Initial Drilling Delivers Encouraging Results

Highlights:

  • Fourteen wide spaced first pass holes tested the Capacete Target over a 2.3 kilometre strikelength. Assays from first seven holes have now been received.
  • Drilling at Capacete has intersected narrow high grade intervals of up to 11.15% P2O5 within wider zones of low grade phosphate mineralisation.
  • The grade of the narrow intervals is comparable to operating phosphate mines in close proximity to the project.
  • These early results highlight the area’s potential to host a near surface phosphate deposit in close proximity to infrastructure, primary agriculture customers and fertilizer blenders.
  • Surface rock chip sampling at Block 5 has returned grades of up to 13.01% and 11.84% P2O5 within a large 8 kilometre long target with encouraging host rock thicknesses of up to 100 metres.
  • The drilling rig has mobilised to commence drilling at Block 5 to build on the encouraging first pass results from the Capacete Target.