215 metres of reverse circulation drilling. After identifying a new zone of mineralisation along the southeast border of the deposit, management decided to extend the drill program by 1,500 – 2,000 metres (as announced February 16th, 2017). Infill drilling along this zone continues and as a result of the very positive results the program will total about 14,000 metres, approximately a 40% increase relative to the initial plan. Drilling is expected to be complete by the end of April, with results to be incorporated into an updated JORC compliant resource for Três Estradas which will be released to the market upon completion. The identification of the new carbonatite zone has the potential to substantially increase the overall resource at Três Estradas and justifies the expanded scope of drilling works. | |
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