High Grade Surface Sampling Results Including 25.7% And 28.4% P2O5

  • Reconnaissance rock chip sampling from Block 1 has returned best results to date from the Mata da Corda Phosphate Project (“MCPP”).
  • 34 surface rock chip samples from Block 1 have returned high grades of up to 25.7% and 28.4% P2O5 and delineated a mineralised trend now extending for over 1 kilometre and up to 500 metres wide.
  • Significantly the new results appear to be related to a potential carbonatite source.
  • 85% of phosphate rock production in Brazil is related to carbonatite hosted mineralisation, including the large Vale owned mines Araxa and Tapira located some 150 kilometres to the south west of Block 1.
  • The early stage identification of surface mineralisation in Block 1 upgrades the area’s potential to host a near surface phosphate deposit.
  • Drilling at Block 5 and the Capacete target to the east has been completed with assays pending.