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Aguia Resources Ltd.
Summary
| Project: | Tres Estradas | |
|---|---|---|
| Deposit: | Tres Estradas | |
| Location: | Brazil | |
| Commodities: | Phosphate | |
| Date: | 5/8/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 8-5-2017: Aguia Resources Ltd. announces an Exploration/Drilling Update report for its Tres Estradas deposit at the Tres Estradas project. Drilling results incl. 79m @ 3.23% P2O5, 29.14% CaO from 188m. Brazilian fertiliser developer Aguia Resources Limite | |
| 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 13,710 metres has been drilled, which includes 9,495 metres of diamond drilling and 4,215 metres of reverse circulation drilling. The recent drill program, which commenced in late 2016, has been a major undertaking and represents approximately 50% of the total 27,800 metres of diamond and reverse circulation that has been undertaken on the property since 2011. As announced on 16 February 2017, the Company 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 oxidised high-grade material. This northeast extension will be tested with an additional 500 metres of reverse circulation drilling that will target potential oxidised material near surface. | |
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