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Aguia Resources Ltd.
Summary
| Project: | Tres Estradas | |
|---|---|---|
| Deposit: | Tres Estradas | |
| Location: | Brazil | |
| Commodities: | Phosphate | |
| Date: | 5/25/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 25-5-2017: Aguia Resources Ltd. announces an Exploration/Drilling Update report for its Tres Estradas deposit at the Tres Estradas project. Drilling results incl. 78.25m @ 4.12% P2O5 from 24.00m. 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 ongoing infill drilling program at its flagship Três Estradas Phosphate Project in southern Brazil. The program continues to return positive results that demonstrate the homogeneous and continuous nature of the deposit. One diamond rig and one reverse circulation rig continue to operate at site. To date, a total of 13,775 metres have been drilled, which includes 9,495 metres of diamond drilling and 4,280 metres of reverse circulation drilling. As announced on 16 February 2017, the Company has identified a new shallow zone of mineralisation along the southeast border of the proposed Três Estradas pit shell. Drilling has proven continuity of this zone for at least 700 metres of strike with the NE extension remaining fully open. Geological modelling of the results along this zone indicate that the folded structure is plunging to the southwest, thus the northeast extension that remains open should reach the surface and potentially develop oxidized high-grade material. This northeast extension is currently being tested with an additional 500 meters of reverse circulation drilling targeting potential near surface oxidized material. Technical Director Dr. Fernando Tallarico commented, “As we approach the completion of this very significant drilling program, we couldn‟t be more pleased as the results clearly prove the steadiness of the deposits morphology and grades. Holes like TED-17-128 that returned 78.25 metres of nearsurface mineralisation indicate that this new southeast zone could substantially improve our strip ratio.” | |
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