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Aguia Resources Ltd.
Summary
| Project: | Tres Estradas | |
|---|---|---|
| Deposit: | Tres Estradas | |
| Location: | Brazil | |
| Commodities: | Phosphate | |
| Date: | 4/3/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 3-4-2017: Aguia Resources Ltd. announces an Exploration/Drilling Update report for its Tres Estradas deposit at the Tres Estradas project. Drilling results incl. 96.97m @ 3.57% P2O5, 32.04% CaO from 150m. Brazilian fertiliser developer Aguia Resources Lim | |
| 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. Four diamond rigs continue to operate at site. To date a total of 13,022 metres have been drilled, which includes 8,807 metres of diamond drilling and 4,215 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. Aguia took the decision to cease drilling at the 700 metre strike extension mark to focus on infill drilling. Infill drilling along this 700 metres of strike continues with the objective of producing a measured and indicated category resource from surface to a depth of 100 metres. The technical team’s strategy has been to target shallow mineralization that will be added to the current resource. It is expected that inclusion will not only improve the overall strip ratio of the proposed operation but will ultimately reduce mining costs. Initial results of this zone indicate that thicknesses and grades are in accordance with the bulk of the deposit as attested by results of hole TED-17-116 returning 47.73 metres of mineralisation. Since the announcement of the infill drill program on 23 March 2017, the latest results continue to demonstrate the continuity of mineralisation both laterally and at depth. Modelling of these results has returned intersections that are thicker at depth than anticipated in the previous resource model, e.g. hole TED-17-110 that returned 96.97 metres grading 3.57% P2O5. | |
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